How to open a bank account in the Dominican Republic
One of the most important parts of re-locating anywhere is having a bank account, somewhere you are able to deposit, send and withdraw money from.
In the Dominican Republic there are numerous banking institutions, all of which are backed by the central bank, which means that your money will always be safe.
In the Dominican Republic you can open an account in the local currency, Dominican Peso (RD$), American Dollars (US$) or Euros (€).
These are the names of some of the banks in the Dominican Republic…
Banco Popular Banco De Reservas Banco Leon Banco Del Progresso Banco Santa Cruz Banco BHD Scotiabank Citibank
To open an account in any of the above institutions you will be required to provide a reference letter from a bank where you have an existing account, a personal/commercial reference, a copy of your passport and currency – the usual minimum amounts for opening an account are US$200, €200 and RD$5,000.
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