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Thread: Bank Screwing

  1. #1
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    Default Bank Screwing

    My wife has a debit card and for over a year now every month she has been going to the local bank and pulling out $500 U.S. at a time. Well, the bank has now decided to limit the withdrawal to 9,000 pesos max and charge 250 pesos per withdrawal. Is this now standard practice?

    Hopefully she and my son will be out of there in a few months. Until then and for all that live in the DR the best you can often do is just bend over and say, "Thank you may I have another!"

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  3. #2
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    All banks are different. Banco Santa Cruz is now a max of 5000 pesos per transaction with a 120 peso charge. The max was 20000 up until a few months ago. Yes they like to bends us over.

  4. #3
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    Quote Originally Posted by slas7713 View Post
    My wife has a debit card and for over a year now every month she has been going to the local bank and pulling out $500 U.S. at a time. Well, the bank has now decided to limit the withdrawal to 9,000 pesos max and charge 250 pesos per withdrawal. Is this now standard practice?

    Hopefully she and my son will be out of there in a few months. Until then and for all that live in the DR the best you can often do is just bend over and say, "Thank you may I have another!"
    Many of us have established a relationship with a banco de cambio and write personal checks on our bank account in the US. We can write these checks for any amount and no fee is charged. You get your money in pesos, but it sure beats using debit cards.

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    Quote Originally Posted by Ken View Post
    Many of us have established a relationship with a banco de cambio and write personal checks on our bank account in the US. We can write these checks for any amount and no fee is charged. You get your money in pesos, but it sure beats using debit cards.
    But i presume the rate of exange is 2 or 3 % lower that the bank exange ?

  6. #5
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    Quote Originally Posted by Casino127 View Post
    But i presume the rate of exange is 2 or 3 % lower that the bank exange ?
    Actually, in many cases, the "tasa" from a casa de cambio is equal to/better than a bank.
    Regular customers & larger transactions will often command higher rates.

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  8. #6
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    Quote Originally Posted by Casino127 View Post
    But i presume the rate of exange is 2 or 3 % lower that the bank exange ?
    Just the opposite.........

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  10. #7
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    I was at the biggest cambio exange office in POP (don t remenber the name) not far from Beller, close to amber museum.
    I change traveller checks at a rate of 35.5 pesos a $. I usually change at Santa Cruz at 39 pesos. in Sosua.
    It was my first time in this office, they took my pass. photocopy. Fast transaction. I had no choice since i was in a rush.

  11. #8
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    Travelers Cheques....OHHHH!!!!
    Almost always command a discount, regardless of who changes them, useless pieces of paper in RD!
    Good luck replacing one if you lose one, AMEX will credit you, but will have to FEDEX you a new one.

  12. #9
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    Quote Originally Posted by Ken View Post
    Many of us have established a relationship with a banco de cambio and write personal checks on our bank account in the US. We can write these checks for any amount and no fee is charged. You get your money in pesos, but it sure beats using debit cards.
    I was doing this while I was living there but my wife is in a different town and the jefe of the local cambios wasn't too receptive to the idea, I did try though.

  13. #10
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    Quote Originally Posted by Tamborista View Post
    Travelers Cheques....OHHHH!!!!
    Almost always command a discount, regardless of who changes them, useless pieces of paper in RD!
    Good luck replacing one if you lose one, AMEX will credit you, but will have to FEDEX you a new one.
    I'm surprised they even took them...........bring cash....

    B in Santiago

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