The Superintendency of Banks of the Dominican Republic issued a circular updating the requirements for basic savings accounts, with changes aimed at expanding access to formal financial services, particularly for vulnerable groups. The revision creates a new type of basic savings account for beneficiaries of government social programs, allowing financial intermediation entities to offer products tailored to receiving and managing state subsidies. The circular raises the permitted deposit limit for basic savings accounts to DOP 75,200 every 30 days from DOP 45,000 and removes restrictions that had blocked access for customers who already had other financial relationships with an institution. It also allows these accounts to be contracted through digital channels and opened with a zero balance. For accounts linked to social programs, the measure sets a specific regulatory framework covering the treatment of freely disposable funds and resources earmarked for specific purposes, and includes safeguards to prevent subsidy funds from being used to offset beneficiaries' financial obligations. Existing regulatory standards on identification, security, anti-money laundering and financial consumer protection remain in place under the updated regime.
Superintencencia de Bancos de la Republica Dominicana2026-07-14
Superintendency of Banks of the Dominican Republic updates basic savings account rules, adds social program accounts and raises deposit cap to DOP 75,200
The Superintendency of Banks of the Dominican Republic updated the rules for basic savings accounts to broaden access and create a dedicated account type for government social program beneficiaries. The changes raise the deposit cap to DOP 75,200 every 30 days, allow digital onboarding and zero-balance opening, and prevent subsidy funds from being used to offset financial debts.