Travellers Cheques

[palmtree]

I am trying to decide whether to bring Visa Travellers Cheques or just U.S. Cash. Does anyone have any information about the use of travellers cheques in the DR? Are they widely accepted? Any information would be greatly appreciated.

[tired_boy]

Hi, are you staying in a hotel? What area?

You are ok with travellers cheques or cash generally, take a bit of both. I generally take the majority in travellers cheques for the obvious reasons - if you lose your travellers cheques there is something you can do about it!

Have a good time!

[palmtree]

Thanks for the info about the travellers cheques. I will be staying at the Cabarete Bay Hotel.

[Ken]

Don't change money at the hotel. Hotels always give a lower rate than do the bancos de cambio.

There are a number of bancos de cambio on the main street within very easy walking distance of the hotel. Check 3 or 4 of them before deciding where to change money. My brother and his family changed money in Cabarete Sunday. I noticed that there was at least a 1.5 peso difference between the best and next best rate being offered at that time.

[tired_boy]

It makes quite a difference if you are changing your money at the hotel compared to outside it. When we went last time it was maybe 3 or 4 pesos (to the pound) better to do it outside the hotel.

The best thing to do is have an ask around first, don't change money at the first place you go to. The hotel might be best if you are in a situation late at night but the best rate is outside it!

[ricktoronto]

Originally posted by palmtree
I am trying to decide whether to bring Visa Travellers Cheques or just U.S. Cash. Does anyone have any information about the use of travellers cheques in the DR? Are they widely accepted? Any information would be greatly appreciated.

I do this on occasion, usually AMEX not Visa. The cambio the first time or 2 will want your passport (after which go right back to the hotel and put it back in the safe).

I subsequently use a photocopy (in colour) of my passport and that suffices, if they continue to ask at all, which they won't when they start to recognize you.

Carry only the copy of the passport as normal ID as you walk around too. you are not likely to be asked ever by the PN or Politur but it is useful to have as ID.

[Harpua]

Usually when I travel overseas, I find the best exchange rate is offered through the ATM.

Does this hold in the case of DR?

[ricktoronto]

Originally posted by Harpua
Usually when I travel overseas, I find the best exchange rate is offered through the ATM.

Does this hold in the case of DR?

Some people have reported quite satisfying rates, others have noted the following issues:

1. Lack of ATM's
2. Service fees often at both ends, negating savings and then some
3. PIN's not working
4. Cards not being returned
5. Fear of being mugged
6. Limited amounts per transaction or per day, e..g RD$2000 or so.


Frankly, I would not rely on an ATM card as my sole means of obtaining cash there for such reasons.

Visa/MC are a backup - you can get cash advances with ID at banks, at the cost of usually a fee from the issuing bank and of course interest unless you prepay the card to a credit balance.

[travelbug]

Be sure to change some traveler's cheques at the airport for pesos if you dont' have cash. taxis, bus fare etc... maybe it's something you already thought of, but I'm going in a few weeks and almost forgot this tidbit.

Have fun!