Any Paypal Option other than Popular?

csteinwand

Member
May 11, 2020
98
31
18
Puerto Plata
I found that, and am looking at it, but I don't see any means to send USD -> DOP.. I'm confused how they have a great exchange rate if they don't exchange the two currencies..

I'm sure I'm just not seeing something
 

Kricke87

Active member
Feb 16, 2021
263
175
43
Sosúa
Nope, you cannot hold DOP as a currency using Wise. But just to explain how I use it.
I work for a Canadian company online. So I get paid in CAD. Before I found Wise, I used a Paypal account and when they sent money to my Paypal account, PayPal in their own fees and transactions fees took around 15% of the amount my employer sent me.
With Wise, they instead send payments to a local Canadian bank account that has been created using Wise, and Wise takes 0% in any fees for that transaction, so if they send me 1000 CAD that is exactly the amount that I'll have on my Wise account.
Then I can use that money all around the world if I have their VISA card. It's not possible to receive it in any country where their service is not supported, such as DR, but you could receive it at a US address and then send the card to the DR.
Or you could simply transfer the money from your Wise account to any local bank account that you have, and you'll pay much less in transaction fees than with Paypal.
Just to give a comparison, according to Google, the current currency rate for 1 CAD to DOP is around 45.2, when using the card, I got 44.75. So it's about a 1% difference.
 
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