Opening a bank account in the DR

[stallion]

hello,

Maybe the members in DR1 living in the DR can help me with this question.
What are the requirements in opening a bank account in the DR (savings/Chequing account). What do I need to open the account. Any info is greatly appreciated. Thanks all.

[Naufrago]

My Passport and some cash was all I needed to open a savings account in 2 different banks, a dollar account and a peso account. I've heard that some banks might require references or credit reports, but just shop around, somebody will want your money. A checking account might be harder to get, and watch out for the fees, but again shop around and let us know if you find a good, easy to get, checking account.

[Escott]

Bring letters of recommendation from 2 banks or brokerage houses to the bank with you. Some banks require this such as Banco Popular.

[BostonMary]

All I needed to open a peso account was a passport and of course pesos. Then 2 years later I opened a dollar account at the same bank, no problem. But I did hear that if you want to open a dollar account and you have no pesos account you need references, If you have the references again no big deal. I would suggest you speak to people who have accounts at the bank you want to use. my accounts are at Banco Leon, formerly Banco Credito.

[stallion]

Thanks for the great info, I found it helpfull and you all answered my questions.

[euuusi]

Originally Posted by Escott

Bring letters of recommendation from 2 banks or brokerage houses to the bank with you. Some banks require this such as Banco Popular.

Do you have experience with Popular? We're looking to open a US account later this month and appreciate all the tips we're reading here. We've heard from several that Popular is one of the better DR banks. Would appreciate info on conditions, fees, etc. Thanks.

[Escott]

Personally I wouldn't bank at Popular. Do a search here and you will hear some horror stories. I sign on the accounts of the condo complex I live in only.

I have a few accounts at Banco Santa Cruz with very little money in them. One pesos and one dollars just for convienence.

Scott

[Jimmydr]

I keep about 300 pesos in my account to keep active.

[stallion]

Originally Posted by Jimmydr

I keep about 300 pesos in my account to keep active.

Sounds like a good and smart Idea.

[HAPPYDUDE]

I OPENED AN ACCOUNT WITH BANCO POPULAR UNTIL I FOUND OUT THEY WANTED TO CHARGE ME TO PUT MY MONEY IN THEIR BANK. THIS WAS A DOLLAR ACCOUNT. THEY WANTED TO CHARGE ME ONE PERCENT ON MY DEPOSITS. I COULD NOT BELIEVE IT.BE CAREFUL.... BANDITS AFOOT