Ain't it grand when you don't have international competition. (Not so grand for the public.)

Roy,
You gotta check out their fees on remittance, everyone on the island looks to make a killing on love ones helping out the family members held captive on this island.

I think you need to get around a little more RoyStone ,,there is a leading bank here from Canada,Scotia Bank, doing business in most places and also the bank from Venezuela and also Citibank just to name three .
Roberto Jose ...There is a bank here, I think it is Reservas ,that offers heavily reduced rates on remittances from overseas..it was reported here in DT

Ricardolito, there is a leading bank here from Canada,Scotia Bank,

As yet Scotia has not been allowed to fulling implement it's online banking... it is being held back from doing so even though it has branches/affiliations world wide that have the service... When I asked why they just shrugged, shock their head and mumbled umumm governemt&%^&umm..... but did say they had been waiting for over 5 year to be allowed to start it...???
Until all banks can compete on an equal footing it will never be a good place to shop around for a good bank..

Thanks, Ricky,

I've only seen them in the capital. The banks here charge 112 Pesos per ATM withdrawal, (as well as poor exchange rates) and set a low maximum, so you need many transactions to withdrawal a useful amount.

Also I notice the banks here pay a very low rate on credits and deposit stock.

Yes it almost seems the only thing you can do on the telephone or on-line is chat. If you want to do anything else, you have you traipse from office to office and wait in queues, while paying some shady-looking character to pretend to watch your car, and pay someone else for a better place in the queue. I'm told I'm becoming more Dominican every day.

"I'm told I'm becoming more Dominican every day."

And PURPLE aswell!

Pay-pal is cheaper

How can be 3.85 Billion Pesos in US$ 897.6 Million??? Maybe I have a break down.

I don't know, but I send money to BHD (Remesas Dominicans) via xoom.com and I get a pretty good rate. Actually, I could even send a direct deposit from xoom.com to over 2-dozen banks in DR (including Scotia Bank) for a very low fee.

As for ATM (ATH) fees, BanReservas does not have an ATM charge (at least the ones I have gone too) the others do, though, it is about the same U.S. banks charge when taking money from their bank with another bank's card. The average in the US is about $US 2.50

When it comes to exchange rates, they are actually not that bad, they are much better and closer to the actual exchange rate than what US credits card give me in when I am in DR.

Our banking systems in DR not using online much yet? well, our population is still very face-to-face service oriented, the same happens with immigrants in general that come to the U.S. (including Europeans) for some reason, people from the old world still prefer face to face.. with time they'll convert.

in the queue. I'm told I'm becoming more Dominican every day. Don't be ==
have a friend at a check cashing office. I just write a check on BoA - Wells Fargo or Citi and it's cashed at the rate now 39.9 no charge

7.6% in this economy. Sounds fishy! Money laundering , drug money, or cooked books: somebody paid the bank.

lovingit..very good and informative comment ,,my Banco Popular branch is never toobusy and is great face to face service that I like ,,and also with a little chit chat ..i always leave the bank feeling pleased.
In fact I seem to always have little chats with employees here in the shops where I am a regular ..that is old fashioned but is an endearing feature of Dominican life

@Ricardolito,

I agree, nothing really beats face to face. I do everything online nowadays, but those are things like paying bills and minor items that are simply replacing the need to write a check and spend half a day going to different offices to pay bills or mailing them in, but there are quite a few things out there, for which I personally prefer to go into the bank..

the computer does not acknowledge or talk back to me when I ask an important question :-)

I keep reading that the economy's booming, tourism is thriving, exports are at an all-time high, crime has been almost eliminated, the corrupt are being investigated, infrastructure is going in everywhere, the beaches are pristine, the rainforest is expanding, the president is solving the world's food crisis, and we're in the Guinness Book of World Records for reading.
So why all the whinging?

I think many people here would say the whingeing has been led by you ...but I am sure that you realise that there are so many wonderful person to person conversations and so many unique things here , that the aggravations pale into insignificence . and so glad you are not whinging now ...You must be enjoying your self more now