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  1. #1
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    Default Using an ATM Card in DR

    If I use an ATM card in DR, will I get ripped off in the conversion?

    How does this work?

  2. #2
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    Ah, it is not only the foreign exchange rate. I don't know where your bank is, but in the case of most of US banks which are in the Visa network, Visa will charge you a foreign exchange fee of around 2%, plus ATMs here are charging a hefty RD$160-189 per withdrawal. Still, better pay those fees than carry a lot of cash on you. Use an ATM at a bank only and preferably one that lets you swipe your card and returns it.

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  4. #3
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    Banco Popular charges a low service fee compared to some others.

    And I second it being better to make multiple transactions as opposed to having a lot of money getting lost/stolen.

  5. #4
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    I reccomend two things:
    1. Use and ATM that is physically attached to a bank here during banking hours. So if a problem maybe it can be fixed right then.
    2. Notify your home bank of your travel plans. If not they will put a hold on your card with the first use fearing fraud.

    Bob K

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  7. #5
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    And be sure to check the expiration date on your ATM card. We arrived Feb 12th for a several month stay, and soon found out the card expired on Feb 28th.

    Administrator
    DR1.com

  8. #6
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    I personally Bank with Popular and Asociacion Cibao but have used my Visa at pretty much every named bank with an ATM on the inside of the building. By far I received the best exchange rates and ATM fee with Asociacion Cibao.
    The rest charged an arm and a leg...................

    B in Santiago

  9. #7
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    I've all but given up on using my UK ATM card in the DR. I use it once a month - if that - in the same ATM machine, the same amount, and it always gets blocked. I have to phone them to unblock it, I make my withdrawal and then the following month - rinse and repeat.

  10. #8
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    Quote Originally Posted by Derfish View Post
    I used my USA Visa card at La Sirena to buy groceries as I always do. Der Fish
    I would never use a USA card of ANY type in this country..................
    Too many horror stories..........
    Have a Banco Popular Visa credit for 3 years and not one problem..............

    B in Santiago

  11. #9
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    yes, the fees are high. As far as having your account drained its possible. Happened twice to me in six years. Its no big deal you just tell the bank and they make it good. At least US banks. One time it was at Banco Popular and it was an inside job with a bank employee. Other time was an outside atm. Just watch your balance so if it happens you tell the bank quickly.

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  13. #10
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    I would only use plastic in a bank to get a cash advance. Then spend the cash.
    I do not like to advertise my financial abilities or lack there of.

    DS

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