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Thread: Exchanging USD

  1. #1
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    Default Exchanging USD

    I had to get a temporary ATM card (Bank of America) because there was fraud on my account. Thank you Adobe for your great security and telling the world all my info and thanks to Experian for your wonderful fraud protection. Anyway, I digress. I'm visiting this coming Wednesday and I'm paranoid that I might have a problem with DR ATMs with a temporary card even though BofA sez I shouldn't.

    I called my hotel and they said they could probably exchange a substantial amount of money at 41 pesos to the dollar (today's rate), probably being the operative word. They also say I can go to a bank to exchange money. Is that true? Just bring in my passport and voila? If this is true, do most banks offer roughly the same exchange rate, the same or close to the one I see posted every day?

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    Quote Originally Posted by gas View Post
    I had to get a temporary ATM card (Bank of America) because there was fraud on my account. Thank you Adobe for your great security and telling the world all my info and thanks to Experian for your wonderful fraud protection. Anyway, I digress. I'm visiting this coming Wednesday and I'm paranoid that I might have a problem with DR ATMs with a temporary card even though BofA sez I shouldn't.

    I called my hotel and they said they could probably exchange a substantial amount of money at 41 pesos to the dollar (today's rate), probably being the operative word. They also say I can go to a bank to exchange money. Is that true? Just bring in my passport and voila? If this is true, do most banks offer roughly the same exchange rate, the same or close to the one I see posted every day?
    You can go to a bank with your passport and do that, but you can cut out the middle man and avoid headaches by bringing the USD and exchanging them for pesos at the going daily rate at an exchange house (Casa de cambio) without any problems or identification needed. If you are taking a cab, the driver will make a stop for you so that you can exchange your money.

  3. #3
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    I would bring some cash, few hundred, a thousand, whatever you're comfortable with. And also bring a couple of cards.

    You can get pesos in a bank with your Passport, and you can get pesos at an ATM with your debit card. It's best to use an ATM that doesn't suck in your card, just swipes it. Or use a Suck-in ATM in front of a bank that's open in case it eats your card. Then you can go in the bank and retrieve it.

    I could see where a bank teller might question a temp card with no name on it. You can also exchange your dollars for pesos on the street with the Money Guys if they're around. Ask their exchange rate ahead of time.

    I wouldn't quibble about a peso or two for exchange rate.

  4. #4
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    Caribe Express usually gives a good rate..... 42.35 these days.

    There is a running thread on exchange rates...

  5. #5
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    just do not exchange it on the street with the guys who offer you a better rate.. they are likely to short change you.. they are very good at it.

    and the hotel rate is low.. the rate is over 42.

    but true.. not to sweat a few pesos..

  6. #6
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    BofA cards work without any problem, use Scotiabank ATM and there is no charge. Rate abou 42,4.

    I had a temporary card myself once an it worked fine.

  7. #7
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    Just had the same thing with a B of A card. As others said Scotia and Caribe give best rates on exchange. FYI - B of A sent my replacement card to my attention at Sosua Business Services. No problem

    B OF A can wire you money to western union thru Visa - free of cost and you pick it up in pesos. Easy as pie for me.
    Skip the WU in Gaspar and at Janet's. Not the friendliest. POP, Sosua and the other in Cabarete are easier to deal with.

    My fraud was from the US. Apparently, I bought gift cards and womens shoes at Zappos! ( at least the crook had good taste).

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    Don't change money at an airport or a street guy, do change it at a Casa de Cambio as others have said.. CARIBE is good. Never try to get money out of an ATM unless it has an open bank 'behind' it... too many stories (particularly this close to Christmas) about cards being duplicated etc.

    As WW says - check out the exchange rate on here, he does a great job of updating us all daily. And 41 is a bit low, but there again it won't matter if you are just changing a small amount. I would suggest that you know exactly how much you want to change and multiply by 42 (nice round figure) that way you will know exactly how much you are getting in advance and count it again before leaving the counter.

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