How to open a checking account?

rgijzen

New member
Feb 24, 2007
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As a non Dominican resident, I would like to open a personal checking account in the Domrep next month. I will only be there for two days. What documentation (if any except from my passport) do I need to do so?
What local bank offers:
ATM Debit cards that can be used outside the Domrep?
Internet banking, or at least the possibility to view my balance outside the Domrep?
Thank you for your help.
R o n
 

Bob K

Silver
Aug 16, 2004
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A leetter of introduction from you bank back home helps. Letter just needs to say you are in good standing.
Yes you can get a debit card and a credit card, however it takes a few weeks to get them
Internet banking??? they are talking about it and have very limited access as of this time
Hope that helps

Bob K
 

rgijzen

New member
Feb 24, 2007
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Thank you Bob. What bank would you recommend? What bank has very limited access as of this time? And do you or someone else know what the minimum deposit to start with is? Thanks again.

R o n
 

DavidZ

Silver
Aug 29, 2005
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www.vipcigartours.com
Scotia Bank gives you an ATM card on the spot... I believe the minimum deposit is 1000 pesos. I'm pretty sure BanReservas also gives you a card when opening the account and has a low minimum. Banco Popular also gives you the card right away, their minimum in 3000 pesos. All this info is for the bank's savings accounts, but I assume it's the same for checking. Keep in mind that as of now, you cannot have a US dollar checking account, only pesos...but you can have a US dollar savings account...
 

Bob K

Silver
Aug 16, 2004
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It is the debit card that you can get right away, the credit card takes a week or two. Not sure on which bank has internet access. We use Santa Cruz
 

rgijzen

New member
Feb 24, 2007
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Someone told me that the ATM debit card issued by Banco Popular could only be used within the DomRep and that I would have to use a credit card to withraw money outside the DomRep. Can anyone confirm or deny this?
R o n
 

rick3993

New member
Sep 5, 2006
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reply to checking savings etc

We opened accounts last year at Banco Popular in the Malecon Center. Atm card, checks, and an account in dollars. Also we can view all activity and balances at popularenlinea.com at any given moment.
 

ElvisNYC

New member
Jan 27, 2006
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A leetter of introduction from you bank back home helps. Letter just needs to say you are in good standing.
Yes you can get a debit card and a credit card, however it takes a few weeks to get them
Internet banking??? they are talking about it and have very limited access as of this time
Hope that helps

Bob K
So it's possible to get a credit card account just by opening a checking account ? Would it be a secured credit card, based on the balance amount of the checking account ?
 

rgijzen

New member
Feb 24, 2007
5
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We opened accounts last year at Banco Popular in the Malecon Center. Atm card, checks, and an account in dollars. Also we can view all activity and balances at popularenlinea.com at any given moment.
Is the Malecon Center close to the Jaragua hotel?
 

Bob K

Silver
Aug 16, 2004
2,500
89
48
So it's possible to get a credit card account just by opening a checking account ? Would it be a secured credit card, based on the balance amount of the checking account ?
Our card had to be securred by a CD at the bank. After one year they said they would release the CD. In the mean time it will earn interest for us. This is even after having an account there for a year. Hope this helps.

Bob K
 

Capt. Rob57

New member
Mar 22, 2006
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Bank Accounts

You cannot open an account in the D.R. without a personal guarantor and you will need a letter from your bank in the U.S. stating that your funds are legit. All of this is due to the new regs. for carfta and international banking laws. I have lived here more than ten years and last year went to open a new account at BANCO POPULAR, had to get my ex-mother-in law to help me open my account. So many people post responses and do not know what they are talking about. Just go tho the bank and ask them what is needed.