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  1. #1
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    Default ATM exchange rates

    Does anyone know which banks give a good exchange with an ATM card. We have a Bank of America card and were getting a fair rate and no charges at Scocia bank but now it $100 and change for 3000 pesos. Might be better off paying the fees at another bank which is more convienent. Thanks.

  2. #2
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    Banco Popular has a rate of about $33 pesos, I also have a Bank of America card and I always get the best rate at Popular but they charge a $5 USD fee for taking my money out plus a $3 USD fee front Bank of America.

  3. #3
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    I also do The Scotiabank/Bank of America ATH thing, I was getting 33.60 in the machine while Banco Santo Cruz was paying 33.85 to account holders.

    That includes any built in fees. That is not a bad rate, any other bank is gonna get you on both ends with fees! Make friends with a reputable cambista and cash a check.

    tambo'

  4. #4
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    Exchange rates are usually approximately same.

    Exchange rates are based on Visa International / Mastercard International exchange rate for the moment, plus bank fee of 1.5 -4 % added "to" the exchnage rate.

    For example, if the current exchnage rate is 33.9 and your bank's fee is 3%, the exchange rate you would be charged is 32.59


    Washington Mutual is a way to go. Free checking, no monthly fees, free ATM withdrawals worldwide, 1.5% conversion fee (the lowest among US banks).

  5. #5
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    The rate from Scotia used to be ok. I have a feeling that is is now poor due to the rate of exchange between the US and Canada. I'm sure not getting 33.

  6. #6
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    Quote Originally Posted by boca chica dave View Post
    The rate from Scotia used to be ok. I have a feeling that is is now poor due to the rate of exchange between the US and Canada. I'm sure not getting 33.
    I do not think there is any correlation between the USDCAD rate and RDUSD in the Scotiabank ATH in a B. of A. USD based account in the US!
    Last edited by Tamborista; 03-27-2008 at 10:28 AM.

  7. #7
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    Scotia does'nt operate in the US. Its the only reason I can think of for a poor rate. Approx. $10 for changing $100.? Probably just draw more at one time from another bank. The US economy is being felt in all kinds of ways.

  8. #8
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    Scotiabank DO has a reciprocal agreement with Bank Of America and neither charges a fee. You stated in your first post you had a B. of A. account. The fee is built in to the exchange rate and is charged by MC/Visa international.

    Who is charging you $10? If you used Scotiabank, you are entitled to a credit from B. of A.

    If the rate was way off the Street rate, challenge them and you will get a rebate. MC/Visa both use the OANDA rate - 3%.

    Currency Converter for 164 Currencies

  9. #9
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    I use PNC Bank free checking. I get charged 3.50 for any withdrawal from ATM in Dominican Republic no other fees.

    Max withdrawal at one time via Banco Popular is 10,000 pesos for 3.50.

    Exchanges rates vary daily but I don't get charged extra fees for using other bank etc just a one international atm fee of 3.50.

    Max withdrawal daily is $500 usa.

    Carrie

  10. #10
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    Quote Originally Posted by Tamborista View Post
    Scotiabank DO has a reciprocal agreement with Bank Of America and neither charges a fee. You stated in your first post you had a B. of A. account. The fee is built in to the exchange rate and is charged by MC/Visa international.

    Who is charging you $10? If you used Scotiabank, you are entitled to a credit from B. of A.

    If the rate was way off the Street rate, challenge them and you will get a rebate. MC/Visa both use the OANDA rate - 3%.

    Currency Converter for 164 Currencies
    I say $10 since my acct. showed -$100.35 for a withdrawal of 3,000 pesos. I'll have to have my wife ask why the change rate is so back. She uses the Scotia Bank on JFK.

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