Current situation on ATM machines and exchange rates?

[Bat Man]

Wow a $1,000/day is way more than I would need, that's a months worth of pesos. Since the introduction of "tap" I use my Visa (no fee card) for everything except bars, eating out and chicas of coarse.

You could use one of several no international fee credit cards and get points on the card My Chase Credit Card pings me when the card is charged and it's super easy to get charges taken off if you lose the card or if unauthorized charges appear. if you want to use a debit card I'd suggest an RFID blocking wallet.

[jd66]

Wow a $1,000/day is way more than I would need, that's a months worth of pesos. Since the introduction of "tap" I use my Visa (no fee card) for everything except bars, eating out and chicas of coarse.

You could use one of several no international fee credit cards and get points on the card My Chase Credit Card pings me when the card is charged and it's super easy to get charges taken off if you lose the card or if unauthorized charges appear. if you want to use a debit card I'd suggest an RFID blocking wallet.

But by using a credit card wouldn't you be subject to a cash advance fee plus have to pay interest from the date of the withdrawal until it's paid off.  Seems like the fees and interest would end up being way more than the points you might realize from doing that.  Plus I don't think you would earn reward points on cash advances anyway.

[stinqu]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

[jd66]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

You could use Xoom to send money to yourself as well.  The nice thing about Xoom is the money does not leave your bank account until you pick it up so if you don't use it there is no fee.    You can transfer up to $999 per day and the fee to the DR is only 4.99 from a bank account.  The real fee is more though since they make some of the currency exchange conversion as well.

[Coochie93]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

You could use Xoom to send money to yourself as well.  The nice thing about Xoom is the money does not leave your bank account until you pick it up so if you don't use it there is no fee.    You can transfer up to $999 per day and the fee to the DR is only 4.99 from a bank account.  The real fee is more though since they make some of the currency exchange conversion as well.

so where do you go to pick the money up once you send it? I know of telegram and Western Union but for these apps where do you go to get the money you transferred?

[mvagusta16]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

You could use Xoom to send money to yourself as well.  The nice thing about Xoom is the money does not leave your bank account until you pick it up so if you don't use it there is no fee.    You can transfer up to $999 per day and the fee to the DR is only 4.99 from a bank account.  The real fee is more though since they make some of the currency exchange conversion as well.

so where do you go to pick the money up once you send it? I know of telegram and Western Union but for these apps where do you go to get the money you transferred?

Yes could you please explain this process, ive xoomed money to someone but thought it just went into there bank account, is there a option for local pickup?? And where are there xoom stores??

[Jazzy2019]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

You could use Xoom to send money to yourself as well.  The nice thing about Xoom is the money does not leave your bank account until you pick it up so if you don't use it there is no fee.    You can transfer up to $999 per day and the fee to the DR is only 4.99 from a bank account.  The real fee is more though since they make some of the currency exchange conversion as well.

so where do you go to pick the money up once you send it? I know of telegram and Western Union but for these apps where do you go to get the money you transferred?

Caribe Express

[jd66]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

You could use Xoom to send money to yourself as well.  The nice thing about Xoom is the money does not leave your bank account until you pick it up so if you don't use it there is no fee.    You can transfer up to $999 per day and the fee to the DR is only 4.99 from a bank account.  The real fee is more though since they make some of the currency exchange conversion as well.

so where do you go to pick the money up once you send it? I know of telegram and Western Union but for these apps where do you go to get the money you transferred?

There are several places for pickup but Caribe Express in Charamicos is probably the most convenient

[Jazzy2019]

The local banks ding you for a fee, if I go to Scotia Bank, no fee/ transaction (300 pesos) at most Bancos. The exchange rate is actual half what they charge me to buy pesos in Canada at the same bank. I found that if I send my self money through MoneyGram at Canada Post offices, the exchange is better. I use this as a back up, if my card get compromised. Got that piece of paper worth cash money. What ever you choose that amount ,to me, 500 makes me good . If you don't use it, you can get a refund, less the the fee

You could use Xoom to send money to yourself as well.  The nice thing about Xoom is the money does not leave your bank account until you pick it up so if you don't use it there is no fee.    You can transfer up to $999 per day and the fee to the DR is only 4.99 from a bank account.  The real fee is more though since they make some of the currency exchange conversion as well.

so where do you go to pick the money up once you send it? I know of telegram and Western Union but for these apps where do you go to get the money you transferred?

There are several places for pickup but Caribe Express in Charamicos is probably the most convenient

My preference is the office located next to Super Pola.

[stinqu]

Charimico is too far to go when there is a MoneyGram spot in Susua. I buy the Grams before I go, from the Post Office (Canada), fee half of WU, and exchange half what Banco Popular charges, much much safer than bring all cash.

[murano2010]

This is a great thread.  A lot of information shared.  I particularly endorse bringing enough US cash with me to the DR for a vacation.  A person can exchange what they want when needed.   I was doing that long before I started living in the DR.  IMO, thats all one may need.   Once the vacation was over, I took home the rest of the US cash I brought, and a significant amount of pesos to use for the next trip. 

Guys on vacation should consider using ATM cards as backup, not as their primary source of funding their vacation.   Since I live in the DR ( Sosua ) I am an exception to the rule.   I bring enough US cash to live on, and I also use my Charles Schwab DC to get pesos to live on.   However, I dont use ATMS in Sosua.   I only use one ATM, and it's in Puerto Plata.   

I rarely use the US cash I have on hand.  Except for paying rent.  The rest stays locked up.  I use pesos to pay for entertainment, and some small things.  But I also do something else that has not been covered in this thread.   I use my phone with Samsung Wallet to pay for gas, groceries, and large ticket items where the business has a tap/scan to pay CD/DC terminal for receiving payment.   

Guess what tap to pay DC Im using with Samsung Wallet?  It's my Charles Schwab DC.   Using my phone to pay, I get a better exchange rate on the purchase than if I paid with pesos.  Plus, I get the security of making transactions without my DC being compromised or cloned.   And no foreign transaction fees.   

I regularly get gas at the Texaco, in Sosua.  I may buy 4000 pesos worth of gas using my phone.   It comes out of my Charles Schwab account.  And I get to keep the 4000 pesos ( that I would have used ) in my pocket to be used for something else.   Same thing with purchasing groceries.   Super Pola and the Playero both have tap/scan to pay terminals at the register.   You do not have to produce a card when using your Mobile Wallet.    This also works with Apple Pay.   

My using the Digital Wallet, that cuts down on trips to the ATM.  And you are getting a better rate on your purchases than if you paid with pesos.   One warning though.  Getting a good rate on your purchase may not work everywhere in the DR.  But it has worked for me at the places I just mentioned.

One time I got gas in Puerto Plata from the station where the Burger Kings is.  When I checked the rate later, it wasnt as good as what I would have got at the Texaco in Sosua.   La Sirena and Jumbo in PP both will yield good rates on your purchase using your phone's digital wallet.   

And lastly, you can also store your loyalty cards digital information ( La Sirena/Super Pola card, or Playero card, PriceSmart card etc ) within your Digital Wallet.   So you do not have to carry those cards with you to the store.  Your membership card can be scanned from your phone. 

[stinqu]

Murrano, for you, cash and phone APP is fine, I don't live there long term. I bring enough USD to pay the rent plus a bit more. I have pesos when I hit the ground (10-15,000), use TAP to shop and MoneyGram for cash.

[murano2010]

Murrano, for you, cash and phone APP is fine, I don't live there long term. I bring enough USD to pay the rent plus a bit more. I have pesos when I hit the ground (10-15,000), use TAP to shop and MoneyGram for cash.

Did you read my comment and took it as if I was addressing you?   If not, it sure seems like it.   I mean, why are you telling me that you dont live there long term?   If what I posted doesnt work for you, you dont need to give me an explanation for why you wouldnt use your phone.     

I provided the info to show another example of how one can operate with their finances in Sosua.  Using a digital wallet on a phone has no direct relation to whether a person is in the DR short term or long term.   In both instances, a phone can be used to pay for certain things.   If one chooses that option.

[stinqu]

No dis. man, just me.

[sosuasosua]

This is a great thread.  A lot of information shared.  I particularly endorse bringing enough US cash with me to the DR for a vacation.  A person can exchange what they want when needed.   I was doing that long before I started living in the DR.  IMO, thats all one may need.   Once the vacation was over, I took home the rest of the US cash I brought, and a significant amount of pesos to use for the next trip. 

Guys on vacation should consider using ATM cards as backup, not as their primary source of funding their vacation.   Since I live in the DR ( Sosua ) I am an exception to the rule.   I bring enough US cash to live on, and I also use my Charles Schwab DC to get pesos to live on.   However, I dont use ATMS in Sosua.   I only use one ATM, and it's in Puerto Plata.   

I rarely use the US cash I have on hand.  Except for paying rent.  The rest stays locked up.  I use pesos to pay for entertainment, and some small things.  But I also do something else that has not been covered in this thread.   I use my phone with Samsung Wallet to pay for gas, groceries, and large ticket items where the business has a tap/scan to pay CD/DC terminal for receiving payment.   

Guess what tap to pay DC Im using with Samsung Wallet?  It's my Charles Schwab DC.   Using my phone to pay, I get a better exchange rate on the purchase than if I paid with pesos.  Plus, I get the security of making transactions without my DC being compromised or cloned.   And no foreign transaction fees.   

I regularly get gas at the Texaco, in Sosua.  I may buy 4000 pesos worth of gas using my phone.   It comes out of my Charles Schwab account.  And I get to keep the 4000 pesos ( that I would have used ) in my pocket to be used for something else.   Same thing with purchasing groceries.   Super Pola and the Playero both have tap/scan to pay terminals at the register.   You do not have to produce a card when using your Mobile Wallet.    This also works with Apple Pay.   

My using the Digital Wallet, that cuts down on trips to the ATM.  And you are getting a better rate on your purchases than if you paid with pesos.   One warning though.  Getting a good rate on your purchase may not work everywhere in the DR.  But it has worked for me at the places I just mentioned.

One time I got gas in Puerto Plata from the station where the Burger Kings is.  When I checked the rate later, it wasnt as good as what I would have got at the Texaco in Sosua.   La Sirena and Jumbo in PP both will yield good rates on your purchase using your phone's digital wallet.   

And lastly, you can also store your loyalty cards digital information ( La Sirena/Super Pola card, or Playero card, PriceSmart card etc ) within your Digital Wallet.   So you do not have to carry those cards with you to the store.  Your membership card can be scanned from your phone. 

   Can you pay at register with phone if offline?