Banking

paul&beata

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Apr 7, 2004
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Hi all can anyone tell me the intrest rates, and if I take cash into dom rep is it beter in usd or dr drp
 

Seeme

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Dec 17, 2003
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paul&beata said:
Hi all can anyone tell me the intrest rates, and if I take cash into dom rep is it beter in usd or dr drp
USD is what you want to bring to the DR... Change it there.

Bank rates on CD is about 6.5 on USD and 23 on peso
 

paul&beata

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Apr 7, 2004
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If I was to take 30,000 uk pound would it best to take uk pound or usd can I bank in uk pound over there I think it would be best to take the pound and then put it into the bank as dop can you please help cheers

paul&beata
 

BushBaby

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Jan 1, 2002
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paul&beata said:
If I was to take 30,000 UK pound(s), would it best to take UK pound(s) or U$D? Can I bank in UK pound(s) over there? I think it would be best to take the pound and then put it into the bank as RD $. Can you please help - cheers

paul&beata
I have ammended your posting with Capitals, punctuation etc., to make it easier to read.

1) UK Pounds Sterling is NOT recognised currency in the shops here. U$D are in some places but NOT many accept ? Sterling.
2) You CAN open up a deposit account with one bank that I know of, that accepts ? Sterling, but that does NOT allow for normal banking transactions.
3) ? Sterling does not have as good a "Buying Power" as U$D, so my advice would be to change into U$D in UK & bring that with you!!
4) DON'T put your money in ANY Bank nless you have to!! Do a search in the archives with the key words "Coralito" (this could also be spelt "Corralito" or "Corrallito"). Once you have read those articles/posts, hopefully you will understand why NOT using banks for ? Sterling or U$D is recommended to would be immigrants!!! - Grahame.