International Money Transfer - US/CAN to DR

[chico bill]

Hi All...Thank you all for your responses.

I attempted the Zoom/PayPal service. I did this via the PayPal app and have to say navigation was smooth. I even got the updates of when the transaction will be finalized i.e. in 3days. I was excited. On day 3 i get the sad news that the "3rd party" in the transaction was unable to validate the recipient's information and the transaction was cancelled! Complete disappointment! I am able to send to the same recipient via my Canadian Bank (RBC -royal bank of Canada), so I'm not sure what the actual story was. Their support was not able to provide details either; only to check the recipients details (which I already validated).

Will be looking at other suggestions you have provided...

Factors for me:
speed of transaction
Cost of transaction

Cheers!

Isn't it Xoom (not zoom)

 

[Unit5]

Isn't it Xoom (not zoom)

Yes, Xoom. Thanks for pointing that out..lol.

 

[cavok]

Maybe try Ria(?). Other posters here have recommended their service. I've personally never used them. Money can be picked up at CaribeExpress and Banreservas(possibly other places?).

 

[DRdreaming]

Maybe try Ria(?). Other posters here have recommended their service. I've personally never used them. Money can be picked up at CaribeExpress and Banreservas(possibly other places?).

I have been using Ria for about a year now. After the first few transfers (where it took a few hours to be avaliable), it is now available immediately. I use a debit card, the fees are less than Western Union for a transfer being picked up in USD. You can also use a credit card, or transfer from your checking account. The transfer from a checking account takes a few days if I remember correctly.

Money can be picked up at BHD, BPD, Banreservas, Caribe Express, and other locations. It can also be sent directly to an account at any of these banks.

 

[Jan]

You can always get a paypal debit card and send it to the person. Then you just put money in that paypal account and they use the debit card to get the cash.

 

[bob saunders]

What about MoneyGram?

 

[SKY]

What about MoneyGram?

MoneyGram will ban someone after receiving a few MG's. Don't know why, but they do it. Good for one or two, not more to the same recipient. And there exchange rate is terrible...........

 

[NanSanPedro]

MoneyGram will ban someone after receiving a few MG's. Don't know why, but they do it. Good for one or two, not more to the same recipient. And there exchange rate is terrible...........

So true. I was banned 2 years ago or so for no apparent reason.

Even the drug dealer I was sending money to couldn't understand why.

I keed, I keed.

 

[JimW]

What do you mean by TD bank checking account.. I live in US... do you mean TD Ameritrade?

HI Kenshireen,

No, not TD Ameritrade (the brokerage). TD Bank NA banking chain in the US. Regular US bank same as BoA, Chase, WellsFargo etc.

The two "TD's" only share the name TD (Toronto Dominion) in common due to their heritage. They're completely separate legal entities owned by different companies.

I do my banking with TD Bank and when sending money to the DR via. Xoom/Remitly/XE etc. , have the funds ACH'd from my TD Bank account (same as you would from any bank account with an ABA and Account number)

Best rgrds

 

[David B]

I use Paysend. Rate today is 52.96 pesos to the dollar. fee is $2. You can send to any Dominican debit/card using your own US bank's debit card..

 

[David B]

I use Paysend. Rate today is 52.96 pesos to the dollar. fee is $2. You can send to any Dominican debit/card using your own US bank's debit card..

Actually, there is no charge if you're sending to one of various Dominican banks (not Banreservas), if you're converting dollars to pesos.

 

[kenshireen]

Actually, there is no charge if you're sending to one of various Dominican banks (not Banreservas), if you're converting dollars to pesos.

can you send to banko popular

 

[kenshireen]

HI Kenshireen,

No, not TD Ameritrade (the brokerage). TD Bank NA banking chain in the US. Regular US bank same as BoA, Chase, WellsFargo etc.

The two "TD's" only share the name TD (Toronto Dominion) in common due to their heritage. They're completely separate legal entities owned by different companies.

I do my banking with TD Bank and when sending money to the DR via. Xoom/Remitly/XE etc. , have the funds ACH'd from my TD Bank account (same as you would from any bank account with an ABA and Account number)

Best rgrds

Sorry but still some confusion... There is a TD bank in the US (not TD AMERITRADE).. is this the bank you are referring to?
Thank you

 

[cavok]

Actually, there is no charge if you're sending to one of various Dominican banks (not Banreservas), if you're converting dollars to pesos.

I went online and it said there is a 2% fee on all transfers over $200, so it sounds ok for small amounts but not so great for large amounts.

 

[David B]

can you send to banko popular

Yup

 

[AlaPlaya]

Sorry but still some confusion... There is a TD bank in the US (not TD AMERITRADE).. is this the bank you are referring to?
Thank you

Not OP, but the answer is yes.

 

[David B]

I went online and it said there is a 2% fee on all transfers over $200, so it sounds ok for small amounts but not so great for large amounts.

Maybe my eyes are deceiving me, but I just sent $400 and paid a fee of $2 not 2%.

 

[cavok]

Maybe my eyes are deceiving me, but I just sent $400 and paid a fee of $2 not 2%.

Maybe the limit has gone up? How long did it take and what exchange rate did you get? I've checked into quite a few posted here, and they have all ended up having a "catch", a hidden fee, or a problem - like long transfer times. I need a service where I can transfer at least $5000 USD, will arrive in a day or two, and cost less than a typical wire transfer fee of around $50 USD total.

 

[malko]

Hi All,

I am wondering if anyone knows of a cost effective way to transfer money to a recipient in the DR. I have no idea what fees are deducted at the banks in the Dominican, This example is for a Recipient who has a Scotia Bank account in the DR. I transfer 10 000 DOP as per Google's rate at the time, my bank charges me $6 CAD per transaction, but when the money eventually arrives in the recipients account, it is around 7 or 8 000. Does the 2000 or so DOP sound excessive?

Rio or Ria is what I use to send money to someone in the DR.
Walk in to one of their offices ( in europe ), pay a 5chf ( same in $ ) fee and they deliver to any address in the DR, same day, the equivalent in pesos.

Only " problem" is you can now only send 2.5k per month w/o justification documents ( bank statements and/or pay slips )----- thanks to Uncle Sam, land of the not-so-free, as apparently everything goes through the US, even while sending from europe.

 

[cavok]

Rio or Ria is what I use to send money to someone in the DR.
Walk in to one of their offices ( in europe ), pay a 5chf ( same in $ ) fee and they deliver to any address in the DR, same day, the equivalent in pesos.

Only " problem" is you can now only send 2.5k per month w/o justification documents ( bank statements and/or pay slips )----- thanks to Uncle Sam, land of the not-so-free, as apparently everything goes through the US, even while sending from europe.

What if you're not in Europe?