Which one have you found is the cheapest? I just checked Transferwise. If I send $4000 down here, they'll charge me $34.50, so I'll sane $0.50. They only send you pesos and I'd rather receive the money in USD. Not worth it for me.
- Thread starter chico bill
- Start date
Wire Transfers becoming problematic
I have a bank wire transfer from a US bank to Banco Popular that has been stuck at the intermediary bank - Bank of America - for three days now.
Check out Remitly or WorldRemit. Remtly has a relationship with all the banks (except BSC)
May be there in limbo forever. Call B or A - they are the ones who told me of the Dodd-Frank rules
Remitly wil charge me $45.95 to transfer $4000 - even more than Transferwise, and they only send pesos, and the chart didn't show me how many pesos I'd receive. I don't like surprises. I couldn't connect to WorldRemit, but I read they charge a flat fee plus a commission on the exchange rate. Not good. Thery also only send pesos.
Thanks. My bank is doing an "investigation." And will let me know what B
Thanks. I will post what happens. My bank is doing an "investigation." They have a wire transfer department. They will let me know what B of A says. I hope I don't have to contact B of A myself. Although it sounds like they gave you good info.
They are not quick to answer. And I have not been able to get any customer service out of Schwab
Thanks for the feedback. How many days did it take for the money to arrive to the DR account?
Could you name a few?
Xoom, isn't cheaper and the exchange sucks
Remitly, same thing as Xoom
Checked out Transferwise and not much of a difference then these two above neither.
Hi, Wire transfer was done today, I will update when it clears in DR. Thanks
As far as wire transfers go, the Dodd-Frank rules are no big deal. They just require that the sender be notified of all the fees involved, how much you will receive, and the exchange rate(if applicable). I have to approve my transfer after receipt of the D-F notification.
Who sent you that notification of fees & or rates? All I get is denial of the transfer, even if doing dollar transmissions one for one.
WorldRemit says they are located in England which would seem to indicate that money from your bank in the US first goes there. While their fees may be low, what fees will your bank charge you for sending money to England?
I read some reviews about them and there were quite a few complaints about money taking a long time to get there and having to resend to money. I'd really like to hear from someone who has used the service to transfer money from the US to the DR. How much were the total fees and how fast and reliable it is.
I did a trial with WorldRemit and it arrived next day. Maybe I was lucky
I will report back later as I am sending more now that I had a good first experience.
TransferWise is very expensive, also base in the UK and you can not send dollars to a dollar account.
But Cavok - I thought you said your bank advised you of the fees and you approved it an it went through. Can you tell us which bank that was please, as that may be the best alternative.
I like bank to bank without a middle man service