Money in Scotiabank

vandoo

New member
Feb 22, 2005
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Hi, I have not been going to the DR as often as I would like but still have a few thousand dollars (USD) in Scotiabank. I was wondering if the account can stay inactive for a very long time. I was once out of the country for a couple months and they deactivated it, only to reactivate it when I asked. This time I might not be able to get back down to the DR for a couple years. Will the money remain safe in Scotiabank (assuming there is not a crises) and will it contunie to earn interest?

Thanks for you help!
 

TEHAMA

New member
Feb 3, 2004
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I wouldn't leave my oldest pair of shoes in this Country, and expect to see them again!
TEHAMA
("ADD"ing today, see my thread in living)
 

christremain

New member
Aug 15, 2003
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I have been told

that if the account is innactive the funds are 'absorbed' by the bank.

Not confirmed this but more than one person has told me - seems starnge but hey !! Its the DR !!

CT
 

BushBaby

Silver
Jan 1, 2002
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www.casabush.org
I did not hear personally what "You were Told" so can not argue with your interpretation but suspect the person MEANT that there is a charge of RD $50 per month deducted from inactive bank accounts & this (in time) would deplete the account if not made 'ACTIVE' again!!

Vandoo,
I suggest you have a word with your local Bank of Nova Scotia branch & request they contact the branch you are using down here. I KNOW they are not the SAME bank - I believe that by decree banks in the DR have to be owned by Dominican operations (even though they can & DO have majority shares owned by outside influences), but influence by your local branch would most likely carry a whole LOAD of weight!! Discuss it with your local manager & see what he/she can come up with! ~ Grahame
 

canadian bob

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Jan 16, 2002
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vandoo said:
Hi, I have not been going to the DR as often as I would like but still have a few thousand dollars (USD) in Scotiabank. I was wondering if the account can stay inactive for a very long time. I was once out of the country for a couple months and they deactivated it, only to reactivate it when I asked. This time I might not be able to get back down to the DR for a couple years. Will the money remain safe in Scotiabank (assuming there is not a crises) and will it contunie to earn interest?

Thanks for you help!
Hi Vandoo. I suggest you take the money out of Scotia Bank & invest it with Bank Russa in Puerto Plata at 10% or more. Tel. 586-9067. Bush Baby is correct at Scotia Bank depleting the account. Have a good one!! Canadian Bob.