ATM Fees

[Derfish]

You are lucky to see your luggage again after leaving them with the taxi. I remember a story like that where the guy came back to see the taxi and his luggage gone, never to be seen again.

Well the taxi was waiting fior his money. I went to get it. My junk was probably worth a bit more that the fare, but not much!
Derfish

 

[william webster]

and smelled.....

haha

 

[Charlie888]

BanReservas is best.. Fee lower than Progresso..12,000 cash back limit and $112RD

Before I get to my point about ATM fees, here is some advice for newcomers. If you walk into and out of a bank on a main street and/or use a street ATM, there is a chance that a tigre will be surveilling you. If you do this, pause when you are ready to leave, scope your surroundings, and look back when you are walking to confirm that you are not being followed.

Once, when I entered and left Banco Popular on La Mella in Sto. Dom., my girlfriend, dominicana, who had been waiting outside, told me to get back inside. I was being surveilled. When he knew that we knew, he walked away. I got a physical description from my girlfriend, particularly color of shirt, so we could look out for him.

This is not paranoia but an intelligent security precaution so you can stay safe and happy in the D.R. It is better to use an ATM inside of a store, such as Plaza Lama or La Sirena. When you exit, no one knows that you had used a ATM inside. It is harder to be surveilled.

Now to my main point. Arbitrarily, I have been making ATM withdrawals from Banco Popular for ten years. Recently, the machine asked if I would accept the fee of RD$195.00. I clicked "yes" and completed the transaction. But when I looked at my receipt I found that the fee was actually RD$ 250.00! That's a lot of money! I complained to the manager about the deceit, intentional or not, and asked for a refund of 55 pesos. He refused on account of the Dominican more of refusing to refund any money under any circumstances, which is a whole topic in itself, and could take up an entire thread.

Solution? The solution I am looking at is obtaining a debit card and paying no more fees. The problem is that all banks require a host of difficult to obtain documents for foreigners. But if you plan to stay here for the rest of your life, like me, maybe the effort is worth it. If you go to a bank, just go to Services and ask for the document that lists account requirements for foreigners. I am now going to different banks to find out if some have requirements less onerous than others. "The jury is still out" on the answer to this question.

BTW, Banco Progreso has the lowest ATM fees I have found anywhere: RD$150.00. Also, the machines are beautifully designed. Many banks have machines whose buttons are slightly off center as they align with the text. You may press the wrong button. The Progreso machines do not have this failing. And "English" is clearly available to select.

BanReservas is best.. Fee lower than Progresso..12,000 cash back limit and $112RD

 

[bienamor]

BanReservas is best.. Fee lower than Progresso..12,000 cash back limit and $112RD

Well I will take banco progresso with their 150rd and limit of 20000 and sometimes 30000 at least with one draw I can pay my electric and cable.

 

[a_tl_player]

I know this thread is older, but I used a Progreso ATM today. I can confirm the low 150 peso fee and a high withdrawal ceiling, but the exchange rate was terrible. The rate was in the 51.XX peso range.

It's been a while since I used a Banco Popular ATM, but the rate was much more competitive. Use a bank like Charles Schwab that reimburses all ATM fees, and then Banco Popular may be the way to go.

 

[Waitman]

Progreso was recently bought by another company (Santander maybe?) And the last two times i tried a Progresso atm there was some kind of message about it not working so i figured they went poof! But maybe they are still around.

 

[USA DOC]

No, banks has different limits, consult your bank. The ATM itself can have a limit lower than your bank (normally does not)

During banking hours, you can go into the bank and make withdrawals of any amount with a teller. If you need to withdraw a large amount of money, this is the best and safest way to do it.

You can also call your bank and ask to temporarily raise your limit, whether the ATM withdrawal or debit purchase limit.

..what banks will allow withdrawals from a teller?..the banks here stopped doing that over a year ago.

 

[windeguy]

Schwab solves the problem

..what banks will allow withdrawals from a teller?..the banks here stopped doing that over a year ago.

Years ago I tried to use the ATM card withdraw function using tellers and was never able to do so at Banco Popular or BanReservas. Perhaps people were making costly cash advances instead?

A Schwab card is what I use. It solves the problem. Decent forex rate and refunds any fees.

 

[bob saunders]

..what banks will allow withdrawals from a teller?..the banks here stopped doing that over a year ago.

I do withdrawals at BHD at least once per week at the teller. Interestly the teller can't see your balance. Anything over 999 American dollars( from a dollar acct) or 100,000 pesos requires a second bank employee to input a code.

 

[bob saunders]

Progreso was recently bought by another company (Santander maybe?) And the last two times i tried a Progresso atm there was some kind of message about it not working so i figured they went poof! But maybe they are still around.

Progresso was bought by Scotiabank and their ATM still works fine, at least in Jarabacoa. I use it because it is conveniently located for me.

 

[etolw]

..what banks will allow withdrawals from a teller?..the banks here stopped doing that over a year ago.

Where is «here»? The last time I needed to withdraw money in the bank were 7 months ago, Banco Popular in Moca, buying a car. Never had a problem with any bank in DR. But I rarely have the need now. Have DR banks changed their policy lately?

Withdrawal from the ATM, I use Scotiabank in Cabarete. No ATM fees and no problem with withdrawal 30k DOP in one visit, needs 3 withdrawals a 10k though. I simply refuse to use banks that charge ATM fees, my bank charges 2% «invisible» fee on the transactions, that is enough to cover VISA and ATM’s transactions in my opinion.
The additional ATM fees were something DR banks invented some years ago to earn more money, furtunately not all ATM’s charges this extra fee.

 

[windeguy]

I do withdrawals at BHD at least once per week at the teller. Interestly the teller can't see your balance. Anything over 999 American dollars( from a dollar acct) or 100,000 pesos requires a second bank employee to input a code.

Are your withdrawals from an American (or Canadian in your case) bank using that teller? I have never used BHD, but Banco Popular always pointed me at the ATM machine.

 

[bob saunders]

Are your withdrawals from an American (or Canadian in your case) bank using that teller? I have never used BHD, but Banco Popular always pointed me at the ATM machine.

No, from my Dominican accts. I transfer US dollars from my bank in Canada RBC to BHD ( takes two-three days) It goes directly into my American dollar acct at BHD. I am at the bank twice a day so all the bank employees know me well.

 

[windeguy]

No, from my Dominican accts. I transfer US dollars from my bank in Canada RBC to BHD ( takes two-three days) It goes directly into my American dollar acct at BHD. I am at the bank twice a day so all the bank employees know me well.

Ah, not we are talking about at all, Apples and Oranges, in that case. And probably a big source of confusion. This is about taking money from a US bank at a teller in a DR bank using an ATM like withdrawal, not cash advance on a credit card. Taking out DR pesos, I go to the bank with that account and remove them using a pass book. Only way my wife will ever do it.

 

[alexw]

I am also a Charles Schwab member and I just withdraw money from any ATM because I'm reimbursed at the end of every month

 

[william webster]

Progreso allows Teller withdrawals....

I did it recently

 

[a_tl_player]

... but the exchange rate was terrible. The rate was in the 51.XX peso range.

Correction: The rate was competitive at 52.7 pesos per USD. The next day I see that my bank charged me a 3% foreign transaction fee, which skewed my exchange rate calculation. I plan on sticking with Charles Schwab bank going forward. Schwab doesn't charge a foreign transaction fee.

 

[Tarheel]

Hopefully this is not off topic. But is there a standard daily limit on ATM withdrawals for international ATM users?

Thanks

Rob

10,000 pesos normally.

 

[bob saunders]

10,000 pesos normally.

That is true at banco Popular but Progresso will let you take 20,000 and I am not sure what other banks allow.

 

[johne]

I am also a Charles Schwab member and I just withdraw money from any ATM because I'm reimbursed at the end of every month

When you say you are a "member" do you mean your have an account there? I have an account there and have a monthly "sweep" of my interest and dividends. So, are you saying have Schwab send it to DR bank and use ATM card to withdraw it? (I am ignorant on the subject because I have never, as in never, used a ATM card.)