Banreservas in Spain / USA

NALs

Economist by Profession
Jan 20, 2003
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No. Only opening accounts. They say no deposits or withdrawals, but how does one open an account without depositing money??
They have to send it via the money transfers companies to their Banreservas savings account. Minimum of RD$300 to open a savings account.

They can also apply for home loans and car loans during the Banreservar car fairs, but only for homes and cars in the DR. The office in Madrid already has initiated applications to loans for over RD$30 million. A greater amount is expected for the NY office during the same length of time given that the Dominican community is bigger in NY.
 

NALs

Economist by Profession
Jan 20, 2003
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According to Andrés van der Horst, 6 of every 10 low cost homes/apartments bought in the DR are financed by Dominicans living abroad (NYC is ground central for this as there are more Dominicans living within that city and suburbs than anywhere else outside the DR.) What comes to mind are the Bisonó apartment complexes which tend be huge in the outskirts of GSD.


Ironically, he mentions this when he begins to talk about the Banreservas office in NYC (at the time of the interview it wasn't open yet) at 47:16. This podcast was aired about 4 days ago.
 

NALs

Economist by Profession
Jan 20, 2003
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113
The Miami office.

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JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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I wonder if there's a line to get in there too?
 

NALs

Economist by Profession
Jan 20, 2003
13,215
3,068
113
There is a Dominican consulate in Miami. Dominicans can't be two or three in that place.

The one in Los Angeles is different as that is the Dominican consulate basically for the entire west of the USA. California alone is huge, imagine the whole region.
 

Radical

Well-known member
Jan 5, 2021
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Dominicans refuse and/or have no clue about online banking. A typical working class will wait on line at the bank for an hour just to check their savings balance. Yes folks, believe it. Slowness at the tellers is also attributed to tellers having to explain a simple thing to a customer 10 different ways over 20 minutes. They will also be happy just to chit chat with you. When they are called to the counter, no one is ever even remotely prepared with the necessary documents/ID etc. This is an everyday occurrence folks. It's ALL the banks, not just BR. It's truly like every time is their first time going to the bank.

Banking in this country has got to be the most excruciating thing to do, period - I officially hate it to the bottom of the ninth
 
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