I also have a similar situation when I use my ATM card. Some people are just "doubters".Nope-your assumptions are incorrect. First off, I am rebated unlimited atm fees per month, so you can take that cchip off your shoulder. In terms of the exchange rate, the atm fee has been rebated, so 12000/266.6=45.01. That is the raw number minus the 120 atm fee.
Yes, this is correct. A Schwab Platinum Visa Debit Card. I was doing many atm withdrawals from Asociacion Cibao without any ATM fees whatsoever, but just a week or so ago, they changed their entire system. Now there is an atm fee per withdrawal and you can't even take $RD10,000 out at any one time.I also have a similar situation when I use my ATM card. Some people are just "doubters".
I understand that a Charles Schwab card is one of the best to use for such purposes.
Whoa there sensitive jimbo. Is that the 'high yield investor schwab checking account' you are in love with? With the high rate of, wait for it, 0.06% apr? Hope they throw in some vaseline with the deal, lol.Nope-your assumptions are incorrect. First off, I am rebated unlimited atm fees per month, so you can take that cchip off your shoulder.
I should be clear that when I said here I meant in Canada.Has anyone noticed the cambio or Scotia rate for a Canadian dollar in Sosua area recently? Am thinking of using Anna C's formula.
It's called arbitrage ladies and gentlemen. This is how fast money is made.I should be clear that when I said here I meant in Canada.
doing it at today rate,
If I buy pesos in Canada, 1000 CAD will get me 30,392.77 pesos
But if I buy US in Canada 1000 will get me 738.65 THEN hoping that it's 45 to one in the DR that will get me 33,239.25 pesos
So now it would be a little less than 3000 pesos more by going that route.
If we could get more than 30.39 pesos for our Canadian dollar in the DR that would be great.
Anyone know what the exchange for Canadian to pesos at cambio is ?
Well this was with a debit card at ATM-so yes they are using these interbank rates. Your post was very helpful with the Oanda suggestion. I looked at their currency converter page and it appears that it's possible that they are using this rate instead of what is being shown on Xe.com. The daily rate on the 13th was $RD44.80, whereas Xe.com shows over $45 that day.XE are interbank rates and not what you or I will get to exchange hard currency on the street, as is OANDA, which is what the credit cards follow (- Fx fee ).
My preferred transaction bank, USAA, reimburses all ATM fees, including international.If you buy an item / ATM withdraw with a foreign based credit card, it gets converted from RD Pesos @ the interbank rate to your base currency minus either 1% - 3%, depending on the bank.
However, the Interbank rate is usually a bit higher than the cambio / local bank rate.
So do an experiment, and see how OANDA is quoting the rate, and you can get an idea.
Around noon is usually that day's rate, AMEX MC/VISA can also be off by a day on the rate of conversion.
Were you or a family member (sibling, parent) in the military?As one of my ATM cards will no longer work at all in DR it is now useless to me and I am looking for a back up US bank. *I cannot get the "good" Charles Schwab card others like to use since I have no US residence. *
My brother was a Marine. *He passed away a number of years ago.* *I see nothing on the site that would allow me to qualify and:*Were you or a family member (sibling, parent) in the military?
If so, I cannot speak more positively than USAA. Best. Bank. Ever.