internet banking

Rep Dom

Bronze
Dec 27, 2011
1,237
0
0
Hi everyone,
Im looking for a DR bank which works the best with internet banking.
That means to be able to check account with internet and eventually transfer money from my occount here to my account abroad...
Which bank would you recommend...
:)
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
Banco Popular is the best with Internet Banking, but unfortunately no wiring abroad by internet. You will need to go to the bank for that still.

They have a well working site and iPhone / Android app. You'll get a key generator for security, not the best security in the world, but I haven't had any problems. The average dominican (with a bank account) brings the key generator on his keychain. But they also shout their PIN number to everyone who wants to hear it.
 

jinty05

Bronze
Feb 11, 2005
884
7
38
You need to maintain a $500 balance and have at least 1 transaction a month. Sounds crazy but you transfer ?10 to your peso account and then return the same $10 to your dollar account.

Failure to this will result in an $18 admin fee.

Whats the minimum balance to not have fees in a Popular dollar account?
 

william webster

Platinum
Jan 16, 2009
24,233
928
113
Progreso is a good bank but it, too, has no outbound wire feature on line.

Actually, ScotiaBank Canada has none either, nor TD in the USA (my banks)

Europe and some other islands offer the service.
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
You need to maintain a $500 balance and have at least 1 transaction a month. Sounds crazy but you transfer ?10 to your peso account and then return the same $10 to your dollar account.

Failure to this will result in an $18 admin fee.
Not for a dollar savings account at Popular. Only requisite is the USD500 minimum, you fall below and they charge you USD10 / month (you can fall below in a month without cost but have to fill it up before the end of that calendar month). No minimum transaction requirement.
 

josh2203

Bronze
Dec 5, 2013
783
55
48
I have sent quite a few wires abroad (to US and to EU) via Banreservas, and echoing others, as far as I know, only possible personally, but actually a transaction to abroad I prefer speaking personally with a clerk, for safety/security reasons. I don?t trust too much the functionality of websites here in this sense.

I filled out a form with the clerk, it was stamped and signed in front of me, they asked me repeatedly to confirm that every detail was correct, and only then they forwarded it to Santo Domingo, which within 24 hours carried out the transaction. The funds disappeared immediately from the account, and the recipient confirmed me that they had received it always within the next 48 hours.

I have done the following a few times recently, to save: Put pesos to a prepaid local credit card, which is linked to PayPal, send funds from that PayPal to another, which is linked to my foreign account, and withdraw the funds from that PayPal to my own account abroad.

I haven?t yet had the time to do the exact math, but roughly, the losses are not that significant.
 

IEatTravelnCode

New member
Oct 29, 2014
246
0
0
The best Internet Banking platform is without a doubt, Banco Popular Dominicano, they even have app for Android, iPhone and Blackberry
 

william webster

Platinum
Jan 16, 2009
24,233
928
113
Only recently have been able to wire myself.... by internet.

It's a dream......... $15 per wire, regardless of amount sent.......

Not a bank in RD.... elsehwere
 

josh2203

Bronze
Dec 5, 2013
783
55
48
Banco Santa Cruz, if am am not mistaken. If we are talking about Visa debit card...
Not the same thing.

Debit card is offered by various banks here, it?s attached to your cuenta corriente/ahorros, and as far as I know, cannot be used exactly as a credit card in all transactions. Although things change here if it specifically is labeled as Visa or Mastercard Debit card.

Prepaid credit card is not attached to any account, and unless the vendor specifically declines "prepaid" cards (car rental companies often do not want this, I have seen...), can be used exactly as a normal credit card.
 

william webster

Platinum
Jan 16, 2009
24,233
928
113
A debit card has access to your accounts and any funds therein.

A prepaid card only has whatever amount you have transferred to it.
 

davetuna

Bronze
Jun 19, 2012
1,074
0
0
Cabarete, Dominican Republic
A debit card has access to your accounts and any funds therein.

A prepaid card only has whatever amount you have transferred to it.
the advantage if this is that if someone gets your prepaid card, or those people up the line in the system, could only take the money which is credited on your card, as opposed to cleaning out your account with the debit card......