money exchange/credit cards/atms: Cabarete

[zionlion02]

Hi all. Not to kiss everyone's butts too much, but thanks for all the info you guys put up here, it's extremely helpful to all the newbies and first time travelers to DR. I had a question regarding bringing cash down with me. Coming from US, going to Punta Goleta/Cabarete. I am so used to using ATMs at home, that i never really thought about how available they are abroad. Are there any atms in cabarete? and are they safe to use? Second question, how accepted are credit cards in cabarete? it seems to be a big toursit place so i figured they can be used pretty frequently, but wasnt sure. am staying AI, but will be going out to check out the towns and see and interact with the people, and will especially be joining in thte nightlife, hence the question about the credit cards and what not. basically my buddy and i were just trying to gauge how much cash we will need to bring with us, so this would help us with that. thanks again for all your help, i appreciate any responses!

[JanH]

You can do a Search for "ATMs" "travelers checks", etc., and get plenty of info; but when we come down, we never count on using credit/debit cards. Most establishments in the tourist towns are small/locally owned and they just take cash (pesos). Debit card used in an ATM may not be worth your while either because of US fees/exchange rates, etc.

You can exchange your money to pesos in Cabarete. There are plenty of places to do it.

Not knowing what you specifically want to do in a week, can't guess how much money you'll need.

[ricktoronto]

Originally Posted by zionlion02

Hi all. Not to kiss everyone's butts too much, but thanks for all the info you guys put up here, it's extremely helpful to all the newbies and first time travelers to DR. I had a question regarding bringing cash down with me. Coming from US, going to Punta Goleta/Cabarete. I am so used to using ATMs at home, that i never really thought about how available they are abroad. Are there any atms in cabarete? and are they safe to use? Second question, how accepted are credit cards in cabarete? it seems to be a big toursit place so i figured they can be used pretty frequently, but wasnt sure. am staying AI, but will be going out to check out the towns and see and interact with the people, and will especially be joining in thte nightlife, hence the question about the credit cards and what not. basically my buddy and i were just trying to gauge how much cash we will need to bring with us, so this would help us with that. thanks again for all your help, i appreciate any responses!

......bring cash and lock it up in the in room safe with your passport and tickets. Change only US$50 or so at once which will give you about RD$2500 at a time. For a week I doubt you'd need even $100 a day, so why bother with ATM's and travelers checks etc. for $500 or so? It is not that unsafe, really. And drinking is quite cheap, , probaly less than US$1 a drink so a little bit of pesos goes a long way.

If you go on the hokey tours they make take Visa and that's usually a good deal as long s they don't gouge you on the rate if they price in US$ normally.

[Rontec]

rick, would you say the exchange rate (USD --> Peso) is better in Toronto or in the DR?

[Fiesta Mama]

Last time I went to the DR it was just for a weekend so I didn't want to waste time while I was there exchanging money so I went to the American Express Exchange at King & Yonge (in downtown Toronto) ... BIG MISTAKE. I paid a ridiculous exchange rate, getting about half of what I would have got in the DR. Take U.S. $$ with you and exchange it at a bank there.

[Ken]

Cabarete exchange rate usually a couple of points below that in Sosua.

Generally not a good idea to change money in a hotel because their rate is usually less than that at an exchange bank. There are lots of these bancos de cambio on the main street of Cabarete. Check the rates of a few before deciding which one you will use. Rates often vary by a point or two between bancos de cambio.

Don't change withe guys on the street or beach with a pocket calculator in one hand and a wad of pesos in the other. Too much chance of being cheated.

[ricktoronto]

Originally Posted by Rontec

rick, would you say the exchange rate (USD --> Peso) is better in Toronto or in the DR?

NEVER buy pesos here before you leave. NEVER. Horrible rate and there are fees too. You can get what you need either at the airport on arrival, and you won't need them there anyway, or when you get settled. Take a few US$1's if you like if you feel like tipping, a dollar here or there is like RD$50 .

To be clear : NEVER NEVER NEVER NEVER NEVER here, OK?

[zionlion02]

Hey thanks very much for the help, as i said before you guys are always very informative. one more follow up (or two i guess). Dont buy from the guys with the wads of pesos and calculators, gotcha. are the legit banco de cambios more like a stand or a store front? Second, do the banco de cambios exchange travellers checks for pesos? never used em before, so i am just trying to get a feel for how it all works. thanks again

[Ken]

Bancos de cambio have an office location. They are not standing on the street. Yes to travelers checks.

[zionlion02]

Thanks again for the fast replies everyone. I have to say i am glad i found this forum! countdown is 11 days, cant wait..