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How to send money to the Dominican Republic cheaply

Information verified correct on March 27th, 2017

Take advantage of low fees and competitive exchange rates when sending money to the Dominican Republic.

When you need to get money to a loved one overseas, the last thing you want to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Dominican Republic doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the best deal.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Dominican Republic is easy. But do your research and shop around for the best available deal.

Compare Money Transfer Services

Rates last updated March 27th, 2017

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 1,000 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Use promo code FREE to ... Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
More

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Case Study

Jerry and his wife, Amanda, own a successful supplier company in the mining sector. After some research on expanding operations overseas, the couple has decided that the Caribbean will be the next setup area for a distribution channel.

Amanda had the responsibility of comparing the services of two money transfer providers. She used $1,000 USD for her comparisons. Her findings can be seen below.

Money transfer company AMoney transfer company B
Exchange rate1 USD = 32.95091 DOP1 USD = 31.62453 DOP
Transfer fee10 USD50 USD
Amount of DOP received for 1,000 USD32,950.91 DOP31,624.53 DOP
Transfer time2 daysMinutes
Transfer optionsOnline, PhoneAgent
Difference in DOP+1326.38 DOP-1326.38 DOP
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How do I compare transfer companies when transferring money between the Dominican Republic and the United States?

  • Exchange rates. When comparing exchange rates, take note that the rates are subject to change in a short amount of time. Therefore, compare the narrowed down list of companies at the last possible moment that you are deciding which to choose for the final step.
  • Pickup methods. Cash pickup can be sent to an agent location or in some cases to a home address. If money is sent to a bank account in a foreign currency it can save costs but create delays in sending time.
  • Fees. Fees range between variables like time, method and minimum or maximum amounts. Remember that low fees aren’t everything if it means sacrificing time, beneficial exchange rates, and customer service.
  • Turnaround time. Turnaround times for the available services range from minutes to days. Cash pickup is your best bet when it comes to emergency transfers.
  • Transfer methods. If you don’t have a lot of flexibility in time, agent or phone options will be difficult. Look for companies that allow you to not only book on the phone or through an agent, but also online with a personal account.
  • Transfer options. Regular payments, once-off payments, market orders and forward contracts.
  • Minimum/maximum transfer amounts. Typical minimum amounts are around $250 USD or less. Although a company can have a $0 USD minimum, keep in mind that it might also have a lower maximum and a limit on what you can send per day.
  • Customer service. How much help will be available if you hit a snag or have a question? Are the support hours convenient?

Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Live USD > DOP exchange rates


How will Jerry and Amanda send money to the Dominican Republic?

  • Bank transfers. Most major banks offer wire transfers to the Dominican Republic.
  • Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily. World First and OFX are both trusted partners of Finder.com and are offering Finder readers an exclusive deal of $0 in fees.
  • Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes.
  • PayPal. You can send money abroad using your PayPal account.

Find a money transfer location near you

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Are money transfers safe?

When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. When sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.


Follow the money to the Dominican Republic

Whichever method you use, keep a record of the transaction reference number and other details so you can track the transfer and follow up if your recipient has any issues.

For a more comprehensive look at sending money overseas, see our guide to sending money overseas.

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US International Money Transfers Offers

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HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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