Banco Popular v BHD

[JD Jones]

Besides the inconvenience of having to visit BHD every so often when they decide to lock my account when I decide to go out every so often on a weekend & card gets flagged. No complaints so far with them as a customer

Try advising them before you go.

 

[SKY]

BHD will lock your account if there’s no activity in any 90 day period, if you’re not a full time DR resident be forewarned. We leave cash with a brother who deposits $10 a month into our account when we’re away.

You only need to transfer money on your app from anywhere from one account to another every so often. . Like US to peso for example. That will keep both active in BHD....................No need to send someone to the bank...............

 

[AlterEgo]

You only need to transfer money on your app from anywhere from one account to another every so often. . Like US to peso for example. That will keep both active in BHD....................No need to send someone to the bank...............

We only have a dollar account there. Brother uses same bank so he deposits whenever he goes.

 

[SKY]

We only have a dollar account there. Brother uses same bank so he deposits whenever he goes.

OK, but next time you are here you should open up a peso account with a Debit card. Comes in handy. Can also pay bills here that way.............Also he can put the $10 in your account with the app now..............

 

[JLSawmam]

Good advice from Sky. The bank likely will want the same documents to open a second account as they did for the first one, so it would be good to find out what is required and gather them beforehand.

 

[johne]

Good advice from Sky. The bank likely will want the same documents to open a second account as they did for the first one, so it would be good to find out what is required and gather them beforehand.

In my case...not BP I have both. I asked for both types and that's what I got. In addition my wife had a peso account at another bank. After a while, when everything was cool with my accounts we opened a peso account for her at my bank. And after another while I opened a CC at my bank for a special discount I would get on a particular type of purchase (weekly).
Neither one of us use ATMs. Never, as it is really not necessary.I fund the dollar account with a check written to myself against a account in the states and within 4 days I receive the DOLLARS in my DR bank dollar account. At that point I can distribute:1) change to pesos.2) transfer to wife for operation of household 3) Draw cash out for everyday use in peso or dollars.

Note: I pay NO fees for anything. I use NO ATM cards. I have great banking relationships on BOTH ends. (Here and states).
My banking in his country DIDN't start out like this. BUT, I cut that cancer out immediately when I saw how BP was on the top of their game and I wasn't.

 

[SKY]

Good advice from Sky. The bank likely will want the same documents to open a second account as they did for the first one, so it would be good to find out what is required and gather them beforehand.

If you have ANY contact with someone in the bank nothing will be necessary but an initial deposit. They know you already. Same as getting a card...................You are already an account holder.......

 

[drstock]

If you have ANY contact with someone in the bank nothing will be necessary but an initial deposit. They know you already. Same as getting a card...................You are already an account holder.......

Nobody at my UK online bank knows me, but I can open a new account there in minutes, I just don't see why they have to make it so difficult here. Maybe it's different for Dominicans, although I do have legal Residency here.

 

[webmacon]

I would top that, all banks are garbage here.

I had several and decided not to have any anymore, living much more relaxed since then.

One more time. Banco Popular is and has always been "Straight Garbage". To be avoided at all costs................

 

[Uzin]

BHD will lock your account if there’s no activity in any 90 day period, if you’re not a full time DR resident be forewarned. We leave cash with a brother who deposits $10 a month into our account when we’re away.

That's good to know, I had no idea...!

I'm away for long periods at a time, 2 years during Covid time, but I pay Edenorte every month and top up my Claro sim card via their website while abroad, and luckily never had issue...

 

[JD Jones]

If you have ANY contact with someone in the bank nothing will be necessary but an initial deposit. They know you already. Same as getting a card...................You are already an account holder.......

So true. My account manager even calls me to ask if everything is OK, interested in certificates, etc.

I'd like to think I'm important, but don't fool yourself, they're really just checking to see if I'm still alive.

I'm sure they'd like to get their hands on my funds if I'm gone.

 

[johne]

I would top that, all banks are garbage here.

Sorry to hear that.I feel your pain but "All" is a powerful word.

 

[johne]

So true. My account manager even calls me to ask if everything is OK, interested in certificates, etc.

I'd like to think I'm important, but don't fool yourself, they're really just checking to see if I'm still alive.

I'm sure they'd like to get their hands on my funds if I'm gone.

Same here. I get text from one of the managers if I am even a day late on my CC payment. In addition. I get a text message regarding EVERYTHING I'v done at the bank or with the bank CC. Same day.
No problems what- so-ever.

 

[El Hijo de Manolo]

Nobody at my UK online bank knows me, but I can open a new account there in minutes, I just don't see why they have to make it so difficult here. Maybe it's different for Dominicans, although I do have legal Residency here.

I am saddened by your continual lack of general and fundamental knowledge of the DR, where you are supposedly a legal resident. Since the early 2000s and then revised again in 2017, the DR has applied stricter updates to anti money laundering laws, especially aimed to combat drug trafficking and other RICO style business dealings, along with individual banking. You may be "collecting a pension" but there are many individuals and small businesses engaged in various RICO activities, especially tax evasion. The DR (esp private banking institutions) is under the gun from uncle Sam as well, as we all know, to report any significant financial positions of US persons. They [DR] clearly don't need to be on the business end of any sanctions. Stock, these are fundamental concepts and well known regulations and I continue to be saddened by your perplexity of the environment in which you live.

If we look at the record: 2009, still not that difficult to open an account. 2017 and up, much, much more difficult.

 

[Uzin]

I am saddened by your continual lack of general and fundamental knowledge of the DR, where you are supposedly a legal resident. Since the early 2000s and then revised again in 2017, the DR has applied stricter updates to anti money laundering laws, especially aimed to combat drug trafficking and other RICO style business dealings, along with individual banking. You may be "collecting a pension" but there are many individuals and small businesses engaged in various RICO activities, especially tax evasion. The DR (esp private banking institutions) is under the gun from uncle Sam as well, as we all know, to report any significant financial positions of US persons. They [DR] clearly don't need to be on the business end of any sanctions. Stock, these are fundamental concepts and well known regulations and I continue to be saddened by your perplexity of the environment in which you live.

If we look at the record: 2009, still not that difficult to open an account. 2017 and up, much, much more difficult.

I know what you mean, but UK is far more strict in preventing money laundering and other dodgy dealings on their banking system, however, over there all data are online and linked up, so they can easily and quickly verify who you are and off we go...

Here some bank clerk with very little international banking experience looks at a copy of foreign bank statement, which can be faked in 5 minutes on Photoshop, and decides you are okay to open an account.

These days data and the inter-linking of data is the key to prevent fraud, not old fashion paperwork...!

 

[El Hijo de Manolo]

I know what you mean, but UK is far more strict in preventing money laundering and other dodgy dealings on their banking system, however, over there all data are online and linked up, so they can easily and quickly verify who you are and off we go...

Here some bank clerk with very little international banking experience looks at a copy of foreign bank statement, which can be faked in 5 minutes on Photoshop, and decides you are okay to open an account.

These days data and the inter-linking of data is the key to prevent fraud, not old fashion paperwork...!

True, the only financial dodgy dealings in UK belong to the Royals!

That said, the theme was drifting into the difficulty of foreign persons opening bank accounts in DR. Hence my input.

 

[cavok]

Neither one of us use ATMs. Never, as it is really not necessary.I fund the dollar account with a check written to myself against a account in the states and within 4 days I receive the DOLLARS in my DR bank dollar account. At that point I can distribute:1) change to pesos.2) transfer to wife for operation of household 3) Draw cash out for everyday use in peso or dollars.

BP is a rare exception in that case. Other banks take anywhere from 10 to 20 "working days" for cash to be available from a check you deposit. It's still an economical way to get dollars here. You just need to plan ahead.

 

[drstock]

I am saddened by your continual lack of general and fundamental knowledge of the DR, where you are supposedly a legal resident. Since the early 2000s and then revised again in 2017, the DR has applied stricter updates to anti money laundering laws, especially aimed to combat drug trafficking and other RICO style business dealings, along with individual banking. You may be "collecting a pension" but there are many individuals and small businesses engaged in various RICO activities, especially tax evasion. The DR (esp private banking institutions) is under the gun from uncle Sam as well, as we all know, to report any significant financial positions of US persons. They [DR] clearly don't need to be on the business end of any sanctions. Stock, these are fundamental concepts and well known regulations and I continue to be saddened by your perplexity of the environment in which you live.

If we look at the record: 2009, still not that difficult to open an account. 2017 and up, much, much more difficult.

I sorry that you are "saddened by my perplexity", which is just the sort of sarcastic comment I expect from you, but the point I was trying to make is that it is much easier for me to open a new account at my UK bank than my bank here. This despite, as Uzin said above, the UK having extremely tough anti-money-laundering regulations. I am not as clueless as you suggest and know all about the measures employed by the DR against money-laundering. I just think it's ridiculous that one particular bank here makes simple procedures so difficult, while another doesn't.

 

[JLSawmam]

If you have ANY contact with someone in the bank nothing will be necessary but an initial deposit. They know you already. Same as getting a card...................You are already an account holder.......

But where do we live?

 

[El Hijo de Manolo]

I sorry that you are "saddened by my perplexity", which is just the sort of sarcastic comment I expect from you, but the point I was trying to make is that it is much easier for me to open a new account at my UK bank than my bank here. This despite, as Uzin said above, the UK having extremely tough anti-money-laundering regulations. I am not as clueless as you suggest and know all about the measures employed by the DR against money-laundering. I just think it's ridiculous that one particular bank here makes simple procedures so difficult, while another doesn't.

Dont worry, next time Im in town I'll pick you up we can go to your place Mojitos for happy hour! Cavok and Windy said they're on board.