Some last minute help please

dale7

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Apr 18, 2002
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First, I am going to say DR1 is the greatest, I would have been lost without the help I received here from my first two trips. Okay, I want to start a savings account when I leave in two days in the DR. I plan on depositing $1000-$1500US and will do so every trip(twice a year I am planning to take a trip here) keeping the rest in the US, in case of something happening to my money I want most of my capital in a US bank, and I have decided to go with CD's with that. Honestly, I am leaning towards Banco Popular since it has glowing recommendations from what I have researched. Is this a smart thing to do? I am not a financial genius but I am tired of my money sitting here in the US with less than 2%interest for my savings. I know this is small peanuts compared to many people that have accounts but I am trying to save money for a comfortable life here. Any suggestions for me, I assume I should keep my money invested as dollars.

What is the current exchange rate from US dollars to pesos? My first part of my trip will be in Santo Domingo and Boca Chica then I head up north towards Santiago. Any names of the best places to exchange money in Boca Chica or Santo Domingo. Usually I go to the Western Union office in Boca Chica on Duarte. I would really appreciate any feedback, critical and positive because Math/Finances are not my strong suit, can't be good at everything, lol. Can't wait until Tuesday when I will be there once again. Thank you all.
dale7(Howard):cool:
 
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judyisnice

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Oct 11, 2002
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HI HOWARD,
I don't know about the banking , but hope you have a nice time.
have you ever run into a guy in Boca Chica named Pat Hogen?? If you do know him please let me know, I'd like to see him again.
I'll be in pop on thursday and plan to do some travel for part of the two weeks I'm there.
JUDY
 

PJT

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Jan 8, 2002
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The current exchange is running about RD$ 24-25 to the US$. I recommend if you intend to place your money in a Dominican bank or any bank, be very wary of the terms and conditions for the account and get them in writing to review before you even open one up. Regards, PJT
 

Escott

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Jan 14, 2002
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1000 to 1500 dollars is not enough to open a cd. Start with bringing 5k down so you can get started. Savings accounts pay 4% last I checked and Cd's are more like 6-61/2 %

You can get way more in a finance house. Like double the ammount or more. The one I use is on the North Coast and have never seen any recommendations for anyone near the Capitol so can't help you there.

Regards
 

dale7

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Apr 18, 2002
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Thanks Jazz

I was talking about my money in the US, investing that in CD's and taking a limited amount $1500 for a new savings account in the DR. I think I am probably rushing something that I shouldn't do at the spur of the moment. I like the sounds of the financial houses, and I may get information when I am in Santiago area. Then I can plan according to what I should do. Geez, I hate sounding dumb and acting hastily, thanks for the input.
dale7
 

Robert

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Jan 2, 1999
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judyisnice said:
have you ever run into a guy in Boca Chica named Pat Hogen?? If you do know him please let me know, I'd like to see him again.
JUDY

Sadly Judy, Pat passed away about two years ago.

He truly was a wonderful character and missed by many people :(