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  1. #1
    Regular
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    Jan 2002
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    Default Dominican cash watch out

    Was advised by bank pop that today was the last day
    they were accepting marked or ripped bills.
    They said that the banca reservas still would accept them until the end of the month.
    Expats and tourist better watch out.

    What happens to the 100 peso note with markings after that date is any ones guess.
    I think its a total loss.

    Be extra carefull getting change in dark places.

    Double check the bills you get from the money changers.

    It is going to be real tedious getting change.

  2. #2
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    Default

    Yes, it is a total loss. As you may remember, Paul, this was well advertised some months ago, then the deadline for taking effect was moved ahead. But it appears it is now here, just when some of the previously new money is stating to show signs of wear.

  3. #3
    Bronze
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    Feb 2002
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    Default

    Hold on now.

    What's the reasoning behind this "initiative"?

    There is litter everywhere; in the city, in the country and in the rivers, and even in the administration. Yet the cash needs to be purified?

    I understand that the biggest business in the DR is money laundering, but I think this is taking it at least one step too far.

    So tell me, if I go to the ATM tomorrow and pull out a $500 note - with Criss Colon's shopping list on it - I then have to go to the Banca Reservas to get a refund on my ....... money??

    Do they subtract the estimated value of the items on the shopping list? That could be expensive!

    What's the reasoning behind this? I missed the news flash. I must have been reading one of golo's diatribes about showering with bottled water... or something.

    Seriously?

  4. #4
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    Jan 2002
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    Default

    Cleef, heretofore the bills circulated in the DR were in very, very bad condition. The Central Bank has gone through a multi-year process of removing all these old bills from circulation and replacing them with brand new ones. The deadline was supposed to have been some months ago, but it was extended. Now, it seems, it is coming to an end.

    You shouldn't have any trouble with bills coming from ATM machines because banks are supposed to be removing from circulation all damaged bills. You are more at risk when you get change or when you are paid by someone for some goods or services, etc. Refuse bills that are damaged in any way, including having any, repeat any writing on them. Before you put any bills in your pocket or purse, look them over very carefully on both sides. If it looks questionable in any way, ask for another.

    Anticipate that anyone who has a bill refused by a supermarket, for example, is going to look for some innocent to pass it on to.

  5. #5
    Platinum
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    Jan 2002
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    Default Shame on me!!!!!

    Last time I got a "Phoney" 1000 peso note,I went to a "Casa de Cita" with a friend and he "passed" it with "No Problema"!CRIS........"Anybody seen my grocery list"?

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