- Thread starter Don Pedro
- Start date
Rip off on exchange organised at POP airport
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aranoid:Agreed. I'll bet the critics see nothing wrong with 7-Elevens charging double the supermarket price for a bottle of soda. An airport cambio is a pure convenience. If you don't want to use it, I'm sure nobody will refuse to take your US $1 bills until you get to a more competitive cambio.
The only problem is that most tourists are not aware they are being "overcharged". Then again, when they compare it to the rates the get in their AI hotel, they may think they got a good deal at the airport.
I can't believe that anyone hasn't recommended the easiest way to exchange foreign currency to DR pesos. Thiss method also gives the absolute best exchange rates. It's called an ATM! I came to POP last week, and sat next to a man on the plane that was a first timer. I told him the best way to get pesos was at the ATM. As I was waiting for my luggage I saw him exchange dollars at the airport cambio. Go figure...
B
batich
Guest
Most American ATM cards began charging "currency conversion fee" on ATM withdrowals. Institutional greed and rip-off everywhere now.
B
batich
Guest
Even on a one hundred PESO. THey charge minimum $1US. And Up to $4US per transaction.
And it is in addition to a "regular" ATM withdrawal feel (if you use ATM that does not belong to your bank).
DO ME A FAVOR:
Post facts not BS.
You are not helping people on here by posting incorrect information.
Bank of America, ever hear of them?...charges a flat 1% of the amount PERIOD.
I am not the only one here that is tired of reading your horsesh*t.
Post facts not BS.
You are not helping people on here by posting incorrect information.
Bank of America, ever hear of them?...charges a flat 1% of the amount PERIOD.
I am not the only one here that is tired of reading your horsesh*t.
B
batich
Guest
I feel honestly sorry for you being who you are.
But I cannot do nothing to help you.
Good luck.
But I cannot do nothing to help you.
Good luck.
B
batich
Guest
11/9/2006 SUPERMERCADO PLAYERO SOSUA DO
VISA CURRENCY CONVERSION FEE $5.24
It is good that some guys are more lucky with their cards.
Congratulations!
VISA CURRENCY CONVERSION FEE $5.24
It is good that some guys are more lucky with their cards.
Congratulations!
Batich is quite correct most likely - FOR HIS BANK!!!! Each bank has its own schedule of fees etc. So Tamborista you may have been a little hard on him!
It is fact that you must take into consideration the fees for converting at an ATM. IF you take the maximum then the fees is fairly minimal. IF you take a small withdrawal then of course the fee will seem bigger if they have a minimum fee and many do.
The exchange rate offered will always vary from location to location. IT will change based on many factors: cost of location rent, convenience, staff costs (including transportation) competition from other exchange houses.
For example if you look at the Playa Dorada complex - you will find a HUGE difference in the rates offered from hotel to hotel and then compare that to the vendors at the plaza. Heck inside the plaza you will find 5 vendors with slightly different rates. I was there yesterday and looked!
In my opinion the rate offered at the airport in Puerto Plata is not great but it is definately not the worse I have seen here. Check out some of the hotels if you don't believe that. This is business folks and they will charge what the market will tolerate. If no one uses their services because the rate is bad then they will adjust it.
All we can do is suggest to visitors that they use their American money and wait to exchange to pesos elswhere.
It is fact that you must take into consideration the fees for converting at an ATM. IF you take the maximum then the fees is fairly minimal. IF you take a small withdrawal then of course the fee will seem bigger if they have a minimum fee and many do.
The exchange rate offered will always vary from location to location. IT will change based on many factors: cost of location rent, convenience, staff costs (including transportation) competition from other exchange houses.
For example if you look at the Playa Dorada complex - you will find a HUGE difference in the rates offered from hotel to hotel and then compare that to the vendors at the plaza. Heck inside the plaza you will find 5 vendors with slightly different rates. I was there yesterday and looked!
In my opinion the rate offered at the airport in Puerto Plata is not great but it is definately not the worse I have seen here. Check out some of the hotels if you don't believe that. This is business folks and they will charge what the market will tolerate. If no one uses their services because the rate is bad then they will adjust it.
All we can do is suggest to visitors that they use their American money and wait to exchange to pesos elswhere.
Lemme let you in on a little secret, If you pay in USD @ Playero, they give you as good as, if not better rate than any Cambio in Sosua to buy groceries.
Were you buying a new corkscrew?
tamborista
I am - and I'm not at anyone's beck and call. And yes, I removed the word 'fool' earlier. So, now, you got yourself into it, and you're a big boy, I suggest that you simply get out of it. This is a board, don't get ulcers .. it takes all kinds. Have another beer and chill already please!:laugh:
batich, most of what you say makes very little sense.... Tambo is correct on the exchange rate at the Playero, Planner is correct on pointing out the differences between the banks .. and do you have a darn corkscrew yet? If not, please buy one, have a glass of wine and treat this like a board, and not a gladiator's ring ... Ay dios! I feel like the schoolmarm at the schoolyard brawl.
Just had my first original thought for the day. Does anyone think there is a teensy weensy possibility that the staff at the Playero has something against Batich?:laugh::laugh: Is this a good subject for a Poll? Is the possibility that the staff at the Playero has something against batich 80%, 60%, 40% or just 20% ...
B
batich
Guest
Yes, Mr.Moderator, you are very right.
Very little sense.
From the point of view of those vested interests whose survival depends on constant influx of fresh money in pockets of new unaware naive expats/investors.
On the other hand, it makes a lot of sense from the point of view of those "bronze" members who do not dare to speak aloud and instead PM and SKYPE me. Who decide - "To be or not to be?"
And for them my strong advice for next several years will be:
"Rent,rent,rent!
Rent everything and everybody.
Absolutelly no commitment. No investing. No RE games. Avoid any activity that may bring you in contact with lawyers. Live light. Be always prepared at two hour notice to grab your Latitude C400 and jump in the first flight in PP aeroport with only a small backpack. Let the landlord deal with the rest.
DR is wonderful! Just do not forget what its real and only beauty is- endless summer,clean (so far) ocean, terrific beaches and thousands and thousands of beautiful young ladies without any age prejudices.
Do not burn bridges and keep your life savings in a different place."
If with my teaching I save even one human soul from being killed or financially broke - I will feel my mission accomplished.
And I am prepared to hear those words of hate and misery that I hear now as much as it might please those people who say them.
B
batich
Guest
I give my advice to those who ask about it. So, you may not to pay any attention. But if you are an intelligent person (that I am sure you are) you can easily analize data, events and figures yourself and come to the same conclusion.
I personally hate those salespersons who fool people into buying anything of pure greed and dishonesty. (Nobody on DR1 Forum is refered to!! of course).
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