bank recommendation

nekokatt

Active member
Feb 25, 2012
84
28
28
Its good to have at least two bank accounts in case something goes wrong with one of them

I'm long time with Scotiabank and they're good.

Any recommendations please? (in D.N.) How is Banco Popular? ease of opening? service?

And the procedure is typically a personal or professional reference, bank reference, source of income (such as tax return) ?

muchas gracias
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
Popular ATMs can be be used with a Scotia card - if that's of any use to you

I don't see the need for 2 banks... redundant, and possibly twice the headaches.

If it ain't broke.......
 

Yourmaninvegas

Well-known member
Feb 16, 2016
3,292
2,589
113
-
Its good to have at least two bank accounts in case something goes wrong with one of them

I'm long time with Scotiabank and they're good.

Any recommendations please? (in D.N.) How is Banco Popular? ease of opening? service?

And the procedure is typically a personal or professional reference, bank reference, source of income (such as tax return) ?

muchas gracias
I whole hardily agree with you!
As for those who don't see then maybe they should have their eyes checked.
But that might be redundant as they are already blind and just telling us for our general information.

If you are not incurring any unwanted fees by failing to keep your money moving then having a plan B is always good.
For me that means a second bank account at a different bank than the one that I am using.
I have a dominican friend that has had their money taken from their account by the same bank I am using.
I would hate to have all my funds locked up because someone on the island suddenly has a problem with me.

Right now I am also searching for another bank as the one I am using now I am not happy with.
So far the request has been a document for the source of the funds you plan on using to make your deposit and a letter from your current bank that shows three months of your account status.

I am going with BHD. But I also applied for an account with Scotiabank and they gave me the run around. Maybe I am not throwing around the money like some of the BIG spenders up in here. I'm just a poor gringo negro trying to make in a Dominican world on EAST SIDE!
 

MariaRubia

Well-known member
Jun 25, 2019
2,348
3,141
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Internet banking on Popular is very good, you can pay pretty much anything on there. Their customer service is worse than Scotiabank IMO though.
 
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an.coco

New member
Sep 26, 2020
13
3
3
Santo Domingo
Banco Popular, BHD, Alaver, and Cooperativa Impressarial, inc. are all good. first 3 are all typical banks. the coop is atypical --- co-owned by all the people who have bank accounts there. It pays higher interest on money in the account but far fewer branches than the others. Alaver probably has fewer banches than BanPop and BHD but all 3 are modern private banks with modern processes. BanReserva is government owned and has antiquated processes that take far too long and use tons of paper and their queues are terrible. Which ever you choose, service will depend on who you are (who you know, how much money flows through your account) and the branch you use (quality of bank managers varies from branch to branch), so there is no actual "best" bank; performance varies between banks and branches because of too many variables. Based on 15 years of banking here, I prefer Banco Popular, though Scotia bank is very much in my good books apart from their horrible app. BHD would be my choice of where to go if I left BanPop. Cooperativa Impressarial is where I keep spare funds but they have very few branches and I don't even know if they have an app (since I don't use them for daily banking). Expect NO loyalty from any bank. If you get lousy service, move to another bank (not another banch, a different bank altogether) because staying gets you nothing and closing your account is a black mark against the branch manager.
 

cavok

Silver
Jun 16, 2014
9,721
4,179
113
Cabarete
Hands down, Banco Popular is the hardest bank and requires the most info for a foreigner to open an account . It's also one of the easiest banks along with Banreservas for Dominicans to open account, which means the branch office will frequently be busy and you'll be waiting in line.

It's fairly easy to open an account with Banco Santo Cruz. Next choice would be BHD.
 

NALs

Economist by Profession
Jan 20, 2003
13,602
3,252
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Just keep in mind that Banco Popular charges fees for just about everything. If they could find a way to charge a fee for when you inhale and more fees when you exhale on their property, they would do that too. lol
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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SKY

Gold
Apr 11, 2004
13,574
3,706
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Banco Popular could be the most aggravating and petty bank in the DR. I know a friend that has a Dollar account and wanted to withdraw $6,000 US. He had to go to two different branches to get it. BHD you can withdraw $6,000 US from any teller on the spot, and more. BP nickels and dimes you. There are much better banks to hold your money............

Not to mention BP is jammed with people all day. Banreservas is also jammed all day. Make your own choice though.
 
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CristoRey

Welcome To Wonderland
Apr 1, 2014
11,863
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Banco Popular could be the most aggravating and petty bank in the DR. I know a friend that has a Dollar account and wanted to withdraw $6,000 US. He had to go to two different branches to get it. BHD you can withdraw $6,000 US from any teller on the spot, and more. BP nickels and dimes you. There are much better banks to hold your money............

Not to mention BP is jammed with people all day. Banreservas is also jammed all day. Make your own choice though.
If OP is willing to tolerate extremely rude bank tellers who act like you are working for them, not the other way around, along with
long lines (especially around the 1st and 15th) than I recommend opening an account with Banreservas. If not than I recommend
Banco Santa Cruz.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
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Banco Popular could be the most aggravating and petty bank in the DR. I know a friend that has a Dollar account and wanted to withdraw $6,000 US. He had to go to two different branches to get it. BHD you can withdraw $6,000 US from any teller on the spot, and more. BP nickels and dimes you. There are much better banks to hold your money............

Not to mention BP is jammed with people all day. Banreservas is also jammed all day. Make your own choice though.
That can happen - often sometimes-
The gov't collects the US hard currency - banks don't carry large amounts of it

If you want 'a chunk'... best to advise them in advance and they will get it

I have had this happen to me.... now, I always alert them
 

D'Arcy (Apostropheman)

Karma, it's worth waiting for ;)
Apr 10, 2022
553
521
93
Here and there
If you have a go postal personality type do NOT bank with BanReservas. I'm with eSKY from PC! BHD León is the way to go.
Banco Santa Cruz was the easiest in my experience and they have many locations now https://sucursales.net/banco-santa-cruz-dominicana/

If there is one near enough to you that would be my recommendation. I've never banked with BHD though and if I didn't already have accounts I'm not sure that I'd bother with a Dominican Bank.
 

DR fan1990

Well-known member
Sep 22, 2020
653
707
93
Canada
Banco Popular could be the most aggravating and petty bank in the DR. I know a friend that has a Dollar account and wanted to withdraw $6,000 US. He had to go to two different branches to get it. BHD you can withdraw $6,000 US from any teller on the spot, and more. BP nickels and dimes you. There are much better banks to hold your money............

Not to mention BP is jammed with people all day. Banreservas is also jammed all day. Make your own choice though.

My question is why would anyone even need to use US currency in the DR? What for? Pesos not good enough ?
 

chico bill

Dogs Better than People
May 6, 2016
12,725
6,464
113
Banco Santa Cruz has gone downhill. At least the Sosua branch.
It's harder to get customer service and their ATM is out of service frequently.
I'm still fuming from the 8000 pesos they deducted from my account that was never dispensed from their ATM.
It seems BHD has its two ATMs always both working.
BSC is quick for wire transfers but perhaps they all are now?
 

Manuel01

Well-known member
Apr 1, 2009
841
882
93
all but popular. In other countries, people get arested for much less than what they are doing on a daily base.
I recomend BHD.
 
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RDKNIGHT

Bronze
Mar 13, 2017
2,799
1,505
113
I whole hardily agree with you!
As for those who don't see then maybe they should have their eyes checked.
But that might be redundant as they are already blind and just telling us for our general information.

If you are not incurring any unwanted fees by failing to keep your money moving then having a plan B is always good.
For me that means a second bank account at a different bank than the one that I am using.
I have a dominican friend that has had their money taken from their account by the same bank I am using.
I would hate to have all my funds locked up because someone on the island suddenly has a problem with me.

Right now I am also searching for another bank as the one I am using now I am not happy with.
So far the request has been a document for the source of the funds you plan on using to make your deposit and a letter from your current bank that shows three months of your account status.

I am going with BHD. But I also applied for an account with Scotiabank and they gave me the run around. Maybe I am not throwing around the money like some of the BIG spenders up in here. I'm just a poor gringo negro trying to make in a Dominican world on EAST SIDE!
good to see you back... I don't keep much money in the banks here for that reason (funds locked)