- Thread starter jerryme
- Start date
Scotia Bank Interest rates
Is it true they won't pay these interests to Canadians ??? I read that in the Goverment Forum, the post name is "Savings in DR".
Does anyone know of any other "trustable" bank that I could have a savings account and have good interests like Scotia ???? Thank you in advance .....
Nube
Does anyone know of any other "trustable" bank that I could have a savings account and have good interests like Scotia ???? Thank you in advance .....
Nube
Scotia Bank
Firstly for a Canadian to open an account at a Scotia Bank in the Dr you will need a letter from the Canadian Consulate, a letter of reference and salary from your employer and at least 3 credit references. Try Banco Popular, it's much easier but you will still have to have a letter from your employer and a very good bank reference. As far as I can tell they don't pay any interest.
Firstly for a Canadian to open an account at a Scotia Bank in the Dr you will need a letter from the Canadian Consulate, a letter of reference and salary from your employer and at least 3 credit references. Try Banco Popular, it's much easier but you will still have to have a letter from your employer and a very good bank reference. As far as I can tell they don't pay any interest.
Yes Scotiabank. I just made some deposits today. To open an account these days you need photo ID, Can Passport is fine and a letter of reference from your bank in Canada, even if it's Scotiabank along with the minimum deposit to open an account $500 US for dollar accounts and $500 RD for Peso account.
Hope that helps a bit.
Hope that helps a bit.
I guess it depends on the branch
Scotia was such a bother I went to BP. and I have a Canadian Scotia account. I had American cash and they didn't want to do anything without the letter from the consulate etc. I had everything else with me. I went next door to Banco Popular and everything went smoothly.
Scotia was such a bother I went to BP. and I have a Canadian Scotia account. I had American cash and they didn't want to do anything without the letter from the consulate etc. I had everything else with me. I went next door to Banco Popular and everything went smoothly.
exchange rates
as a canuck living in the dr--watching the exchange rate fall from 30 to 34 pesos per canadian-to 21 pesos in the last 8 weeks is a joke----for a developing semi third world nation's currency to gain 35 % against the 4 strongest currencies in the world---ie--us, euros,pounds,canadian---is a joke----there giving 21 pesos today in sosua for a canadian dollar and at the airports in canada there giving 27
the only thing the dr gov--is doing with this manipulation of exchange rates is hurting the dominican people---people who live here---tend to spend less--tourists watch there money a little closer and people who want to invest here--all of a sudden back out of realestate deals because a 100;000 deal--becomes a 130;000 deal----if the gov here had have left things the way they had settled into none of this would would have happened---yesterday the canadian dollar when from 24 pesos to 21 today--this is a 13 percent gain in 24 hours----what a laugh---and the bank of nova scotia here is going along with it--- maybe i'll close out my accounts with them when i'm back in vancouver this spring.
as a canuck living in the dr--watching the exchange rate fall from 30 to 34 pesos per canadian-to 21 pesos in the last 8 weeks is a joke----for a developing semi third world nation's currency to gain 35 % against the 4 strongest currencies in the world---ie--us, euros,pounds,canadian---is a joke----there giving 21 pesos today in sosua for a canadian dollar and at the airports in canada there giving 27
the only thing the dr gov--is doing with this manipulation of exchange rates is hurting the dominican people---people who live here---tend to spend less--tourists watch there money a little closer and people who want to invest here--all of a sudden back out of realestate deals because a 100;000 deal--becomes a 130;000 deal----if the gov here had have left things the way they had settled into none of this would would have happened---yesterday the canadian dollar when from 24 pesos to 21 today--this is a 13 percent gain in 24 hours----what a laugh---and the bank of nova scotia here is going along with it--- maybe i'll close out my accounts with them when i'm back in vancouver this spring.
Cant Have it both ways.
Well for an ex-pat its nice to be able to spend pesos for a change and keep the outside money in the bank. I do see that a couple of new house projects nearby owned by U.S. persons have suddenly ground to a halt due to the exchange rate. So unfortunately the local workers wont have the anticipated Xmas money. Im not sure where the Scotia Bank fits in though although I agree that the peso must now be one of the major currencies around. Cheers. M.
travelling said:
Well for an ex-pat its nice to be able to spend pesos for a change and keep the outside money in the bank. I do see that a couple of new house projects nearby owned by U.S. persons have suddenly ground to a halt due to the exchange rate. So unfortunately the local workers wont have the anticipated Xmas money. Im not sure where the Scotia Bank fits in though although I agree that the peso must now be one of the major currencies around. Cheers. M.
Canadian dollar cannot be considered one of the 4 most desired or strong currencies in the world and the PESO will never be.
I do find it strange that the Electric grid grinded to a halt with the exception of odd hours, they haven't paid their bills and the peso gets strong. This goes in the opposite direction of common sense but what the heck we are in the DR which can only be equated with the wild wild west where anything goes.
Poor Dominicans either way because they can not get even let alone ahead with this crazy fluctuation of currency.
Escottisconfused...
I do find it strange that the Electric grid grinded to a halt with the exception of odd hours, they haven't paid their bills and the peso gets strong. This goes in the opposite direction of common sense but what the heck we are in the DR which can only be equated with the wild wild west where anything goes.
Poor Dominicans either way because they can not get even let alone ahead with this crazy fluctuation of currency.
Escottisconfused...
they are not stupid
DR's govt needs US dollars to pay it's bills. The govt, for sake of round numbers, buys pesos at 50:1. The govt maniulates the markets and buys back dollars at 20:1.
US$1,000,000 @ 50:1 = RD$50,000,000
RD$50,000,000 @ 20:1 = US$2,500,000 a profit of 150%
Not a bad living
cork
Escott said:
DR's govt needs US dollars to pay it's bills. The govt, for sake of round numbers, buys pesos at 50:1. The govt maniulates the markets and buys back dollars at 20:1.
US$1,000,000 @ 50:1 = RD$50,000,000
RD$50,000,000 @ 20:1 = US$2,500,000 a profit of 150%
Not a bad living
cork