Xoom, I think 4.99 for up to 2,500.00 is what I used in the past. Haven't tried WU but wil give it a try at that price
- Thread starter mike l
- Start date
Western Union In Sosua?
We use it to send cash for our monthly DR home/staff/dog expenses. *It's $4.99 up to $2999.00 I believe, if your money comes from bank account. *Higher if you use credit card. Exchange rate isn't great either, but it goes straight into bank there so it's easy and convenient for us and the recipient.*
I compared WU, Xoom and MoneyGram for the commission they charge from US to DR and it depends on if you receive USD or DOP and if you do a bank transfer or pay by debit or credit card, online, or pay cash at their branch.
I found the cheapest for receiving USD cash was MoneyGram if you pay cash at their branch, $1000 costs $8, 0.8% (different amounts cost slightly different percentages, not always 0.8).
If you receive DOP it's a lot less, but before getting excited check the exchange rates they use, it is not favourable (like mentioned earlier).
I didn't think they can just refuse to pay USD if the transfer was set up to send USD cash, I don't know, but you could refuse receiving it and go back to WU and complain... !
I found the cheapest for receiving USD cash was MoneyGram if you pay cash at their branch, $1000 costs $8, 0.8% (different amounts cost slightly different percentages, not always 0.8).
If you receive DOP it's a lot less, but before getting excited check the exchange rates they use, it is not favourable (like mentioned earlier).
I didn't think they can just refuse to pay USD if the transfer was set up to send USD cash, I don't know, but you could refuse receiving it and go back to WU and complain... !
I just got a bit curious with mention of Xoom here twice, so I checked again just now, for USD to DOP they charge $4.99 but the exchange rate is 44.75, that is about 3% lower than current 46.15 that you can get changing USD cash. so $35 total for $1000 (3.5%).
Dont know about US stuff, but in europe Ria and Rio transfer are the ones I use. 5chf to send up to 2k chf a pop delivered to your front door in the dr.
Also every 5th transfer is free.
They use diffrent " recipients" *in the dr, hence you choose the best daily exchange rate.
That sounds good, but that's for it being received/picked up in pesos. They zing you on the exchange rate. You have to compare apples to apples. WU charges $8 to send $800 USD. Xoom charges $16.99.
This is interesting, this site riamoneytransfer.com do offer US money transfer and says they deliver USD for Cash Pickup and if the money is transferred to them via bank it will cost only $2 for $2999 transfer, let's see if anyone has any experience with them for $ transfer...let us know !? (they have pickup at Banreservas and Caribe Express)
I use them often. Swiss francs and I recieve them in the dr, at home in pesos, at a good rate. Much better rate than changing swiss francs here.
I have used them, only a couple of times though, to get swiss francs in the dr ( *if I am planning a holiday in the US for example ).
Note also, I do it in the old fashion way, in cash. But you can do with a ctedit/debit card.
Is there any pickup fee charged by the paying agent? Kind of hard to see how it's worth their time and effort if they're splitting a $2 fee with Ria(?).
Yeah its crazy !! Even at 5 swiss francs ( in my case ) u wonder how they make their money. Especially since the exchange rates are good.
I have no idea, I just called them for more info, they said their online service is only for the US, you also have to be physically there to be able to register on their website - otherwise it does not work, say from DR or UK etc. (I might try to get around that with a VPN and give them a try, will also ask Banreservas to confirm no pick up charges).
Looking at their exchange rate they take about 2% on that...not bad. But better receiving USD cash.
And , no, no fee when brought tomfront door. Except a beer from time time
That's truly amazing. I don't know how they can pay for a car, driver, and gas and make a profit on one dollar(?)!!!
Why would that be better than taking USD? You could save yourself $20 and go to CaribeTour and exchange for pesos there.
I stopped by Banreservas and asked about Ria. They only pay in pesos - not USD. This is how they make their money - on the exchange rate difference. Basically, you are paying $22 to send $1000 from the US to the DR. Not sure about other locations(?), but I'll bet they only pay in pesos, too.
Actually after reviewing reciepts, its with*via express that I sent myself swiss francs to the dr. Same sort of stuff as Ria, same price, free home delivery, etc....
But you got paid in pesos, right? How big of a hit did you take on the exchange rate?