It Seems Like The Peso Domincano

Tom0910

Well-known member
Sep 28, 2015
898
652
113
I have a Charles Schwab debit card,I can take 10,000 pesos per withdrawal,I've pulled 30,000 in one day many times at Popular and Schwab refunds ALL ATM and foreign transaction fees. Never a problem.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
That 10,000 number pertains more to the particular ATM.

Yes, the card has limits - daily ones - but the ATM dictates how much it will spit out at a time.

Sometimes you need 2 hits to get your 10 (5+5)....my experience anyway
 

beeza

Silver
Nov 2, 2006
3,480
732
113
I tried using Zoom for an experiment.  Even though they say they are part of PayPal.  I have a PayPal account with my UK Lloyds debit card, my Progeso Amex debit card and my BHD debit card all registered and work fine for eBay purchases etc.  However Zoom won't let me send money from a non US based source of funds.

Also FYI, i have found that the BHD online banking and mobile apps are fantastic.  Better than any European bank app I have ever used.  I can move money, pay bills and swap between dollars and pesos either way from my iPhone.  All I need is my key card and a thumb print.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
The Progreso online platform is excellent too..

much easier than anything I have encountered elsewhere.

That's one thing to be said for the RD banking........
once you're in - it works well
 

chico bill

Dogs Better than People
May 6, 2016
12,632
6,389
113
The Progreso online platform is excellent too..

much easier than anything I have encountered elsewhere.

That's one thing to be said for the RD banking........
once you're in - it works well

How much do they take from you when it sits idle ? Is this the bank that needed to know where your wealth accumulated ? You do drive an MUX after all.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
My account never sits idle... I have a payroll every 2 weeks and I’m here 7-8 months a year 

No not the bank asking that....that was a European bank

I remind you the MU-X is used.....
 

jahjahwarrior

New member
Mar 14, 2017
137
5
0
Charles Schwab here too, some atm let me get 20k but most seem to follow the 10k. Occasionally bhd doesn't work and I use Popular in those cases.

Yesterday was getting 49.2 pesos per dollar, and way easier than bringing cash and going to change house.

Would like a popular account here to pay rent more easily but they told me to get a residency visa and try again after that...[emoji29]
 

USA DOC

Bronze
Feb 20, 2016
3,194
782
113
My account never sits idle... I have a payroll every 2 weeks and I’m here 7-8 months a year 

No not the bank asking that....that was a European bank

I remind you the MU-X is used.....

WW...what I was talking about was withdrawing $2 to $3 k usd every 2 weeks, done that for several years...my debit card is from the USA government. the military...so I guess when the manager of the popular bank,were I have several accounts tells me I can withdraw from my card at his bank as long as I want well....things change here every day without warning so as long as you want is a short time...like the girls in Nam that tell you ..love you long time G.I,that is shorter than 15 minutes......Doc.........
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
I didn't know that little fact DOC...

I never use foreign cards... odd time a credit card... rarely

sometimes it the reports to the USA that scares them

My investment company will not accept US taxpayers...
too much oversight/reporting
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
I've noticed that, too. The peso has been devaluating faster in the last month or two than previously. There's a shortage of USD in the country. I think that's why. That's another reason they just had that big bond sale.

Ominous development no doubt-Wouldn't be surprised, if we see 50 reached soon.
 
Jan 9, 2004
10,912
2,247
113
I just did a rough calculation and seems about 4% per annum. Sound right?



Except for the banking crisis years......that seems about the average depreciation rate.

The US Federal Reserve FOMC is meeting this week and likely to hike US rates. If US rates rise, this will push the peso value down further as it edges closer to a milestone 50:1 against the dollar.

Respectfully,
Playacaribe2 
 

barker1964

Silver
Apr 1, 2009
3,413
2
38
Except for the banking crisis years......that seems about the average depreciation rate.

The US Federal Reserve FOMC is meeting this week and likely to hike US rates. If US rates rise, this will push the peso value down further as it edges closer to a milestone 50:1 against the dollar.

Respectfully,
Playacaribe2 

The milestone was 2004....54 to 1
 

GringoRubio

Bronze
Oct 15, 2015
1,162
116
63
I'm thinking of buying an apartment building, just curious what the head wind is.

I guy got tired of posting the price in both dollars and pesos, so he just went to fixed peso price. I guess he figured it would eventually get cheap enough.
 
Jan 9, 2004
10,912
2,247
113
The milestone was 2004....54 to 1



That was the official government rate. The casa de cambios were offering several pesos more until Hipolito put the military outside their doors. I changed at 57:1....but.our departed CCccCcc got 59 at one point. 

Very short window......and then the IMF rescued the DR banking system and it went sharply the other way.

Respectfully,
Playacaribe2 
 

wuarhat

I am a out of touch hippie.
Nov 13, 2006
1,378
89
48
Xoom exchange rate sucks. 

 

If you take home delivery in USD you will get the delivery agent Caribe Express' rate of the day, which is usually pretty good. Funny thing is that USD is the only currency that the home delivery is available in on xoom's site, but Caribe Express will change it when they deliver it. Another funny thing is that xoom won't let you get USD unless you have it delivered, but if you don't want to wait for delivery, if you have them text you with updates, you will get a transaction number that you can bring to a Caribe Express teller and show your ID to pick it up there.
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
If you take home delivery in USD you will get the delivery agent Caribe Express' rate of the day, which is usually pretty good. Funny thing is that USD is the only currency that the home delivery is available in on xoom's site, but Caribe Express will change it when they deliver it. Another funny thing is that xoom won't let you get USD unless you have it delivered, but if you don't want to wait for delivery, if you have them text you with updates, you will get a transaction number that you can bring to a Caribe Express teller and show your ID to pick it up there.


It was as high as 49.80 just a week or so ago at Caribe Express, but now has dropped all the way down to 49.05.