ATM Exchange Rate...

Snuffy

Bronze
May 3, 2002
1,462
6
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I take money from Banco Popular ATM machines as I need it....5000 pesos at a time. My bank is in the USA. Last week when the peso was doing 40 to 1 I made several withdrawals. I was surprised later to find that the money was exchanged to me at only 36 to 1. I check this in my account via the internet.

I do not understand how to correctly investigate this matter. I was wondering if anyone could lend me some insight into how these ATM exchanges work.

Thanks.
 

DRdiving

New member
Nov 2, 2003
57
0
0
Basically you are at the mercy of the rate "they" quote that day. It's the same with credit cards. Where there is exchange involved, expect them to rape you. As a rule of thumb, when you are not actually involved in the negotiation or cognizant of the exchange rate, you will get a lousy deal.
 

skippys

New member
Jan 17, 2003
165
0
0
ATM card usage

I have 3 Bank of America ATM cards. All three work in the States & Puerto Rico. In the DR, ONLY ONE works.
Any insight?
or advice?
and NO to your question re: DOLLARS out.
 

Juan_Lopez

New member
Oct 21, 2003
74
0
0
BOA uses the plus system. ATH is preferred here, cirrus and maestro are good to. Try to use your cards at casinos, but again it is hit and miss as some machines will say plus but not actually use it.
 

XanaduRanch

*** Sin Bin ***
Sep 15, 2002
2,493
0
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The owner of the teller doesn't determine the exchange rate you'll get. That's up to your home bank. Sorry, I actually laughed when I read that Banco Popular de Nueva York shaved 4 pesos off the going rate. Even in New York they can't help but be Dominicans! How funny!

All of my credit card and bank ATM cards from U.S. sources are always about dead-on even in the exhange rate they give on a day-to-day basis. Yesterday from my bank ATM/MCDEBIT card I got un-chin-chin under 40:1, something like 39.98, in Sosua at a Progresso terminal.

Tom (aka XR)