That’s funny because when I went to open an account at Banreservas, besides my passport, they asked for my tax returns, copy of my recent pay stubs and my Social Security Card. Another thing, if you happen to have been in the DR for more than 30 days, they told me they couldn’t open the account until I exit the country and re-enter. So if you are contemplating opening a bank account here, bring all your documents and try apply within the 1st 30 days of entry.

@walteranderson2507

10 ай бұрын

Sra., I disagree not because I am ban wagoning, but because earlier this year me and my fiancee went through this. We went to all three mentioned banks, and the results were the same. I believe it was the individual tellers biases. And everything you mentioned, I and my Flaquita provided. Make it make sense ? Don't be mad at me be transparent.

@rentaroominnyc

10 ай бұрын

If you have been in DR for over thirty days, you don't need to exit the country. Just go to the immigration office in Santo Domingo and get an extension on your stay and you will be fine. Show the extension to the bank and you will be good to go. I learned that about two weeks ago from a Dominican immigration lawyer based in DR. If you leave the country within the time stated on the extension, you will not have to pay the exit fee. In other words, you can pay the exit fee in advance if you know for sure how long you will be staying in DR beyond the first 30 days.

@rentaroominnyc

10 ай бұрын

I dealt with Banreservas last year, yes you need to open the account right upon arrival before 29 days. However, if you have been in DR for over thirty days, you will need to go to Santo Domingo to immigration to get an extension on your stay; pay the fee and then go back to the bank to show them your stay has been extended in DR. In the eyes of the bank, after thirty days you are no longer legal in the country. That's why you need the extension to maintain your legal status in the eyes of the bank. Apparently, they don't open bank accounts for illegal aliens.

@alfredmayes5005

10 ай бұрын

@@rentaroominnyc that would have been good info to know about a year ago. When I’m in Puerto Plata, I might stay anywhere from 4 to 7 months at a time. And usually I don’t file for an extension as I simply pay the exit fee when I leave. So that process may not have worked out for me exactly. Plus I typically buy a one way ticket because of the uncertainty. But good info to know nevertheless.

@rentaroominnyc

10 ай бұрын

@@alfredmayes5005 No problem! You can keep renewing the extension every 90 days.

Great information as always. Thank you

@NorberisR

10 ай бұрын

My pleasure!❤️🇩🇴

Another great topic thank you. The video is very helpful

@NorberisR

10 ай бұрын

You are so welcome!🇩🇴❤️🤗

Yes Norberis your right about popular. They were my first choice; but their requirements are so stringent, I too had to change my mind. But when I actually live there I will definitely open an account with them. When i open my account though it wasn’t so difficult. A few days had pass after I give them my information, I was wondering why it’s taking so long. So I send them a very nicely worded letter via email ; and within a few minutes they respond back and tell me to come by the bank and finalize the process. I made my deposit, request a card instead of the bank book. That was it. My spouse did recommend me though. And I just wanted a peso account.

Good topic..i got Santa Cruz..it has some pros and cons..but overall im happy about it.

Very informative- appreciate y’all 😊

@NorberisR

10 ай бұрын

Our pleasure!❤️🇩🇴

Thank you so very much for the information. I will most definitely try to schedule a meeting with you to help with this process if you are still willing to help foreign folks like me.

@NorberisR

10 ай бұрын

Of course this is a service is provided.

I just managed to open a Banco Popular Checking and Savings Account yesterday. The list you gave me came in handy, although I had to come up with additional documents not on the list. I was prepared.

@NorberisR

10 ай бұрын

Thanks that is great you were able to open a bank account there.

This good 👍🏾

I opened my account at banco santa cruz in Janurary 21 so I wouldn't have any issues on getting a loan for my apartment I purchased in punta cana when its delivered to me in October. Didn't want any issues when the time came up. Its alot better when you're solidified in a bank down there. I usually send money to it every few months with the remitly app.

@NorberisR

10 ай бұрын

I agree.

Hi, thank you so much for informative video, I will contact you soon to open a bank account with your help !🙏

@NorberisR

3 ай бұрын

Ok, you can purchase the service on my website when you are ready.

Yes, pretty straight forward. I have a USD account with Banreservas and Pessos with Asociacion Cibao, which is also where I have my mortgage.

@NorberisR

10 ай бұрын

Is Association Cibao a good bank to get a mortgage loan?

I'm from New Jersey and we have Banco Popular but it's different from the Dominican Republic version. And in Manhattan NYC they just opened up a Banreservas.

@NorberisR

7 ай бұрын

I heard about the Banreservas in NY

You read my mind,. Banco Popular wants references from your job and your bank along with 4 paychecks

@NorberisR

10 ай бұрын

Yes they have a lot of requirements.

If you are a naturalized citizen of some other country, Banreservas will ask for you also for a valid ID from the country where you were born. It happened to me last year. For instance, if you are a naturalized U.S. citizen but were born in Jamaica; they will ask for your U.S. passport and a valid (unexpired) ID from Jamaica. A lot of them will ask you for a copy of your income tax return and some kind of personal and business references in DR. If you have been in DR for over thirty days, you will need to go to the Capital (to the immigracion office) to get an extension on your stay before you can open the account with some banks. Otherwise you need to open the account upon arrival.

@oscarmartinez50

10 ай бұрын

I know a GM at Banco Santa Cruz and I didn't have to go through all that BS. I was declined at like 5 other banks. I was born in Honduras and naturalized in USA. 😊

@rentaroominnyc

10 ай бұрын

@@oscarmartinez50 Who you know matters in DR.

Thank you

@NorberisR

10 ай бұрын

You're welcome.

Great information. What’s the best bank for a cd with pesos or dollars? Thanks.

@NorberisR

10 ай бұрын

Here is a video I did that can answer your question kzread.info/dash/bejne/oq2JrriiebbSdps.html

Thank you for the info. Which is the best bank to get a loan for property and at what rate? Or am I better off borrowing in the U.S. cause I think rates are cheaper and they give you 30 yrs?? Thank you

@NorberisR

10 ай бұрын

I don't know the best bank loans or the rates. You would have to contact the bank of your choice. But yes rates are high here and if you can get a loan from the U.S it would be better.

Thanks you.but Wells Fargo NO GOOD

Banco Popular required a copy of my tax return, so I declined.

@oscarmartinez50

10 ай бұрын

I opened one at Banco Santa Cruz. I know a GM and I didn't have to go through this mess.

👍

Me gustaría abrir una libreta de banco, y si usted me pudieras ayudar. ya agradeciera mucho gracias.

@NorberisR

Ай бұрын

Si tú tienes preguntas específicas en que yo te pueda ayudar envíamelas a mi correo electrónico. Pero si necesitas ayuda como ir con tigo al banco y ayudarte con el proceso entonces debes comprar mi consulta en mi página web.

Can you do a video on the banking scandal of 2004?

@NorberisR

10 ай бұрын

Sorry, I'm not the right person to make a video on this. I have no knowledge of it.

@Masonsky123

10 ай бұрын

@@NorberisR Google it.

@NorberisR

10 ай бұрын

Doesn't interest me enough to do so. As I said I'm not the right person to make a video about this. Have a great day🤗🇩🇴❤️

Great info! What are the benefits of opening two different accounts in different currencies? What are the fees? Could you just have one and just make an exchange?

@NorberisR

10 ай бұрын

One benefit to me is the value of the dollar continues to go up so at the time you need to convert it you get more value. Another benefit is some places are starting to require payments in US, say for instance your rent. And you wouldn't have to convert from pesos to dollars. If you just want one account it would be US.

@Ali-rb1mq

10 ай бұрын

@@NorberisR if I wanted to use that account that was in us to pay a bill at resturaunt or something would it be accepted just like my bank card here is accepted there? If so, as an American citizen I don't see the point in having a pesos account at all.

@NorberisR

10 ай бұрын

Why would you pay your restaurant bill in dollars in a country where the currency is in pesos? You understand you are paying more when you pay in dollars than in pesos? And paying a restaurant bill isn't the only reason to have a pesos account🤣😂

@Ali-rb1mq

10 ай бұрын

@@NorberisR idk if you thought i was "coming for/at you" but you didn't answer my question. It was a serious question. I've used my card several times paying at nicer resturaunts in the city(i almost always pay with cash/pesos in barrios y campos), the bills are obviously in "pesos" but my bank is obviously dollars, every time I check it is the exact current dollar to pesos exchange rate deducted. So I was honestly asking if it was even worth while having a pesos account as an American if you would be funding it with the American made dollars anyways , but you took the question wrong and got defensive never answering my serious question. But ok. Peace

@ingridfrancetravels

10 ай бұрын

@@NorberisR I learned my lesson. I didn't change enough money and used my US bank card to pay restaurant bills. Not only did I pay more at the restaurant, I also got hit with exchange fees. I usually try to change my money at the airport or hotel. Where are some places that you can change money that are reputable besides an ATM?

One passes away and no bebfisiary is not named in the bank account. Can the spouse claim the money at a bank in DR? Tbanks

@NorberisR

Ай бұрын

I'm not sure. That's a good question. You'll probably need to speak to the bank.

Scotia and Popular are both banks you can find in the U.S., What if you already have an account with one of them, Do you still have to open another account in DR?

@garyvictor5728

10 ай бұрын

I didn't know they had scotiabank in the u.s i never saw one in the US scotiabank is a Canadian bank

@user-ck9ng1xs3m

10 ай бұрын

Canadian here! Scotiabank in DR has no relation with Scotiabank in Canada!To open an account there you will have to provide a bunch of documents.

@alansheppard6718

10 ай бұрын

Yes we have both in NYC

@garyvictor5728

10 ай бұрын

@@user-ck9ng1xs3m i know i tried it and i just give up

@garyvictor5728

10 ай бұрын

Ok my bad

Does the income have to be from DR or it can be from outside the country?

@NorberisR

10 ай бұрын

It can be from anywhere. Our income is from outside the country.

do I need a cedula to get a online banking? I am a foreigner

@NorberisR

3 ай бұрын

You don't need a cedula to get a bank account but you need to be in the country to open the bank account

Do you think it is possible to open an account with a bank online or does it have to be done in person?

@KaiWenFranklin

10 ай бұрын

Great question! I was wondering the same thing.

@NorberisR

10 ай бұрын

No, you have to open these accounts in person.

Is there any American banks, that you would recommend. Thanks

@NY2DR

10 ай бұрын

I'm not positive, but the only American bank I've heard of was Citibank. And, I don't believe there are more than 2 branches in the Capitol.

@NorberisR

10 ай бұрын

I don't know of any American banks here.

Dam 3 hours?! 😂 like buying a car. When I called popular they told me a bank statement two forms of ID and the money that's it. And an adress of choice in DR IF I WANTEd to use a local adress. Judging by how inefficient and disorganized somethings can go often in that country I'm definitely sire it takes more than that after watching this. I will reconsider. Reserves or that bank your husband uses. Geez. I will call them again to make sure

Fui a una sucursal del popular y me piden visa de residente. A qué sucursal hay que ir para que me la den estando de turista?

@NorberisR

8 ай бұрын

Hola buenos días que fuiste hacer al banco popular?

@cl-Matt

8 ай бұрын

A abrir la cuenta como extranjero. Y me pusieron mil requisitos jejej

I forget which one my parents have when they moved there. It sucks because if i want to wire them anything it has to go through a fee that’s like $100 bucks or something wild

@thewolfgangartist6142

10 ай бұрын

There’s an app called Remitly I use to send money to a friend, they don’t ask for much to express the money to the account if that helps at all

@NorberisR

10 ай бұрын

Send them money through remitly

Hi Why I can’t download your PDF file

@NorberisR

10 ай бұрын

Send me an email at norberis@norberisr.com

How much do you charge to help me open a bank account? I will be in the DR 12 to 16 February. I will be in the National District near Plaza de Colombia.

@neighborhoodlawncaremainte9847

5 ай бұрын

There is a Banreservas at Patio de Colombia

@neighborhoodlawncaremainte9847

5 ай бұрын

Also, what is the statement “where the money is coming from”

@neighborhoodlawncaremainte9847

5 ай бұрын

Do you have any Airbnb near the Plaza de Colombia?

@NorberisR

5 ай бұрын

You can send me an email and I can let you know norberis@norberisr.com Also, I don't have a Airbnb in that area.

What about Bitcoin and cash app? Do I still need a bank account?

@NorberisR

10 ай бұрын

I don't understand the question?

@howardwilliams2925

10 ай бұрын

@@NorberisR if I store my in Bitcoin and use cash app to convert my bitcoin into dollars do I need a bank account?

@NorberisR

10 ай бұрын

Sorry I'm not familiar with that process.

@theronmayes5485

10 ай бұрын

I use my cash app card to for all my general purchases when I am in the DR every month. Have not had any issues and received a better exchange on the dollar.@@howardwilliams2925

Can I open a bank account online

@NorberisR

6 күн бұрын

No

Curious for opening a bank account how many times will they ask to show proof where money is from? Is that only on the initial amount you want to deposit when opening the account? Like for example when trying to open a account lets say my first deposit will be $500 US or the RD equivalent. I show them my US bank statement for proof of the $500. My account then gets approved and now i'm good to go, deposits and withdraws like any normal bank. Ok so now after getting approved I wait 1 - 2 weeks and go in again to make a 2nd deposit but this time it's $10,000 or $20,000 (just a large amount). For this 2nd amount will they ask for proof of where it came from or will they just deposit it and no ask questions? And I promise i'm not doing anything illegal lol , just curious if 1. they'll keep wanting proof and 2. find out maybe it's better to deposit in smaller amounts over a longer period of time instead of a large amount once, if that avoids them asking for proof. Actually if you see this i will email you in the future i'm contemplating on opening a small pizza shop in DR , or well right now i'm going back and forth weather i want to try for a US pizza shop or do it in the DR. But if i decide on the DR i'm looking for someone to help with finding rental locations for both business & my home apartment (if u remember i'm the one who asked about having your apartment right above your business) and also getting the business documents in order and setting up bank account and finding a pizza deck oven to buy , stuff like that. Of course whatever your fee is for the help i'll gladly pay/donate. But again this is all down the road and i'll email you about it eventually after i do all my own research :)

@NorberisR

Ай бұрын

The proof is only to open the account. Now if you are wiring a large sum of money as you mentioned they can ask you for proof as to where the money is coming from. But if you walk into the bank and deposited it typically they don't ask. Typically a business account is trusted differently than a personal account when it comes to deposit amounts. Dominicans love pizza😀 Whenyou are ready just email me.