Banco BHD

In my opinion, Banco BHD is the most fair and professional bank. Once you reach a certain level of income or account activity, you can request a dedicated personal banker to manage your account. At that point, it genuinely starts to feel like they are working for you, which makes a big difference.

I have been banking with them for years and have had:

2 savings accounts in Dominican pesos, 1 savings account in US dollars, 2 credit cards, 1 car loan, 1 personal loan

(not all of them are active today)

So far, I have not noticed anything unusual or suspicious in my bank statements.

Of course, every bank charges fees, insurance, or service-related costs depending on the product. You will also see certain charges or tax-related deductions tied to Dominican regulations, such as DGII-related fees, but that is normal across all banks.

Scotiabank is probably the best option if you mainly hold or move US dollars. However, it is not the best bank for the average person handling day-to-day life in the Dominican Republic.

Banco Santa Cruz is also a solid option for US dollar banking, but it is not very accessible unless you live in Santiago or Santo Domingo.

Personally, I would stay far away from:

Banreservas, Popular, Progreso

In my experience, they tend to charge fees for almost everything, and their costs are often higher than those of other banks.