Self-banking

Conchman

Silver
Jul 3, 2002
4,586
160
63
57
www.oceanworld.net
Now that I have been the victim of debit/credit card fraud for the 6th time, I am planning on going 'cardless' soon. Of course I will keep my credit cards that I use internationally.

Debit/Credit Card fraud is just ouf of control here. Not sure if this is just a Banco Popular problem, it seems be island-wide and bank-wide.

No more slave to RD$10,000 withdrawals!

Cash is king!
 
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waytogo

Moderator - North Coast Forum
Apr 3, 2009
6,407
580
113
Santiago DR
Now that I have been the victim of debit/credit card fraud for the 6th time, I am planning on going 'cardless' soon. Of course I will keep my credit cards that I use internationally.

Debit/Credit Card fraud is just ouf of control here. Not sure if this is just a Banco Popular problem, it seems be island-wide and bank-wide.

No more slave to RD$10,000 withdrawals!

Cash is king!

That is exactly what I do and no headaches. I have one 10,000 peso limit Visa here with Popular and that is for emergency use only. Cash is King, no 2 ways about it.
 

RonS

Bronze
Oct 18, 2004
1,457
65
48
I totally agree! Cash is the way to go. Besides, you get a better exchange rate at the casa de cambio than you do from an ATM or bank and without incurring an international transaction fee. Just make certain to use your safe, where, by the way, you should keep all of your valuables.
 

TOOBER_SDQ

Bronze
Nov 19, 2008
708
212
0
Now that I have been the victim of debit/credit card fraud for the 6th time, I am planning on going 'cardless' soon. Of course I will keep my credit cards that I use internationally.

Debit/Credit Card fraud is just ouf of control here. Not sure if this is just a Banco Popular problem, it seems be island-wide and bank-wide.

No more slave to RD$10,000 withdrawals!

Cash is king!

How did the fraud play out this time? Similiar to previous times?
 
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RacerX

Banned
Nov 22, 2009
3,390
376
0
Yea, I d like to know. Bro, I use the same ATM or the same bank all the time. I take out $10K pesos at a time. Thats only $2?? and I get the same exchange rate as any casa de cambio could give. Probably because my bank is Citibank. There is no conversion fee. It just posts as $277 withdrawal from Scotiabank or Grupo Popular. What crap and balls ATM do you use? Are you checking for the magnetic reader on the insert? And how are they pocketing your PIN also?
 

RossW

New member
Jun 21, 2007
40
2
0
www.MovingtoDR.com
I would like to know too. I have been withdrawing money from ATM machines here for years and have only had a couple instances where the withdrawals were not correct, but my bank has quickly resolved them.

I will also add that I try to use the bigger banks, like popular and reservas. The times I have had transactions show more than once, my bank has gotten them reversed within a day or two of my call.

My recommendation to people is to just be aware of your transactions. I use my US credit cards here all the time (my preference always) and have never had a problem. I actually prefer to use my credit cards because I get the normal protection given by the US credit card company, as well as I accumulate points for more travel.

Let us know how you think your card was compromised!
 

dulce

Silver
Jan 1, 2002
2,523
211
63
Cash has always been the way to go in the DR. Now what you need to learn is how to use cash safely.
I used a savings account and only withdrew what I needed each month. I kept the bulk of that $ in a safety deposit box. I withdrew the $...kept what I needed to pay monthy bills and spening $...put remainder of withdrawal in saftey deposit box (near my home)....PASSED THE WORD THAT I NEVER HAD CASH IN MY HOUSE OR ON MY PERSON....got $$ from the strong box when needed. This method also helped with my budget because if I did not have the cash on hand I tended not to blow it.
The most important point of my post is..DO NOT ADVERTISE THAT YOU DEAL IN CASH. If you do that then people will assume you are a walking bank. You can lose much more $ IF you are the walking bank than is you use a bank.
 

J D Sauser

Silver
Nov 20, 2004
2,940
390
83
www.hispanosuizainvest.com
I had restricted my CC use on a very few "institutional" vendors, erronously thinking it would keep me fenced off from issues... got hit twice and now also don't use CC at all on the island. It would seem that the problems are much deeper routed than just facing the risk of dealing with a computer savvy vendor.

Cash has it's risks, so don't show it and keep it to a minimum.

... J-D.
 

Adam Spenser

New member
Nov 29, 2002
81
2
0
RacerX, I suggest you look closely at your Citicard statement. There is a charge for the use of your Citicard at an non Citicard ATM outside the United States. If you don't have a charge I hope Mr. Pandit, the CEO of CitiGroup does not find out. These charges provide 25% to the bottom line.

Adam