Cheapest, best way to send money to Dom Rep

AimHigh

New member
Jan 22, 2009
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San Antonio, Texas, United States
Which way is the best way to send money to the DR. There are some places that charge you a low fee to send the money but they kill you with the exchange rate. I'm sure that there are many places out there but which one gives you the best bang for your money.
 
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pedrochemical

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Aug 22, 2008
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Well this might or might not work then...
Western Union was always expensive and only for use in an emergency - I have been charged around 9% normally - but receiving cash from the U.K. online I have been getting charged 0.4% and the exchange rate (from sterling to US$) was the same as the spot price quoted on the ForEx markets.
Bloody incredible!
For 1000 pounds sterling last week I received 1627US$ including all charges - and it is instant.

You must stipulate that the cash is to arrive in US$. The Western Union office here will try to talk you out of it, but persevere, take the US$ and get them changed at your leisure if you need to.
I guess you will not even have an exchange rate fee if you are sending US$ anyway.


By the way, beware ScotiaBank in the D.R!!! They have lost my transfer money twice and taken weeks to find it again.
 

Jumbo

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Jul 8, 2005
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xoom.com is $4.99 for peso 39.70RD to 1. Or USD option for $7.99 but these rates are for xoom accounts linked to a checking account. Pick up at banks or Caribe Express. Just say no to Western Union. If sending $200 or more go with the USD option and make sure the recipient gets the proper exchange rate.
 

cleverlemming

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Jul 14, 2012
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When I tried to use Xoom, I found out that they didn't have the bank agreements their website claimed in the Dominican Republic. It took days to get my money back. They're another service like Paypal that makes their actual money on a huge revolving mutual fund investment, meaning that they profit from arbitrary delays.
 

Tamborista

hasta la tambora
Apr 4, 2005
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This thread is 3 1/2 years old, I am sure the OP sent his novia dinero for her sick mama's third cornea transplant already and she is seeing 20/20 once again!
 

Jumbo

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Jul 8, 2005
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I now see i was wrong on the USD transfer. The cost goes up with amount sent. But the peso fee is the same ( minus 1 peso or so per dollar exchanged ). As for sending money to banks some sukk. I only use Caribe Express. Had problem sending to Progresso once because the money was tied up in the Capital but one phone call got it taken care of. I still say no to Western Union.
 

Jumbo

Bronze
Jul 8, 2005
1,514
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48
This thread is 3 1/2 years old, I am sure the OP sent his novia dinero for her sick mama's third cornea transplant already and she is seeing 20/20 once again!

I now see that Tambo but it was under new post for i did not go looking for old posts. This is messed up because i was the idiot that 1st answered this old thread but it was under new posts!!!!!!!!!!!!!

Gotta lock posts over 2 years old.
 

kampinge

Member
Jan 18, 2012
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Open a US$ account in a bank here. I got very good experience with Banco Popular. Send US$ from your US bank and change your Dollars whenever you won't . You have to keep always at least 500US$ on your account to maintain your account. Try not to send more than 6000 to 9000 US$ a time.
In the last 3 years I have sent about 30 transfers from a Swedish US$ account to my Popularaccount. Its take between 1 and 3 days (working days) and cost 26 US$ for a 6000 $ transfer. Banco Popular charge me 6 US$ for the receiving of the money.
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
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South Coast
Like kampinge, we use bank-to-bank transfers for larger amounts.

To send monthly expenses for our house in DR [electricity, caretaker, dog food, etc] we use a service in a local store in Atlantic City. These places are in all latino neighborhoods, usually have a sign that says 'envio dinero' or similar in the window. We give them cash in the morning, and in the afternoon of the same day someone delivers cash [in dollars] right to the recipient's door. Cost is about 2% of what you send, so if we send $300 it's $6.

The only time we had a problem with them is when we had to send $3000 quickly, so I went to the bank and took out cash. When we brought it in, they wanted proof of where we got the money. Apparently there is a limit to what you can send without proof, if I remember correctly it was either $2000 or $2500. In the end, they sent it for us because the owner of the store knows Mr. AE and vouched for him.
 

CARIBETORNO

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May 3, 2013
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i like WU only 8.00... thats not expensive unless your broke. USD not DOP. never a problem. 1000 2000 2500 still 8.00 and its there in minutes. Ask my wife how good it works. Bank transfers to BHD are 45.00 and can be immediate or longer. I have three family members that work in Dom Rep banks and they all say do the WU. But USD not pesos J
 

Deyvi

*** I love DR1 ***
Dec 23, 2009
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The best way I found is to find a Latin money transfer that is near you and send it in dollars through Caribe Express.
Ask some Latinos where you live. They know the ins and outs best. I live in Florida and thats how I found out.
The place I used had 2 computers--ask them to run the info on each for small and larger amounts and even the workers there get surprised. It differs from country to country. Minimum was $5. I think $9 for 500.
Try Googling -- Envio De Valores La National-- You can probably locate the nearest one towards you. Never had any problems,professional--though at some places it's best to know spanish.
 

CARIBETORNO

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May 3, 2013
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Ask some Latinos where you live. They know the ins and outs best. I live in Florida and thats how I found out.


hahahhahaha. makes no sense!!!! I did not know Latinos had a lock on transferring money hahahahaha
 

CARIBETORNO

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May 3, 2013
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Ask some Latinos where you live. They know the ins and outs best. I live in Florida and thats how I found out.


hahahhahaha. makes no sense!!!! I did not know Latinos had a lock on transferring money hahahahaha
I will stick with Western Union been around for years
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
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Ask some Latinos where you live. They know the ins and outs best. I live in Florida and thats how I found out.


hahahhahaha. makes no sense!!!! I did not know Latinos had a lock on transferring money hahahahaha
I will stick with Western Union been around for years

Makes COMPLETE sense. Latinos are always sending money home, they know the best places, many that you would never find by yourself. Not all of them advertise or have signs in windows. The one we use is a Latino travel agency. The money is delivered to their door within hours. In dollars.
 

CARIBETORNO

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May 3, 2013
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Stick with Western Union if you are rich enuff so that paying double for a simple service doesn't bother you.
Der Fish
whatever.
8.00?? thats nothing i do not consider that rich. does not matter to me who anyone uses. i really do not care. i send $2000.00 a week cost me 8.00
 

CARIBETORNO

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May 3, 2013
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Makes COMPLETE sense. Latinos are always sending money home, they know the best places, many that you would never find by yourself. Not all of them advertise or have signs in windows. The one we use is a Latino travel agency. The money is delivered to their door within hours. In dollars.

ok you guys are the EXPERTS my family are latinos i send money home every week hahahaha DID NOT WANT AN ARGUEMENT. Sending money is not rocket science is all. jeez
 

jaiallen

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Jul 9, 2010
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Western Union just changed their rules. Recently they were gouging and charging by the amount sent, now since Xoom is giving them a lot of competition, they have been charging a flat $5.00 fee for all transactions. I don't know how long this is going to last, but I have been taking advantage of it.
 

CARIBETORNO

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May 3, 2013
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Western Union just changed their rules. Recently they were gouging and charging by the amount sent, now since Xoom is giving them a lot of competition, they have been charging a flat $5.00 fee for all transactions. I don't know how long this is going to last, but I have been taking advantage of it.

yes it was $18.00 now mine run $8.00 for same amount. Believe me I have wife that pinches every dollar. we have used just about every company we know of. Its funny with WU if you send money in usa to usa the price is higher hahahaha. i had trouble with xoom but i do not remember what it was.
Like someone posted its an old post, rules change all the time however.