[Chip]

Originally Posted by richardmci

Doesn't this situation argue for getting a local bank account and local debit cards? I understand from earlier postings in connection with Bank Leon, ScotiaBank, Banresrvas, etc, that you can get prepaid debit cards from local banks, and/or use a debit card associated with a peso account where you keep a low peso balance. Why would anyone spending serious time in DR be using credit or debit cards from a foreign bank where you keep your main accounts?

You would keep most of your dinero in a dollar account at a DR bank, and transfer to the peso account only as needed. You then ONLY use a debit/ ATM card associated with your peso account. You NEVER use a card associated with either your local dollar account, or worse, your main account in a foreign currency (e.g. USD) back in your home country.

So, if these card frauds do originate as an inside job (inside VISA or mastercard) that is targeted at extranjeros, then you're safe because you've gone local with your cards. And if a fraud happens to you as a local, then you have minimized your exposure and can replace the cards easily at the local issuing bank. Your foreign accounts, and all the automatic debits tied to it, have not been disrupted, and you don't need to be calling back to your home country for replacement cards.

comments?

richard
(newby trying to do his homework on DR1 )

Suuuuurrrrre!!!, how do you get your money from your US bank accounts to your Dominican accounts when a wire transfer requires one to be present in the States - and obviously you can't because you live the DR.