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Thread: Accessing money in the Dominican Republic

  1. #1
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    Default Accessing money in the Dominican Republic

    How much cash can I withdraw on a daily basis with my American ATM?

    What is the limit and what are the fees?

    Thanks everyone.

  2. #2
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    Fee's has gone up just last Month. In pesos I think its now 140 for each transaction, but a bank like BHD was charging 200 pesos just a few Years ago, all are different. Also,your bank will also charge you unless they state otherwise for not using their ATM..Over all I pay a good 7 bucks US for every transaction..The max I can withdraw is 30,000 Pesos in increments of 10,000 being 3 transactions. And you need to find an ATM that allows 10,000 since quite a few will stop you at 4,000 pesos...No idea of your location, so I can't suggest a ATM location for you..

    However, you ca walk into any bank with proof of who you are and take what you want with whatever fee they may charge. I did that a few times when I first came here in 2007, was not much of a fee at all, just don't recall the amount so you know it was low or I would have remembered it for sure. If you can tell us your location it would help to direct you to a few ATMS in your area since many members here do the same..

    Anthony

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    Default Accessing money in the Dominican Republic

    Quote Originally Posted by skynet View Post
    Fee's has gone up just last Month. In pesos I think its now 140 for each transaction, but a bank like BHD was charging 200 pesos just a few Years ago, all are different. Also,your bank will also charge you unless they state otherwise for not using their ATM..Over all I pay a good 7 bucks US for every transaction..The max I can withdraw is 30,000 Pesos in increments of 10,000 being 3 transactions. And you need to find an ATM that allows 10,000 since quite a few will stop you at 4,000 pesos...No idea of your location, so I can't suggest a ATM location for you..

    However, you ca walk into any bank with proof of who you are and take what you want with whatever fee they may charge. I did that a few times when I first came here in 2007, was not much of a fee at all, just don't recall the amount so you know it was low or I would have remembered it for sure. If you can tell us your location it would help to direct you to a few ATMS in your area since many members here do the same..

    Anthony
    I am presently in Santo Domingo. I also need to know if I can take a cash advance with my credit card.

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    Okay, best bet is to hit the La Serina by Bravo, they have about 7 machines there and all of them are set for the max, 10,000 pesos per transaction. If your close to the National on Nunez, then use Scotia Bank, its in the same lot as National. Not sure about cash advances, perhaps check with any bank about this, but I have seen supermarkets ask if you want any money back when using a credit card, so perhaps a supermarket will do that for you, see what others have to say about this.

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    Depends on the limit of your us based bank, if your limit is usd1,000, it will be around 42500 pesos. Often in 10,000 pesos installments. The rare cases I use my Bank of America card to take out money I'm being charged 3% and no further costs (although not the best rate). (At Scotiabank). This used to be free though (only the lousy rate would apply). Since it's not free I'm wiring the money. A slightly better rate and 'just' a one time 45 (US side)+ 12 (DR side) dollar fee and an additional 300 pesos. Still way better than 3% if your complete income is deposited in the US.

    Cash advance is possible, as far as I know only inside the bank with a foreign card.

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    My US bank defaults to $300 max a day. But you can call your US bank and have them raise the limit.

    Western union is fast if someone will send you money. I think it is best to send dollars via western union and not pesos. Then change at western union.

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    Default Accessing money in dr

    Quote Originally Posted by texan View Post
    My US bank defaults to $300 max a day. But you can call your US bank and have them raise the limit.

    Western union is fast if someone will send you money. I think it is best to send dollars via western union and not pesos. Then change at western union.
    Is it easier to take a cash advance with my credit card?

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    I think it would cost more. But if possible you should be able to call your credit card company anytime and ask their fees. But I have not done that before.

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    the amount is driven by YOUR bank.... they set the daily limit and weekly maximum.

    i.e. mine (Cnd Bank) is $1,000/day up to $3,000/week
    I don't use a US bank for ATM's.

    Your bank will/may have 'no charge' relationships w/ an RD bank - ask about that from your US bank

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    And even if the Dr bank charges and there is no bank to bank relationship your bank may reimburse PNC bank does that.

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