Guide to sending money to the Dominican Republic
In recent weeks, remittances to the Dominican Republic have increased considerably. In fact, according to August data, last month the amount of money sent was 22.5% higher than last year. And if we look at the amount of money sent throughout the year, the percentage is 7% higher, recovering from the drop in remittances during the lockdown months of the worst weeks of the pandemic.
In this situation, it is normal for Dominicans to wonder what the best way is to send money to the Dominican Republic. Are they required to pay in cash in stores? Is there a way of making the transfer from home? Is my recipient required to have a bank account in order to collect the money?
To answer these and other questions, we have created this post that, we hope, will clarify all your doubts when sending money to the Dominican Republic.
Physical stores, agents or online: it’s your choice
When it comes to sending money to the Dominican Republic, there are all kinds of preferences. Some users prefer to visit a physical store or an agent to make their money transfers because it gives them greater security. Others, however, prefer the convenience of being able to make the transfer from home. In both cases, Small World offers a solution tailor-made to the needs of its users. If you want to make the transfer through one of our stores we advise you to visit our website to locate the store closest to your home.
You will be able to locate all our stores, all over the world. Also, remember that it’s not only in our physical offices that you can make a transfer. You also have our entire network of agents at your disposal.
If, on the contrary, you prefer the comfort of your own home, we offer you two options: one, through our website, where you can make your transfer after creating an account with us.
And option number two, if you’re addicted to handheld devices, is our cell phone app. Available for both Android and iPhone devices, it comes with all the security protocols to ensure that you can make your money transfer to the Dominican Republic with the greatest possible security.
How can I pay for my money transfer to the Dominican Republic?
When it comes to sending us the money you want to transfer to the Dominican Republic, we have several options available. If you want to send money through our website or cell phone app, you can use any Visa card or MasterCard. But you must bear two major requirements in mind: firstly, that the card has to be in your name. And secondly, that it has to have been issued in the country from which you want to send your money to the Dominican Republic.
If you don't have a credit card, you can always make a transfer to our bank account. But you must keep in mind that we will not be able to start processing the order until we’ve received the money in our account.
If you don't have a credit card or bank account, you can visit any of our stores or agents and send money by making a cash payment.
How can my beneficiary collect the money in the Dominican Republic?
When it comes to sending money to the Dominican Republic, you have different payment methods available to process your order. Many people prefer to send money so that their beneficiary can collect it in cash at one of the points available in the country. In the Dominican Republic, we have more than 1,900 payment points distributedthroughout the country where the money you want to send can be collected. We operate with major partners including Banco Unión, Banreservas and Banco BHD León.
If your recipient has a bank account, you can also select the option to have the money transferred directly to their account. The bank deposit option is one of the most convenient, but don’t worry if your recipient doesn’t have an account. You can also choose to have the money delivered directly to their home so that they don’t even have to leave the house, now that in these times of pandemic it has become so important to reduce travel as much as possible.
Lastly, you can also choose a telephone top-up as a payment method, so that the money is delivered directly to them in local currency.
Welcome gift for your first money transfer to the Dominican Republic
If what you’ve read meets your needs and you’d like to try making money transfers to the Dominican Republic, we’ve got good news for you. All users who start to make transfers with us are offered the first transfer free of charge. But keep in mind that in order to benefit from this promotion you must make the transfer via our online channel.
In order to apply this offer to your transfer, you don’t require a promotional code. The commission fee will be automatically deducted from the order.