Answers
What charges are associated with travelers cheques?
None, although when you buy them there may be a fee of 1%. Sometimes with premium banking packages or through AAA or other associations you can buy them without commission.
Do the exchange houses or banks charge a fee?
Cambios don't - at least I haven't paid for this nor would I agree to - in fact you "may" get more RD$ than for cash. You should.
Can you only get Dominican pesos in exchange or can you get U.S. dollars? For example, I have a $100 travelers cheque but only want to change $20 into pesos, will they give me the remaining $80 in U.S. dollars?
Nope. Not likely. If you want US$ cash, bring some down with you. Or bring smaller travelers cheques like $20's and $50's not $100's - there is not much purpose in bringing the cheques and then turning them into US cash when you really buy everything in RD$ pesos. Just like the US there is not a lot of mileage out of US$20 converted to pesos.
You can always ask them for US$ but it is mostly a one way business.
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