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Thread: Currency rate to use for USD check to pay for services?

  1. #1
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    Default Currency rate to use for USD check to pay for services?

    Banco Popular has two rates:
    COMPRA - 37.75
    VENTA - 38.10

    I will be writing a check (in USD) for a service that I will be purchasing. The company is charging me in pesos for the service. So I need to convert the DOP amount in USD, and then write the check for that USD amount.

    Which currency should I use?

    Thanks.

  2. #2
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    Venta - 38.10

  3. #3
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    Find somebody that will cash your check. I cashed a check this morning at 38 to 1.

    HB

    Moderator DR1.com

  4. #4
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    Sorry scratch my above post, it should be the Compra price but that is currently 38 from what I just read.

  5. #5
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    Remember that they are charging me in pesos. So I need to convert that amount in dollars and then write a check to pay for the services.

    What would be cheaper for me:

    1) do what Hillbilly suggested? Who would do this in Santiago?
    2) Or use the rate of Banco Popular (at 37.70) or any other bank, convert from pesos to dollars, and write the check in USD?

    Thanks.

  6. #6
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    Quote Originally Posted by vmhatup View Post
    Remember that they are charging me in pesos. So I need to convert that amount in dollars and then write a check to pay for the services.

    What would be cheaper for me:

    1) do what Hillbilly suggested? Who would do this in Santiago?
    2) Or use the rate of Banco Popular (at 37.70) or any other bank, convert from pesos to dollars, and write the check in USD?

    Thanks.
    You can go to any cambio and ask the rate.... when you hear 38 (they usually use the calculaator to show you)... you're in business.

    Calculate how much US $$ you need .... give the cambio the check and take the pesos to pay your bill.

    Whenever I pay by check (in DRP), they always come back the next day to ask for more pesos.... to cover the amount the cambio charged to cash my check !!!

    I pay the fee at either end........ so I pay in cash when possible

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  8. #7
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    Default Casa de cambio!

    REmember,you can't just walk into a bank and cash a check.IT will have to clear in the USA before they pay you,THAT can take weeks. Those of us who live here have a relationship at the exchange house of our choice. I have been using the same place since 1986. he will cash my personal check,in US dollars,on my US accounts for up to $100,000 dollars. No Fee!

    CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

    I"used" to take people I met here to introduce to the owner,not anymore! Too many wrote too many,,"bad paper"!
    Guess they didn't realize they couldn't get "Home Free" just because they left the DR!

  9. #8
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    No Fee !!!!

    I don't get it !

    'Splain it to me Lucy...

    WWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW

  10. #9
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    I say cash the check and get it in USD and then go to one of those exchange money places and change the dollars to pesos because the bank will give you the lesser exchange rate which is 37.75.

  11. #10
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    "NO FEE" as in,if I write a check for $1,000 US,he will give me 1,000 "greenbacks"!or,he will give me pesos.

    CC

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