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  1. #1
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    Default How do pre-paid visa cards work in ATMs?

    Lo siento, slipping off the original topic for a question to rubio_higuey. How does the VISA work at an ATM, do you just withdraw money that exists on the card. I know you have mentioned in the past about this VISA and I should have paid more attention, very interesting and a more secure idea. You just go to Banco Leon and buy one for $50RD??? Info like this should become a sticky, or at least a category for money handling in the DR.
    Last edited by krwilson; 04-02-2009 at 09:22 PM. Reason: added bla bla

  2. #2
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    If you have PIN number on your Visa card you use it same as a debit card. You select "Cash Advance" if i remember correctly and there you go. Just be careful, it is not same as buying stuff with the Visa card, when you withdraw money on ATM they charge you interest from that day.

  3. #3
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    Quote Originally Posted by krwilson View Post
    How does the VISA work at an ATM, do you just withdraw money that exists on the card.
    Each Banco Leon prepaid Visa has a PIN assigned. The PIN comes on a sticker on a card, you activate the card via the rep in a branch after paying the RD$50 plus first load (any amount). The PIN cannot be changed, however (was possible in the past, but not now). So you memorize the PIN and remove the sticker. Then you can withdraw money at any ATM in the DR and abroad.

    The fees for withdrawing money from prepaid VISA:
    Banco Leon ATM: RD$ 10 per transaction
    Other ATM in the DR: RD$ 50 per transaction
    Other ATM abroad: RD$ 100 per transaction
    Foreign transactions: About 3% foreign conversion fee
    Domestic POS transactions: No fees

    In Banco Leon, you withdraw by selecting "TARJETA PREPAGO" or "PREPAID CARD", in other DR ATMs you withdraw by selecting "CUENTA DE AHORROS" or "SAVINGS ACCOUNT" and abroad by selecting "SAVINGS". If such and account selection option is not available at a foreign ATM, just select "WITHDRAWAL".

    You pay RD$ 20 anytime you load money on your prepaid VISA. If you have another account with Banco Leon, you can link the two together, and you can recharge the card for free. Also, you can move money between the account and the card as you wish at no fee at all. If you have just the prepaid card, you can also get Online banking t it for free, to monitor your usage.

    The good thing is, ANY transaction you make on your prepaid VISA shows up immediately in the Ibanking (for the first day), then it is "on hold" (blocked funds but not showing up in Ibanking), until it finally "posts" (shows up in Ibanking again), so you can get things like Paypal expanded use number etc. directly from your Internet banking screen right after you enter the card into Paypal.
    Last edited by rubio_higuey; 04-03-2009 at 12:24 AM.

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