Sending money to DR from a foreign Country

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
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It however is unsafe to send it to that guy you met who works at the all-inclusive hotel you stayed at because a) he doesn't love you and b) he has sex with other girls and sometime guys when you are not there every chance he gets.

Operationally it takes seconds, literally and is paid out at any WU office in the country.
 

karenssp

New member
Jul 28, 2004
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Money

I hoping to send the money through my bank here to the DR. How safe is that transaction?
 

Ken

Platinum
Jan 1, 2002
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karenssp said:
I hoping to send the money through my bank here to the DR. How safe is that transaction?

You mean by transfer from bank to bank, or something else. If that is what you mean it is safe.
 

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
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karenssp said:
I hoping to send the money through my bank here to the DR. How safe is that transaction?

It may take a long time, can't be picked up like WU can as easily, and may cost as much anyway. If this is money to some fellow then WU is likely the simplest choice. Or a competitor like Vigo, etc.
 

Chirimoya

Well-known member
Dec 9, 2002
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Rick is right. In my experience, the banks sit on the money for an indecent length of time, and they charge you about US$50 for the pleasure.
 

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
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It ain't fast but we like it here at the bank. Free money that is. And a fee for us keeping an eye on it. I have to say WU for all its faults is amazingly quick.
 
Jan 9, 2004
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For ease and efficiency (not necessarily cost), WU or other money transfer agents win hands down. Some people have linked bank accounts with ATM cards and perhaps that idea is worth investigating as well. It's all a matter of personal preference.

Point of interest, Vigo was bought by Western Union last year. Lots of money being made in transfers.

Respectfully,
Playacaribe2



ricktoronto said:
It may take a long time, can't be picked up like WU can as easily, and may cost as much anyway. If this is money to some fellow then WU is likely the simplest choice. Or a competitor like Vigo, etc.
 

jojo2130

New member
May 30, 2005
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Not me

I dont get it. I transfer money from My Canadian Accounts to Republic Bank and it is here the same or next day without fail........ Have I only been lucky so far ? The sending fees are high but the receiving fees are nil.........

For Small amounts the XOOM sevice is fantastic. http://www.enviosboya.com/
 
Jan 9, 2004
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Wire transfers, Western Union and Vigo

On large business transactions, I tend to favor Bank to Bank wire transfers for cost efficiency and recordkeeping.

As for smaller transfers I now exclusively use Vigo. Apparently the fees to send money are set by the local operator and the Dominican gentleman that operates the Vigo location I use charges $5.00 up to $500 and $10 from $501-$1,000. This is nowhere near what I paid on a handful of occasions at Western Union and lower than what other Vigo outlets charge. And, as I indicated in my prior post, Western Union purchased Vigo last year, so it remains to be seen how long those rates will hold.

Respectfully,
Playacaribe2
 
Nov 16, 2005
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WWW.TRANS-PAQ.COM
it totally depends on the location??

playacaribe2 said:
On large business transactions, I tend to favor Bank to Bank wire transfers for cost efficiency and recordkeeping.

As for smaller transfers I now exclusively use Vigo. Apparently the fees to send money are set by the local operator and the Dominican gentleman that operates the Vigo location I use charges $5.00 up to $500 and $10 from $501-$1,000. This is nowhere near what I paid on a handful of occasions at Western Union and lower than what other Vigo outlets charge. And, as I indicated in my prior post, Western Union purchased Vigo last year, so it remains to be seen how long those rates will hold.

Respectfully,
Playacaribe2[/QUOT
I am happy that you found a remitante that is so cheap, but it also depends on your location, montreal toronto, vancouver, etc.and how they deliver the money in peso or $us. There is a ton of competition in all citieis right now,
In montreal there is uno, ria, and caribe express. and they all have different prices dependant on what you want.
 

GordonS

New member
Nov 6, 2005
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Transfer direct to bank account

We have found that the cheapest way of transferring money to someone with a foreign bank account is to transfer directly into that person's bank account via an internet transfer and then let them take it out using their (foreign) interac bank card from any ATM. Transfer fees are $1.50 no matter what the amount and the person withdrawing pays $3.00 per withdrawal. Simple, and takes approximately 15 minutes for the transaction to process at the sender's end. The person picking up the money needs an email address and of course access to that email to accept the email notification generated automatically by the bank and a password as well. Additionallly, their bank must offer Internet Banking which is a service most banks offer.
 

KeithUK

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Feb 8, 2006
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karenssp said:
How safe is it to send money to DR from a foreign country?
I have used Western Union many times. It is perfectly safe but from the UK they will only pay out in pesos I tried for it to be paid out in dollars and they refused stating that it could only be paid out in the currency of the country you send it to.
 

rellosk

Silver
Mar 18, 2002
4,169
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KeithUK said:
I have used Western Union many times. It is perfectly safe but from the UK they will only pay out in pesos I tried for it to be paid out in dollars and they refused stating that it could only be paid out in the currency of the country you send it to.
Env?os Boy? will send money in dollars (only from the US).

You brought up a godd point. In addition to the fees, another thing to consider when sending money to the DR is the exchange rate. Env?os Boy? seems to offer the best rate over Western Union and Xoom.
 

MommC

On Vacation!
Mar 2, 2002
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If you are sending money for a business transaction or to a family member any of the above methods are safe.
If you are sending it to a 'friend' you met on vacation, do yourself a favour and no matter what the 'friend ' says they need the money for, leave it in the bank for your next vacation!!

MommC - speaking from years of experience!
 
Nov 16, 2005
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WWW.TRANS-PAQ.COM
I know the life, my friends have been there done that

MommC said:
If you are sending money for a business transaction or to a family member any of the above methods are safe.
If you are sending it to a 'friend' you met on vacation, do yourself a favour and no matter what the 'friend ' says they need the money for, leave it in the bank for your next vacation!!

MommC - speaking from years of experience!
Most people on vacation do things and promise things, most will try to do what they promise, but just remember the next flight coming in while you are leaving....................love , and hugs, and promises, YOU ARE GONE!!!!!!!
AND 15 MINUTES LATER THE LAST GIRLFRIEND ARRIVES..............SORRY , BUT THAT IS THE LIFE OF A SANKY...........