Money Questions

CanadianGurl

New member
Mar 21, 2006
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Ok,

I am on my last days of preparing to come to Santo Domingo for the summer to work. I am still confused about the whole money decision.

Few questions:

Can I ...should I use my credit card?

Which is better travellers cheques or a Scotiabank account?

I will need a safety deposit box when I arrive, should I go to a Scotiabank to purchase this?


Thanks
Canadian Gurl
 
Mar 21, 2002
856
2
0
Is this your first time in the DR? If it is, good luck. You are on the adventure of a lifetime. Of course you should use your credit cards. I do. Just keep track of your transactions online as you do back home in the frigid Canadian icelands.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
CanadianGurl said:
Can I ...should I use my credit card?

Which is better travellers cheques or a Scotiabank account?

I will need a safety deposit box when I arrive, should I go to a Scotiabank to purchase this?

You can use the bank card of Scotiabank all over the country in ATMs. Also, if you are going to be here for awhile, you can easily make an arrangement with a Banco de Cambio to take your personal checks on the account in your home bank.

Safety deposit banks are very hard to get; most banks have theirs already filled. Try, but don't be surprised. You can buy a small safe and have it put into your house or apartment somewhere that it is not easily seen. Best if it is anchored in some way so that a thief can't put it under his arm and walk off.
 

CanadianGurl

New member
Mar 21, 2006
43
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0
Ok so is it necessary for me to get any traveller's cheques?

I have AMEX, Mastercard, and I am signing up for a Scotiabank account.

But i am really confused about exchanging money and paying for things.

For example:

1.)Before I arrive should I exchange money somewhere in Canada?

2.) I was planning to get some $100 traveller's cheques ,is this necessary, because I am nervous about having any money on me

3.) I will only need money for food and extras, my rent is paid and all other bills, if that helps to understand my situation.


This is my FIRST time to DR outside a resort area. I am officially getting a bit nervous ---stressed. I have arrangements made with INTEC for the summer, they have been excellent in helping me. I will be living in SD with two girls from France that I have never met. I will be do some teaching, coaching, spanish lessons,...I am a competitive runner in Canada, so my biggest issue I guess in personal survival, is my ability to train 2-3 hours a day in the heat, and a safe area to do so. I am hoping the Olympic center, will become a favorite past time.

I am also use to having a car here, so the idea of public transit is a bit overwhelming, but that is partial my reason to take this adventure...not to go on DR public transit, but to step outside my fears, to explore areas.

So..if anyone in the next 12 days can think of ANYTHING i might want to bring along on this journey, please let me know.

DR1 has been my daily read for the past 3 months, and like the rest of the newbies to the DR, its been my best motivation and information.

Thank You
Canadian Gurl
 
G

gary short

Guest
Go heavy on the travellers cheques, American denomination 50 and 100s. Don't count on being able to get a safety deposit box or a Scotia account. If you get a safety deposit box you won't be able to stow cash in it. Arrive with a bit of US cash and if you're able 2000ish in pesos. Don't bring Canadian funds.
The jock stuff advice will have to come from another member.

Chill........no worries.......good luck.
 

Charlielyn

Bronze
Jul 31, 2005
1,045
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Bring Canadian travellers cheques and cash them at Scotia Bank for a really good rate. I got 28 pesos to ther CDN dollat this way. Your ATM card will work every where here and the rate I got on that was 29 pesos to the dollar but they take $3 cdn for every transaction. Visa gave the rate at 29 pesos too. But how will you pay yor visa bill from the DR? Do not exchange your money in Canada for pesos - the rate of exchange would be terrible. Go to an ATM as soon as you get here - easier.
 

Tamborista

hasta la tambora
Apr 4, 2005
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I pay all my bills online from the DR when I am in country for an extended stay. Why is this difficult Charlielyn?
 
G

gary short

Guest
I advize that you do not bring Can funds either in cash or cheques period. And if you can bring a small amount of pesos to get you through the first day it may help. Out.
 

Lambada

Gold
Mar 4, 2004
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www.ginniebedggood.com
CanadianGurl said:
So..if anyone in the next 12 days can think of ANYTHING i might want to bring along on this journey, please let me know. Thank You
Canadian Gurl

Wax ear plugs. Seriously. It may be more noisy here than you are used to. And your roomates may have noisy company. Or they could snore........;)
Difficult to train without a sound night's sleep. Other than that you'll probably love nine tenths of your time here. Have fun. Keep an open mind. It isn't always what it looks like.