American looking to withdraw from atm here n dr ! May be a few thousand

arrugala

Bronze
Nov 7, 2010
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Is there any bank that charges less than abt 50 us for a thousand withdrawal here in the DR? from a Atm . The money would be coming out of an american bank .thx
 

mountainannie

Platinum
Dec 11, 2003
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best to go into the bank with your Visa card and withdraw from the teller

cannot imagine that they can charge for that.

at least they never have in my experience

do not know if this is limited to Visa Credit.. should work for Debit cards
 

caribmike

Gold
Jul 9, 2009
6,808
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BPD charges 15 USD per 500 USD at the teller, I asked last Friday, besides what the CC company charges...
 

caribmike

Gold
Jul 9, 2009
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Oops, not sure if you are no client...

Well, I have an account at BPD, but my CC is not from them nor issued in DR so I think it should be possible...
 

sayanora

Silver
Feb 22, 2012
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best to go into the bank with your Visa card and withdraw from the teller

cannot imagine that they can charge for that.

at least they never have in my experience

do not know if this is limited to Visa Credit.. should work for Debit cards

DO NOT DO THIS.. it costs me about 165$ to withdraw 2000$ from a teller. With the atm it costs you 112 RD$ per 250$ and you get awesome rates, especially from BHD and scotiabank.. I got 40.4 yesterday. There also may be a fee from your home bank, mine charges 5$ per 250$ withdrawal.
 

CaptnGlenn

Silver
Mar 29, 2010
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credit card cash advances are one of the biggest gouges the banks have. Unless you have some kind of very special account, You pay enormous fees and interest rates, (which iirc begin immediately upon withdraw... not like a purchase where you have till your statement to pay with no interest.) I'm not sure if/how this was affected by the new banking laws.. but I would only withdraw from your funds in your account (debit). If you need more money than you have, better to just purchase with the credit card.
 

caribmike

Gold
Jul 9, 2009
6,808
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Is there a difference btwn withdrawing from a CC or Debit Card at the teller? I assume there is, or? Since the DC must have funds on it to withdraw... so that could explain the differences in the amount of fees charged and mentioned in this thread...
 

Tamborista

hasta la tambora
Apr 4, 2005
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Here is a little trick, use your ATM debit card, which has a VISA/MC logo on it at the teller, it will not be considered a cash advance.

If you have a B of A account in The USA, ScotiaBank will not charge you, nor will B of A.
The other "cost effective" method of withdrawal is PAYPAL, I think they charge $1 to withdraw up to your daily limit at an ATM or teller. as Cap mentioned, credit card advances will require extra lubrication!
 

caribmike

Gold
Jul 9, 2009
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"...ATM debit card, which has a VISA/MC logo..."

Yep, that's what I use and still they charge 3% at BPD....
 

Spicedwine

New member
Apr 25, 2006
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Here is a little trick, [COLOR="#F[COLOR="#FF8C00"][/COLOR]FFF00"]use your ATM debit card,[/COLOR] which has a VISA/MC logo on it [COLOR="#FFFF00"]at the teller[/COLOR], it will not be considered a cash advance.

If you have a B of A account in The USA, ScotiaBank will not charge you, nor will B of A.
The other "cost effective" method of withdrawal is PAYPAL, I think they charge $1 to withdraw up to your daily limit at an ATM or teller. as Cap mentioned, credit card advances will require extra lubrication!

Are you saying you can use an ATM debit card at a teller ?
 

Tamborista

hasta la tambora
Apr 4, 2005
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Are you saying you can use an ATM debit card at a teller ?

Yes, an ATM card may be used at the teller, I am not charged any fees by ScotiaBank with my B of A card. It is treated as a purchase not a cash advance.

There is a "built In" International currency conversion charge in there somewhere, but I have gotten very close to the proper rate, as MC/VISA gets the interbank rate which is high, so after the conversion from RD>USD in the account, it all comes out in the wash, maybe 1%, ( I am guessing), maybe .25 of a Peso.
 

Spicedwine

New member
Apr 25, 2006
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That's the difference - my Canadian Scotiabank ATM card does not have the Visa logo on it, but the B of A does.
 

BostonMary

New member
May 18, 2002
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If you're looking for US dollars to convert to pesos you can write a check. I write checks from a US account and receive pesos at a good rate. No fees!
 

yapask1

New member
Jul 23, 2012
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Open a dollar account. It costs free( banco popular ) or max $20 to transfer in from US DR end. US end e.g.tdameritrade can be free. Withdraw money in dollars leaving 500 in free! Take to exchange house offering best rate. DR bank can give you local bank card to wihdraw in pesos from US dollar account at their cash machine but may not get best rate.
Opening dollar account needs $500 in cash as initial deposit in dollars. To get this cash you may need to withdraw pesos using CC and convert to dollars. Banks vary as to credentials needed to open account. Progreso has been good.

If you do it this way perhaps 20 dollar charge for $2,000.

List of banks in the Dominican Republic - Wikipedia, the free encyclopedia

yapask1