Obtain debit card.

Bank of America allows FREE ATM withdrawals at any Scotia Bank in DR.

tambo'

its pretty easy to open an account here - they come with an ATM/debit card...you can use them as a credit card in stores and restaurants as well. Just bring with you a letter from your bank at home stating the length of time youve had an account there.

Tamborista said:

Bank of America allows FREE ATM withdrawals at any Scotia Bank in DR.

tambo'

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That's very useful information.

Thanks!

Washington Mutual has free ATM withdrawals worldwide including the DR. Free checking account, you can open it up online in 1 minute, free MasterCard debit, free checks, no minimum balance requirements. Only 1.5% foreign conversion fee, as opposed to 2-4% with other banks/card companies.

Banco Leon can open you a Peso account very quickly (on the spot) and most branches do not require background check. You get a VISA debit card (which, however, cannot be used for online/phone purchases). It is VISA but for electronic use only. Unlimited daily pourchases and RD$15,000 purchases. No monthly fee. RD$25 fee for withdrawals at NON-Leon ATM's, free ATM withdrawals at Leon's ATMs.

Another option you have is VISA prepaid card with Banco Leon, which is just 50 pesos (US$1.50) to open. You just need a passport. You can have balance both in Pesos and Dollars (good if you wnat to make purchase back in the USA). The card has no monthly fee if you use it at least once a month. Can be used for online/phone purchases. You can have unlimited "balance", unlimited daily purchases, and RD$15,000 withdrawals per day. You pay RD$10 per withdrawal at Banco Leon ATM's and RD$50 at other bank ATM's. There is also a new version called iMoney which has some club benefits. If your card is lost or damaged, it is replaced at RD$50 cost and the remaining balance is transferred to the new card.

With both - account with debit card, and prepaid VISA - you can have access to online banking to monitor your balance and account activity.

buzz off you silly B

the bee said:

it is very simple just don't travel there go to mexico it is much safer

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So you are Canadian eh? Ever heard of Brenda Martin?

John Evans said:

buzz off you silly B

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Good one....I second that motion!

rubio_higuey said:

Washington Mutual has free ATM withdrawals worldwide including the DR. Free checking account, you can open it up online in 1 minute, free MasterCard debit, free checks, no minimum balance requirements. Only 1.5% foreign conversion fee, as opposed to 2-4% with other banks/card companies.

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I have WAMU and they charge for international withdrawals,+an additional service charge,I paid approximately $75 in fees last month,they are not all that truthful.Its probably best to just buy a pre-paid mastercard or amex and bring it with you

Any opinions on using a Pay Pal Debit Card to withdraw money from ATM's in the DR, specifically Sosua?

FernieBee said:

Any opinions on using a Pay Pal Debit Card to withdraw money from ATM's in the DR, specifically Sosua?

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I use PayPal debit card all the time and I have never had a problem. I get a decent exchange rate and a $1 per transaction fee. I travel with two debit and two credit cards but the only one I end up using is PayPal.

bluemoonnyc said:

I have WAMU and they charge for international withdrawals,+an additional service charge,I paid approximately $75 in fees last month,they are not all that truthful.Its probably best to just buy a pre-paid mastercard or amex and bring it with you

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This is from WAMU website

Open by phone or at any branch/Financial Center for the amount of checking printing charges, or $1.00 if the free check option is selected or no checks are ordered. Or, apply online in less than 7 minutes.
No monthly service charge
Free ID Theft Services
Free Gold Debit MasterCard? with Rewards
Free overdraft or non-sufficient funds fee refund?use one per year
Free account access at more than 3,800 Washington Mutual ATMs nationwide
24/7 Telephone Banking
Free Account Alerts keep you up to date on the status of your account (when signed up through our Personal Online Banking)
Free check safekeeping
WaMu Free Checking account benefits are not available with Free Checking accounts opened prior to 3/11/06.
Free ATM cash withdrawals worldwide: Withdraw cash from your WaMu Free Checking account at any ATM and we won?t charge you a fee. Sadly, other ATM operators may still charge you a nonrefundable fee and foreign currency exchange and transaction fees may apply.

I have tried withdrawals on Banco Leon and Banco del Progreso ATM's and I was not charged any withdrawal fee, all I got was 1.5% conversion fee, which is standard on any international withdrawals and purchases, and most banks and card companies charge 2% upwards (DR banks cahrge 4%, for example).

What type of account do you have? Is it called Wamu Free checking?

Great info!