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  1. #1
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    Question where to put our dollars???

    If we can't trust the banks in this country, what can we do with our dollars???
    What is the cheapest way to send money to Europe if I have an account there for example (bank transfer, Pay Pal, or money transfer)? Is there a secure place for money in this country?

  2. #2
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    Default Secure place

    Rent a Secure box at the Bank and put your dollars there its only about 3000 RD$ a year. I took all my US$ out of my accounts and put them in the box.

  3. #3
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    So you're sure the dollars are safe there? To which bank should I go? Do you need to be resident to do that?

  4. #4
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    No do don't need to be a resident. yes i think it is safe there. Just make sure they leave you alone when you open the box. They will give you a pair of keys. The box only opens with your key and their key together. So they cannot open it when you are not there.

  5. #5
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    Mr. Strong,

    I know you have already answered this question, but I just want to make sure.

    So,there is no way possible for anyone from the bank to open your safety deposit box if you are not there.
    I just want to make sure because if I come to the DR and put my money in a deposit box, and one day I arrive at the deposit box to find it empty; i don't know what I would do!

    Any response would be appreciated.

    Michelle

  6. #6
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    michelle, is there some reason why it is necessary for you to have money in the DR? Most of the expats that live here are withdrawing the money they have in the banks for fear that the government is going to temporarily freeze foreign currency. To get money to live on, we write personal checks and "cash" them at a banco de cambio or use the ATM machines.

  7. #7
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    Ken,

    Thanks for your reply, I think that's a better option. Sounds to me like it's alot safer. I think I'll leave my money in Canada and just use the atm machines.

    Thanks for the info.

    Michelle

  8. #8
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    Michelle,

    I change Checks drawn on a US bank at the cambios all the time without a problem at the better rate than you would get at an atm. Only turkeys give up the percentage to the atms.

  9. #9
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    Thanks Escott sounds as if cashing checks is a good option for saving a bit of money instead of using ATM's.

    Regards, Michelle

  10. #10
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    Default Cashing personal checks on your "Hometown" bank is the ONLY way to go!!

    I have introduced many many,trustworthy,friends to that system here in Santo Domingo! Once you establish a relationship with a Casa de Cambio,or financero,your worries are over!!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

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