Retiring to Dominican Republic

I live in the United States & thinking of retiring to Puerto Plata next year. How is the banking system there?  I.e. Direct deposits to bank in DR from USA.  Also, is there an expat association?

Direct deposit depends on your end not this end. Your end has to have ability to do so. Many simply wire transfer every so often too local account. Or use bank card from bank home for atm at point of sale. Some fees may apply.

Expat association - there is Internations but not in Puerto Plata yet.

Banking usually is not a problem.  However we maintain a US account and have things deposited there and transfer  (or deposit a check) when the need arises.
No organized group on the north coast but lots of EXpats to socialize with .

Bob K

Thanks Bob. Is there a particular bank you deal with?  I would prefer to establish a relationship with one in order to avoid any hassle when I make a transaction.

We have used Banco Santa Cruz in Sosua for the last 12 years.  They seem to cater to the Expat community

Bob K

It very much depends where you are going to live.  The bank works really well for Bob in Sosua,  but others have complained about it in other cities.  Maybe they have a fantastic branch there, I wish they were all that good!!!!!

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