Another banking thread! From Canadian point of view

[dogstar]

SCOTIA BANK is a franchise, just because the names are the same, they have nothing in common. It's not difficult to open accounts here, I have peso and dollar accounts. I keep enough money in us$ account, that when I take some out I write a check on my US wells fargo account and deposit the same amount I took out, no fees and 4 to 6weeks or ahorita the money is back. Once you start, you can draw from your SS check every week, no atm fees.

 

[william webster]

Interesting thread, I am Canadian too (from QC) so im using also SB to withdraw money

if i get a USD account in SB in Canada it's possible to use the US account here?

Even tho its not too bad.. Always cost me like 20$~ in convertion fee when i withdraw 1k, cant complaint too much.

Certainly.... wire US$ from Canada to Rd easy

ScotiaBank is the oldest bank in RD ---90+ years...
Its not a franchise, but it is a separate corporate entity.... the Cdn letter helps

In fact, SB may be the oldest in the Caribbean... look it up.... maritime banking way back when

 

[Harleysrock]

A few years back the Scotia Bank branch in Bavaro was just about the ONLY place around that would have nothing to do with Canadian dollars.........
Now, I don't know if that was bavaro centric or if things have changed in the past few years but watch out. Canadians tend to think they will be treated well in Scotia Bank because of the connection.......Not necessarily so.

Scotia Bank in the (DR) is not a good bank for Canadians to go to. I would choose any other bank for Canadians.
I can't remember what us Canadians can't do at Scotia bank but it is either have an American Account or good interest rates. I was too mad at the time to remember.
Before we moved here (5 months ago) we changed most of our money to USD and got a US banking account with US Cheques, which was at a good time when CDN was worth more.
We just do a wire transfer every month from our CDN bank.

Don't expect the bank process to be set up quickly. Depending on the bank the amount of things you need to provide is different and many letters of reference and stories will change when talking to the bank people even the same bank person next week will tell you a different answer.
Canadian$ is not advised here especially since the last i looked USD was worth less and the exchange rate here USD is worth more.
Have I said this was the most frustrating part of moving here?!

 

[Criss Colon]

I like "Harley's" style!
He has been posting on DR1 for only a short time, but he has always "Told It Like It IS"!!!!!!!!!!!!!!!!!!!!!!
I strongly suggest that those who are new to DR1, and or the DR, listen to his advice, and what moving to the Dr is REALLY like.
You won't get any "Agenda", hidden or otherwise!
This is NOT a paradise!
Setting up a new life here is not easy, it's a struggle, and an adventure.
He has also built a house, not easy to do anywhere on Earth, not to mention the DR!
It takes a lot of hard work, money,and the ability to accept many things as the "ARE", not how you wish they "Would be"!
He has done all the above!
Only he and his wife can say if it has been worth the effort or not.
I think they are getting used to "How Things Work, or, Don't Work" here in, "Haiti East"!
"Good Job "HR"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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[windeguy]

HR got that Forex trade in just in time. For the past three months the Looney has been under the US dollar, which makes it even worse for changing Canadian dollars in the DR.