Rip off on exchange organised at POP airport

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Don Pedro

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Apr 2, 2005
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Globo Cambio changed at arrival Euros at 38.06 the same day was 42 at any bank and more at any Casa de cambio.
 

SKY

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Apr 11, 2004
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NEVER change money at any airport, you will always get robbed. If you must, go to Banreservas at the airport, They have a branch there.
 

Tamborista

hasta la tambora
Apr 4, 2005
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Globo Sucio!

Just avoid them!
Great tasa there, NOT....they offered me $29RD/USD when the actual rate was $33.40. Someone needs to shut these dirtbags down.

They are on the right as you enter the baggage claim area, on the wall opposite The Tourist Card booth if I recall.

tambo
 

tflea

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Jun 11, 2006
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Simple Retail

Just avoid them!
Great tasa there, NOT....they offered me $29RD/USD when the actual rate was $33.40. Someone needs to shut these dirtbags down.

They are on the right as you enter the baggage claim area, on the wall opposite The Tourist Card booth if I recall.

tambo


Well all I can say is that in the hypothetical exchange of 30 vs. 35 to the USD they would be making about 16.66% if my math is right. As consumers we easily pay that % over and above all the time. How about that Presidente you may buy for RD$60-$70 at a restaurant or bar when you get it at the supermarket for about $40.......the list is endless. I wouldn't change there either, but they're convenient, clean, modern retail facility doesn't make them dirtbags. What business doesn't take a profit? This one just happens to be currency.
 

Tamborista

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Apr 4, 2005
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The big difference Mr/Miss Flea is the consumer is aware of the markup of the price of beer in a bar. Most new touristas are not aware of being gouged on their first currency exchange since they are oh so conveniently located just as you enter the country outside of the tourist card booth.29 is only a 13% RIPOFF from 33.40, so I guess it's ok.

Do you own Globo Sucio?

tambo

PS :I trade Fx and only pay 3 PIPS to trade which is substantially less than 13%.
 

Don Pedro

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You are right tambourista. The point is : they trap tourists. Of course nobody on this forum will change at any airport just mention it to your friends coming for the first time.
 
A

apostropheman

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You are right tambourista. The point is : they trap tourists. Of course nobody on this forum will change at any airport just mention it to your friends coming for the first time.
when i flew into SDQ in early october i changed $500 USD at the airport. i had verified the current rate before i left, about 33.4 and received 33.5...and was very happy. there we 2 sets of cambios, one "pair near the checked luggage pickup and another closer to the exit after clearing migracion. 1 of the pair had a terrible rate, about 29.5 and a few feet away a different brand of cambio had a really good rate.
33.5 was the best rate i received in the 9 days i was there.

when i returned later in the month the "good" cambio of the pairs was closed leaving only the rip-off open. needless to say i didn't exchange funds then.
 

tflea

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Gouging

The big difference Mr/Miss Flea is the consumer is aware of the markup of the price of beer in a bar. Most new touristas are not aware of being gouged on their first currency exchange since they are oh so conveniently located just as you enter the country outside of the tourist card booth.29 is only a 13% RIPOFF from 33.40, so I guess it's ok.

Do you own Globo Sucio?

tambo

PS :I trade Fx and only pay 3 PIPS to trade which is substantially less than 13%.

If you think 13-15% profit is gouging then there is no point in commenting further with you. I WISH I owned Global Exchange. I believe your rant is totally unfounded. Nobody is forced to use any service they believe is not in their best interest.
 

planner

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Sep 23, 2002
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This is common in all kinds of airports all over the world! It doesn't just apply to exchange houses, it applies to restaurants, snack bars, stores etc at airports. It is very expensive real estate to rent, you have a captive audience etc.

This isn't going to change any time soon. What we can do is warn people to change your money elsewhere. Real simple!
 

cobraboy

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Jul 24, 2004
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I always keep 3-4,000 pesos with me when I leave, just to have some pocket $$$ when I arrive in the DR, avoiding the poor exchange rates near airports and tourist-specific places.
 

A.Hidalgo

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Apr 28, 2006
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If you think 13-15% profit is gouging then there is no point in commenting further with you. I WISH I owned Global Exchange. I believe your rant is totally unfounded. Nobody is forced to use any service they believe is not in their best interest.

Knowing what you know now, would you exchange at RD32 or RD35 for US$1.??
 

rellosk

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Mar 18, 2002
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This is common in all kinds of airports all over the world! It doesn't just apply to exchange houses, it applies to restaurants, snack bars, stores etc at airports. It is very expensive real estate to rent, you have a captive audience etc.

This isn't going to change any time soon. What we can do is warn people to change your money elsewhere. Real simple!
You are right. The airports in the US have always been a poor choice to change money.

When I first came to the DR I was amazed that the airport provided a competitive exchange rate.
 

Don Pedro

Member
Apr 2, 2005
262
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If you think 13-15% profit is gouging then there is no point in commenting further with you. I WISH I owned Global Exchange. I believe your rant is totally unfounded. Nobody is forced to use any service they believe is not in their best interest.
Gouging,
You do not want to understand. If a 30, 50 casas de cambio change the same days at X(more or less 1%) pesos for 1 $ they do not lost money they make bussiness.
If the same days Globo cambio changes at X+15% it is a rip off.
They take advantage tourist do not know the exchange. They do not do bussiness they rip off!
 

Tamborista

hasta la tambora
Apr 4, 2005
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Don Pedro:

You are barking up the wrong tree, Mister Flea seems to think this is an acceptable "business practice", and obviously has some sort of vested interest indirectly via AERODOM. How dare you speak up on an internet board, that is just preposterous ranting!

Just tell everybody you know traveling to RD to Avoid Global RIP OFF Cambio and go enjoy a cold one!

tambo
 

tflea

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Jun 11, 2006
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Well said

Well said Sr. Alan.
Who exchanges $ at an airport but tourists? I've done it myself in Istanbul or, god-knows-where, when lost and confused.
I'm not fostering cambistas at airports, but a 2-week vacationer
who pays a fee of 15% (+ or -) feels safe, secure and not too far out in space.
Whaddya gonna lose, $US10 bucks or something? You're on vacation, you don't care....ok, if you live here, you bitch and moan about a 0.10% dif from the guy down the street. So go. And yes, I own Global Exchange, Aerodom, all the airports in the DR, all the Duty Free, the landing rights, the tiendas and the bars and the bomberos and the trash pick-up, too. And so Tambo, you owe me 15% for responding to the post. I'll PM you with my bank account # in Switzerland.
No, make it Nigeria, since you're so anal about your margins on your FX.
 
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