Bringing Cash to the Rock

[syntrik]

I'm coming to Dominica in about a week for the May '08 term, and I was wondering how much cash should I bring to the island with me.

When I pay rent, should I do be doing it in US? If so cash, check, debit, credit - what's the standard?

Should I be setting up a bank account before I come? If so how would I do that.

Just wondering how much I need to bring to make sure everything is covered.

[DEQNY85]

It may depend on your preference. Also, rent payments depend on whether or not your location accepts US money, EC or credit card (PBH takes VISA). As far as a bank account, having one in the states will allow you to wire transfer money back to your US account from a Dominican account(for me its BOA and it takes like 2 hours). Bring some money to survive the first few weeks as you don't get your check right away. Plan accordingly for rent, downpayment, food etc.

[ILPsychDoc]

Bring 2000$ in travelers checks... you can cash them at the bank when you open your account... also bring some cash in case you come in at night... they have two atms on campus if you need them...

[DBP]

I bought about $3000 with me and am going through it quite quickly. I've already spent $1500 just on the apartment and the security deposit. Some of it I've spent on buying things for the apartment, and the others on food. I have quite a bit left but I would also have a debit card so you can withdraw money from your account in the States.

[DEQNY85]

You should try to get EC as soon as possible because buying with dollars becomes (comparatively) more expensive. [1 US dollar = about 2.67 EC]

[Sideswipe]

I'm coming to Dominica in about a week for the May '08 term, and I was wondering how much cash should I bring to the island with me.

When I pay rent, should I do be doing it in US? If so cash, check, debit, credit - what's the standard?

Should I be setting up a bank account before I come? If so how would I do that.

Just wondering how much I need to bring to make sure everything is covered.

When you get here, the weekend before classes start, you will get your financial aid check from Ross. Everyone creates an account here with the national bank here - National Bank of Dominica. Create an account and deposit your check in that account.

I would only bring enough money to keep you going for maybe that first week. Maybe $ 250 - $ 500 US.

I am not sure how other apartments work, but reputable apartments usually only take checks. Again, these can be acquired from the national bank.

[Sideswipe]

You should try to get EC as soon as possible because buying with dollars becomes (comparatively) more expensive. [1 US dollar = about 2.67 EC]

Not anymore. I think the exchange rate has changed. Its different.

[Sizzzurp]

Not anymore. I think the exchange rate has changed. Its different.

US Dollar is going down.

[DEQNY85]

Not anymore. I think the exchange rate has changed. Its different.

Scared me for a sec......the dollar is still strong on Dominica...... as of today (buying) 1 US dollar = 2.6882 Eastern Caribbean Central Bank Daily Exchange Rates (http://www.eccb-centralbank.org/Currency/exchange.asp#exchangerates)

[akwasiatta]

Are you able to transfer money into a US acct. from the National Bank of Dominica? or better yet, are u able to deposit ur refund check directly into a US acct from dominica?

[syntrik]

You can transfer money back and forth, and it's a whole lot easier if you're Bank of America or CitiBank the affiliates of the National Bank of Dominica. For them all you need is a the SWIFT number of the National Bank of Dominica, and your account numbers and you're good to go.