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  #1  
Old 06-16-2007, 01:54 PM
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Join Date: Mar 2006
Posts: 488
chola1978 Level 1 (12)
Default money transfer service for the Domincna Republic

I have used money transfer service for over 10 years now. I had to send money couple of times a weeks when my home was in construction. i like to see if we start to rank the best money transfer companies for sending money to the Dominican republic
I will start with a few a few please add o the list and contribute to this thread I think ill help out.
Dollex
envios Boya
CAM
Quisqueyana
Moeny Gram
Western Union
Zoom.com
Ikobo.com
ACCE
Remesas Dominicanas
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  #2  
Old 06-17-2007, 08:29 AM
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Join Date: May 2007
Posts: 143
oceanbound Level 1 (10)
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which offers the cheapest rates to send money to DR?
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  #3  
Old 06-22-2007, 12:41 PM
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Join Date: Apr 2002
Posts: 1,703
Porfio_Rubirosa Level 1 (10)
Default Servicash

www.servicash.com (Banco Popular)
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  #4  
Old 06-23-2007, 10:01 AM
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Join Date: Jun 2007
Posts: 5
pfokas Level 1 (10)
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Sending money through western union for 100 dollars sent as pesos cost 3.99 which is the same as servicash.com
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  #5  
Old 06-23-2007, 11:24 AM
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Join Date: Mar 2002
Posts: 4,005
rellosk Level 1 (32)
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Quote:
Originally Posted by pfokas View Post
Sending money through western union for 100 dollars sent as pesos cost 3.99 which is the same as servicash.com
Thier fee seems to depend on which State you send the moeny from. For NJ the fee is $20. Also, their exchange rate is about 3% less than servicash.
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  #6  
Old 06-23-2007, 06:58 PM
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Join Date: Jun 2007
Posts: 5
pfokas Level 1 (10)
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The following order was sent with Western Union on June 20 by me. Do you think any of the other money transfer services would give me a better deal? If so I would be interested as I am sure all of us want the best deal.

Date of Order: 06/20/2007
Amount Sent: $100.00
Money Transfer Fee: $3.99
Total Amount: $103.99

Exchange rate* 1 USD = 30.4700964 DOP
Local currency pay out = 3047.01 DOP
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  #7  
Old 06-24-2007, 07:39 PM
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Join Date: Feb 2007
Posts: 1,582
rubio_higuey Level 3 rubio_higuey Level 3 (190)
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Xoom:

http://www.xoom.com

same service fee (4 USD =vs= 3.99 USD), but receive more pesos

Sending: USD 100.00
Receiving: RD$ 3,135.31

Service Fee USD Cost
Standard $4.00 $104.00

Fee is 4 USD for online sending with a credit card
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  #8  
Old 06-24-2007, 07:43 PM
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Join Date: Feb 2007
Posts: 1,582
rubio_higuey Level 3 rubio_higuey Level 3 (190)
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Envios Boya

www.enviosboya.com

service fee 6.25 USD (more than Xoom), receive same pesos as with Xoom (better exchnage rate), total cost virtually same

exchange rate USD=pesos= 1.00 : 32.00

3,135 pesos (as with Xoom) = 98 USD (to send)

98 USD + 6.25 service fee (using online sending with credit card) = US$104.25

Last edited by rubio_higuey; 06-24-2007 at 07:50 PM.
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  #9  
Old 06-24-2007, 07:49 PM
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Join Date: Feb 2007
Posts: 1,582
rubio_higuey Level 3 rubio_higuey Level 3 (190)
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Moneygram service:

Country Sending From : UNITED STATES
Country Sending To : DOMINICAN REPUBLIC
Service : 10 Minute Service
Send Amount : 100.00 US DOLLAR
Fee Amount : 4.99 US DOLLAR
Total Amount : 104.99 US DOLLAR
Receive Amount : 3,138.91 DOMINICAN PESO

Estimated exchange rate : 1 US DOLLAR = 31.389051 DOMINICAN PESO

Virtually same money as Xoom / Boya
1 Dollar more service fee. Can go to local Moneygram location to send



Now, if you send 99 dollars, with Moneygram you still get more Money than with Western Union, but your total cost is same as WU.

Country Sending From : UNITED STATES
Country Sending To : DOMINICAN REPUBLIC
Service : 10 Minute Service
Send Amount : 99.00 US DOLLAR
Fee Amount : 4.98 US DOLLAR
Total Amount : 103.98 US DOLLAR
Receive Amount : 3,107.52 DOMINICAN PESO


Estimated exchange rate : 1 US DOLLAR = 31.389051 DOMINICAN PESO
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  #10  
Old 06-24-2007, 07:52 PM
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Join Date: Feb 2007
Posts: 1,582
rubio_higuey Level 3 rubio_higuey Level 3 (190)
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Servicash (Banco Popular) uses the same underlying provider/processor as Envios Boya (just see the "send form" to see it's a clone) but their fees are more than Envios Boya and their exchnage rate (payout rate) is less than Boya's. Recommend: Boya instead of Servicash.
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