Opening A Bank Account In Dominican Republic | Banking In The Dominican Republic

[@vernonedmonds8596]

I haven't seen any other channel give an explanation on this subject in full detail as you did... gracias mi amiga

[@NorberisR]

You're welcome❤

[@profeagayu]

This was very informative. Thank you. I just opened and account with Banco BHD which required the fewest documents of the few banks I checked out.

[@OmegaJacko]

that is what i heard what documents did you need ??

[@NorberisR]

Thank you. BHD is a good bank.

[@johnbaptiste733]

Would you know how to check your account balance for bhd leon. I just opened in account- I return to home country and I cannot find bank balance.

[@profeagayu]

@@johnbaptiste733 When you open the account, they should have walked you through the process to set up your online banking account. If not, when you return to DR, you would need to go to BHD to get it set up. Anytime you open an account with a bank in DR, you have to setup online banking on the spot at the bank. It's not like the US in that regards.

[@NorberisR]

How to open up a bank account in Dominican Republic. Many of you have asked me what are the steps of opening a bank account in Dominican Republic. So in this video I outline what you will need to open a bank account and some of the banks I recommend. If you like videos like this check out my Dominican Culture videos here kzbin.info/aero/PL0OHP8RGzZ5aTY_XSCWJCLYfyD5FKkane

[@jazzyjag1989]

Norberis, LMBAO ..." brown paper bag"! Very good information 👌 As always! Thanks

[@NorberisR]

😁you're welcomed.

[@actionjackson6649]

Norberis, you are the best in giving out information about every thing in the Dominican republic, Thank you

[@NorberisR]

I appreciate that!

[@actionjackson6649]

@@NorberisR [e-mail] I'm in the Capital right now in Juan bosh, email me because I'm planning on purchasing land in DR, tomorrow I'm visiting the area of Boca chica, to see if I like the area, please email me to get in touch, Thanks

[@NorberisR]

You can send me an email at [e-mail] with your questions.

[@kvs1031]

This videos was great you are the first person to explain the right way to open a Bank Account. Thank you. Keep the videos coming.

[@NorberisR]

You're welcomed😊

[@chrissystewart6268]

Que lo que Norberis I 💖 you girl & I love your videos you have my support . I do need to know 😉

[@Dee-pj7hh]

Brown paper bag money y under the mattress money 😂🤣😂🤣. Very funny, very funny. Like I said before you explain things very well because you really do go out and get the info from different sources. This is one of the vital thing I need to get done on my next trip. Thanks Norberis.

[@NorberisR]

You're welcomed. Glad it was helpful.

[@cryptorio1570]

GREAT info. Noberis! This is the kind of info. we need to know🌷

[@NorberisR]

You are welcomed!

[@bruceryan9947]

Thank you for this video. You have provided valuable information with specific details and clarity. Very much appreciated!

[@NorberisR]

You're welcome

[@RonsTravelingWays]

Lol, brown paper bag money! I love this! You always have good information. Thank you so much

[@NorberisR]

Thank you.

[@evelynalbarran1154]

Good Morning Norberis Thank You 🙏 I have asked these questions so many times and could never get a straight answer. Made me feel like the person just wanted me to leave my money with them, for control. Never going to happen jajaja Cuídate mucho Cariño y Gracias

[@NorberisR]

Hahahaha....gracias❤

[@frankieaprile6632]

Thanks for giving us some valuable advice on how to open a bank account norberis

[@NorberisR]

You're welcomed.

[@Papi_Oso]

Wooow! You did it! Thank you so much amiga mia, you went in depth with everything I need to know. You are awesome! 🙌🏾🙌🏾

[@NorberisR]

You're welcomed. It took me long enough...lol!

[@BlockchainShango]

As always, great video. Answered quite a few concerns I had and I will keep this info in the back of my mind. You and the family take care. Ciao.

[@NorberisR]

Awesome, thank you!

[@antoniothomas3862]

You always have good information. Thanks for the video.

[@NorberisR]

Gracias!

[@antoniothomas3862]

@@NorberisR De nada

[@1laura776]

Thank you once again for this valuable information!

[@NorberisR]

You're welcomed ☺️

[@davidr9482]

Great video as always. Do the banks in the DR provide similar support for online banking as in the USA, where you can link accounts, move money, transfer money to other banks within the country? I have began my five year plan to make the DR my home of residence. 🤗

[@NorberisR]

Yes they do.

[@axm203]

Love your channel, new subscriber!

[@NorberisR]

Welcome! Thanks for subbing! I hope you enjoy the content

[@andersonpierre728]

Good morning 🌻 beautiful ❤️. How was your night? God 🙏 bless you Very interesting video

[@NorberisR]

Amazing

[@davidmcconnell8005]

Very helpful information, thank you!

[@NorberisR]

You're very welcome!

[@horacebond9394]

Good and important info!

[@horacebond9394]

One other thing I have discovered, there is not one bank in DR that has a branch in USA. I was looking for one, so I could open the account. One of those banks down there has branches in Canada, I even considered flying up just to open an account

[@nigelbaptiste4706]

Good evening Norebis, your show is very informative, I have been to the DR twice and it is a very lovely country, can you give me some info on Scotia Bank ?....Thank you

[@NorberisR]

What information do you need? Can you be more specific?

[@nigelbaptiste4706]

@@NorberisR Hi Goodnight, what i am asking is that opening an account at Scotia Bank

[@kngemeral]

Thanks...for the info ..very valuable

[@NorberisR]

De nada☺

[@benjaminbarnaby7116]

Yes great info keep it going thankyou

[@NorberisR]

De nada

[@minguillon360]

Gracias!!...Very helpful information

[@minguillon360]

👍

[@anthonym1421]

This Was A Great Video to Teach People..Thank You..

[@NorberisR]

Glad you enjoyed it!

[@TheofficialBXGonz4]

I'm here now, I learn do much from you. Love to meet u one day

[@NorberisR]

That's great. I hope you are enjoying yourself.

[@TheofficialBXGonz4]

@@NorberisR I'm enjoying what I see. Been really focused on finding work

[@KaiWenFranklin]

Thanks for the information!!!

[@NorberisR]

You're welcomed.

[@andersonpierre728]

Very helpful 🤠👍 thanks

[@kara.g.]

I moved to the DR in August, and immediately ran into problems trying to open a bank account. According to my school, they just changed the requirements for foreigners and there was a whole list of documents needed! I've just been getting paid in cash 🤦🏻‍♀️🤷🏻‍♀️ which I guess is fine. 😅

[@NorberisR]

That is interesting because I got this information in December. Which bank was it? Are they asking for more documentation?

[@kara.g.]

@@NorberisR They originally sent me to Scotiabank, but then they also checked at Banco popular and I think some others. I’ve just been going off what they said, and they forwarded this list of documents: cédula de su país de origen, estatus migratorio, aval de ingreso (carta referencia, referencia algún servicio de agua, teléfono, cable, etc), income tax (W2) para los Estados Unidos, pasaporte, otra identificación adicional por ejemplo licencia.

[@NorberisR]

It seems each bank have different requirements in addition to the standard requirements.

[@pedrorosado2976]

Saludos...Ademas de Bella...super buena information....gracias❤️

[@NorberisR]

De nada...

[@pedrorosado2976]

@@NorberisR De mucho interes seria saber...de los servicios comunes...Internet(velocidad).electricidad , agua. y diferencia en vivir en Santioago versus La capital....gracias

[@NorberisR]

Ninguna diferencia.

[@animefanz25]

I listen to your video almkst everyday to stale it in my head so it can become natural . the way my job is it goes by vacation hours. And i have work to build the vacation points to use them and then wheb come back US. I have workit back up. But until then.. the question i want ask is. What if i can open bank account there. And when i come back home can i do money transfer( online) to put in my saving account. Since i cant fly back and forth from US to dominican republic?

[@NorberisR]

Yes, as long as you open a dollars account in DR and not in pesos. You can transfer your money from the US to DR then. But you can't open a pesos account in DR and transfer Dollars.

[@doctorr.t.v.3142]

Hi this is a great channel do you know any lawyers when it comes buying a house

[@NorberisR]

Yes, I have contact with a lawyer.

[@doctorr.t.v.3142]

My i please get a number because i need a lawyer i can trust and i really need to speak with you or your husband so i can get some land and a house i am punta cana now

[@NorberisR]

@@doctorr.t.v.3142 Send me an email at [e-mail] and I will forward you the lawyer's number.

[@grandpa6650]

What about if you bring a certified check from the US; How long before the check clears? And what about the procedure for closing those bank accounts? Thank you sweetie, your videos are very informative. Love you. 👍👍👏🏻👏🏻👏🏻💐💐💐💐💥💥💥💥💥💕💕💕💕💕💕🇵🇷

[@NorberisR]

All great questions. You will need to check with each individual bank regarding that info. I'm mainly focusing here in this video on how to open a bank account. Thanks for watching.

[@wilbertlong]

Could you do a video about HOA fees for apartments, condos, and houses and property taxes in DR. With examples.

[@NorberisR]

I've done a video where i spoke about property taxes. In regards to HOA fees what in particular?

[@wilbertlong]

@@NorberisR was looking at condos in DR wanted to know what average condo fees were with examples.

[@wilbertlong]

Some places in US, condo fees can equal almost the same as renting per month just was wondering how it is in DR, with examples.

[@jazzyjag1989]

@@wilbertlong, absolutely correct, those hidden fees (HOA) can increase yearly to as much as the mortgage!

[@yensimartinez2027]

@@wilbertlong It all depend on the area you bu or the price of the property. But it ranges from $50 and up

[@alansheppard6718]

Hello Norberis, you're looking lovely as ever. I really enjoy your channel and I especially like this video but one thing you left out is what if you put your money in as U.S. dollars can you take it out of the bank as U.S. dollars and do you get charged a fee for doing so....I asked because some counties won't give it back to you in U.S.D.

[@NorberisR]

I mentioned that. I said if you deposit in dollars it stays in dollars. So you can only withdraw it in dollars from the bank. Whether there is a fee or not, I'm not sure. You would need to check with that particular bank.

[@alansheppard6718]

Ok thank you.

[@themanthemyth7950]

Great content. Does one abolutely need a letter from the job if my bank account statements show that I get direct deposit payments from them? Also, would it be easy to get a Dominican Debit Card once you're all set up? Also I don't think a person can take out US bucks in a Dominicano ATM right? Currently here and I am my own "MoneyGram Papi", I send money to myself that way, which is cool, just the lines are a BITCH!

[@NorberisR]

Thank you. No you can't take dollars out of a ATM. And yes you can get a Dominican Debit card.

[@greybeard5774]

Very useful info! So as I understand there is no chance to open an euro-account, if I'd happen to have a constant income in euros from abroad .. just pesos or US dollars only?

[@NorberisR]

I didnt ask that question but I can find it out. I'm sure you can. There are many Europeans there.

[@NorberisR]

Thanks for answering this.

[@domingosantos1292]

{Great}(👍){video}

[@halima23862]

Thank you.😍

[@NorberisR]

You're welcomed!

[@alfredmayes5005]

Norberis, I’ve heard stories about crazy fees with Dominican banks. Can you tell me about the bank fees?

[@NorberisR]

Ive never heard that. You would need to check with each individual bank. If i do a follow up video I will address that.

[@alfredmayes5005]

@@NorberisR yes because I’ve been told that’s why cooperativas are popular because they don’t charge the same fees as banks. Maybe they are inactivity fees or minimum balance fees but apparently the banks are charging clients to collect revenue.

[@sandragarcia9934]

Hello, I am Dominican but I live in the USA, one question, I only need those three documents! Gracias

[@NorberisR]

If you are Dominican you only need you cedula, letter from your employer and the money to open the account.

[@sandragarcia9934]

@@NorberisR can I use my w2?

[@DominicanGringo]

We have popular bank in NY is it the same bank? and can you open an account in DR and make transactions here in NY?

[@NorberisR]

I'm not sure if that's the same bank or not. I don't think it is though. Because I've been looking for a bank that can do what you described and I can't find one.

[@carsonbankztog4487]

Hola mi amor, can I open a bank account online while I am still in the USA? or do I have to be in Dominican Republic to do it in person?

[@NorberisR]

You have to be in DR to open a bank account.

[@miguelloco1487]

Hello k lo k , It's Migueloco can you please give me info on getting a residency and celluar

[@NorberisR]

I don't have any information on this process. I recommend contacting a lawyer. Send me an email at [e-mail] and I will forward you a lawyer's contact info that i use.

[@miguelloco1487]

@@NorberisR after researching I found it all starts here in the states with the Dominican Republic embassy here. I'll also hit Taylor up. I think he has his. Thanks 🇩🇴

[@agl696]

I am hearing don’t they charge maintenance fee if you don’t add money to your account monthly don’t matter the amount you have in there. True

[@NorberisR]

I'm not sure if they do or not. But I don't think they charge maintenance fees here

[@KingdomRealms]

I have Regions Bank my question is how do I withdraw money from my debit card in the Dominican Republic? Also, when the money is withdrawn, will it come out in dollars or pesos?

[@NorberisR]

From the ATM or get a cash advance from Popular bank. Typically the money is withdrawn in pesos but now some banks offer withdrawal in dollars.

[@nmesis582]

Thank you

[@NorberisR]

You're welcomed

[@lorigovi718]

Thank you for answering the question I had: Can we open two accounts, one for dollars and the other for pesos?

[@NorberisR]

Yes you can. I actually recommend doing this.

[@oscarmartinez50]

@@NorberisR Why is having money in both currencies recommended? I

[@NorberisR]

@@oscarmartinez50 as I mentioned in the video to use the Dollars account as a savings account the dollar typically goes up so you make money having this account. And of course you want a Pesos account for normal everyday transactions as this is the formal currency in the country. Rarely can you go anywhere and pay with dollars.

[@RaySmith79]

What are the fees of these accounts? And why not Scotiabank? And Scotiabank allow free transaction with bank of america and Scotiabank customers from US and Canada. For me I have Scotiabank since I am Canadian and use my card in Scotiabank Dominican for free and same for people with bank of america bank account.

[@NorberisR]

I don't know the exact amount of each that will depend of the bank.

[@BacktoBasicsTravel]

Good info on Scotiabank. Good to know about theur relationship with Bank of America who I also bank with. I'm heavily leaning towards opening a Scotiabank and want to go to DR prepared to open one. Do they also taje 3-5 days?

[@damarysbreeding623]

Cual sería la mejor manera para mi esposo recibir su pensión aquí? Si sabes algo . Gracias. La información del banco es muy buena

[@NorberisR]

De nada❤

[@lpaschak]

Do the banks have apps so I can make deposits from my phone? Or will I have to travel into the country every time I need to make a deposit?

[@NorberisR]

Not that I know of. They apps but I don't think you can make deposits.

[@lpaschak]

@@NorberisR ok, if you find out how a gringo can make deposits without going into the country itll be really appreciated. Thanks for all your videos and information. It really helpful.

[@NorberisR]

@@lpaschak bank wire is the only way I know of.

[@theonlinegemini]

gracias

[@NorberisR]

De nada

[@theethicalhacker7271]

So if I make money in USA, and I move to DR to live. I should start 2 bank accounts and transfer the money from the USD to pesos to buy things?

[@NorberisR]

The USD bank account is only acting as savings account. You should not want to exchange all your money to pesos. But if you want to have 1 account you can do this also just wire your earnings from your US Bank account to your Dominican Bank account. Or send yourself money from your US account. Its really your preference.

[@mrsteevedominiwue]

I live in Canada, and I'd like to open an account in DR without being physically in the country. Is that possible? If yes, which bank will allow me to do so?

[@NorberisR]

No it's not possible. You have to physically be in the country.

[@jasontaylor3514]

Una pregunta. Yo puedo abrir una cuenta con Banco BHD desde USA o yo tengo que estar allí? En RD?

[@NorberisR]

No. Tu tienes esta aqui.

[@viejitaaa]

I went to Banreservas today and they wouldn't open an account for me because I have been here for longer than 30 days (which is the amount of time the "tourist card" lasts here as a US citizen, although I have been living here for over four years (I go back to visit the US every year, though) So I'm going to have to leave the country (which I didn't plan on doing for at least another 6 months) just to open an account...

[@NorberisR]

Go to another bank and check their requirements. My husband opened his at Banco Santo Cruz with no issues.

[@viejitaaa]

@@NorberisR I would do that but I live in a small town (Las Galeras) with only one bank!

[@yonnapereyra6859]

What is the interest rate for savings accounts in your country?

[@NorberisR]

I don't know that answer. I would have to check.

[@knight3131]

If you keep your money in dollars, what interest do you get for the money ?

[@NorberisR]

Depends on the bank and the percentage varies.

[@cameilamonteith63]

What if you have a soctia bank account already and they have one their can you not just get a dr Debit care dor that bank

[@NorberisR]

They are not the same. They are separate entities.

[@cameilamonteith63]

@@NorberisR OK thanks

[@domingosantos1292]

^[]>

[@Redx508]

does this info apply to a joint bank account also? US citizen with a Dominican

[@NorberisR]

Good question. In terms of the identification yes. But proof of employment in not sure. I would have to check.

[@greggwilliams4533]

If have huge amounts of money in a bank here. How can you bring it there,without the penalties ?

[@NorberisR]

I'm not sure. But I know over a certain amount you will have to report.

[@missiongold8188]

Do the documents required to opem an account in DR have to be in Spanish or can they be in English?

[@NorberisR]

The documents are in Spanish.

[@missiongold8188]

@@NorberisR thanks, also when you opened a bank account I hear that they usually do a background check on people who open them, what kind of background check do they do? Is it a criminal background check or a credit/financial check?

[@LeverageLifeAndMoney]

What are the requirements to open a business bank account?

[@NorberisR]

I don't know the answer to that. I'll have to make a separate video for that one.

[@joshuaalexander8327]

Do they have prepaid Visa debit cards there like they do in the USA my girl says no but I don't think she knows what I'm talking about lol

[@NorberisR]

No we do not prepaid debit card

[@joshuaalexander8327]

@@NorberisR ohhhh wow now I lost a bet to her I'm never going to hear the end of this lol thanks for the response

[@NorberisR]

Lol😆

[@mardocheetate1060]

@@NorberisR hi please I need some information about building in DR.I tried to email you but it’s not working

[@NorberisR]

@@mardocheetate1060 [e-mail] may be you're spelling it wrong. It works I've beem getting emails.

[@samuelhoward9530]

Can you use a check stub as proof of where you get money from?

[@NorberisR]

Yes some bank will take that some want a letter from your employer.

[@samuelhoward9530]

@@NorberisR Gracias

[@GeorgeSeeAll]

Does the person providing the reference need to have an account in the bank? and Is there online banking? Thanks in advance.

[@dianasavinon9900]

All have banking

[@NorberisR]

No they do not need to have a bank account in the bank. Yes you can bank online.

[@luisjimenez2740]

Norberis cual es el mejor banco con la mejor cuotas a plazo fijo?

[@NorberisR]

Ahora mismo los banco estan pagando las cuotas muy bajas. Pero eso va a depender del tiempo y la cantidad.

[@luisjimenez2740]

@@NorberisR de 3,a 5 años y cantidad sobre 5 millones

[@rebeccajeanty5832]

Hi noberis where can I contact you personally for some questions

[@NorberisR]

You can send me an email at [e-mail]

[@ZONRICH]

Hi Norberis. How much is how much is a Dominican passport I'm confused right now cuz I'm trying to help my fiance get a passport so she could come here do the United States so they are different prices so how do how much is today's passport in the Dominican Republic my name is Kevin thank you and gracias

[@NorberisR]

Passports are around 5500 pesos

[@marialuna5165]

Can I open an account online from the USA

[@NorberisR]

No this is not possible.

[@aadilahmed9762]

Hi, can you assist to open a company which will be used for payment collections?

[@NorberisR]

I will need more information to determine if can help or what fees can be. You can email at [e-mail].

[@lorainelopez4558]

Is there any fees when you deposit dollars. If I want to just sent a portion weekly, will there be any fees for each deposit?

[@NorberisR]

if you are asking from the bank that you are depositing the money to, no there is not charge for that

[@lorainelopez4558]

thank you for your quick response, What im really trying to find out is,...im planning to move to D.R in the next couple of years, ( 4-5 yrs) My planis to open a savings account from now while still living in U.S. Start saving and for the end of next year start looking to buy land and build. My question is, when I open an account, will there be any added fees for international deposits and is it worth it, will i be able to get a loan from the bank.?

[@prof.julsonetienne3181]

Did I miss that? I didn't hear anything about proof of address.

[@NorberisR]

You don't need a proof of address to open a bank account.

[@prof.julsonetienne3181]

@@NorberisR I understand. Even they don't ask to prove it, but you have to have one. Correct?

[@franknyc30]

I opened a dollars account in Banco Reserva and they issued me a debit card.

[@NorberisR]

Interesting. Thanks for sharing. This is good to know.

[@franknyc30]

@@NorberisR I'm also going to build a villa in Bahia Principe Playa Nueva Romana and may need some advice in the near future if you don't mind. Keep up the good videos. Another thing I saw you passed my mom's house in Naco from one of your videos LOL

[@NorberisR]

Ok. Sounds great.

[@antoniothomas3862]

If I open one in pesos will they give me a debit card.

[@NorberisR]

Yes.

[@antoniothomas3862]

@@NorberisR Gracias Linda

[@luisacosta3370]

Which is the best bank to have your money?

[@NorberisR]

Their all pretty much the same. Its mainly preference. Popular and BanReservas are the most common.

[@robert-phoenix]

How does direct deposit work? For instance, can I open an account and have a monthly deposit come from my paycheck to the account?

[@NorberisR]

That's a great question. We are going to have to figure this out when we move because we get deposit into our US banks.

[@bennierichardson9077]

WhaWhat is the minimum amount to open a savings account? Pesos? Dollars?

[@NorberisR]

Depending on which bank you are using but typically is between 500 and 1000 pesos and for US between $300 and 500 US.

[@adriandiaz8665]

How would I open a corporation

[@NorberisR]

I don't know the answer to that. Maybe I'll research that and make a video on it.

[@enochlee3055]

Los documentos puede ser en inglés también ?

[@NorberisR]

Cuando he preguntado en los bancos que he visitado no lo tienen en Ingles.

[@halima23862]

Can you have 2 cards?

[@NorberisR]

Good question. I'm not sure. I'll have to find that out.

[@domingosantos1292]

{☆☆☆God☆☆☆}{🙏}{☆☆☆bless☆☆☆} {☆☆☆Republica{🙏}dominicana{☆☆☆}

[@emtwolf2001]

Which is best for someone moving to DR

[@emtwolf2001]

@@CrueFanatic thank you wife and I are looking at moving out of US and to DR

[@NorberisR]

BanReservas is a good bank. I like Scotiabank and BHD.

[@chiccardimindcoach2080]

Can you open an account online?

[@NorberisR]

No you can't. You have to do it in person.

[@jamesofalltrades4359]

what is your email address? I have a lot of questions

[@NorberisR]

[e-mail]

[@jamesofalltrades4359]

@@NorberisR it’s not working

[@NorberisR]

@@jamesofalltrades4359 I've been receiving several emails. copy and paste this address. [e-mail]

[@jamesofalltrades4359]

@@NorberisR still not working lol. Can you email me [e-mail]

[@billygriffin1055]

Sounds like a horrible economy.

[@NorberisR]

You don't say🤷🏾

[@frankstocker1921]

Thank you. Very helpful

[@NorberisR]

You're welcomed!