Converting $$$

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lliljestrom

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Jan 11, 2006
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Can I use U.S. dollars in the Dominican or do I need to convert to pesos? If I do need to convert, should I do it here in the U.S. or wait until we get there. Will our ATM cards work there? I'm a first time traveler out of the U.S. so any advice, recommendations are appreciated.
Thanks !!!
 
Hillbilly

Hillbilly

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Jan 1, 2002
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In the Dominican what?????????????

"Dominican" is an adjective and cannot stand alone. Unfortunately, the founding fathers did not realize that the world would produce such connectivity and they named the place the Dominican Republic to distinguish it from the Venezuelan Republic or the Colombian Republic of the times.
GRAMMAR POLICE: Out!

to answer your question: You can exchange you money here in the DR very easily at any one of the many "Casa de Cambio" that pop up like mushrooms.
You can do it at any of the commercial banks, too, but you will get a slighly less favorable rate.

If you do not want to bring a lot of cash, bring your plastic, but not your debit card, your credit card...Stick it in any of the hundreds of ATMs around and voilá: money.....

Have a wonderful time in your first of many visits to the Dominican Republic.


HB :D:D
 
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nickijay

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Jul 14, 2006
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lliljestrom said:
Can I use U.S. dollars in the Dominican or do I need to convert to pesos? If I do need to convert, should I do it here in the U.S. or wait until we get there. Will our ATM cards work there? I'm a first time traveler out of the U.S. so any advice, recommendations are appreciated.
Thanks !!!
Click to expand...

Yes you can use american dollars they are widely accepted but you'll get your change in pesos and it may not be right!! I take $$ with me and change them as and when i need them. Dont change them in the hotel you'll get a bad rate as Hillbilly said your best bet is in one of the many Casa de Cambio.
I did use my debit card out there without any problems but with the stories that i have heard i think i was lucky, so you'd probably be best with your credit cards where you're insured.
Enjoy and make sure you get out of the resort its a beautiful place to be.
 
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rendul

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Feb 24, 2002
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I don't think credit cards are the way to go either. There have been problems with additional charges being put on the account. Unless you use your credit card to make an in-person withdrawal in a bank, don't use it for direct purchases. If you use the ATM's be sure to keep your copies of the transactions should there be any discrepency later on.
 
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bigbird

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May 1, 2005
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Hillbilly said:
If you do not want to bring a lot of cash, bring your plastic, but not your debit card, your credit card...Stick it in any of the hundreds of ATMs around and voil?: money.....
Click to expand...

Why not a debit card? I use PayPal debit card with a flat rate of $1 USD per transaction. I have never had a problem (yet).
 
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pma22222

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Jun 27, 2006
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bigbird said:
Why not a debit card? I use PayPal debit card with a flat rate of $1 USD per transaction. I have never had a problem (yet).
Click to expand...
I have used visa check card there and throughout south america, never a problem. Only place I could not use it was in Haiti. Couldn't find a darn ATM anywhere.
 
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HOWMAR

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Jan 28, 2004
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The problem with debit/check cards is that you don't have the same protection as credit cards. For a US issued credit card, the most you are responsible for unauthorized charges can be $50. This does not apply to debit cards, although many banks do offer this protection, but not mandated by regulation. With a debit card, your entire balance can be wiped out and the onus can be on you to prove that fraudulant transactions occured.
 
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skyblue

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Mar 20, 2006
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HOWMAR said:
The problem with debit/check cards is that you don't have the same protection as credit cards. For a US issued credit card, the most you are responsible for unauthorized charges can be $50. This does not apply to debit cards, although many banks do offer this protection, but not mandated by regulation. With a debit card, your entire balance can be wiped out and the onus can be on you to prove that fraudulant transactions occured.
Click to expand...

yep, unlike w/ credit cards, if you use a debit card your checking a/c balance goes away until you can prove the debit was not yours. scary!
 
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bigbird

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May 1, 2005
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HOWMAR said:
The problem with debit/check cards is that you don't have the same protection as credit cards. For a US issued credit card, the most you are responsible for unauthorized charges can be $50. This does not apply to debit cards, although many banks do offer this protection, but not mandated by regulation. With a debit card, your entire balance can be wiped out and the onus can be on you to prove that fraudulant transactions occured.
Click to expand...

The OP question was in reference to obtaining cash. My CC charges outrageous fees for a cash advance. I usually arrive with a 2 grand balance on my PayPal debit card for a 10 day trip. If need be I can transfer additional funds while in the DR. I use the debit card for cash and the CC for purchases. Seems to work fine for me.
 
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bigbird

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May 1, 2005
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PayPal Debit Card

For those who do not fully understand how PayPal debit card works.

http://www.paypal.com/cgi-bin/webscr?cmd=p/gen/ua/policy_debit-outside

PayPal is a stand alone debit card that is in no way directly connected with my checking account. I usually transfer what I think I will need before traveling. If you are skeptical of theft you can leave a $500 balance on the card and transfer money as needed (allow 4 days for transfer). Arrive at your travel city with a $500 balance and transfer another $500 that same day. This would work fine for anyone fearful of fraud. At $1 USD per transaction and a favorable exchange rate I don't think you can beat it.
 
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skyblue

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Mar 20, 2006
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bigbird said:
For those who do not fully understand how PayPal debit card works.

http://www.paypal.com/cgi-bin/webscr?cmd=p/gen/ua/policy_debit-outside

PayPal is a stand alone debit card that is in no way directly connected with my checking account. I usually transfer what I think I will need before traveling. If you are skeptical of theft you can leave a $500 balance on the card and transfer money as needed (allow 4 days for transfer). Arrive at your travel city with a $500 balance and transfer another $500 that same day. This would work fine for anyone fearful of fraud. At $1 USD per transaction and a favorable exchange rate I don't think you can beat it.
Click to expand...

question: i use paypal (and i love it), but whenever my papal balance is low and i pay something that exeeds my balance, the difference is automatically debited from my checking account (i have a credit card as a second back-up). would this also happen if, let say, you use your paypal debit card and a local merchant to purchase a $ 60 item. your balance is $500 on paypal debit card. the merchant "accidently" charges $600. will the $100 difference be debited from your checking account or will paypal carry the $100 debit until you get around to funding the a/c. thanks
 
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lliljestrom

New member
Jan 11, 2006
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Please accept my apologies for refering to the Dominican Republic as the Dominican. Gotta give a DR rookie one mistake :eek:)
Anyway, thanks for all the info. We look forward to our trip.
 
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bigbird

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May 1, 2005
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skyblue said:
question: i use paypal (and i love it), but whenever my papal balance is low and i pay something that exeeds my balance, the difference is automatically debited from my checking account (i have a credit card as a second back-up).
Click to expand...

I am by no means an expert on PayPal. I believe you signed up for the option of having the automatic transfer. I declined this option for just that reason. If I have a $238.40 balance on my account then that would be the most a merchant could rip me off for. I use my PayPal strictly for traveling and ebay purchases. When traveling the PayPal is used for cash withdrawls from ATMs only. So far it has worked great with up to the minute account balances!
 
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sweetdbt

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Sep 17, 2004
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I use a simple ATM card, issued by my credit union, which allows withdrawals from one savings account only. For safety, I deposit only the amount I think I'll need prior to leaving on vacation, but if I ever get in a pinch and need more I can transfer funds on-line from another account. It is on the PLUS network, and has worked in ATM machines all over the DR. Transaction charges are minimal.

US Dollars are only widely accepted in tourist areas. Elsewhere you will need to pay in pesos.
 
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shadInToronto

On Vacation....
Nov 16, 2003
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Traveler's cheques

lliljestrom said:
Can I use U.S. dollars in the Dominican or do I need to convert to pesos? If I do need to convert, should I do it here in the U.S. or wait until we get there. Will our ATM cards work there? I'm a first time traveler out of the U.S. so any advice, recommendations are appreciated.
Thanks !!!
Click to expand...
Excahnge at any bank or excahnge house, I found Rusa offered ~RD$1.00 - $1.50 more than Banco Popular a few times, but many times the same. You'll need your passport to exchange to Pesos.
 
D

dot

Member
Jun 19, 2005
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I have used ATM machines in Sousa and several times in Playa Dorada Mall over the years. I have a debit card from one bank expecially for vacation spending.... keep only the amount I figure we will need and a little extra just in case....

The fee is $3. per transaction and I always find that the rate of exchange is better than the cambio is offering even after including the transaction fee.

The only place I've never been able to use my ATM card was Cuba.
 
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