A Question about "Opening up a bank account in the DR"

Potato_Salad

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Oct 13, 2005
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Hello fellow DR1 members! :classic:

I plan to open up a bank account in the DR.

Is it best if I bring the Dollars to the bank and have them exchange it into pesos? Or should I exchange the Dollars at the airport and bring those Pesos to the bank?

Thank you for your time and help.
 

HOWMAR

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Jan 28, 2004
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Potato_Salad said:
Hello fellow DR1 members! :classic:

I plan to open up a bank account in the DR.

Is it best if I bring the Dollars to the bank and have them exchange it into pesos? Or should I exchange the Dollars at the airport and bring those Pesos to the bank?

Thank you for your time and help.
Why don't you open a "dollar" account to protect youself against fluctuation of the peso? Change it to pesos as you need it.
 
Sep 19, 2005
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howmar....with that thought in mind..I ask this

when you make a withdraw from your "dollar" account...does the DR bank give you dollars...or convert them to pesos at the moment of withdraw?

My thought would be it best to recieve your withdraw in "dollars" for use as you want and where and possibly get a better rate someplace else


bob
 

HOWMAR

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Jan 28, 2004
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laurapasinifan said:
howmar....with that thought in mind..I ask this

when you make a withdraw from your "dollar" account...does the DR bank give you dollars...or convert them to pesos at the moment of withdraw?

My thought would be it best to recieve your withdraw in "dollars" for use as you want and where and possibly get a better rate someplace else

bob
They give you dollars. Never had a problem. Maybe if withdrawing large sum you may have to wait. But then again, try to get a large sum of cash out of an American bank branch.
 

El Tigre

El Tigre de DR1 - Moderator
Jan 23, 2003
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HOWMAR said:
They give you dollars. Never had a problem. Maybe if withdrawing large sum you may have to wait. But then again, try to get a large sum of cash out of an American bank branch.

I agree. You go to a bank here (USA) and it takes you forever to withdraw 5 grand. It's ridiculous.
 
Sep 19, 2005
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El Tigre said:
I agree. You go to a bank here (USA) and it takes you forever to withdraw 5 grand. It's ridiculous.


whats amazing is that they count it 5 times.. then walk over and run the 100's through the counter machine!!!!!!!! ...what a waste of time!!!

bob
 

Potato_Salad

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Oct 13, 2005
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HOWMAR said:
Why don't you open a "dollar" account to protect youself against fluctuation of the peso? Change it to pesos as you need it.


Thank you for your feedback. I greatly appreciate it! :classic:

Have a good day.
 

Potato_Salad

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Oct 13, 2005
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laurapasinifan said:
whats amazing is that they count it 5 times.. then walk over and run the 100's through the counter machine!!!!!!!! ...what a waste of time!!!

bob


EXACTLY!

Not only that, you have to show your I.D., debit card, and wait forever.

I live in New York City so it takes even longer.

Bank Teller: "One moment."

Me: "Okay."

Bank Teller: "We're almost finish. One moment please."

Me: "Okay." :ermm: