living in Dominican Republic: opening a bank account

My post ended up under review. XE is the website/currency transfer service I referenced.

lennoxnev wrote:

You are correct that it is not easy, in that the only way you can get a credit card or an interest bearing account will be through the branch with whom you opened the account. It comes back to the your relationship with the management of that particular branch and no amount of trying through the head office or online works. And it is not that easy to open an account with them.

You are part of the Bank of Nova Scotia empire, but each part in each country is it's own entity and with a level of independence. Perhaps that accounts for their credit worthiness whereby if one entity gets into difficulties is does not weigh down on the empire. 2008 brought many things into focus about banking and the stability of Canadian banks impressed me.

It has worked for me for near 15 years here plus more years banking in other Caribbean countries with Scotiabank. For me, the ease of banking at branches, ATM use (holding a Barclays account, a partner of BNS eliminates fees too), low fees and online are the issues along with credit rating. That said I have been thinking about a change to BHD Leon where my wife banks.

Just reading an older thread...lots of good information on opening bank accounts in the DR.

Question for you, Lennox:  Is that "open savings & get credit cards ONLY at branch where opened initial account" policy ONLY for BNS?  Or does it apply to all all DR banks?

Information for any/all:  We opened accounts with BHD Leon late 2018 in dollars and pesos respectively.  Got ATM cards just fine, didn't think to ask about a credit card.
>>  Used a branch that was convenient to our Lawyer's office...in retrospect, probably not the best criteria.   
>> That branch is in the Bella Vista Mall, IIRC.  Convenient when in the capitol, at least initially.  Lots of ATMs throughout the city, a reasonable number of branches.  Don't know yet about branches or ATMS outside of Santo Domingo.
>> A downside is that they have a limited staff that speaks English, and those usually have limited proficiency.  Even if you ask to speak to a teller that speaks English, your luck may be good or bad, depending on the day or hour.  They don't seem to intentionally schedule an English speaker on every shift/day, so you luck may not be good.  Plan your transactions so that you simply NEVER have any last-minute, MUST-MAKE transfers that will require English-language help, as you may need to come back another day.
     >>> Perhaps after we've been there a while and learned the lingo, we'll be more relaxed.  Until then, I want a good English speaker advising me on making international transfers.  Too easy to have your money sent to Timbuktu or China. 
     >>>  You might think, well, I'll just call and ask if they have any English-speakers working that day.   
    >>>  We found that the answer (at least with that branch of BHD Leon) is ALWAYS "yes, we have English speakers on duty," over the phone.  Not necessarily reflecting reality in the branch office.  Or, maybe it was true at the instant you called...but changed 20 minutes later at the shift change, before you arrive. 
>> I'm pretty sure that eventually we'll eventually move to a different bank with the highest number of good English speakers on staff in the primary branch for wherever we settle (Snowbird). 

And, BTW, Question for All:
>>  Does anyone have recommendations for a Bank (or bank branch) with the best/highest number/percentage of English speakers on staff?    Or that intentionally schedules English speakers on every shift?
   >>>  If that question is covered in another thread, I apologize, and would appreciate referral to the right thread.


Many thanks,


Jim
ExpatRusher

CitiBank and Bank of America. If you don't have an account with either, you can open one just for this purpose and then transfer from your main U.S. bank account. You will pay the wire fees and there may be a less costly option but if you do not need to make frequent transfers (or do fewer larger transfers), it is a good option.

Morning...was lying in bed last night and was wondering how one gets a reference letter from someone who has an account at the bank at which you are getting your own account....I know noone on the island, let alone someone from the bank I am going to use.

I am sure that I am not the only person who has had this issue.

Thoughts?

Just ask on here honey.  They  really mean very little.  I can give you one if I have an account with any bank you choose.