Madrid, Spain. – Banco de Reservas and CaixaBank renewed their collaboration agreement to manage the sending of remittances from Dominicans residing in Spain, which includes greater benefits for those sending currency to the Dominican Republic.
Dominicans who are CaixaBank users will only pay a one-euro commission per shipment and will receive preferential rates for the exchange of currencies sent via Banreservas, both when sending their remittances and when making deposits in their accounts.
The CEO of Banreservas, Dr. Leonardo Aguilera, highlighted that the renewal of the agreement is a demonstration of the financial institution’s commitment to guarantee a fast and secure delivery of remittances from Dominicans residing in Spain, which translates into economic well-being for those residing in the Dominican Republic.
Aguilera detailed that Banreservas has a representative office in Madrid, from where it provides continuous assistance to the Dominican community in that European country, in addition to having more than 300 offices, hundreds of bank sub-agents and a wide network of alternative channels distributed throughout the national geography, which facilitates the withdrawal of received remittances.
He pointed out that nearly 300,000 Dominicans reside in Spain and send remittances exceeding US$800 million annually, a figure equivalent to 6.9% of the foreign currency handled in the local market.
The agreement was signed by Dr. Leonardo Aguilera, executive president of Banreservas, and Felipe Oriol, global director of Multilaterals and Financial Institutions of CaixaBank.
It is highlighted that nearly 40% of Dominicans residing in Spain are CaixaBank customers, making it essential to renew an agreement that reflects better benefits and conditions for such a significant community.
This renovation reaffirms Banreservas’ commitment to the well-being of Dominicans, by guaranteeing the secure sending of remittances, which directly benefits the Dominican community residing in Spain and positively impacts the national economy.
CaixaBank is the leading bank in Spain, with more than 20 million customers and the largest network of branches and ATMs in the country, with nearly 4,000 branches and a presence in more than 2,200 municipalities. 92% of residents in Spain have a CaixaBank branch near their home. In addition, the entity has a reference digital banking, with more than 12 million active customers.
The relationship between Banreservas and CaixaBank dates back to 2007, when the first agreement was signed. This renewal aims to guarantee greater benefits and convenience for both Dominican senders and recipients of remittances from Spain.
