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Thread: Can Open US Bank Account in the DR?

  1. #1
    Ken
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    Default Can Open US Bank Account in the DR?

    Is there any way to open an account in a US bank without going to the US to open it? Based on exchanges of email with PayPal we thought condo owners could use that service to send their monthly maintenance fees, but now find there is no way to do this unless the condominium has a US bank account.

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    Default Ken

    Send Eddy a PM. I believe he can answer that for you.

    Larry

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    I did it from the UK with Wachovia by email, I got an office number from their website near to my address in the US, called and got an email address, all they asked for was a specimen signature, which I sent by fax and they set everything up for me.

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    http://bpdbank.com (New York based/ FDIC Insured) They have an office here in the main Banco Popular building in Santo Domingo. They have online banking and you can open an account from the DR. We use them at DR1, so do a few other DR1 people. If you need any help, send me a PM.

  5. #5
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    Yes!

    Anyone who is in the military, a veteran, a military family member or a government employee can open up a checking or savings account with USAA. I will not say too much on the subject but USAA does not exactly verify if you meet the above criteria so what you do with that information is entirely up to you.

    You can open up a cheking account with a minimum deposit of $25 USD and they give you the option of adding the funnds with a credit or debit card or by doing an online transfer from another bank account.

    The website is www.usaa.com

    You do not even have to have a US address for this; USAA accepts customers from just about every country in the world.

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    Banco Popular offer US and EUR accounts; to open an Euro account you need a minimum balance of $300EUR so US should be about the same. With a passport you can open an account!

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    If you are over go 5o www.bankofinternet.com can be set up via e-mail and bank transfers. They have a senior checking that is paying 3.5% interest. Not bad for a checking account.

    Bob K

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    Ken
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    Quote Originally Posted by juanita
    Banco Popular offer US and EUR accounts; to open an Euro account you need a minimum balance of $300EUR so US should be about the same. With a passport you can open an account!
    I am aware of that, Juanita. For our purposes, we need to be associated with a bank with a bank that is located in the US. From PayPal, "Customers in any country or region may withdraw funds to a U.S. bank account. Only U.S. bank accounts, from a branch located within the U.S., denominated in U.S. Dollars can be added to a PayPal account"

    Robert, I'll be PMing you. Alamflemenco, Bob K and Larry, I'll be following up on your suggestions, too. Sunshine_79, I'm a veteran, but this account is not for me. It is for the condominium where I live.

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    Ken,
    In any case I think the condo association will have to get a Taxpayer Identification Number. I believe all US banks are required to get either a Social Security number or TIN for any account. Better off getting a non-interest paying account so as not to generate any 1099's.

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    Oopps…. Sorry Ken, I misunderstood the question!

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