Page 5 of 5 FirstFirst ... 2345
Results 81 to 83 of 83

Thread: 09/2014 - Money exchange rates

  1. #81
    Join Date
    Sep 2017
    Location
    Ontario, CAnada
    Age
    46
    Posts
    22
    Thanks
    21
    Thanked 90 Times in 22 Posts

    Re: 09/2014 - Money exchange rates

    Quote Originally Posted by questner View Post
    This one is more of interest to anyone whose local currency is not USD

    So, I checked today's cash rates at Scotia bank (Compra rates, they buy USD, CAD and euros, pounds and yens)

    I checked at the same time the interbank rates for USD/CAD/DOP

    For every 10,000 peso ATM withdrawal I pay about 200 pesos fees to the Dominican bank, and at the same time I loose 2.5% to Visa over the interbank rate)

    I did all calculations for 60,000 pesos for three types of scenarios,

    a) Exchange CAD cash into DOP in Dom Rep
    b) Exchange CAD cash into USD cash at home and then USD cash into DOP
    c) Withdraw DOP at the ATM billing CAD account

    All three came very close, so the preference is not a price, but convenience, safety etc.

    The only way to save was in b) when I go through the foreign exchange broker and not the bank, and it saves 2% or in my example 1,200 pesos for 60,000 pesos in cash.

    There may be other bump if I can find the exchange in Dom Rep which pays more for USD cash than Scotia, and is safe and proven. So, who pays more in Sos. and by how much?
    Very interesting. I am from Canada and heading for my first trip and trying to figure out what to bring. I think i have to pay the hotel in cash $USD.

    Is it easy to exchange CAD to DOP or are there only certain places that do it?
    What is the withdrawal limit on the ATM?

  2. The Following 4 Users Say Thank You to curiousfun For This Useful Post:


  3. # ADS
    Our Supporters Support our advertisers!
    Join Date
    Always
    Location
    Advertising world
    Age
    2010
    Posts
    Many
    Medellin Luxury Apartments
     
  4. #82
    Join Date
    Mar 2009
    Location
    Michigan
    Age
    51
    Posts
    8,744
    Thanks
    22,179
    Thanked 75,235 Times in 8,745 Posts

    Re: 09/2014 - Money exchange rates

    Quote Originally Posted by curiousfun View Post
    Very interesting. I am from Canada and heading for my first trip and trying to figure out what to bring. I think i have to pay the hotel in cash $USD.

    Is it easy to exchange CAD to DOP or are there only certain places that do it?
    What is the withdrawal limit on the ATM?
    Exchanging CAD is not a problem

    ATM limit depend on the bank ATM you are using and what your bank allows.
    My Dominican name is Carlito Licky Chica Way Snitches are pathetic little people!


  5. The Following 4 Users Say Thank You to j_d66 For This Useful Post:


  6. #83
    Join Date
    Jan 2007
    Age
    49
    Posts
    2,417
    Thanks
    15,635
    Thanked 14,631 Times in 2,312 Posts

    Re: 09/2014 - Money exchange rates

    Quote Originally Posted by curiousfun View Post
    Very interesting. I am from Canada and heading for my first trip and trying to figure out what to bring. I think i have to pay the hotel in cash $USD.

    Is it easy to exchange CAD to DOP or are there only certain places that do it?
    What is the withdrawal limit on the ATM?
    Just recently, I paid USD cash to cover my accommodation, and made 3 ATM withdrawals 10,000 pesos each. The ATM fees were 200 pesos per withdrawal. Each withdrawal is within my daily limit and within my withdrawal limit per transaction.

    You can bring several debit cards from different banking institutions and a couple of credit cards to manage your risks in case one of the cards gets blocked for security reasons.
    ‘Forbear to judge, for we are sinners all’

  7. The Following 2 Users Say Thank You to questner For This Useful Post:


Page 5 of 5 FirstFirst ... 2345

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •