Paying your rent

Gman123 Active member

40POSTS

5 years ago

Hey guys just wondering what the most common way to pay your landlord here in the DR Is when your money is coming from a bank in another country thanks.

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scoldoc Active member

44POSTS

5 years ago

I recommend opening two accounts, a pesos and a dollar account. if you have to pay your landlord in dollars, depending on the stability of the peso, you may be limited in exchanging changing pesos to dollars each day. If you transfer dollars in to a dollar account you don't need to convert.

Krumite Contributor

145POSTS

5 years ago

Thank you : allow me to ask , can a bank account be opened in Euros ? I believe the minimum is 6k is that correct ?

planner Dominican Republic Expert

17758POSTS

5 years ago

Gman it all depends on your landlord. I have paid by bank transfer. I have paid in cash. ( My least preferred method) I have paid in pesos and I have paid in dollars. And I have paid the lawyer who wrote the contract who paid the owner.

Sometimes they specify on the contract itself

Gman123 Active member

40POSTS

5 years ago

Thanks Planner just checking did you get my pm about insurance?

ddmcghee Dominican Republic Expert

1945POSTS

5 years ago

Krumite - yes, accounts can be opened in Euros. I don’t know which banks, but I have heard others say they have them here - some have euro, dollar and peso accounts.

planner Dominican Republic Expert

17758POSTS

5 years ago

Gman let me check for your message honey

Krumite Contributor

145POSTS

5 years ago

Thank you for the info. We intent to have 1 in euros , 1 in U.S dollars and 1 in pesos , the difficult part will be doing all this at the same time, buying property , opening bank accounts applying for residency , my wife and I are there for good, for both and it will be a good change along that we owe it to ourselves.