Travel Reference
In-Depth Information
Money
The Dominican monetary unit is the peso, indicated by the symbol RD$ (or sometimes just R$). Though the
peso is technically divided into 100 centavos (cents), prices are usually rounded to the nearest peso. There
are one- and five-peso coins, while paper money comes in denominations of 10, 20, 50, 100, 500, 1000 and
2000 pesos. Many tourist-related businesses, including most midrange and top-end hotels, list prices in US
dollars, but accept pesos at the going exchange rate.
ATMs
ATMs
(cajeros automáticos)
are common in the Dominican Republic and are, without question, the best
way to obtain Dominican pesos and manage your money. Banks with reliable ATMs include Banco Popular,
Banco Progreso, BanReservas, Banco León and Scotiabank. Most charge ATM fees (around RD$115 on av-
erage); it's worth checking with your domestic bank before you travel whether there are additional fees on
their end. And there's a range of frustratingly low maximum withdrawal limits - BanReservas is RD$2000
and Banco Progreso RD$4000 - and limits to the number of withdrawls per day.
As in any country, be smart about where and when you withdraw cash. Most ATMs are not in the bank it-
self, but in a small booth accessible from the street (and thus available 24 hours).
Credit Cards
Credit and debit cards are more and more common among Dominicans (and more widely accepted for use
by foreigners). Visa and MasterCard are more common than Amex but most cards are accepted in areas fre-
quented by tourists. Some but not all businesses add a surcharge for credit-card purchases (typically 16%) -
the federal policy of withdrawing sales tax directly from credit-card transactions means merchants will
simply add the cost directly to the bill. We've had reports of travelers being excessively overcharged when
paying by credit card so always check the bill before signing.
Moneychangers
Moneychangers will approach you in a number of tourist centers. They are unlikely to be aggressive. You
will get equally favorable rates, however, and a securer transaction, at an ATM, a bank or an exchange office
(cambio)
.
Post
Mail service in the DR can't be relied upon, no doubt in part because mailing addresses are nonexistent in
much of the country. It can take as long as a month for a letter to arrive from the US. Your best bet is FedEx
or UPS; within the country, use either Caribe Pack or Metro PAC, each bus company's own package deliv-
ery entity is located in their respective terminals.
