Banking In The Dominican Republic

The government is keen to attract foreign investment and this is evident in the number of incentives banks offer clients. These include tax-free bank account interest and zero tax on company profits for relocating overseas companies. An added benefit is that information relating to your personal banking situation is not proactively disclosed by the Dominican Republic.

Local currency (DOP) can easily be withdrawn over the counter or at cash point machines (ATMs) all over the country. Please note that ATMs only dispense DOP. If you require US Dollars, they will need to be purchased at exchange offices which charge high rates for the privilege. You are well advised to deal in Pesos or bring enough Dollars for your trip.

You may wish to arrange mortgage finance in the Dominican Republic and up to 80% can be obtained by foreigners, in either local currency, USD, GBP or CND.

Main banks in the Dominican Republic:

BANCO BDI Main Branch Ave. Sarasota # 27 Santo Domingo Tel. (809) 535-6069 http://www.bdi.com.do Email: bdi@codetel.net.do	Banco Atlas Cumbres Ave. Tiradentes & Ave. Roberto Pastoriza Tel. (809) 547-9000 http://www. altascumbres.com
Asociacion de Ahorros y Prestamos Main Branch Ave. 27 de Febrero & Maximo Gomez Santo Domingo Telephone: (809) 689-0171	Banco Mercantil Main Branch 303 Roberto Pastoriza Santo Domingo Telephone: (809) 567-4444
Banco Del Progresso Main Branch 3 Ave. John F. Kennedy Santo Domingo Telephone: (809) 563-3250	Banco BHD Main Branch Ave. Winston Churchill & Ave. 27 de Febrero Santo Domingo Telephone: (809) 243-3232
Banco Nacional De La Vivienda Main Branch 53 Ave. Tiradentes Santo Domingo Telephone: (809) 565-6621	Banco Popular Main Branch 20 Ave. John F. Kennedy Santo Domingo Telephone: (809) 544-8000 http://bpd.com.do
Banco de La Pequena Impressa Main Branch 250 Ave. Bolivar Santo Domingo Telephone: (809) 508-3144	Banco Santa Cruz Ave. 27 de Febrero #49 Santiago Tel. (809) 724-2222 http://www.bancosantacruz.com.do
Citibank Ave. Wiston Churchill Plaza Acropolis Santo Domingo Tel. (809) 955-2601	BanReservas Main Branch Isabel La Catolica # 201 Santo Domingo Tel. (809) 960-2000 http://www.banreservas.com
Scotia Bank Main Branch Ave. John F.Kennedy & Ave. Lope De Vega Santo Domingo Telephone: (809) 544-1700	Banco Vimenca Abraham Lincoln # 306 Santo Domingo Tel. (809) 532-9797 http://www.bancovimenca.com.do

Opening times are generally Monday to Friday - 09:00 hrs to 15:00 hrs. Some banks are open on Saturday mornings.

Banking Guide

Main banks in the Dominican Republic:

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