Personal Checks

[MSPC06]

Can I cash a personal check in Bavaro? if so where....
thank you..I have a personal check written in dollars. Where can I get the check cash and if I will get it in dollars

[MikeFisher]

my own experiences with US$ checks are following 2 variations:
* on my company's name i.e. for payment of services provided to an touroperator i have to deposit that check on the company's bank account, will be billed in US$.
* US$ check written in my name signed by a customer for a rest payment of services because of trouble with his credit card, in that case i went to my housebank BHD in bavaro and been told that the "approval" of the checks authenticy will take several days, then i would be able to cash it in US cash, so what i did was i deposited it o my private US$ account on a tuesday and the same week on friday the amount of money been added to my account. in that case i trusted the customer who is a regular of mine, but i could not get it cashed right away.

hey guys, where are the bordmembers who always ship a lot of $$$ throu the island, let's here the experiences, would be interested in that myself.
Mike

[cobraboy]

I write checks for whatever amount I want at a local cambio. They will even take 3rd party checks. The rate is usually .05-.10 greater than the prevailing for larger amounts, greater than US$1000.

The checks take 7-10 days to clear my U.S. bank.

I suspect there would be hell to pay if one ever bounced.

Develop a relationship with a good cambio and your financial life in the DR gets a little easier.

[MikeFisher]

right on that Cobra,
but i assume that the OP still is a bit far from such relations, ha ha.
they know you and your checks are good for them, that's tjhe way it is.
but for the OP i don't think he get's one cashed without depositing it to an account and wit til clearance.
Mike

[MSPC06]

Ok,
Thank you.

However, lets say I am from the US and I gave a personal check to a dominican friend so I am assuming he has a bank account.

So he can bring it to any local cambio and they will tell him that it can take days to clear and then once it clears the bank, then he gets the money in dollars.

Thanks for checking.

MSPC06

[cobraboy]

Originally Posted by MSPC06

Ok,
Thank you.

However, lets say I am from the US and I gave a personal check to a dominican friend so I am assuming he has a bank account.

So he can bring it to any local cambio and they will tell him that it can take days to clear and then once it clears the bank, then he gets the money in dollars.

Thanks for checking.

MSPC06

Maybe not. If the cambio knows him and he has a stellar reputation, he'll get the cash on the spot.