Question on currency

Hi Guys,

We will be arriving in Las Terrenas on February 8th. We are Canadian and was wondering what is the best way to purchase items in Las Terrenas and the surrounding areas? Would it be best to convert our Canadian cash to $US before leaving Canada? Should be bring all our cash with us or leave it in the bank and withdraw it there and if so, at what bank/teller machine would be best to do this?

Best way to manage credit cards?

Do they accept Dominican Dollars in local grocery stores and shops/restaurants, or $US. Cash or debit? For every $1,000 of US cash we purchase here it's $1,400 Canadian, so the exchange rate is significant for us.

What is the tipping policy like on the island. We were there in 2011, but wouldn't mind a refresher as things change!

Thanks very much!

Tappers

Where to start....  do not bring Canadian money, you will get a lousy exchange rate for it. Only bring some in US.   You can use your ATM card at the bank machines here,  be careful,  remember there will be fees.  But you will get a reasonable exchange rate this way.  I dont know where the machine are, sorry.

Yes you can use your credit cards here, just do it carefully. Keep the receipts in case of issues back home,  check your bills!   AND  dont pay with US dollars, they will rip you off on the exchange rate almost everywhere.  Use Dominican Pesos.

Tipping -  restaurants who give you a "legal" receipt include a 10% government mandated tip (propina).  Add another  10% if you got service.  IF no legal receipt tip 10 to 20% if you got service.   

Hotel -  US 1 to 2 a day for housekeeping.   Luggage -  2 to 5 per piece of luggage (depends on size, weight and distance)   Taxi - most drivers own the taxi so no need to tip.   

Excursions -  always take cash for the people who are on the bus,  catamaran,  truck etc etc.   Don't take candy for the kids,  take school supplies!  Hand it directly to them,  don't throw anything off the back of a truck, bus or van. 

Remember to notify your bank and credit card company prior to travelling!

All great info from Planner.  I would only add NEVER let your credit card out of your sight. If they don't have a reader that they bring to you, then follow your card.

Bob K

GOOD point Bob!

Planner, you're a wealth of information, I think that's answered all my questions, thanks very much!! Merry Christmas by the way!

Planner, one more question. Should we bring $US and then go to a bank and get them converted over to Dominican Pesos at that time, or get our bank here in Canada to provide us with them? Any idea what the exchange rate is, or would it be best to compare the rates between here and Las Terrenas before deciding?

Thanks.

For many months the peso hasremained very stable. It is for all practical puposes 45 pesos to the US d.  Do the math to convert Canadian to US & you will know the going rate.  There are many sites that keep track current up to date exchange rtes for many different countries.  Goggle for them & a plethora show up.  It is free!. Save youself a lot of time.  Change at a DR bank, the safest, safest way.  Have fun & don't complicateit more than necessary.

Very interesting, thanks Gypsy!!

Most will convert to USD or use the local ATMs for pesos. Since you are going to be here for a month you will need to conduct your business in pesos.  You will get killed on the exchange rate if using CD, exchanging at home, hotel or airport.

Current USD exchange rate is about 45.4 Pesos to the dollar.

Bob K

If your not fearful of money transfers...we've been using xoom (now owned by paypal...so take that for what it's worth...) and transfering to Caribe Express...getting a great exchange rate...and they have many locations.  At first we were a bit leary of transferring for cash pick up, but after having done the bank deposit route and the cash pick up...we will always do the cash pick up.  Send it to ourselves just before leaving and pick it up when we arrive....if you time it right...give yourself ~8 days notice...and wire from your bank account it only costs $5!  If you are strapped for cash in large amounts (larger than the ATM will allow) then the credit card transfer costs $75!  ...but, in a pinch sometimes there's no choice...and that's how they getchya!  Not sure if others have gone this route...just putting in my 2 cents...

Hi Brodies, good advice, I haven't considered  this route before, we will give it consideration, thanks.