ATMs in Punta Cana: Everything You Need to Know About Withdrawing Money
If you're planning a trip to Punta Cana, it’s essential to think about how you'll manage your money while you're there. Although many places accept credit and debit cards, you will likely need cash at some point. Here’s everything you need to know about ATMs in Punta Cana, how to withdraw money, the fees you might encounter, and some helpful tips to avoid unnecessary charges.
The Currency in Punta Cana: Dominican Pesos
The official currency of the Dominican Republic is the Dominican Peso (DOP). While some tourist areas may accept US dollars, especially in resorts and large stores, most local businesses, markets, and services prefer or only accept Dominican pesos. Therefore, it’s crucial to have some local currency on hand during your stay.
Withdrawing Money in Punta Cana
If you need to withdraw money in Punta Cana, you’ll find a variety of banks and ATMs that allow transactions with international cards, both debit and credit. When you withdraw money, the ATMs will dispense Dominican pesos, the country’s official currency and the most widely accepted.
Some of the banks where you can find ATMs that allow international card withdrawals include:
Banesco
Banco Popular
Banco BHD León
Scotiabank
These banks have ATMs located in tourist and commercial areas around Punta Cana, making it easy to access cash when needed. However, it’s important to be aware that many local banks charge fees for ATM withdrawals, and these fees can vary significantly.
ATM Withdrawal Fees
It’s common for banks in Punta Cana to charge a withdrawal fee when using an international card. These fees typically range from 8% to 10% of the amount withdrawn, which can add up quickly, especially if you plan to make several withdrawals during your trip.
To avoid surprises, it’s a good idea to check with your bank before you travel. Some international financial institutions have agreements with local banks that could reduce or waive these fees.
Should You Bring Cash?
Given the high fees that some banks charge for ATM withdrawals, one practical recommendation is to bring enough cash from your home country. If you bring US dollars, you can easily exchange them for Dominican pesos at currency exchange offices, allowing you to avoid the hefty ATM withdrawal fees.
Benefits of bringing cash:
Avoid ATM fees:
By bringing cash, you can avoid the 8% to 10% fees often charged by local ATMs for each transaction.
Flexibility:
You can exchange your money at currency exchange offices or the airport, ensuring you have Dominican pesos right from the start of your trip.
Less dependence on ATMs:
Having cash on hand reduces your need to search for ATMs, giving you more peace of mind during your stay.
Helpful Tips for Withdrawing Money in Punta Cana
Check with your bank:
Before traveling, confirm with your bank the fees that may apply when using ATMs abroad and if they have any partnerships with Dominican banks that could reduce fees.
Daily withdrawal limit:
Many ATMs in Punta Cana have a daily withdrawal limit. Be sure to plan your withdrawals accordingly to avoid issues.
ATM safety:
Use ATMs located in secure areas, such as shopping malls or inside banks, and avoid using machines located on the street or in poorly lit areas.
Conclusion
Withdrawing money in Punta Cana is easy thanks to the availability of ATMs in various locations. However, it’s important to be aware of the ATM withdrawal fees, which can range from 8% to 10% at some banks. To avoid these costs, it’s advisable to bring enough cash from your home country and exchange it for Dominican pesos upon arrival. This will help you enjoy your stay in Punta Cana without worrying about unnecessary fees.
