Travelers checks or dollars

[Paul]

I will be staying in Boca Chica in the very near future. Do the money exchange houses freely accept US travelers checks or is it cash only? There is a certain amount of security in the travelers checks.

Thanks in advance

 

[Susan]

Paul--

We recently (last month) did alot of travelling in DR and here is what we found:

1) The Banco Popular and InterBan and their like generally are bad places to try to cash travelers' checks. Most of the time the staff looked blankly at us and told us they couldn't do it.

2) Money exchange houses other than banks wanted to charge alot more for changing our travelers' checks, and due to the law that restricts which entities can change currencies, we stayed away from them. Dominican law is pretty strict on this point, so if you are uncertain as to whether any business (bank, exchange, hotel, restaurant, etc.) has authority to change currency, walk away and don't chance getting in trouble with the law.

3) The best place we found for changing travelers' checks was our hotels. No hassle, great rates.

4) Unless you're planning to shop at touristy shops near Santo Domingo (Boca Chica qualifies), you probably will need Dominican pesos. Use of credit cards is expanding in DR, but unless you're at a resort or tourist shop, bring pesos.

Hope you enjoy your trip! Susan

 

[Canadian Bob]

American Express Travellers Cheques are Readily exchanged for Pesos RD at all banks on the island. If you choose to bring cash you are definitely asking to be robbed. This is true of ALL countries, not just the DR, so dont think Im discriminating! Just change enough to carry you through for a couple of days at a time, and be sure to keep the numbers of your uncashed cheques in a separate place, preferably in the hotel safe. Have a great trip! Canadian Bob.

 

[Bill-Ontario]

Hi: My experience has been, if there is an ATM use it, if you are in a position to pay for accomodation, meals etc. use your credit card, otherwise take cash . I do not mean carry the whole amount on your person, only the amount you need per day. Travellers cheques in my opinion are passe.

The last place I stayed at in the DR, the person at the money exchange ( bank outlet) at hotel, had a very bad experience with travellers cheques - there was some problem, and HE had to make good. I can see his reasons not liking TCs.

That is my opinion only - I do not agree with Canadian Bob, because in all countries you cannot cash TCs. I was in the Ukraine, and otro muchos pais - ( for the last 28 years - and now about 4 trips per year) lets face it - the mighty US Dollar is where there is never a problem. Regarding the comment by Canadian Bob - waiting to be robbed - I don't get it? How does anyone know if you have cash or whatever ? And if you did lose a couple of hundred pesos - so what! Bill

 

[Paul]

Re: Travelers checks or dollars(yep)

Well I'm only going to be in the country for 31/2 days so its not like I'll have thousands of dollars on my person. I also agree that no one will know how much money I have unless I flash it around (which I wont). I know better than trying to convert it all at one time as well. I will convert each day what I think I will need to get me through until next time. I understand the concern about carrying money, but I'd never walk around with all my money. It would be kept safe in a room safe.

In regards to ATM machines, I've heard more than severial stories about machines in DR either not accepting the bank cards or encountering a problem only to find that the ATM machine kept the card.

Thanks Paul

 

[Canadian Bob]

Dear Bill, I stand corrected re the Ukraine,which I have not visited. I was just trying to explain the safety of Travellers Cheques re bringing down $US cash.Sorry if I caused confusion! As a matter of interest, the large Supermarkets,Hardware Stores & Restaurants accept Credit Cards,which I have never had any trouble with. Best regards, Canadian Bob.

 

[Bill-Ontario]

Re: Travelers checks or dollars(yep)

Re ATMs - I can only relate to one location. Playa Dorada Centro Plaza, - outside ATM - no problemo -except now many hotels pay their employees through direct -deposit , as a result it is almost impossible to get to use the machine on Saturday. Sunday no problem. Insofar as keeping the machine keeping the card - I can sympathisize with your concern but - it can happen anywheres- so always have a backup. In Panama City Fla- I had a machine which debited me $300 - which I wanted - I got $20 cash - what a hassle to try and get that straightened. Bill