subject: Educate Yourself Before You Send Money Online To Dominican Republic [print this page] To send money online to Dominican Republic, you should understand the country's money system. The Dominican Peso is equal to about .02745 U.S. dollars, which means to send a U.S. dollar, you will need to send the equivalent of 36.4500 Dominican Pesos. Fortunately, the U.S. dollar is considered one of the easiest forms of money to transfer to the Dominican Peso and has a favorable exchange rate, although many businesses also accept the U.S. dollar anyway. If the seller lives near a tourist area or large city like La Romana, San Juan, or Santo Domingo, it might be okay to send U.S. funds by check, though it might take days or even weeks to get to its destination.
Since ATMs are open every hour of every day in the Dominican Republic, particularly in larger towns or cities with many tourists, sending a prepaid debit card might be your best choice. You would simply select a company to use, send a debit card to the recipient, and add money to it online or over the phone. It costs about $5 in most cases to add money, no matter how much you need to add. Just in case your recipient lives in a small town that does not have ATMs or stores that accept debit cards, make sure this method is okay with the seller of the product you bought.
Not many banks offer money transfers to the Dominican Republic. This could be due to the high number of popular banks there that have been accused of stealing funds wired from the U.S. For this reason, many people prefer to play it safe and not deal with banks in the area at all. If you need to send money online to Dominican Republic and do not want send a prepaid debit card, you can use a money transfer service.
This kind of company allows you to transfer money without using a bank, and has similar fees. Such a service can usually send money either from one bank account to another, from your bank account to a pickup location, or from cash to an account, all for about $5. Most transfers are either instant or take up to two days. You just have to do your research to find one you can trust.
No matter how you choose to send money online to Dominican Republic, getting educated about the methods available and the country's financial system is helpful. Transferring funds the right way the first time will help the seller you are working with get the money faster. In turn, you are more likely to obtain your new purchase more quickly, as well.
