Do All Of The Banks In DR

[jimmythegreek]

Have the charge of $10, if there is no movement in a USD savings account after 6 months?

Under their list of charges for the account, they do not list this $10 fee...at least in Banco Popular and Banco Santa Cruz, I do not see it listed under the charges for the account. Only charges such as under the minimum and if you close the account with 1 to 12 months.

Has anyone had any experience with this-especially I would like to know if Banco Santa Cruz has this charge as I am looking to open a USD savings account there.

Thanks.

 

[jimmythegreek]

Also, forgot to add that a representative at BP told me all the banks have this charge as it is a regulation. I figure this is a charge set by the Superintendent of the Banks, but not absolutely certain that is the case.

 

[AlterEgo]

BHD did not charge us this, but they did lock the account, and it was a two day nightmare to reopen it. Believe me, we’d have paid a lot more than $10 not to go through that.

 

[lifeisgreat]

Banco Santa Cruz never charged me inactivity fee, only once $10 dollar fee for having to low $$ in account , they do have minimum needed or charge monthly fee .. my account usually goes inactive 6-8 months never locked or charged ..

 

[JD Jones]

Have any of you visited your bank and notified them ahead of time the account will be inactive? Bank managers have the authority in many cases to waive fees.

 

[Riva_31]

As far as I know about Popular Bank that is the one I know charge the 10.00 fee mothtly only if your balance is under 500.00 dollares they start to charge you the fee. If your balance is equal to 500.00 or higher they do not charge you.

 

[jimmythegreek]

As far as I know about Popular Bank that is the one I know charge the 10.00 fee mothtly only if your balance is under 500.00 dollares they start to charge you the fee. If your balance is equal to 500.00 or higher they do not charge you.

Yah, but BP will charge you $10, if there is no activity in the account for 6 months.

 

[william webster]

So create activity.... deposit $100, transfer $$ to pesos.... anything

 

[Riva_31]

Yah, but BP will charge you $10, if there is no activity in the account for 6 months.

Deposit 50.00 dollars every 5 months.

 

[jimmythegreek]

So create activity.... deposit $100, transfer $$ to pesos.... anything

Problem is that it's difficult to know exactly the cut off for the 6 months, so you have to do a transaction at least every 3 months to be certain. Considering all the other crap a person has to deal with daily and just the general lack of benefits to the customer in these accounts, it's an inconvenience at best. Will be searching for another bank that doesn't have this charge-from what it looks like Banco Santa Cruz might be a possibility.

 

[william webster]

I can’t help there... I use Progreso but am never inactive....payrolls keep it active

 

[AlterEgo]

So create activity.... deposit $100, transfer $$ to pesos.... anything

Yup. We left cash (dollars) with my BIL, when he does his banking, he’ll deposit $20 every month into out account. We will NOT go through that unlocking drama again.

 

[jimmythegreek]

Yup. We left cash (dollars) with my BIL, when he does his banking, he’ll deposit $20 every month into out account. We will NOT go through that unlocking drama again.

Maybe it is better to use a cambio? I remember Cris Colon (RIP) use to say that this was a far better option to write checks at a cambio vs. transfer to bank account. I have a MoneyCorps right near me and was thinking to start writing checks from US account there to get larger sums of cash, but not certain about the fees and how this works exactly.

 

[Aguaita29]

Banreservas also charges $USD10 for having your balance under the minimun. They also charge for inactivity, but I don't recall how many months it takes for an an account to be considered inactive.

 

[Dr_Taylor]

Have the charge of $10, if there is no movement in a USD savings account after 6 months?

Under their list of charges for the account, they do not list this $10 fee...at least in Banco Popular and Banco Santa Cruz, I do not see it listed under the charges for the account. Only charges such as under the minimum and if you close the account with 1 to 12 months.

Has anyone had any experience with this-especially I would like to know if Banco Santa Cruz has this charge as I am looking to open a USD savings account there.

Thanks.

Banreservas charges USD$10 for no movement within six months, and it appears on its schedule of charges.

 

[Peterj]

I have a savings-account with Banco Popular in US$ and I am using it almost daily...and they charge me also the US$ 10.
(There is more than US$ 500 at all times)

I just accept it; going to the bank, wait for hours just to hear the usual BS and at the end nothing changes, is not worth it, at least not for me...