Anyone else using this machine. Last year I was able to take out 10,000 pesos each withdrawl and do it 4 times for a total of 40,000 pesos. I have been twice this year and only allowed 5,000 pesos at a time for a total of 20,000 pesos
- Thread starter Harleyssuck
- Start date
Scotia bank machine in Cabarete
I use the Scotia Bank machines in Cabarete exclusively. Max 10,000 pesos, daily limits are set by cardholders bank.
The banks at any time can change the limits of their ATM withdrawals. The reasons could be for security to prevent thieves from unloading accounts, to limit the amounts to allow more clients in line the ability to access some cash. It also could be the client's own financial institution doing the limiting. Going to an ATM in the DR is crap game.
Regards,
PJT
Would the effect on this limiting measure not be the exact opposite? If you limit the amount you can withdraw less, everyone can withdraw what they need in one transaction. If you limit it, just like the OP described, you need multiple transactions in the worst case scenario, taking much longer obviously than just one transaction.
You may be right on the theft aspect, but I believe the principal reason would be the banks wanting more fees. Those you get per transaction.
My first guess would be if you cut the limit in half, the bank can collect double the fees since the bank would get double the transactions.
My system is to deposit a surplus on my credit card, then go to a teller at Santa Cruz where you can get up to 100,000 pesos advance from the card. No real idea about the fees or the exchange rate, but I avoid getting my card cloned and also avoid Cabarete.
Not sure what the max limit is, but I can get 20,000 pesos at a BSC ATM with my BSC card. I rarely need more pesos than that at one time. I'm not going to waste my time taking out 2000 pesos at a time at other bank ATMs. I think the banks want to try to make sure that there's enough money in the machine for their clients.
I was at this one a week ago, I was chatting with the folks queuing for the machine nearest to the door saying the other one was not allowing more than 5k/10k etc. I tried the other one but it did not have 2000 peso notes so I waited and took out 22000. This limit seems to be set by the card issuing bank.
I like ScotiaBank ATMs as they let me choose the denominations. I will probably try to open an account next time I go there
I like ScotiaBank ATMs as they let me choose the denominations. I will probably try to open an account next time I go there
Forgot to add, I have regularly withdrawn 20k from Scotia Bank machines in their branches (Cabarete, Santiago, Puerto Plata) with no fees and if you use certain UK banks you get the Mastercard exchange rate and no fees
I thought the no fees was only for Scotia Bank card holders, local or from Canada etc. , it's interesting to hear also for UK banks, which bank do you have...?
Starling and Chase UK. Starling has a £300 per day limit and Chase allows upto £500 per day - both apps provide a converter to see how much you will get charged.
Monzo is ok for purchases but they have fees for cash withdrawals over certain limits depending on EEA or non-EEA regions and for me, Starling & Chase make it very simple and bother-free to use them and between both, I can do get almost 800 quid each day.
Scotiabank ATMs do show the 'fees from 65 to 300 DOP may be charged' message for me but they never charge it. To be honest, the first time I tried, I was not worried because I prefer pulling out 20k in one go and get on with my day and it was a nice surprise to see that I got a much better exchange rate too.
From my experience, the limit is set by the bank you're withdrawing money from. With my BSC and BHD card, I can only withdraw 2000 pesos at a time from Popular and Banreservas. Scotia bank will give me 5000. With a US debit card, BSC will only give me 4000, but I can get 20,000 with my BSC card. Scotia gave me 10,000 on my US debit card. Those are one-time withdrawal numbers. I don't know what the max is if you keep trying gain and gin(?). With my US debit card, I can go into the bank and get 100,000.
Not correct. If this was true, the limit would not be ATM specific and just in the DR... I have never had limits on my foreign cards.
The same card, Scotiabank POP vs. La Nacional POP, the first lets withdraw 10k, the second 15 minutes later 30k, on a single transaction. My card issuer would not be familiar with either of those banks, so they would not have a reason to differentiate the limit.