Haha...until now people has lost more money in banks in the developed world than in DR. But then again, my opinion is you should be aware you could loose your money if you put it in a bank (any bank). Just as you can loose it when you store it below your bed, in your matress, in a hole in your garden.
- Thread starter AlterEgo
- Start date
Banco Peravia Closing
Haha...until now people has lost more money in banks in the developed world than in DR. But then again, my opinion is you should be aware you could loose your money if you put it in a bank (any bank). Just as you can loose it when you store it below your bed, in your matress, in a hole in your garden.
The FDIC began insuring deposits in 1934. I think it is more accurate to say that the Great Depression lead to that after many banks had failed.
I presume your cheque is in Canadian $. What kind of exchange rate does the Dominican bank give you here to deposit the cheque into your USD savings account? I am going to try that with my Scotia Bank accounts!
I have a relationship with a finance house here. I write them a check on my US bank on a Monday and they send it to Florida via their courier company. It's posted in my online account as paid within 3 days. I pick up the cash on the following Monday.
Fee = zero
Their exchange rate is competitive.
I had a peso savings account and a dollar savings account here that I used for short term operating expenses but I stopped using them years ago because of their ridiculous fees.
Fee = zero
Their exchange rate is competitive.
I had a peso savings account and a dollar savings account here that I used for short term operating expenses but I stopped using them years ago because of their ridiculous fees.
In an ideal world, they would offer Gabriel Jimenez amnesty in exchange for proof of the people he paid off in the financial field here. Then we would make a public example of those officials.. maybe if the same people that were paid off weren't cousins/brothers/best friends of the people that are responsible for the legislative actions that would happen (in some cases are even the same people lol), but in the current system, hell no.. Who the hell is gonna prosecute their brother, best friend, spouse over some payoffs when you know that money trickled back to you someway anyways.. People always talk about corruption like it's some random people paying off random people and that being how everything gets hushed hushed.. Nah, it's all family and people who rely on the corruption to keep afloat, without it they would crumble because they offer no real value to society.
The way I live is I just accept the system as is and try to benefit from it as much as I can.. I don't burn bridges or stick my neck out there to get cut off.. I'm too busy having fun with life/family to try and change the world for other people.. what a rant for 8am lol.
it's not even this, you know... people talk about corruption like it's something that happens deep within the world of politics and banking. but corruption starts with small folks: paying off the police to avoid red light, paying for faster service, slipping few hundred pesos at the airport and so on. everyone does it. no one really wants it to stop because it's inconvenient.
My conversion to USD is done at home. It is a USD cheque that I post here for deposit. I don't have to do it that way, but for now I wish to avoid the whole CDN dollar thing here in the DR.
Mauricio,
I can't find fault with that statement. At home my deposits are Govt. insured for what that's worth. Here, it's depositor beware. I would be more concerned with being able to a substantial amount out of the DR if I needed to, rather than losing it due to a bank failure or some such calamity although not out of the realm of possibility as you say.
I can't find fault with that statement. At home my deposits are Govt. insured for what that's worth. Here, it's depositor beware. I would be more concerned with being able to a substantial amount out of the DR if I needed to, rather than losing it due to a bank failure or some such calamity although not out of the realm of possibility as you say.
interesting news
Banks chief ‘protected’ execs fled with US$22.0M
Santo Domingo.- National District prosecutor Yenny Berenice Reynoso on Thursday revealed that the Banks Superintendence had prior knowledge of the numerous complaints filed by customers against the executives of the failed bank Banco Peravia, and becomes yet another embarrassment for president Danilo Medina’s scandal-fraught Administration.
Reynoso tweeted that the Banks Superintendence had asked for more time before making public the complaints filed against Peravia bank president Jos? Lu?s Santoro and vice president Gabriel Arturo Jimenez Aray, who had left the country the same day of the banks regulator proceeded to shut down its operations.
For TV SIN news commentator Marino Zapete, the Banks Superintendence “protected those people,” of the Peravia bank, who managed to flee despite the alleged fraud reportedly for more than RD$1.0 billion (US$22.0 million).
Banks chief ‘protected’ execs fled with US$22.0M
Santo Domingo.- National District prosecutor Yenny Berenice Reynoso on Thursday revealed that the Banks Superintendence had prior knowledge of the numerous complaints filed by customers against the executives of the failed bank Banco Peravia, and becomes yet another embarrassment for president Danilo Medina’s scandal-fraught Administration.
Reynoso tweeted that the Banks Superintendence had asked for more time before making public the complaints filed against Peravia bank president Jos? Lu?s Santoro and vice president Gabriel Arturo Jimenez Aray, who had left the country the same day of the banks regulator proceeded to shut down its operations.
For TV SIN news commentator Marino Zapete, the Banks Superintendence “protected those people,” of the Peravia bank, who managed to flee despite the alleged fraud reportedly for more than RD$1.0 billion (US$22.0 million).
A little more than a year ago:
I hope some DR1ers took my advice!
Everything still stands, except that Leon has now merged with BHD.
http://dr1.com/forums/living/138957-what-bank-you-trust-more.html#post1347143NALs said:
I hope some DR1ers took my advice!
Everything still stands, except that Leon has now merged with BHD.
According to an (international) study BHD (before the merger) was the safest bank in DR. Popular came third or fourth.
I'm not unhappy with populars service but they do make a lot of mistakes and have many service hick ups. BHD I never liked because of their old fashioned way of working and bad internet banking possibilities (but as the study said, seem to be the safest bank). I have heard many good things about Banco Leon. I think that once the activities of BHD and Leon have succesfully been integrated I'll make the switch to BHD Leon.
everyone please watch this report really happen to bank. start 4:48
https://www.youtube.com/watch?v=hTHjrc3FMnI&list=UUZdhv4ZLO24lKPSjqoChhKw
https://www.youtube.com/watch?v=hTHjrc3FMnI&list=UUZdhv4ZLO24lKPSjqoChhKw
Who says you can't find a "Laundrymat" in the DR????????????????
"Strong, Like Baninter"!!!!!!!!!!!
NOT!!!!
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"Strong, Like Baninter"!!!!!!!!!!!
NOT!!!!
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Today's DR1 News:
Banking Superintendence officials investigated in Peravia Bank collapse
The Superintendence of Banks is investigating 13 of its own officials in relation to the collapse of Banco Peravia. The prosecutors want to know why the officials in charge of monitoring the bank's operations did not report any irregularities. Socorro Minerva de la Cruz, Mario Jose Marrero Gonzalez, Cristina de la Ruz, Maria Valdez, Esther Noemi Pena, Tamara Josefina Leal Lopez, Angela Matos, Melchor Cabral, Charlene Cohen, Eladio German, Miguel Angel de la Cruz, Rosa Altagracia Gonzalez Perez and Giselle Ivelisse Castillo have been called in for questioning.
Banking Superintendence officials investigated in Peravia Bank collapse
The Superintendence of Banks is investigating 13 of its own officials in relation to the collapse of Banco Peravia. The prosecutors want to know why the officials in charge of monitoring the bank's operations did not report any irregularities. Socorro Minerva de la Cruz, Mario Jose Marrero Gonzalez, Cristina de la Ruz, Maria Valdez, Esther Noemi Pena, Tamara Josefina Leal Lopez, Angela Matos, Melchor Cabral, Charlene Cohen, Eladio German, Miguel Angel de la Cruz, Rosa Altagracia Gonzalez Perez and Giselle Ivelisse Castillo have been called in for questioning.