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Thread: Banking

  1. #1
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    Default Banking

    Is it better to open a bank account in USD or DOP ?

  2. #2
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    Dollars unless you want to watch your Peso buying power shrink.

  3. #3
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    Jazz is right, only keep a MINIMUM in RD $ at the moment - even in your wallet!! Change only what you need for a day or two & let devaluation work for you!! Tell you ALL about it next week when we meet & if you WANT to set up a bank account, I'll introduce to a couple that are fairly safe (well, safer than the rest!!).

    If you haven't already done so, check your e-mail & send answer re flight details - Dominican Babe might be on your flight too!! We should be organising a get together in PoP for later in your holiday - STAY TUNED!! You coming down soon Jazz???? Any other DR1'ers in the vicinity over the next 3 weeks & want to meet up?? PM me if you do & I'll try to organise something!! - Grahame.

  4. #4
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    Actually I'll offer an alternative opinion - I think you're better off with your local money in a bank account in pesos, because there's no risk anything will happen to it. It would have been difficult for me to withdraw my USD from there. But I would not keep much money there, thats for sure.

    I think you're better off with USD in a US bank, not a local bank. Also its good to charge things to a local credit card, you end up getting a nice discount as everything gets cheaper by the time comes to pay it off. :-)

    Adrian

  5. #5
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    Sorry to disagree Adrian - went to our bank last week & drew out US $9,000 NO PROBLEM!! In and out of the bank in 20 minutes!!! It DEPENDS on the bank of course & it helps to be known in the bank as a long term customer, BUT, .... having up to US $1,000 in the bank shouldn't cause any hassle at getting what you need out at any time. More than US $2,000 I wouldn't put with a bank anyway, too low a return - hence the drawing out of the US $9,000 which had just been transfered across from England!! - Grahame.

  6. #6
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    Grahame,

    I will probably be down in July after I move my dad. Closing on his condo on June 13th. Possibly the end of June but not sure. I hope to buy another piece of property and close on that June 2nd. Want to do some work on the property and will be down for a month to a month and a half.

    Keeping my fingers crossed that all goes well with the closing. Hate doing this crap long distance. After I close albeit long distance I will be seeking help on renovations from everyone.

    Regards,
    Escott

  7. #7
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    Have you already identified a property, and if so, where is it at?

  8. #8
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    Supposed to close June 2nd. I will post it after I close.

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