Cash (USD / EUR) vs. Credit Card

[DomRepper]

Dear all!

I'm planing to travel around by car quite a bit. I want so stay a couple of days in a few cities like, Santo Domingo, Santiago, Puerto Plata, La Romana, Boca Chica, ...

What do you recomand me concerning money and payment? Do you think it's good to bring most of the money cash? If so, which Currency is better? EURO or Dollar?

What about using ATM's of major banks? Is it safe? Are fees from the Dominican Banks expensive?

I heard about problems with copied credit cards... Do you think it's better to pay hotels in cash?

Thank you very much.
Domr.

[drloca]

Limit your credit card use to "emergencies only". I for one have never had a probelm using mine in DR, but very rarely do I use it.

Keep a reasonable amount of cash with you and withdraw from the atm's as needed. (I still think this is worthwhile even incurring a $5 service chargeper transaction).

This too will depend on safe storage of your money as you will be on the road.

It is really hard to advise as each persons requirements are different . You could also search the forums as this topic has been fairly extensively covered.

[Black Dog]

I would agree with drloca, sensible advice imho! Enjoy the trip

[caipiranha]

Originally Posted by DomRepper

What do you recomand me concerning money and payment? Do you think it's good to bring most of the money cash?

No. You´ll travel around. Credit card, bankcard, some cash. And TRAVELLER CHECKS.

Originally Posted by DomRepper

If so, which Currency is better? EURO or Dollar?

For a change into Pesos I always bring Euros , actually the Euro is strong, and you´ll save the changing fee Euro – Dollar. But I take lots of 1$-notes with me, to leave as a tip for a waiter or a roommaid.

[QUOTE=DomRepper;790221] What about using ATM's of major banks? Is it safe? Are fees from the Dominican Banks expensive? [QUOTE=DomRepper;790221]

If you use the ATM during business hours of the bank, queueing behind some other people you should´t have problems. At Las Terrenas/Samana Dominican fee was small, but my homebank robbed me out…

Originally Posted by DomRepper

I heard about problems with copied credit cards... Do you think it's better to pay hotels in cash?

If you always watch your credit card, you won´t have any difficulties.

Have a nice trip! (Sorry for my bad English)

[Bob K]

First of all DO NOT BRING TRAVELERS CHECKS. They are hard to cash many times and you will get killed on fees and rates.

Use your ATM and if possible use and ATM that is attached to a bank so incase there is a probelm the bank may (hopefully) will be able to help.

Also let your bank back home that handles your ATM and credit cards know that you are traveling to the DR. If you don't they most likely will put a freeze on the card after the first use or two fearing fraud.

Have a great trip

Bob K

[caipiranha]

Originally Posted by Bob K

First of all DO NOT BRING TRAVELERS CHECKS. They are hard to cash many times and you will get killed on fees and rates. Bob K

You´re right, traveller checks ARE expensive – the fees my homebank ( but in normal business it´s really cheap) takes for ATM-use outside the EU, are expensive, too.

I never had problems when changing my checks by a Dom. bank.

Of course I prefer paying my bills by credit card (no fee for foreign currencies).

But when I need cash money? ATM – traveller check? For me the fees are nearly the same. My security is very important for me, so I don´t think about a 20€-fee for traveller checks, that´s really “peanuts” – reguarding the price I´ve to pay in Europe for my Dominican holidays.

Saludos