Cambio check cashing policies

Chip

Platinum
Jul 25, 2007
16,772
429
0
Santiago
I'm interested in what has been people's experiences in cashing foreign checks at cambios here in the DR as far as the time they require the check to be guaranteed by a current client in good standing.

Thanks in advance
 

BushBaby

Silver
Jan 1, 2002
3,829
329
0
79
www.casabush.org
If the owner KNOWS you, RESPECTS you & TRUSTS you, then once you have signed on the reverse of the cheque he pays over the money. After ALL ............ he knows where to FIND you!! NEVER had a problem at our cambios, for cashing cheques I have been given AND cheques for friends of mine! ~ Grahame.
 

Chip

Platinum
Jul 25, 2007
16,772
429
0
Santiago
Thanks BB, I will talk to the owner.

Even though I have cashed some 5 odd checks with no problem they are now asking a friend of mine to guarantee them for a year even though we were told initiatially he would only have to guarantee the first three checks. In typical Dominican fashion the criteria seems to be a moving target. The girl I talked to on the phone denied this of course(as is so customary here) but this is initially what they told me.

BTw, this is at Agente de Cambio Taveras in Santiago.
 
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AK74

On Vacation!
Jun 18, 2007
842
36
0
I'm interested in what has been people's experiences in cashing foreign checks at cambios here in the DR as far as the time they require the check to be guaranteed by a current client in good standing.

Thanks in advance

I do it for many years getting practically the same rate as cash and instantly, without any waiting. I think it is the safest way to exchange money in DR. Too much fraud with ATMs and too much theft to carry cash.
 

Lambada

Gold
Mar 4, 2004
9,478
410
0
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www.ginniebedggood.com
If your cambio does investments deposit some cash with them. Then they will always honour cheques instantly because they already have your money to fall back on. Same as BB I've never had a problem cashing cheques (UK sterling account so a bit out of the ordinary) but we are pretty well known in PP.
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
13,766
2,194
113
Punta Cana/DR
www.mikefisher.fun
it is like written above,
beeing knowed by the cambio you'll get the cash right away because they trust you. that's some of the pos on the islands behaviors.
same like trading/making business over a longer time period, people know you are stand for what you brought and will count it on your favor/account/hand right away.
Mike