RD$10,000 limit at Scotia Bank ATMs

Deyvi

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Dec 23, 2009
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My wife was just informed that Scotia bank started today with a daily limit on atm withdrawals of 10,000 pesos. We use a Bank of America debit card so this is somewhat of a problem. Their exchange rates with the card was bad but today with the new deal? they paid 37.30. Anyone experiencing issues with Scotia Bank?
 

AndyGriffith

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Mar 11, 2010
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Thanks for the update. I haven't tried Scotia. Do they charge the $112 fee per withdrawal? I have found that the exchange rates are fairly good with the debit cards when the cash actually comes out of the ATM after being debited from your account. I think only Progreso and BR don't charge the $112 fee now. $10,000 per day seems to limit the functions of the card, but maybe it is for the best with all the problems these ATM's have with networks, etc.
 

DR_Guy

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Feb 17, 2010
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BanReserva is still 4000 pesos per transaction, but haven't tried a daily limit in the last few days....
 

AndyGriffith

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Mar 11, 2010
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Might want to try Progreso. I pulled out $RD15,000 at one time. However, the next time I tried to do so, no money came out and they debited my account. Not Good! So keep transactions small. I have a feeling this is why the banks are limiting the withdrawal size as a result of this problem with the networks and atms.
 

Tarheel

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Dec 19, 2005
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Scotia Bank

When I was in Cabarete in September they charged 110 pesos per transaction.
 

Malibook

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Thanks for the update. I haven't tried Scotia. Do they charge the $112 fee per withdrawal?
Global ATM Alliance

Scotiabank is proud to be a founding member of the Global ATM Alliance, along with Bank of America, BNP Paribas, Barclays, Deutsche Bank 24 and Westpac.

2 Scotiabank will waive the International ABM Access Fee and Global ATM Alliance members will waive any terminal convenience or usage fees for any withdrawal transactions performed at Global ATM Alliance machines with your ScotiaCard or Scotiabank VISA. "Free Access" does not apply to Scotiabank ABMs in Puerto Rico, Costa Rica, El Salvador, Panama or Belize. For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Effective from April 5, 2004, the exchange rate includes an amount equal to 2.5% of the converted amount. All regular account fees continue to apply.
3 Caribbean countries include: Anguilla, Antigua & Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Netherlands Antilles (St Maarten), St Kitts-Nevis, St. Lucia, St. Vincent & The Grenadines, Trinidad & Tobago, Turks & Caicos Islands, US Virgin Islands.
 

Deyvi

*** I love DR1 ***
Dec 23, 2009
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We have always beeen limited, it seems by an amount at one time at different banks, but my Bank of America card has a limit of around 20,000 rd. so we may have hit it 2 or 3 times. It may be a network issue. My wife griped to a big boss about the change rates and he said that's why they were placing a 10k limit per day. Someone has been skimming lots of money!!!!!!
 

Deyvi

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Dec 23, 2009
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Able to withdraw 20k at Scotia bank today;2x10. Must have been a bunch of hogwash the bank mgr. gave her yesterday.
 

AlterEgo

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Jan 9, 2009
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Are you sure the Manager did not mean $RD10,000 per atm transaction?

That may be what was meant AG. Every ATM card holder has a daily limit placed on them by their OWN bank. If your home bank says you can withdraw up to $1,500/US a day, you should be able to do that in DR - with several transactions. Last trip we needed additional cash to finish a wall we were building, and we stood at the BHD ATM machine outside La Sirena in San Cristobal taking out 15,000DOP at a time. We did 3 transactions back-to-back with no trouble.

AE
 

MikeFisher

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Feb 28, 2006
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the usual ATM Limit is 10K per Transaction, up to the daily limit of your Card of course(set by your cardprovider at home).
I took 20K(2x10K) last week Tuesday at a banco Popular ATM, got charged 2x112 Pesos of that extra Fee for the first Time.
will try a ATM at Banco de Reservas next Time to see if they are really still free of that extra charge.
on 10K transactions that's an additional 1.12% Fee, not good.
at least the exchange rate is always great, got 51.78 Pesos per Euro.

Mike
 

fjw

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Oct 11, 2010
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is there any dificult









Is there any difficuly in keep Larger amounts of USD in local banks I would like transfer a year worth of living expenses and keep it in USD.
 

MikeFisher

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Feb 28, 2006
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no, there'sno problem to have a amount of savings on a Dominican's Bank US$ account. just keep in mind to wire not more than 10KUS$ at a Time.
that way you can always withdraw Your needed Money in US$ Funds and convert the needed amount into Pesos at the Place with the best exchange rates.

Mike
 

Deyvi

*** I love DR1 ***
Dec 23, 2009
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So far I can confirm that Banco Popular and Scotia Bank are now charging fees at their ATMs to withdraw funds from off island accounts. Not sure yet about BanReservas, Progresso or Santa Cruz.

I'm not paying any fees at Scotia with the Bank of America debit card.
 

MikeFisher

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I'm not paying any fees at Scotia with the Bank of America debit card.

when was the last time you withdraw money that way?,
I ask b/c that Policy changed lately, not long ago.
last week wednesday I've been charged the Fee at a Banco Popular ATM for the 1st Time, that ATM I use quiet often, around 2-3 weeks prior I did not get charged the Fee at the same ATM, it is a new thingy.
sorrily I would await that within a short Time Period all banks will charge the Fee at their ATM's.
cheers
Mike
 

AndyGriffith

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Mar 11, 2010
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when was the last time you withdraw money that way?,
I ask b/c that Policy changed lately, not long ago.
last week wednesday I've been charged the Fee at a Banco Popular ATM for the 1st Time, that ATM I use quiet often, around 2-3 weeks prior I did not get charged the Fee at the same ATM, it is a new thingy.
sorrily I would await that within a short Time Period all banks will charge the Fee at their ATM's.
cheers
Mike


Mike-I think you are right in assuming that all banks will start charging the fee. This is what happened in the U.S. over time also. Some people don't have bank accounts or choose not to have them to send money, so the only way will to be carrying some cash with you and/or using the remittance services.
 

Malibook

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Jan 23, 2002
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when was the last time you withdraw money that way?,
I ask b/c that Policy changed lately, not long ago.
Bank of America and Scotiabank are members of the Global ATM Alliance and their customers can use the other's ATM without service charges.


Global ATM Alliance

Scotiabank is proud to be a founding member of the Global ATM Alliance, along with Bank of America, BNP Paribas, Barclays, Deutsche Bank 24 and Westpac.
18525.gif
838.gif
When traveling abroad, you can withdraw cash or take a cash advance from your pre-selected deposit
20200.gif
accounts? or VISA* card at over one million ATMs displaying the VISA or PLUS symbols worldwide.
Our ABMS with the CIRRUS logo can be used by customers of other financial institutions to access their accounts while travelling in Canada.
Look for ATMs that belong to the member banks <nobr>[PDF: 668KB]</nobr> of the Global ATM Alliance and avoid paying surcharges or international access fees on your account from over 35,000 cash machines in over 40 countries, including Australia, France, Germany, United Kingdom or USA.


Scotiabank will waive the International ABM Access Fee and Global ATM Alliance members will waive any terminal convenience or usage fees for any withdrawal transactions performed at Global ATM Alliance machines with your ScotiaCard or Scotiabank VISA.
"Free Access" does not apply to Scotiabank ABMs in Puerto Rico, Costa Rica, El Salvador, Panama or Belize. For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Effective from April 5, 2004, the exchange rate includes an amount equal to 2.5% of the converted amount. All regular account fees continue to apply.
3 Caribbean countries include: Anguilla, Antigua & Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Netherlands Antilles (St Maarten), St Kitts-Nevis, St. Lucia, St. Vincent & The Grenadines, Trinidad & Tobago, Turks & Caicos Islands, US Virgin Islands.
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
13,766
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www.mikefisher.fun
Bank of America and Scotiabank are members of the Global ATM Alliance and their customers can use the other's ATM without service charges.


Global ATM Alliance

Scotiabank is proud to be a founding member of the Global ATM Alliance, along with Bank of America, BNP Paribas, Barclays, Deutsche Bank 24 and Westpac.
18525.gif
838.gif
When traveling abroad, you can withdraw cash or take a cash advance from your pre-selected deposit
20200.gif
accounts? or VISA* card at over one million ATMs displaying the VISA or PLUS symbols worldwide.
Our ABMS with the CIRRUS logo can be used by customers of other financial institutions to access their accounts while travelling in Canada.
Look for ATMs that belong to the member banks <NOBR>[PDF: 668KB]</NOBR> of the Global ATM Alliance and avoid paying surcharges or international access fees on your account from over 35,000 cash machines in over 40 countries, including Australia, France, Germany, United Kingdom or USA.


Scotiabank will waive the International ABM Access Fee and Global ATM Alliance members will waive any terminal convenience or usage fees for any withdrawal transactions performed at Global ATM Alliance machines with your ScotiaCard or Scotiabank VISA.
"Free Access" does not apply to Scotiabank ABMs in Puerto Rico, Costa Rica, El Salvador, Panama or Belize. For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Effective from April 5, 2004, the exchange rate includes an amount equal to 2.5% of the converted amount. All regular account fees continue to apply.
3 Caribbean countries include: Anguilla, Antigua & Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Netherlands Antilles (St Maarten), St Kitts-Nevis, St. Lucia, St. Vincent & The Grenadines, Trinidad & Tobago, Turks & Caicos Islands, US Virgin Islands.


Yeah,
but that's an Update from April 2004, isn't it?
I did never pay any extra Fee at any ATM on the Island til 2nd last Tuesday.
that's why I asked when He/She withdraw money from the Scotia Bank ATM in the DR free of extra charge the last Time, because it is something New here, October 2010 Update please.
thanks
Mike
 

Deyvi

*** I love DR1 ***
Dec 23, 2009
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We withdrew monies weds. and thurs. ---no fees. Again this is the relationship between bofa and Scotia. If you have a Schwab bank debit card there are no ATM fees worldwide.