Banco Popular in DR same as USA?

[johne]

Can someone verify if I am dealing with BP in USA is it the same as BP in the DR-- wire transfers, etc.)
ie: Citibank in DR name only as Citibank in NYC. (as I understand it)
Thanks in advance

JOHN

 

[Hillbilly]

No, unless it says Banco Popular Dominicano
Banco Popular is from Puerto Rico/

HB

 

[Chris]

Two banks but a close relationship in terms of wire transfers. From the DR end, once it is set up properly, transactions are seamless.

 

[JRR]

same name,

Different corporations same as Scotia bank or Wachovia here.

 

[Robert]

We use BPD in NY (FDIC insured), they are owned by Banco Popular in the DR.

BPD Bank

 

[gibbs]

[We use BPD in NY (FDIC insured), they are owned by Banco Popular in the DR.]

So you keep your money in the FDIC insured bank and transfer to BP DR when needed?

 

[johne]

[We use BPD in NY (FDIC insured), they are owned by Banco Popular in the DR.]

So you keep your money in the FDIC insured bank and transfer to BP DR when needed?

I get the feeling you are surprised by this. Why??

 

[MrMike]

Another benefit is that it is generally hard to open a corporate bank account for an offshore corporation in the US, but you can do it with Banco Popular NY.

 

[johne]

Another benefit is that it is generally hard to open a corporate bank account for an offshore corporation in the US, but you can do it with Banco Popular NY.

Mike: can you expand on this ? Where is the offshore corp.? Why was it easier at BP in NY? And... anything else you would like to add.
Thanks,
JOHN

 

[Broward]

[We use BPD in NY (FDIC insured), they are owned by Banco Popular in the DR.]

So you keep your money in the FDIC insured bank and transfer to BP DR when needed?

How are the funds moved from BPD to Banco Popular,
Are there wire fees or is it an ACH or book entry.
How long does it take?
Any fee's? Is it available right away?

 

[David34]

I would agree. It's best to keep yopur money in BPD then wire what you need to BP in DR.