subject: Know The Best Ways To Make A Money Transfer To The Dominican Republic Before You Visit [print this page] This country has its own peso that is only available once you arrive, so do not plan to exchange cash until you get there. The Central Bank must approve official money changers, so be sure to only go to hotels and banks that can prove they are authorized to exchange your U.S. dollars for the Dominican peso. Before you change all your money, know that some resorts and street vendors do accept American dollars, as well. However, do not be afraid to change large amounts to the peso since about 30 percent of the money you exchange can be converted back to U.S. dollars once you leave the country, as long as you show the receipt. Know that $1 USD equals about 37 Dominican pesos.
You can bring traveler's checks to use in this country, but they should be only in U.S. dollars to get the best rate. They can be cashed at most banks and casas de cambios throughout the country. You should remember to keep any receipts when you use this way to make a money transfer to Dominican Republic.
Like most countries, Dominican Republic is a great place to use a prepaid debit card since there are ATMs in abundance. Most ATMs will allow you to withdraw up to $300 USD per day, so prepare for this limit before you go. You can bring in cash to exchange to pesos, or you can just wait until you find an ATM and get money out. MasterCard, Visa, and American Express are all accepted at most ATMs. If you have trouble finding ATMs in this country, you can go to banks like Banco Popular, ScotiaBank, and Banco de Progreso since they likely all have ATMs attached. You may also be able to use your card to purchase items at large stores and major hotels, but you cannot count on this.
You may choose to simply use cash in this country, since it is accepted everywhere. However, some people do not like carrying around large amounts, so bringing a combination of traveler's checks and a prepaid debit card may also be advisable. This way, you should always be able to pay, no matter what area of this nation you are in.
by: Peter Frampton
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