Need a Dominican bank that is affiliated to the IBAN-system

[bob saunders]

I am unable to transfer money direct from my UK bank (LloydsTSB) to my Dominican bank (BHD/Leon). It has to go via Banco Sabadell in Spain. Is that because BHD/Leon does not participate in the IBAN system?

Most Dominican banks use what is called Regional Standard number, which is really the IBAN by a different name. I have no problem sending money from Canada to my account in BHD Leon. The RSN when pit in the IBAN calculator comes up as a valid IBAN. Ask your banker for your regional standard number.

 

[Uzin]

I am unable to transfer money direct from my UK bank (LloydsTSB) to my Dominican bank (BHD/Leon). It has to go via Banco Sabadell in Spain. Is that because BHD/Leon does not participate in the IBAN system?

I had the same problem with BHD/Leon, if you go inside the bank and ask information about transferring money they give you a long list of intermediary banks in US and Europe that you need to transfer your money into and then from there to BHD/leon.

Though like some post above and other posts in other threads people seem to be able to transfer money from UK to BHD/Leon directly... ! (I have internet-banking with them so will check the IBAN mentioned above.)

I gave up on the idea as from UK you are likely to be charged commission for GBP to USD and probably some more for USD to DOP transfer and all the charges by the banks at both ends.

But for large sums I guess there is no other easy way, there always a lot of charges between. UK-based TransferWise gives the best deal in money transfer worldwide (peer 2 peer, using mid-market prices) but they don't currently support DR banks. I need to check HiFX though....