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Exchange rate and money advice

Blackburn, United...
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Exchange rate and money advice

4 weeks to go before our first trip to DR, can anyone tell me if it's safe to take cash and if the exchange rates are better in DR than in UK thank you.

Uk
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1. Re: Exchange rate and money advice

Hi Gareth,

I'm off in 4 weeks too. I understand from reading many TA posts that dollars are best, unless going off resort then perhaps need a few peso's. It seems hotels do not exchange currency and the bank rates there are not favourable. I have ordered mainly dollars with a dew peso's. I am sure the regulars will correct me if I'm wrong!!!!

Where are you staying?

Jan

Sheffield, United...
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2. Re: Exchange rate and money advice

There are safes in your room ( usually digital) to keep cash and valuable. We take mostly dollars but if off resort you would get a better price in pesos. The rate is a bit higher in DR than UK and if using your debit card at an ATM please notify your bank first in the UK else they will block your cards in case of fraud.

The exchange rate in hotels is poor but Cambio's and banks are fine.

Some debit cards Halifax Clarity and I think the Nationwide you don't pay fees for withdrawals abroad.

I've just swopped my Halifax D card to Clarity..... all thanks to the good info on here :))

Sosua, Dominican...
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for Puerto Plata, Sosua, Dominican Republic
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3. Re: Exchange rate and money advice

You will get a much better exchange rate here. However do not exchange at your hotel or airport as their rates will not be good.

USD are accepted at your resort and most tourist area and shops however off the resort you will get better prices if you use pesos

Also remember that you have a $10 tourist card when you enter the country and a $20 exit tax when you leave. These HAVE to be paid in USD only. Sometimes depending on where you are traveling from and with what company one of both of these may be included in your tour package so check with your tour company.

or airline.

BObK

Cornwall, Canada
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4. Re: Exchange rate and money advice

Traveling from Canada, we only took USD. We didn't venture too far off the resort, just by taxi for a bit of shopping, and the USD was readily accepted. ATMs only dispense pesos - let your bank and credit card companies know your travel dates in order to avoid any "holds" being placed for foreign activity.

We felt safe travelling with cash - we had a fair amount as we were paying the balance of a pre-arranged excursion, but we split it between the two of us and made every effort not to "flash" it around. We kept money and anything of value secured in the room safe, and had no issues.

Enjoy your trip :)

Sheffield, United...
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5. Re: Exchange rate and money advice

Sorry to pip you Bob..... Bet you were too busy switching that Sunlamp on.....lol :))

London, United...
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6. Re: Exchange rate and money advice

Agree with Dummermum - worth getting that Halifax Clarity card as it has no charges and the rate on the ATM machines pound to pesos is usually OK + you would only need to take out what you actually need. ATMs will dispense pesos but IMO I prefer using the currency of the country I am visiting rather than dollars.

United Kingdom
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7. Re: Exchange rate and money advice

I concur what Dummermum and DomingoUK have said. I have been beating my gums about the Halifax Clarity Credit card for a long time now.

With the last withdrawal from an ATM I was given RD$71.9 to the GB Pound (£).

In the past 2 months I have withdrawn over £1500 and so far have only paid £2.92 in interest charges. This is by far a better proposition than using using my Barclays Visa debit card that charges me a 2.99 % flat fee for the privilege of withdrawing my own money and also to rub salt into the wound, gives me a very poor exchange rate.

I do this in every country I visit. In the US it would be around $1.67=£1.

Sheffield, United...
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8. Re: Exchange rate and money advice

Gunrunner,

It was indeed you that first put me on to this...... courtesy of your many informative posts on here.

That rate is better than I was getting before so my thanks and Bon Voyage for your homeward journey.

Drummermum

United Kingdom
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9. Re: Exchange rate and money advice

>>>and Bon Voyage for your homeward journey.<<<

Thanks. We have already booked our condo for 18th January to 18th March 2015. We need to keep the tan topped up:-))

Punta Cana...
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10. Re: Exchange rate and money advice

that's a good exchange rate you got, gunrunner.

71.9 pesos per british pound when the pound exchanges USD1.67.- means you received 43,05.- pesos per USDollar's worth, that's good.

the actual exchange at the bancas(exchange booths) is since a few days and for this weekend on 43.15.- pesos per USD.

as others mentioned above, do not exchange at hotels or the airport, it is a ripp off and you loose a very significant amount of your money's value.

the best spots are the local exchange booths, but of course only if your hotel is within walking distance of such, as the better exchange rate is not worth to pay a cabby or such. and you have to be aware about the day's exchange rate so a booth aside a hotel does not take advantage of your missing knowledge and may exchange less than it should be.

also very good exchange rates are received at the normal banks couters/cashiers, with Banco BHD beeing a slight bit better than Banco Popular here in PC. the Banks are only a very small bit below the exchange booths rates, if there is a bank near your hotel to go there without the use of a taxi, then you should use that venue.

in case you plan shopping at one of the bigger supermarkets and drive there anyways, like Super Pola, LLama or Nacional, with each of those supermarkets you will find a bank/several banks attached, so you can take advantage of your shopping tour and also exchange your money on the same ride.

Mike