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.