You are getting fantastic rates! I've read you mentioning Schawb account a few times. Is the visa your using linked to your Charles Schwab account? If so Imma look into getting me one. TIA
- Thread starter johne
- Start date
STRONG dollar. How hard will it hit the DR??
With my Citibank MC, I'm getting the normal exchange rate, 54 and change. I never use my either of my debit cards here except for ATMs. I honestly don't know what they would charge.
I wish I could give you a good answer as I too am looking for the best way to exchange US$ to DR$. I pay with pesos because most of my tenants pay their rent in pesos. If you become a regular customer of an exchange house they offer the best rate and deliver-- they go to your house and bring you the cash to exchange whatever amount you want. I use to do it that way about a decade ago when I was in construction of a rental building but haven't used an exchange house in a long while. If you find a good option please share.
Yes Chase on my debit give me 54.55 exchange rate but the 3% exchange fee kills the vibe. 🤪
My Fidelity debit card has no exchange fees and neither does my citibank mastercard. I am pretty sure that there is a fee for Discover, which is why I never use it.
Time to shop around for a better option Chase is killing me with that exchange fee.
No, my Schwab account is a debit/ATM card that I only use as an ATM card.
Although if I wanted to use it like a VISA card and direct debt my account I would not incur any foreign exchange fees.
But I don't use it that way.
I feel debit cards are financial liabilities.
I will send you a personal message about the VISA credit card I use.
Brother, I thought the Chase Sapphire visa card did not have any exchange fees.
The dollar to peso rate has been 54 to 55 pesos now for about one year. The DOP is the only currency I follow that has gained against the dollar in recent times. The
CAD
COP
GBP
EUR
RUB
TRY
THB and KRW have taken noticeable losses against the dollar during the last 12 months. Perhaps this economy is doing better than I thought it was.
CAD
COP
GBP
EUR
RUB
TRY
THB and KRW have taken noticeable losses against the dollar during the last 12 months. Perhaps this economy is doing better than I thought it was.
Will check. I have the Chase Freedom card. I don't use CC very often. I usually just use my debit card. I should get into the habit of using a credit card for security reasons.
The best exchange rates when exchanging cash have been at my banks but only when exchanging 5000 USD or more.
It has been a long time since I have exchanged smaller amounts of cash.
Preferring to just hit the ATM when I need a little"effectivo" for those type of transactions
But in pinch, I have hit Caribe express because I have never had a good "casa de cambio" in my pocket that I trusted.
I see great rates advertised but they seem to always be in sketchy locations.
Exactly Bro,
I highly recommend it‼️
Better protection of your account.
Even it you choose to pay the balance at the end of every month.
I was told by my bank in the states several years ago when traveling/ living in another country and using an ATM/ Debit Card to always use the same institution (whenever possible) this way if there is ever anytype of problem with transactions or fraud, my bank back in the states will only have to deal with one institution rather than several to get it sorted.
I always use the state bank no matter which country I'm in as they usually have the lowest fees and best exchange rates. I also have a local account with them down here as well.
Just called chase and my Freedom card also charges a 3% foreign exchange fee. So I asked if I can trade my Freedom card for the Sapphire, she said no but that I could apply for the Sapphire if I wished. She told me that I could probably get approved instantly. I asked how much was the annual fee and was told US$95. I thanked her and said that I'll call her back.
A bit of back of the envelope math tells me I need to spend on the Sapphire card US$3,166.67 in DR per year just to break even instead of using my Chase debit or freedom card, with $0 annual fee and 3% foreign exchange fee. I think I'll pass on the Sapphire card for now and continue using my Freedom card instead of my debit on the rare occasions I do use a card to benefit from account protection. It's not worth it to me at the moment since I hardly used my foreign debit or CC here in DR.
Thanks to all that helped with the great advice and suggestions much appreciated. DR1 is truly a good resource for foreign and domestic research.
Wait! Don't do anything thtat might change Jamie's mind. He's hot to come here
key word: perhaps. Never let your guard down.DATS when you get slammed on the blind side.Especially in "wonderland" as you call it
I have 2 Chase Cards. Although they are for specific brands, Amazon and United neither charge foreign transaction fees. Actually, I like the Amazon card since we order a lot from Amazon and the points add up quickly.
NL:
I have the Sapphire card and it is fantastic............even with the $95.00 fee.
If you apply and are approved.............you receive 60,000 bonus points after spending $4,000 in the first 90 days. Those bonus points are worth $650+ on travel depending on how you calculate their value. So if you have a purchase(s) you can make totaling $4,000 your in. That is what I did and of course paid it all off to avoid interest charges.
And the perks do not stop there. They will pay your Global Entry fee of $100.00................a must have to avoid long immigration lines these days. And with GE you automatically are enrolled in the Trusted Traveler program............which gets you the shorter security lines at check in. Here is a list of the perks............check to see if it works for you;
20 Benefits of the Chase Sapphire Reserve - NerdWallet
Chase Sapphire Reserve benefits are so rich — including rewards, perks and protections — that it could be considered a bargain even at $550 a year.
Respectfully,
Playacaribe2
One correction: The Sapphire Reserve has a $550.00 annual fee..........not $95.00. But they provide a $300.00 annual statement credit for any travel................making this, even at that price worth it for many users.NL:
I have the Sapphire card and it is fantastic............even with the $95.00 fee.
If you apply and are approved.............you receive 60,000 bonus points after spending $4,000 in the first 90 days. Those bonus points are worth $650+ on travel depending on how you calculate their value. So if you have a purchase(s) you can make totaling $4,000 your in. That is what I did and of course paid it all off to avoid interest charges.
And the perks do not stop there. They will pay your Global Entry fee of $100.00................a must have to avoid long immigration lines these days. And with GE you automatically are enrolled in the Trusted Traveler program............which gets you the shorter security lines at check in. Here is a list of the perks............check to see if it works for you;
20 Benefits of the Chase Sapphire Reserve - NerdWallet
Chase Sapphire Reserve benefits are so rich — including rewards, perks and protections — that it could be considered a bargain even at $550 a year.www.nerdwallet.com
Respectfully,
Playacaribe2
The Sapphire Preferred is $95.00 per year............but you still get the 60,000 bonus points with your spending.
Here is a head to head comparison;
Chase Sapphire Preferred vs. Sapphire Reserve: Should you go mid-tier or premium? - The Points Guy
The Chase Sapphire Reserve to the Chase Sapphire Preferred are two much-loved travel rewards credit cards. Here, they go head to head so you can decide which is better for your wallet.
Either card is a great addition.....depending on your spending habits.....and both have no out of country transaction fees.
Respectfully,
Playacaribe2