Debit and credit card in DR

erod

Member
Apr 9, 2017
30
0
6
Hi all,

I was wondering if anyone uses their USA/EUR
Debit or credit card in the DR. I'm planning to retire in DR. My bank in US doesn't charge me any international fees for credit card and no ATM or exchange rate for debit withdrawal. They reimburse
Any fees charge by other banks.

My plan is to keep my US checking account and withdraw money in DR from ATM. For purchases,
I'm trying to use my US credit card which doesn't have any fees. This way I can avoid DR banks headache etc.

Any feedback or suggestions on my plan?
Is it a good idea or not? If not, what would you suggest?
 

josh2203

Bronze
Dec 5, 2013
783
55
48
Hi all,

I was wondering if anyone uses their USA/EUR
Debit or credit card in the DR. I'm planning to retire in DR. My bank in US doesn't charge me any international fees for credit card and no ATM or exchange rate for debit withdrawal. They reimburse
Any fees charge by other banks.

My plan is to keep my US checking account and withdraw money in DR from ATM. For purchases,
I'm trying to use my US credit card which doesn't have any fees. This way I can avoid DR banks headache etc.

Any feedback or suggestions on my plan?
Is it a good idea or not? If not, what would you suggest?
We do this, but with a few disclaimers, I'm sure others have different experiences/opinions:

We get monthly deposits to our European account, for which we have a debit card. We use that card exclusively to withdraw funds from the ATMs of one certain bank (Banco Progreso), for no payments or nothing else. This far, no complaints.

My 2 cents would be, that if you have a large sums on a specific account abroad, I would not use the card attached to that account even to withdraw funds here, but a separate account, to which you transfer funds as per what you are intending to withdraw/pay. So when you go withdraw or pay with the card, all that is available, is the amount you intend to pay or withdraw. I'm sure others also use cards to pay for everything and without any issues, this is just how we've used to do this and for our own peace of mind, to avoid any trouble where you have to deal with the banks here, even if the bank abroad would be reimbursing the funds should something go wrong.
 

malko

Campesino !! :)
Jan 12, 2013
4,431
58
48
I use a french debit card ( eurocard-mastercard ) to pay for shopping (el national and la sirena ).
I use a swiss pre-paid card to take out pesos in dr banks, if needed.
And a seperate card for internet stuff.

I get a good enough exchange rate on the first, but a flat 5€ fee for using it here. ( so typically, i only use for large-ish payements )
I get a bad exchange rate on the 2nd, but no fees......
So choose your poison, lol.

Couple that with sending yourself some cash ( friends, relatives or even when yoi go back home for a stint ), and you can live without a dr bank account, I do.

P.S. i still do have a dr bank account, but hardly ever use it.ī
 

erod

Member
Apr 9, 2017
30
0
6
I use a french debit card ( eurocard-mastercard ) to pay for shopping (el national and la sirena ).
I use a swiss pre-paid card to take out pesos in dr banks, if needed.
And a seperate card for internet stuff.

I get a good enough exchange rate on the first, but a flat 5€ fee for using it here. ( so typically, i only use for large-ish payements )
I get a bad exchange rate on the 2nd, but no fees......
So choose your poison, lol.

Couple that with sending yourself some cash ( friends, relatives or even when yoi go back home for a stint ), and you can live without a dr bank account, I do.

P.S. i still do have a dr bank account, but hardly ever use it.ī

Thank you for all replies. When you shop with either debit or credit card, I assume the store may ask you if you want to charge the purchase in dollars/euros or pesos since you are paying with a foreign card. What's advisable in this case?
 

Dr_Taylor

New member
Oct 18, 2017
351
2
0
Hi all,

I was wondering if anyone uses their USA/EUR
Debit or credit card in the DR. I'm planning to retire in DR. My bank in US doesn't charge me any international fees for credit card and no ATM or exchange rate for debit withdrawal. They reimburse
Any fees charge by other banks.

My plan is to keep my US checking account and withdraw money in DR from ATM. For purchases,
I'm trying to use my US credit card which doesn't have any fees. This way I can avoid DR banks headache etc.

Any feedback or suggestions on my plan?
Is it a good idea or not? If not, what would you suggest?
I have a suggestion. Consider opening a local savings account denominated in USDs, and keep less than USD$5,000 or so in the account. Periodically, refresh the account by depositing a check drawn on your US bank. My checks clear in less than one week. I do not use US debit cards or credit cards in DR ATMs, but have used an AMEX over the counter. I will not use a US debit or credit card in a foreign ATM.
 

Dr_Taylor

New member
Oct 18, 2017
351
2
0
Thank you for all replies. When you shop with either debit or credit card, I assume the store may ask you if you want to charge the purchase in dollars/euros or pesos since you are paying with a foreign card. What's advisable in this case?
When I used my AMEX, the store charged in DOP as it should. AMEX does the conversion, and the rate is O.K.
 

SKY

Gold
Apr 11, 2004
9,959
269
83
Thank you for all replies. When you shop with either debit or credit card, I assume the store may ask you if you want to charge the purchase in dollars/euros or pesos since you are paying with a foreign card. What's advisable in this case?
Do not pay in anything but Pesos. Your card will give a very good rate. Anyplace letting you pay in US dollars a very bad one.
 

erod

Member
Apr 9, 2017
30
0
6
I have a suggestion. Consider opening a local savings account denominated in USDs, and keep less than USD$5,000 or so in the account. Periodically, refresh the account by depositing a check drawn on your US bank. My checks clear in less than one week. I do not use US debit cards or credit cards in DR ATMs, but have used an AMEX over the counter. I will not use a US debit or credit card in a foreign ATM.
Any reason why you don't use debit or credit card in a foreign ATM?
 

william webster

Platinum
Jan 16, 2009
24,201
913
113
erod
you may have noticed that you're getting 'opinions' here.

Fact based answers will allow you to use that ATM idea easily and at good exchange rates....
with or without a DR bank account.

Using cards in foreign countries is a personal thing - some like it , some don't.

Personally, I have all the options... foreign cards, local banks, DR cards.
Still, I pay cash mostly
This country is cash oriented....

I get that cash from my foreign or local debit card...whichever account I choose
Infrequently, dentist, etc, I use a foreign credit card

All a matter of preference....and convenience to me
 

JDJones

Moderator - Covid 19 in DR
Jan 7, 2016
2,210
276
83
We do this, but with a few disclaimers, I'm sure others have different experiences/opinions:

We get monthly deposits to our European account, for which we have a debit card. We use that card exclusively to withdraw funds from the ATMs of one certain bank (Banco Progreso), for no payments or nothing else. This far, no complaints.

My 2 cents would be, that if you have a large sums on a specific account abroad, I would not use the card attached to that account even to withdraw funds here, but a separate account, to which you transfer funds as per what you are intending to withdraw/pay. So when you go withdraw or pay with the card, all that is available, is the amount you intend to pay or withdraw. I'm sure others also use cards to pay for everything and without any issues, this is just how we've used to do this and for our own peace of mind, to avoid any trouble where you have to deal with the banks here, even if the bank abroad would be reimbursing the funds should something go wrong.
Same here. Transfer funds, withdraw them, then the account is practically empty so nothing to steal. Simple.
 

william webster

Platinum
Jan 16, 2009
24,201
913
113
many people (me) do that with credit cards....

The internet sees just my midget card....
I had Chase block my main card from internet use
 

SKY

Gold
Apr 11, 2004
9,959
269
83
Ordering on the Internet is worry free if you use Paypal with your cards. The merchant never sees the CC number.
 

CristoRey

Silver
Apr 1, 2014
5,212
1,235
113
All Dominican banks charge fees to withdraw money. I strongly recommend
use pick one financial institution down here and only use their ATMs. This way
when something get screwed up your bank in the states only has to deal with
one bank down here sort out the mess, not several.
 

william webster

Platinum
Jan 16, 2009
24,201
913
113
good advice... I never have thought that way....
But, by accident I guess, I live that way...one bank

Also... always the same gas station, colmado etc as much as possible....
less chance of trouble/cons/games... IMO

A routine.... a deliberate one
 

Buffness

Member
Oct 9, 2014
141
7
18
Any reason why you don't use debit or credit card in a foreign ATM?
Can be expensive depending on the bank . For example 5,000 pesos ATM withdrawal in December (around $98 ) , came to around $114 USD i.e
1. Withdrawal = $105.58
2. FX Rate Adjustments = $ 4.10
3. Non Chase ATM fees= $5.00

However , withdrawal from Scotiabank in DR with a Barclays bank ATM card worked out to be much less.

So , a local bank DOP bank account for anything frequent and less than 5,000 pesos , plus the use of foreign cards for infrequent purchases , works for us .
 

Dr_Taylor

New member
Oct 18, 2017
351
2
0
Any reason why you don't use debit or credit card in a foreign ATM?
I am simply not comfortable with using my US ATM in the DR. I realize that many do so, I simply choose not to do so. My DR ATM works just fine for my periodic cash withdrawals, moreover, my DR bank provides a text alert as soon as I use my card, gives the amount, and provides a link to challenge the withdrawal if I did not make it.
 
Last edited:

william webster

Platinum
Jan 16, 2009
24,201
913
113
FYI Doctor
My Cdn card alerts me to ATM withdrawals in the DR...same as you
It's instantaneous...

ScotiaBank card....global alerts
 

RDKNIGHT

Bronze
Mar 13, 2017
1,024
124
63
I would never you use my Atm card here.. I only use my CC with no international Fees... and that i only use at big stores... so far so good... if there is ever a problem My CC will fight it out with the Wackos not me.....
 

bob saunders

Platinum
Jan 1, 2002
27,852
1,468
113
dr1.com
I use my Dominican CC to purchase gas, cash for everything else. So far no issues. My wife uses her scotiabank CC for purchases in Pricesmart and her Sirena CC for Sirena, Cash for everywhere else. No fees for two withdrawals of cash from my DR bank account per month and 50 pesos each after that. I do withdrawn money from my Canadian account using the ATM at Banco Progreso or Banco popular. I get charged a fee, usually about 150 pesos. Everybody has different circumstances so you need to do what works for you. I have a line of Credit at BHD, but haven't used it yet and I have a lot of daily deposits that go into my Dominican bank acct at BHD bank.
 

JDJones

Moderator - Covid 19 in DR
Jan 7, 2016
2,210
276
83
I use my US Citibank AA card every day for almost every purchase anywhere CC's are accepted. I've accumulated almost 200K miles and have never had a problem with it.
I've had if for about 9 years. Luck?