Exchange rates at ATM's with US debit card

boca chica dave

New member
Sep 25, 2004
272
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Would DR1er's please advise what they are getting for rates at ATM's using a US bank debit card. We have been using our Bank of America card at Scotia, but we seem to be getting nailed on the US= Cd rate. Today we got 33.32 which seems to coorespond with Cd $1 to .924 US. I'm trying to see if its better to just pay the fees and be ahead. Thanks.
 

las2137

New member
Sep 1, 2008
290
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On 8/17 I withdrew pesos from BHD in Santo Domingo and got approximately RD$36 to the dollar. This does not include what my US bank charges me for "foreign fees."
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
Exchange

Would DR1er's please advise what they are getting for rates at ATM's using a US bank debit card. We have been using our Bank of America card at Scotia, but we seem to be getting nailed on the US= Cd rate. Today we got 33.32 which seems to coorespond with Cd $1 to .924 US. I'm trying to see if its better to just pay the fees and be ahead. Thanks.

That .924 to 1 rate is OK for Can-US

You can follow it Exchange Rates It closed today (Friday) at .922

They do not offer the DR Peso on that site but if you do the math

33.32 pesos to the Cdn dollar means you need to multiply by 1.0846 to upgrade to the US $ (at 92.4 rate)
It seems like you 36.14 DRpesos to the US$

Not Bad ? Ask around
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
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If you are using a USD based Bank of America account ATM card in Scotia Bank in DR, the CAD is not a factor in your currency conversion. USD are converted directly to RD Pesos. Since B of A has a relationship with Scotia Bank RD, there are no fees for this transaction.

I have used my B of A ATM card in DR @ Scotia Bank and always gotten a very favorable exchange rate, and no fees from either institution.
 

Lafcadio

Member
Jun 5, 2006
30
3
8
Tamborista,

No Currency conversion fee by BOA? If not, this is a great deal. I'm thinking of switching, as my local branch manager insists everything banking-wise can be done online internationally with BOA.

L
 

Malibook

Bronze
Jan 23, 2002
1,951
167
0
www.yourtraveltickets.com
No Currency conversion fee by BOA?
There are no service fees.
The rate you get will include a currency conversion fee (international transaction fee) charged by the Visa or Mastercard network.


Scotiabank is proud to be a founding member of the Global ATM Alliance, along with Bank of America, BNP Paribas, Barclays, Deutsche Bank 24 and Westpac.
For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Included in the exchange rate is a conversion fee of 2.5% of the converted amount.

Who sets the exchange rates for withdrawals I make overseas using my Bank of America ATM card?
The actual rate for an ATM withdrawal transaction is set by the VISA? or MasterCard? international network. The currency conversion rate on the processing date has an International Transaction Fee added. Contact Customer Service for information on international ATM transaction fees. The conversion rate on the processing date may differ from the rate on the date of the transaction.