convert canadian dollars to peso

donquixote

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Aug 2, 2005
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can anyone know if one brings canadian dollars to dr, can they exchange at banks at fair rate. now a canadian dollar is worth more than the us dollar, so one should get more pesos than us exchange rate. to change to us dollars in canada we have to pay the bank a 2% fee,,,which gives us less in us...thanks
 

FireGuy

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Aug 21, 2002
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Generally speaking the peso - Canadian rate will not reflect accurately the relative value of the Canadian dollar vs. the US dollar as the US dollar is what is desired in the DR, not the $CDN.

If you are a cash person you will generally recover your US exchange rate (and often even more) by buying $US in Canada and then converting to $RD pesos in the DR.

A better solution, IMHO is to use ATMs to withdraw pesos and then you will get the international rate which is more favourable and accurate. Of course you must withdraw enough to make the service charge (usually $3CDN - $5CDN per transaction) worthwhile.

Gregg
 

planner

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Sep 23, 2002
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This was covered in another thread: Condensed version:

No you will not get the appropriate rate of exchange here at the bank. Still about 29 to 1.

No you will not get the appropriate rate of exhange at an exchange house here. Still about 29 to 1.

Yes your bank will charge you at home to exchange.

BEST bet - use your ATM card to withdraw money in pesos here from your Canadian account at home. Factoring in the fee (if your bank charges one) you will still be ahead of the game. Make sure to withdraw 10,000 RD at a time (the max in most machines) - about $300 Canadian......
 

Tamborista

hasta la tambora
Apr 4, 2005
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I am not an expert on this, but I am fairly sure your best bet is going to be using the ATM in Sosua to draw from home.

Find out if Scotia Bank will wave an ATM/Exchange fees if you use Scotia in Sosua. (I realize it is a seperate bank.)

I am not predicting the Fx market, but you won't go wrong getting long a few USD at these levels!

Last sale 1.0185 in December Loonie Futures! (.9820)

tambo'
 

PabloPaul

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No chance of Scotia waiving ANY fees they can get their hands on.
In fact even transferring small or large amounts from scotia to scotia as in having it wired bank to banco will be subject to them sitting on it for as long as possible in order to squeeze some interest out of it.
Trust me.
Not sure of the per use ATM transaction fee though. I do know that from TDCanada Trust it is $5 per withdrawal. However, by switching to their premium chequing account they waive ANY international fee, give you unlimited cheques, the use of a safety deposit box, etc...etc... The fee for this account is $26/month so take your pick of poison.
Withdrawing RD$10 000 and then pressing 'more banking' and doing it again and again will cut these fees down drastically. Then you only have the problem of making it home without getting robbed with that fat bulge in your pocket !
Not THAT bulge, get yer mind outta the gutter !
: pp.
 

Tamborista

hasta la tambora
Apr 4, 2005
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How long are you going to be in RD for that this is such an issue.

Since the CAD closed at a historical HIGH do ATM fees really put a damper on your budget? It is the safest and best way to change your dough. If you are afraid of ATM's, you can use a debit card in the branch.

tambo'
 

snowbird44

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Oct 29, 2004
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Using a "DEBIT' card ( from Canada/US) inside the bank? I wasn't aware that this was possible.
That would definitely stop some of the fraud at ATMs
 

La Profe_1

Moderator: Daily Headline News, Travel & Tourism
Oct 15, 2003
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I was in RUSA in Puerto Plata today (afternoon). They were giving 32 for Canadian dollars and 33.15 for US.

Of course, there is no guarantee about the future.
 

dr_qt

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Jun 7, 2007
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Exchange Canadian for US at home. Use American Dollars in the DR. The best bet for sure!!

I exchange mine at Money Mart, better deal than the banks.
 

Rocky

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Apr 4, 2002
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I was in RUSA in Puerto Plata today (afternoon). They were giving 32 for Canadian dollars and 33.15 for US.

Of course, there is no guarantee about the future.
That's as good a deal as I've seen on CDN cash, but it's still 3 1/2% less than US, making it worth buying US curency in Canada and changing the US into pesos here.
 

Spicedwine

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Apr 25, 2006
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No chance of Scotia waiving ANY fees they can get their hands on.
. The fee for this account is $26/month so take your pick of poison.

: pp.

?? POISON ?? This has been covered in many other threads - get a ' Basic Chequing account' at a Scotiabank in Canada - $7.00 CDN / month. NO ADDITIONAL CHARGES OR TRANSACTION fees - this means you can make UNLIMITED ATM withdrawals at any SCOTIABANK in the DR. As Rocky and others have said many times - this is the BEST rate you are going to get here for CDN $.