Exchange booth at Las Americas International offers much less for US$ and Euros than in banks

Dolores

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Diario Libre reports on the significant spread in the exchange rates offered at the Las Americas International Airport of Santo Domingo. In the arrival area, the Globo Cambio company that has the exclusivity inside the restricted passenger areas was offering to exchange US dollars for RD$45 to the US$1. Outside the Banco Popular was offering similar rates to those available in banks in Santo Domingo. The exchange rate is hovering over RD$58 to US$1

Newspaper reporters recommend tourists to walk around the terminal, before exchanging to get the better rates.

Read more in Spanish:Diario Libre

28 May 2024

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CristoRey

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Tho we still have a long way to go, the old way of screwing foreigners out of their money across the country is slowly coming to an end.
 
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JD Jones

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I wonder how much they pay monthly for that spot.
 

CristoRey

Welcome To Wonderland
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This is far from the ONLY Country that does this. ANY Airport in ANY Country is a ripoff.........Including the US..............
aGREED but it's nice to see them suggest Banco Popular as an alternative.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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This is far from the ONLY Country that does this. ANY Airport in ANY Country is a ripoff.........Including the US..............
Exactly. There's a reason why you pay 20 dollars for a hot dog.
 

NALs

Economist by Profession
Jan 20, 2003
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Banreservas should open a drive-thru branch only by the Texaco on the way out. Just offer currency exchange service not at airport rates. No advertising in the terminal or even outside the terminal except next to the immidiate exit of the parking lot/ramp area a billboard offering the best exchange rates at the Banreservas on the way out. Those that changed currency in the airport terminal, lesson learned.
 

FF1

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Dec 17, 2022
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Same thing with the casinos, at Jaragua they give 5-10 pesos less than what you get on the street.
 

josh2203

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At least for EUR, Scotiabank offers very decent rates aside from Caribe Express and WU... Of course, the best rates would be from casa de cambio
 

josh2203

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This is far from the ONLY Country that does this. ANY Airport in ANY Country is a ripoff.........Including the US..............
Correct, aside from the fact that my wife hates airports, we've never spent anything else than occasional water/snacks for the kids on any airport... Bag of chips and two waters was like 10 USD at PUJ last time we went through... I still have the 1 USD bill in wallet, they only gave change in USD, no pesos...
 

Riva_31

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My humble opinion, looks like the person that wrote the article never traveled aboard, all airports has the same thing in common, they always give you very low exchange rate and in some countries also charge you a fee. Recomendation its only change the amount you need to arrive to your destination if there is not uber service.
 

tht

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Oct 10, 2002
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Last year I had a connection at Schiphol and I needed some USD cash. I took out 200 USD at an ATM (the ATMs can do USD, EUR and GBP). Guess what landed on my bank account?? 246 USD.
 

JLSawmam

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Sep 8, 2018
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My humble opinion, looks like the person that wrote the article never traveled aboard, all airports has the same thing in common, they always give you very low exchange rate and in some countries also charge you a fee. Recomendation its only change the amount you need to arrive to your destination if there is not uber service.
Based on another recent thread regarding Uber here in the DR, it's probably best to have cash and not use credit/debit cards for them either
 

Tom0910

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Sep 28, 2015
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At least for EUR, Scotiabank offers very decent rates aside from Caribe Express and WU... Of course, the best rates would be from casa de cambio
Incorrect. The best rates come out of an ATM using a debit card.
 

jrp13

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Feb 25, 2018
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Incorrect. The best rates come out of an ATM using a debit card.
Absolutely correct as of this morning Nacional Bank is giving 59.10 for the dollar and their ATM fee is only 150 pesos the lowest ATM fees in DR
 

josh2203

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Absolutely correct as of this morning Nacional Bank is giving 59.10 for the dollar and their ATM fee is only 150 pesos the lowest ATM fees in DR
I've withdrawn from Nacional for years, good to hear that their fees have not gone up... Indeed, they only charge 150 pesos for at least 30k pesos at a time (the max amount I have ever withdrawn) and the rate itself is good as well. Downside is that the bills they give are usually older, not so shiny...