SB F opening of savings accounts and increases deposit limit

The Superintendency of Banks (SB) issued Circular SB: CSB-REG-2026000014, through which it updates the requirements applicable to basic savings accounts, incorporating measures aimed at expanding the population’s access to financial services, especially for sectors in vulnerable situations.

The provision introduces a new type of basic savings account aimed at beneficiaries of government social programs, allowing financial intermediation entities to offer products specifically designed for the receipt and management of state subsidies.

As part of the improvements, the SB increased the deposit limit allowed for basic savings accounts, which goes from RD$45,000 to RD$75,200 every 30 days, while eliminating restrictions that prevented users from accessing this product when they already maintained other financial relationships with an entity.

The circular also incorporates mechanisms for contracting these accounts through digital channels and allows them to be opened with a zero balance. This further facilitates the population’s access to the formal financial system.

Likewise, the regulation establishes a specific regulatory framework for accounts linked to social programs, defining rules for the administration of freely available funds and resources intended for specific purposes. Similarly, it incorporates safeguards to prevent resources derived from subsidies from being used to offset the financial obligations of the beneficiaries.

The provision maintains current regulatory standards regarding identification, security, anti-money laundering prevention, and financial user protection, incorporating tools in line with current needs and the sector’s digital transformation process.

The Superintendency highlighted that, in accordance with the strategic guidelines set out in Meta RD 2036, this regulation contributes to removing access barriers and promotes greater household participation in the financial system.

“Through more accessible accounts, digital solutions, and products adapted to social program beneficiaries, the economic participation of more Dominicans is strengthened, fostering more inclusive and sustainable prosperity,” stated the supervisory body.