easy bank account with BanReservas

VJS

Bronze
Sep 19, 2010
846
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I have recently lost my ATM card and decided to open a DR bank account to be able to wire in cash. Walked into the closest bank which happened to be BanReservas and asked what documentation they need (I am not a DR resident btw). Was expecting a long list of IDs, bank references etc. but they said just a passport would do and handed me a 2 page form. I filled it out and 45 minutes later walked out with two accounts: USD and pesos. Completely unexpected and very nice experience overall.
 
Jan 17, 2009
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We open ours last year but were required to give them two Dominican citizen references. It took about a week to get our peso and dollar accounts open. In this particular branch of Banreservas, the manager and other emloyees know us as we had acccounts in the past. We are both residents.
 

southwardbound2

New member
Jun 5, 2008
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I have recently lost my ATM card and decided to open a DR bank account to be able to wire in cash. Walked into the closest bank which happened to be BanReservas and asked what documentation they need (I am not a DR resident btw). Was expecting a long list of IDs, bank references etc. but they said just a passport would do and handed me a 2 page form. I filled it out and 45 minutes later walked out with two accounts: USD and pesos. Completely unexpected and very nice experience overall.
Which BanReservas branch/city was this? They sound like they would be nice to do business with rather than the one Expat-in-Cabarete used; having all that extra hassle if they already know you is just obnoxious.
 

VJS

Bronze
Sep 19, 2010
846
0
36
Which BanReservas branch/city was this? They sound like they would be nice to do business with rather than the one Expat-in-Cabarete used; having all that extra hassle if they already know you is just obnoxious.

It was in Santiago, on la 27 de febrero, about 100 meters west of avenida metropolitana - towards the city center (los jardines area). The form I filled in did include 3 phone numbers for local references. I deposited min balances for the accounts (300 USD and 500 pesos), chose the pin for the card and was told the accounts will be functional in 24 hours.

Last year I was thinking to open a bank account with Scotia Bank, and 3 different staff members told me 3 different versions of what docs I need to bring. When I showed up with the docs the manager told me that she was not allowed to open bank accounts for Canadian citizens! It was the worst bank ever in Canada and I didn't have much luck with them in RD either. Then I inquired at Banco Popular and was given a loooong list of what I need to bring them as a non-resident to open a bank account. So in contrast to all that, BanReservas today was just great.
 
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goldenjoe

New member
Nov 4, 2008
12
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A question please.
Does anyone have a sample of a reference letter ? I'm not fluent in spanish, if it was french or english there would be no prob.
I'm about to open a Bank Account in Santiago, haven't decided witch bank yet. Got the Info from BP, but BR looks better to me ( first Impression )...
Thank you
 

VJS

Bronze
Sep 19, 2010
846
0
36
Not sure about other banks, but BanReservas only asked me to provide 2-3 names and phone numbers, that's all. I don't think they ever called any of them either.
 

DR_Guy

Bronze
Feb 17, 2010
883
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Been banking with Banreservas for 4 years. Only gripe with them it takes an extra day to receive a wire. I suppose because they use an intermediary bank. Also, go the customer service person and ask for a preferential rate when changing dollars for your peso account. She will email and they will come back with .25 to .50 more pesos then the banks posted rate. At least at my bank they do.