Anyone would give me a piece of advice regarding the best bank to deposit money with in order to get a good return in rate?
Popular ? BanReservas ? BHD ?
Gracias !
Best rates for bank deposit in Dom Rep
8
471
That's the equivalent of asking "who will steal the least amount from me?" I know there are different products each bank offers, but I would NEVER deposit a large amount or invest money with banks here. There is zero protection for an investor, and way too many fees. Much better keeping your cash off-shore and transferring here as/when needed.
16632
So this is not quite true. There is protection for investors, just not in amounts you would like. When Banamerica went under accounts and deposits were guaranteed up to about US 21,000 equivalency. Not positive on exact figures but that's close. And that was per account!
Don't put all your eggs in these baskets is good advice.
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@oliabe i have same questions...
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@planner may I ask who do you bank with here ?
16632
Banreservas and banco Popular.
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Since I asked, I have been visiting a few places and the best rate I got was 8% from Banreservas. They call it a "certificado". one month's time. this is the min period.
You can go for 3 months and the rate is bigger. like above 10%.
It will probably slowly decrease in the next coming months but that is still very interesting compared to the 2.5% net I would get in France.
BanReservas is the biggest around here, belongs to the state, and is quite a strong secured investment. Way better than these american banks that have been going under recently in the US.
The DOP has been behaving well and strong compared to USD and EUR so you normally won't loose part of the currency on exchange rate.
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