Exchanging Large US Bills?

[Goodwrench708]

I use my ATM card at Popular.... * I am charged $1.50 and my daily limit is 10,000 pesos
I can send myself a Western Union....$200 will cost me $10 fee....

The 2 options I use. * Depending on circumstances*
As for bringing 50s and 100s..... not an option*
Bring 20s....great condition*

 

[josh2203]

Ya. What's the currency in Swahili land? The rest of us are in the Dominican Republic and best to exchange into the local Peso's and understand the value. The more times you go to exchange the more you loose.

As I said. Take what works and leave the rest.

What?

I didn't have issues understanding either, this is pretty much what I have done in the past as well.

Could you also please clarify this, as perhaps I'm missing something:

The more times you go to exchange the more you loose.

If RonS arrived via the airport, I would also not exchange anything there, as the last time I had to change there, to purchase the tourist card in POP, the rate for USD/EUR was 1:1, or pretty close...

Other than that, I believe RonS said he is exclusively using pesos on the island?

 

[RonS]

Yes. Pesos and USD. And I might even consider using a credit card at the point of service; at a reputable restaurant or hotel. But I will never again use an ATM in the Dominican Republic.

 

[arturo]

This does happen more frequently than in North America/Europe. It's a good idea for this reason and others to have a backup card. Have a great trip.

And a good chance the ATM machine will eat your card.

 

[arturo]

What happened? It sounds like you had a scary experience.

Yes. Pesos and USD. And I might even consider using a credit card at the point of service; at a reputable restaurant or hotel. But I will never again use an ATM in the Dominican Republic.

 

[arturo]

I think I see your point. Me, personally, I prefer to lose an ATM card than to lose bank notes. This brings up an important piece of advice for visitors - - keep an eye on your bank statements. Keep Internet access available so you can track activity in your account. It's a good way to avoid cloning or other account fraud becoming a big problem. RonS, there are new chip technologies and other security features that make this sort of thing much less frequent than in years past.

I totally agree. There is a big difference in spending in the capitol and in some other parts of the country. $100 bills are fine in the capitol, not so much in other places where $20 bills are better. I arrive in the capitol and don't even think about exchanging money at SDQ. I pay the taxi in USD, check into my hotel, and go to the casa de cambio and exchange a few hundred into pesos. When I run out, I get more. After my first few years in the DR I completely stopped using their ATMs. When I leave the capitol with enough pesos to get by for a few days and go to the casa de cambio at my next destination. I have not a problem with 100 bills on the North Coast either. I haven't had a problem since I stopped using ATMs which have eaten my card, cloned it, and caused major challenges for me over the years. Hold on to some $20s and even a few smaller USD, but don't worry about using your C-Notes. Use a reputable casa de cambio and you'll be fine.

 

[Abuela]

Also call the bank who holds your card to let them know it will be used in the Dom Rep. Some bank's fraud departments automatically freeze accounts thinking it's suspicious activity.

 

[Garyexpat]

Just curious, how much better is Caribe Tours compared to a casa de cambio? Is it really worthwhile let's say for a tourist staying in la zona SD to cab it to and fro?

Most casa de cambio's are better than Caribe. In S.D. there are several across from Banco Ban Reserves on San Martin, also one on calle Santiago just west of calle Pasteur.
As always know what the current exchange is http://www.xe.com/currencyconverter/ is good. This way you know if they are trying to take advantage if you are obviously gringo and/or speak no Spanish.

 

[bigbird]

Most casa de cambio's are better than Caribe. In S.D. there are several across from Banco Ban Reserves on San Martin, also one on calle Santiago just west of calle Pasteur.
As always know what the current exchange is http://www.xe.com/currencyconverter/ is good. This way you know if they are trying to take advantage if you are obviously gringo and/or speak no Spanish.

Thanks, pretty much what I thought. I just couldn't see Caribe being that much better once one considers cost and time to go there. For the most part I use Frank's on el conde. Will look for the one you mentioned on calle Santiago.

 

[Meemselle]

Also call the bank who holds your card to let them know it will be used in the Dom Rep. Some banks' fraud departments automatically freeze accounts thinking it's suspicious activity.

THIS IS VERY IMPORTANT! Do not skip this pre-trip step, because otherwise you will not collect $200 and pass GO. Countries like the DR---not exactly Third World, but sort of 2.5---are primo fraud PINGS for First World banks.