money transfer service for the Domincna Republic

chola1978

Bronze
Mar 20, 2006
770
16
0
I have used money transfer service for over 10 years now. I had to send money couple of times a weeks when my home was in construction. i like to see if we start to rank the best money transfer companies for sending money to the Dominican republic
I will start with a few a few please add o the list and contribute to this thread I think ill help out.
Dollex
envios Boya
CAM
Quisqueyana
Moeny Gram
Western Union
Zoom.com
Ikobo.com
ACCE
Remesas Dominicanas
 

pfokas

New member
Jun 16, 2007
7
0
0
Sending money through western union for 100 dollars sent as pesos cost 3.99 which is the same as servicash.com
 

rellosk

Silver
Mar 18, 2002
4,169
58
48
Sending money through western union for 100 dollars sent as pesos cost 3.99 which is the same as servicash.com
Thier fee seems to depend on which State you send the moeny from. For NJ the fee is $20. Also, their exchange rate is about 3% less than servicash.
 

pfokas

New member
Jun 16, 2007
7
0
0
The following order was sent with Western Union on June 20 by me. Do you think any of the other money transfer services would give me a better deal? If so I would be interested as I am sure all of us want the best deal.

Date of Order: 06/20/2007
Amount Sent: $100.00
Money Transfer Fee: $3.99
Total Amount: $103.99

Exchange rate* 1 USD = 30.4700964 DOP
Local currency pay out = 3047.01 DOP
 
Feb 7, 2007
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Xoom:

http://www.xoom.com

same service fee (4 USD =vs= 3.99 USD), but receive more pesos

Sending: USD 100.00
Receiving: RD$ 3,135.31

Service Fee USD Cost
Standard $4.00 $104.00

Fee is 4 USD for online sending with a credit card
 
Feb 7, 2007
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Envios Boya

www.enviosboya.com

service fee 6.25 USD (more than Xoom), receive same pesos as with Xoom (better exchnage rate), total cost virtually same

exchange rate USD=pesos= 1.00 : 32.00

3,135 pesos (as with Xoom) = 98 USD (to send)

98 USD + 6.25 service fee (using online sending with credit card) = US$104.25
 
Last edited:
Feb 7, 2007
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Moneygram service:

Country Sending From : UNITED STATES
Country Sending To : DOMINICAN REPUBLIC
Service : 10 Minute Service
Send Amount : 100.00 US DOLLAR
Fee Amount : 4.99 US DOLLAR
Total Amount : 104.99 US DOLLAR
Receive Amount : 3,138.91 DOMINICAN PESO

Estimated exchange rate : 1 US DOLLAR = 31.389051 DOMINICAN PESO

Virtually same money as Xoom / Boya
1 Dollar more service fee. Can go to local Moneygram location to send



Now, if you send 99 dollars, with Moneygram you still get more Money than with Western Union, but your total cost is same as WU.

Country Sending From : UNITED STATES
Country Sending To : DOMINICAN REPUBLIC
Service : 10 Minute Service
Send Amount : 99.00 US DOLLAR
Fee Amount : 4.98 US DOLLAR
Total Amount : 103.98 US DOLLAR
Receive Amount : 3,107.52 DOMINICAN PESO


Estimated exchange rate : 1 US DOLLAR = 31.389051 DOMINICAN PESO
 
Feb 7, 2007
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Servicash (Banco Popular) uses the same underlying provider/processor as Envios Boya (just see the "send form" to see it's a clone) but their fees are more than Envios Boya and their exchnage rate (payout rate) is less than Boya's. Recommend: Boya instead of Servicash.
 
Feb 7, 2007
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Also, there is CashPin

www.cashpin.com

but it's the most expensive of all (even more expensive than WU!!!)

Cantidad a Recibir en D?lares: $100.00
Cantidad a Recibir en dominican republic peso : $3,190.00
Tipo de cambio: $31.90
Cargos de Transferencia: $10.50
Cobro Total: $110.50

So, to receive same money as with WU (3047 pesos)

Cantidad a Recibir en D?lares: $95.50
Cantidad a Recibir en dominican republic peso : $3,046.45
Tipo de cambio: $31.90
Cargos de Transferencia: $10.28
Cobro Total: $105.78

More expensive than WU!
 
Feb 7, 2007
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So, in the order of convenience:

Calculated to the same payout amount, displaying corresponding service fee and the total amount required (base + fee) to send the designated payout amount

Agency===Money received==Fee=====Total

XOOM======3135=====US$4.00===US$104.00
BOYA=======3135====US$6.25===US$104.25
MONEYGRAM==3135====US$4.99===US$104.87
WEST. UNION=3135====US$3.99===US$106.80
CASHPIN=====3135===US$10.42===US$108.70
SERVICASH===3135====US$9.00===US$109.00
 

kjdrga

New member
Mar 25, 2002
424
5
0
we use serivcash usd bank account to usd banco poluar account and as stated above the fee is $9. Wester Union here is VA/DC charges about 13-15$usd for $100 and you have to fill out all the paperwork and then someone on the other end has to go and do the same, vs bank to bank.

With services like Xoom and boya where do they receive the money?
 
Sep 19, 2005
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I send through a local dominican store near my work, they have an affiliate in Moca. I think it is Quisqueyana....if it isnt the same company its name it very close.

they charge me $6 to send $100, and MY gf gets dollars. she can exchange were she wants, but usually does it right at their store, and gets very good rates, as good as i try to get in santiago....now its is about 33.5.....

bob
 

sweetdbt

Bronze
Sep 17, 2004
1,574
70
0
While I am not a big fan of Western Union, it should be noted that they offer the convenience of sending $ online from the convenience of home. If you are sending to the same person repeatedly, the data is saved and it is VERY easy/fast. Charged to credit card of course.