Banking

captboink

New member
Mar 3, 2011
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Quick question, can I withdraw money from a local bank here from my Bank in the States. Are there any fees they charge?

Thank You

Gary...er Captboink
 

Tamborista

hasta la tambora
Apr 4, 2005
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Quick question, can I withdraw money from a local bank here from my Bank in the States. Are there any fees they charge?

Thank You

Gary...er Captboink

Most US banks will Bonk you for a $5USD International ATM fee PLUS 3% currency exchange fee. The local bank may or may not Bonk you RD100, depending on the bank.

Bank of America does not charge to use Scotia Bank ATM's, and the rate is pretty close to the street after exchange fees.
 

captboink

New member
Mar 3, 2011
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A little more info

I bank with Wells Fargo in the States
I want to do this with the local Banco Popular in Boca Chica( I do not have an account with them here)
Would the Banresevas Bank here be any better?

Thanks again

Gary...er Captboink
 

belmont

Bronze
Oct 9, 2009
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A little more info

I bank with Wells Fargo in the States
I want to do this with the local Banco Popular in Boca Chica( I do not have an account with them here)
Would the Banresevas Bank here be any better?

Thanks again

Gary...er Captboink
These are the Wells Fargo Charges. Both Banco Popular and Banreserva have an ATM use charge in addition. I opened an account with Bank of America at home and withdraw at Scotia Bank in the DR without charges as Tamborista said.
•Wells Fargo will assess a $5 fee for ATM cash withdrawals made outside the United States and an International Purchase Transaction fee which is a 3% of the transaction amount fee for each purchase made with your Debit Card in a foreign currency that has been converted into a U.S. dollar amount by a network.
 

captboink

New member
Mar 3, 2011
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Let me clarify---I cannot use my ATM cards, I need to go into a bank.

Gary...er Captboink
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
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Let me clarify---I cannot use my ATM cards, I need to go into a bank.

Gary...er Captboink

Your ATM cards will work in any bank's machine + charges. You should notify them you are in DR on their 800 number, or they may shut you down for fraud prevention.
 

belmont

Bronze
Oct 9, 2009
1,536
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Let me clarify---I cannot use my ATM cards, I need to go into a bank.

Gary...er Captboink
If you have a card with Visa or Mastercard logo which allow cash advances you can get cash from the teller. Each card has it's own fee schedule , but again, most charge a transaction fee plus a percentage of the cash advance. Some Amex cards also allow cash advances. You are not going to be able to go into a bank and make a straight withdrawal from a US account.
 

captboink

New member
Mar 3, 2011
91
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If you have a card with Visa or Mastercard logo which allow cash advances you can get cash from the teller. Each card has it's own fee schedule , but again, most charge a transaction fee plus a percentage of the cash advance. Some Amex cards also allow cash advances. You are not going to be able to go into a bank and make a straight withdrawal from a US account.

Ok thank you so much

Gary...er Captboink
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
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Der,

Aren't the "wire" charges from both sending/receiving bank a bit excessive, unless you wire a few "G's" @ a time?

t'
 

delltdware

New member
Feb 5, 2012
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somebody,

what is the best way of bringing money in and keeping it safe. I am coming next year for a year, but really don't know what I should do with money.....leave here in bank and withdraw in DR as I need or bring a certain amoutn with me. cash or travelers check? do you recommend paying for rent 6 months at a month time or month to month?

delltdwre