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How to take your money - from UK

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North Wales, UK
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177 posts
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How to take your money - from UK

So we're thinking on having £1000 to take with us (works out roughly $1500 usd mark)

What is everyone from the UK doing in regards to actually taking their money with them?

I wouldn't want to take £1000 in actual cash, in our bags etc, that seems very unsafe. I know we'll need some us$ for entry into the country etc so will change a little...

Do you just use your normal debit card from an ATM? I've done a little research and have noticed that Nationwide is the only one that doesn't charge an extortionate amount for paying with or withdrawing money abroad. Shame we don't bank with them... Our banks charge a hefty 2.75% on each transaction!

Travellers cheques also seem on the expensive side, when you take into account all the charges...

So what is everyone doing?

Toronto
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1. Re: How to take your money - from UK

I would take US$ and use the ATM. These options should cost you 2-3%.

The cost for changing GBP in the Dominican Republic is quite high at around 7-12%.

dr1.com/forums/…post719417

Belfast, Northern...
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2. Re: How to take your money - from UK

Open a Nationwide flex account just for holidays, thats what we done. We use it to save up for holidays in and then take the debit card and the credit card they gave us on holidays. saved a lot in transaction fees and the exchange rate is normally quite good too.

We both have current accounts with other banks, so it can be done ok.

From reading on here a lot of people take TC and cash. I think I will just stick to debit card and withdraw from cash machine and take some cash also.

Personal preference really.

England
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3. Re: How to take your money - from UK

Hello,

We took dollars for the entry and exit tax, and about $100 for tips, in case we couldn't get any small denomination DR peso notes (they aren't that easy to get hold of.)

We then used the ATM - obviously in DR pesos.

Belfast, Northern...
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4. Re: How to take your money - from UK

Can you get DR pesos here in the UK to take with you? I know some countries you cant get their currency outside, just wondering.

TIA :o)

Isle of Man
Destination Expert
for Cabarete
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5. Re: How to take your money - from UK

Have a look here, half way down the page...

http://www.cabarete.org/AboutDR.html

In short, exchanging GB£ to US$ to DR$ you will lose.

For the difference it will make, you could actually just exchange sterling in to pesos at the money exchanges in DR.

You ***MUST*** have $10 entry tax (tourist) and $20 is advised for exit. Tips can be given in pesos too, that saves your hotel workers having to exchange dollars before they spend them!

HSBC bank (in the UK) also offers accounts that don't charge for foreign exchanges.

I have tried all the different ways and a debit card is definitely the best.

Isle of Man
Destination Expert
for Cabarete
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26 reviews
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6. Re: How to take your money - from UK

NYCfanNI...

Yes, you can buy DR pesos in the UK. I haven't done so for a long time though and I *think* you will only get RD$500 notes and higher. Even if you get pesos in the UK, you still can't use them for your tourist card! I've seen people escorted to the bank to exchange their pesos in to US dollars after they'd bought them in the UK!

Yorkshire
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7. Re: How to take your money - from UK

Hi,

I have just got back from the TSB from collecting £200 in $1, $5 & $10 dollar bills. I have also got £100 in peso but the smallest they would give me are 500 peso notes. I think they work out at £10 each.

I suppose the trips we will pay for using the debit card.

Not much time to get anything else now as we fly on Saturday.

Devon, United...
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for Puerto Plata, Dominican Republic
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8. Re: How to take your money - from UK

We take $US for Tourist Card And Departure Tax and then use our debit card when there.

Just remember folks from March 2nd the Tourist Card is now going to cost you $US15 per person as BobK as posted the update today.

Angie.

Toronto
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437 posts
3 reviews
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9. Re: How to take your money - from UK

http://www.cabarete.org/AboutDR.html

"In short, exchanging GB£ to US$ to DR$ you will lose."

He does not say you will lose. He says there is little, if any, advantage to taking US$. The point is that he is comparing this to using the ATM so this is true. He is not comparing taking US$ to taking GBP. You yourself previously pointed out how you got 4 peso per pound less with the cash which is a very significant percentage. The ATM is the best way to go but for those who want to take some cash as well, it is way better that it be US$.

Cheshire, United...
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10. Re: How to take your money - from UK

I have been to the DR numerous times over the last 13 years and I am frankly amazed that you feel you will need £1000 spending money for a 2 week break.

Are you not going "All Inclusive"? When we first travelled we did buy souvenirs etc although clearly we do not do so now. I am sure we never spent anything like that amount of money.

The only cash we take is around $300 in US dollars. Our only expenditure is tipping and the hotel safe (although this is often included).

We usually go on one trip, the catamaran. We have done all the others. We can use our credit card to pay for that. Make sure you notify your card company beforehand that you will be in the Dominican Republic.

What are you anticipating spending so much money on while you are there? If it is trips, use your credit or as suggested, a Nationwide debit card. Be aware though that you will be charged extra by the DR supplier for using a card.

I was unfortunate enough to need to see the hotel doctor a couple of years ago. My credit card was accepted without any problem.

The last few years we have travelled to the DR, we have not even bothered to change our dollars into pesos. Everyone is happy to take the good old Yankee dollar.

Have fun!