Results 1 to 4 of 4
  1. #1
    Newbie
    Join Date
    Jan 2004
    Posts
    6
    Post Thanks / Like

    Default Cashing Travellers Cheques

    hi I'm staying in the DR for a while and most of my money is in travelers cheques. When i tried to cash 200US dollars into pesos at Scotiabank the clerk told me that travelers cheque are 40 pesos to 1 dollar but if i had cash i would get 50 pesos to a dollar.

    I am not an experienced traveler but that does not sound right. I thought in a bank US travelers cheques are just as good a cash. I am going to try another bank but can someone tell me if this is the case and what banks in the Santo Doimingo are best to try.

  2. #2
    Platinum
    Join Date
    Jan 2002
    Posts
    12,268
    Post Thanks / Like

    Default

    First time I have heard that. When my sister was here, she cashed travelers checks at Vimenca in Sosua and got the going rate. Try one of the large casas de cambio (exchange banks) and see what rate you get.

  3. #3
    Regular
    Join Date
    Dec 2002
    Posts
    481
    Post Thanks / Like

    Default

    I have cashed many TCs at Banco Popular and always got the going rate.

  4. #4
    Grande Pollo en Boca Chica
    Join Date
    Jan 2002
    Posts
    4,796
    Post Thanks / Like

    Default Re: Cashing Travellers Cheques

    Originally posted by JamesV

    I am not an experienced traveler but that does not sound right. I thought in a bank US travelers cheques are just as good a cash. I am going to try another bank but can someone tell me if this is the case and what banks in the Santo Doimingo are best to try.
    Use a cambio. I have never gone to a bank for pesos not due to this issue but due to the 800 people perpetually in lineups.

    Unless they are desperate for US$ cash , banks and moneychangers should prefer cheques as they are more secure and take up less room and usually cost less to deposit into their US$ account. So go somewhere else and a cambio is likely beter anyway.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •