American Debit Visa card... bank is DR will let me take out US $?

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kouliscon

New member
Nov 6, 2012
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Hello all

i have a question.

if i have a Visa Bank Of America Debit card with me in Punta Cana, can i go to a bank and ask them to take out from that Debit card US $ and not pesos?

thx in advance
 
bronzeallspice

bronzeallspice

Live everyday like it's your last
Mar 26, 2012
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I also have a visa Bank of America debit card,no way,you will only receive pesos.
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
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The answer is no, unless you have a local USD account.
Why would you need USD unless you are buying a house priced in USD?
 
K

kouliscon

New member
Nov 6, 2012
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Hello.

i need US $ cause i have to give deposit for a rental for a period and he wants US$.

So if i go to the cashier and give my card they will not provide me with US$?

thx
 
S

SKY

Gold
Apr 11, 2004
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I don't know if this would help as the rate is high. But I checked with our Cage Manager at the Hard Rock Casino in Bavaro and we take credit or debit cards for dollars. But the charge is 7% in addition to whatever your bank charges. Might be better to get pesos and change them for dollars though.
 
K

Ken

Platinum
Jan 1, 2002
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kouliscon said:
Hello.

i need US $ cause i have to give deposit for a rental for a period and he wants US$.

So if i go to the cashier and give my card they will not provide me with US$?

thx
Click to expand...

Assuming you are from the US, if he has a dollar account and will take your check on your account in your US bank, he can deposit the check in his dollar account.
 
S

SKY

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Apr 11, 2004
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Ken said:
Assuming you are from the US, if he has a dollar account and will take your check on your account in your US bank, he can deposit the check in his dollar account.
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This or a bank wire to his account is the best and certainly cheapest solution. The check is free, bank wire is about $45 US.
 
K

kouliscon

New member
Nov 6, 2012
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thx for all the info.

the thing is that he wants cash deposit, which will be returned to us upon exiting... that is why i said to take out cash from a card not to have them on me....
 
M

MJSantoDomingo

Bronze
Apr 13, 2011
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Send it to yourself by Western Union as US Dollars - pick up the US Dollars at a Western Union office.
It will cost you the WU transfer - but that will enable you to use your debit card and be able to pick up US Dollars.
Just an idea.
 
Z

zoomzx11

Gold
Jan 21, 2006
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The banks will never miss an opportunity to screw ya- one time on the exchange rate using the card from dollars to pesos and you get it again when you change back into dollars. They gonna love you. Bring your own lube. Gotta love those Dom banks.
 
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rubio_higuey

Gold
Feb 7, 2007
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Moneygram, WesternUnion or Xoom the money to yourself. Best to do it in advance and draw it form your checking account (takes about 5 business days) but that will be the cheapest option.
 
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mbgmike

New member
Jan 17, 2012
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rubio_higuey said:
Moneygram, WesternUnion or Xoom the money to yourself. Best to do it in advance and draw it form your checking account (takes about 5 business days) but that will be the cheapest option.
Click to expand...

i will not use either three. the fees are too high. Unless you are sending a large amount. IE) $250 to send WU is 8.00 fee in usa and a 87.00 fee on the DR side. Way too high. I send it over the phone from usa to bank in DR and then withdraw pesos and go to cheapest conversion house. Thats the cheapest way we have found. my wife is an accountant in Puerto Plata for a construction company.
 
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mbgmike

New member
Jan 17, 2012
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SKY said:
This or a bank wire to his account is the best and certainly cheapest solution. The check is free, bank wire is about $45 US.
Click to expand...
yes thats what we do. if you do them everyweek they will set you up to do from a phone.
 
M

MJSantoDomingo

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Apr 13, 2011
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I am set up with an online account with Western Union. It did not cost me anything to set up the online account. And the online transfer is the cheapest way to send money via Western Union. I am able to send myself $1000 Money In Minutes for only $20 (does not matter which country my computer is in, DR or US) - and $20 is less than a bank wire transfer fee and no waiting period, money is available immediately - so I have done that recently a couple of times. I always send it as US dollars and then exchange what I need as pesos into pesos after I receive the US dollars, because you get a better exchange rate that way. I also signed up for the Gold Card points, so at times I am able to reduce the fee even further. Last week I did this and it only cost me $8 to transfer myself $1000, because I had enough pints for a $12 fee reduction...
Just something for you to consider...
 
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