Plastic is on its way to become the main mode of payment in the DR

[Dolores]

As is happening around the rest of the world, plastic is gaining as the preferred media of payment in the Dominican Republic.

A report in El Dia states that the preference for cash payments in the Dominican Republic has declined by 9.5% in the last four years, dropping from 65.5% in 2019 to 55.9% in 2023. This shift indicates a growing trend towards digital and modern payment methods.

According to the 2024 National Survey of Financial Inclusion and Education (ENIEF) report, the country is experiencing significant changes in the population’s payment habits.

“This transition aligns our payment practices with international standards and reflects our progress towards a less cash-dependent economy,” the report states.

The report also highlights that between 2019 and 2023, the number of individuals with at least one savings, checking, payroll, or time...

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[windeguy]

We were supposed to be cashless years ago. Oh well, and so it goes.

 

[drstock]

The DR will probably become a card dominated society one day, but the country is a very long way from that at the moment.

 

[JD Jones]

So Pichardo wasn't far off.

 

[pinonuevo]

NOT EVEN THE DOMINICAN GOVERNMENT ACCEPTS CREDIT CARD PAYMENTS.
DGII (dominican IRS) to accept a payment you have multiple steps: 1) Get payment authorization from DGII 2) Go in line to the Bank of Reserves 3) Go inline again to the DGII (IRS) and bring a Certified Check.
If there is a mistake of any kind you will have to wait months for the check refund from the bank.
It is so hard to deal with the dominican government to make a payment.
They are like the US in 1776.

 

[josh2203]

NOT EVEN THE DOMINICAN GOVERNMENT ACCEPTS CREDIT CARD PAYMENTS.
DGII (dominican IRS)

I only know renewal of marbete with DGII but at least there they accept CC payments. Perhaps not with all transactions though like you say.

 

[MariaRubia]

NOT EVEN THE DOMINICAN GOVERNMENT ACCEPTS CREDIT CARD PAYMENTS.
DGII (dominican IRS) to accept a payment you have multiple steps: 1) Get payment authorization from DGII 2) Go in line to the Bank of Reserves 3) Go inlin

again to the DGII (IRS) and bring a Certified Check.
If there is a mistake of any kind you will have to wait months for the check refund from the bank.
It is so hard to deal with the dominican government to make a payment.
They are like the US in 1776.

You can pay any government taxes online through internet banking, I make several tax payments every month. You just get the Autorizacion de Pago and input the number into the paying tax section of your internet banking, and it's immediately accepted - in the Oficina Virtual of DGII you see the payment pending, and as soon as you make the payment in internet banking, it disappears from the pending list. Has been that way for years, very efficient in my view.

You can definitely pay Migración using a credit card - I paid my residencia renewal last year with my Amex. And I think you could probably pay DGII and TSS with a credit card via internet banking. You can also definitely pay the Buena Conducta online using a credit card, I did that too recently.

So I don't think you are right on this one.

 

[pinonuevo]

The DGII does not take credit cards. and even has a limit on the amount that you can pay locally/REQUIRES a T-Check, flint-stone style.
I tried.
I can pay a few things online with the government but still they are very limited.
They have improved but it is very slowly.

 

[Peterj]

Cash is KING!

 

[CristoRey]

The only service I'm unable to pay for using a card around here is my rent. Colmados, Pharmacies, Super Markets, Claro, Ede Norte, Coraasan, Caribe Tours, EPS, KFC....
No problem.

 

[Manuel01]

Dollar notes are used an approx. 400 times before being replaced.
Meaning that every single 100$ Bill in circulation takes an estimated 1,200$US away from financial institutions.
If you pay 400 x 100$ by Credit card they get a commission of at least 1,200$US (2-4%).
In addition, all your transactions are traceable for the government.
No wonder they spend billions in Brainwashing people to use only credit cards.

 

[SKY]

I woman I know has a salon in her house. You can pay by Visa and Mastercard. She pays 600rd a month for the service. But they probably jack her on the juice percentage..........

 

[NanSanPedro]

The only service I'm unable to pay for using a card around here is my rent. Colmados, Pharmacies, Super Markets, Claro, Ede Norte, Coraasan, Caribe Tours, EPS, KFC....
No problem.

I've never seen a colmado here in Boca Chica take credit cards. There may be some that do but I am unaware of them. Everything else, yea, use the ol' Master Card or Visa.

I would think you could pay rent on line if you had a Dominican bank account. I don't and won't for the forseeable future.

 

[Manuel01]

I woman I know has a salon in her house. You can pay by Visa and Mastercard. She pays 600rd a month for the service. But they probably jack her on the juice percentage..........

Tell your friend that she is a dumb as it gets and to throw her verifone into the nearest garbage !
This people have no clue what they are doing.
She can call impuestos internos and ask them how much were here sales by Credit Card yesterday, last week or since day one.
Verifone, Blue etc are all reporting their transactions daily to Impuestos internos at 00:01 am.
If they ever start going after the small businesses (and they will very soon) than she and thousand others are totally f......!
They will estimate her Credit Card sales as 30% of total business and than she has to pay taxes all the years back.

 

[CristoRey]

I've never seen a colmado here in Boca Chica take credit cards. There may be some that do but I am unaware of them. Everything else, yea, use the ol' Master Card or Visa.

I would think you could pay rent on line if you had a Dominican bank account. I don't and won't for the forseeable future.

I've banked with Banreservas for over a decade.
Actually now that I think about it, I did pay my rent by using Remitly's direct deposit option in October and November of last year and technically the amount sent was drawn from my debit card linked to the account. 😎

 

[josh2203]

I would think you could pay rent on line if you had a Dominican bank account. I don't and won't for the forseeable future.

As far as I have seen, I think there are landlords out there who simply do not really do much banking and therefore only want rent in cash. I know with us, the only persons ever having accepted our rent as a bank transfers, where cases where the actual landlord was an expat either living abroad or not present in POP. I have always had the mindset that I really don't care in what form we pay the rent, as long as the landlord is happy with it. Last thing I need to is them not knowing whether or not the rent was paid. If they want it cash and do not offer bank transfer, we have not brought it up as for some reason they don't.

 

[CristoRey]

As far as I have seen, I think there are landlords out there who simply do not really do much banking and therefore only want rent in cash. I know with us, the only persons ever having accepted our rent as a bank transfers, where cases where the actual landlord was an expat either living abroad or not present in POP. I have always had the mindset that I really don't care in what form we pay the rent, as long as the landlord is happy with it. Last thing I need to is them not knowing whether or not the rent was paid. If they want it cash and do not offer bank transfer, we have not brought it up as for some reason they don't.

My landlord is Dominican. He owns property here in Santiago and up in NYC. His nephew manages the property and perfers I pay in cash unless I happen to be up in Florida when it's due.

The real mom and pop shops people run out of their homes around here are cash only.

 

[slinger]

My landlord is Dominican. He owns property here in Santiago and up in NYC. His nephew manages the property and perfers I pay in cash unless I happen to be up in Florida when it's due.

The real mom and pop shops people run out of their homes around here are cash only.

I ran a yellow light and the Policia wouldn't take a card. Wanted 200 pesos for his hambre.

 

[JLSawmam]

I've paid my rent via bank transfer from my BPD account to my landlady's account (BanReserva and now BHD) for several years...it's so nice! She has complimented me for always paying on time, which to me is just the normal right thing to do. If I had to pay in cash, that would be fine as long as they came to get it. I pay Claro and electric via BPD also...I detest going to those offices for anything. As far as debit card use for purchases here, pretty much just for groceries. I don't recall ever using my US credit cards here, maybe did so at a hotel.

 

[NanSanPedro]

I've paid my rent via bank transfer from my BPD account to my landlady's account (BanReserva and now BHD) for several years...it's so nice! She has complimented me for always paying on time, which to me is just the normal right thing to do. If I had to pay in cash, that would be fine as long as they came to get it. I pay Claro and electric via BPD also...I detest going to those offices for anything. As far as debit card use for purchases here, pretty much just for groceries. I don't recall ever using my US credit cards here, maybe did so at a hotel.

When you use your debit card, have you ever had any problems and does it ever leave your sight?

I'm really skittish about using it for anything except ATMs.