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Banreservas review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banreservas suits people living and working in the Dominican Republic who want a peso savings account with cash access and a variable rate. The monthly fee is DOP 20, set against a site median of €0, and the account runs with no fixed term.

Key facts

Best for
Anyone in the Dominican Republic who wants peso savings, ATM access and a variable rate.
Monthly fee
DOP 20↗
Currencies
2↗
Transfer fee
2% to 5% of the send amount, plus a fixed US$2.00-7.00 fee on amounts up to US$100 with Ria↗
Legal entity
Banco de Reservas de la Republica Dominicana↗
Headquarters
Dominican Republic↗
Founded
1941↗
Support channels
Phone, Help-centre↗
Official website
banreservas.com

Savings

Headline rate
0.3%↗
Rate type
Variable↗
Minimum deposit
DOP 3,000↗
Access terms
On demand via ATMs, TuBanco online banking and the Banreservas App; optional savings passbook; no fixed term↗
Account kind
Easy access↗

Money transfer

Delivery time
2-3 hours (metropolitan areas), 4-5 hours (rural areas)↗
Payout methods
Bank, Cash-pickup, Card↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
Google Play

Pros and cons

Pros

  • The savings account pays a variable rate of 0.3% with no fixed term, so the rate can move
  • Money is reachable on demand through ATMs, TuBanco online banking and the Banreservas App
  • Remittances can be collected as a bank deposit, cash pickup or card payout
  • Support runs by phone and through a help centre

Cons

  • The account charges a monthly fee of DOP 20 where the site median is €0
  • An opening deposit of DOP 3,000 is needed, against a site median of €0.11
  • Remittance transfers take a percentage of the send amount with an added fixed fee on smaller amounts
Banreservas

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Scored 9.3 / 10 by VaultCue.

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Who it suits

  • Residents of the Dominican Republic who keep everyday money in pesos
  • People paid in pesos who want a variable rate without a fixed term
  • Anyone sending money to the Dominican Republic who wants cash or card payout

Who should look elsewhere

  • People holding several currencies, since the remittance side covers 2
  • Savers chasing the highest headline rate on the site, where the median is 3%
  • Anyone wanting a free account, since AXI Card, XTB and Skrill all charge €0

Fees and FX

The savings account carries a monthly fee of DOP 20, which sits above the site median of €0. Remittance transfers charge a percentage of the send amount, plus a fixed fee on smaller amounts sent with Ria. The account itself has no fixed term, so the variable rate of 0.3% can change over time.

How Banreservas compares

Frequently asked questions

What does the Banreservas peso savings account cost each month?+

The account charges a monthly fee of DOP 20. That is a cost for a peso savings product with ATM access, so it suits people who keep a working balance rather than a small standing amount.

Is there a fixed term or lock-in on the savings account?+

No. The account has no fixed term, and the rate on it is variable at 0.3%. The rate can therefore change, which matters if you are holding the balance for longer than a few months.

How much do I need to open the account?+

An opening deposit of DOP 3,000 is needed. The site median minimum deposit is €0.11, so the starting balance is worth checking against other local accounts.

How do I get at my money?+

Money is available on demand through ATMs, TuBanco online banking and the Banreservas App. A savings passbook is optional if you prefer to keep a record away from the app.

What does a remittance cost and how fast is it?+

Transfers take a percentage of the send amount, with a fixed fee added on smaller amounts sent with Ria. Delivery runs 2-3 hours (metropolitan areas), 4-5 hours (rural areas), so plan around the difference between city and rural areas.

How do I receive money sent to me?+

Payouts land as a bank deposit, a cash pickup or a card. The remittance side covers 2, which is a small range if you need to hold several currencies at once.

How do I get help if something goes wrong?+

Support runs by phone and through a help centre. Both channels sit below the site share of listings that offer live chat at 40%, so a call is the quicker route.

Who is Banreservas and how long has it run?+

It is the Banco de Reservas de la Republica Dominicana, based in the Dominican Republic and founded in 1941. It is a domestic bank rather than a foreign app, so an account fits local daily banking.

Sources

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.

Banreservas

Banreservas

Anyone in the Dominican Republic who wants peso savings, ATM access and a variable rate.

9.3/10See alternatives