It is easy to send money to the Dominican Republic and today more people than ever are choosing to transfer funds to support their family and friends.
If you are looking to send money home you may have questions. We’ll explore everything you need to know to send money to the Dominican Republic, including which payout service to use and the bank partners you can use.
Below you’ll learn about:
- Transfer Services
- Why is using Small World beneficial?
- Exchange rates
- Our Partners in the Dominican Republic
- Use Small World
If you choose to use Small World to send money to the Dominican Republic there are a number of methods you can use. Before we explore why using Small World is beneficial, we’ll highlight the transfer service options we offer:
One of the most simple ways to transfer funds is via cash pickup. All you need to do is to send money for cash pickup to any of our cash pickup collection locations in the Dominican Republic. This method is accessible to everyone, especially to any friends and family in the Dominican Republic who may not be familiar with receiving money online and prefer to collect physical cash. It’s easy and simple.
A bank deposit is exactly what it sounds like. You can send money directly to a bank account in the Dominican Republic of your choice and the transfer is done by Small World to ensure your money is secure and convenient.
You can also transfer funds by having money delivered directly to a home address of your choice. This is the ultimate convenient choice, allowing the recipient to get their money without even leaving the comfort of their own home. This is a great choice if the person you’re sending money from might have problems leaving their house, making it very easy and convenient for them to still receive money.
One of the easiest ways to receive money in the Dominican Republic is through your mobile phone. That’s why Small World has included Airtime Top-Up as an option for people when sending money. The service is quick, safe and simple because you can transfer money to a mobile provider as airtime and the recipient doesn't have to take any complicated actions.
Why is using Small World beneficial?
We know that sending money can be tricky, so we want to make it as easy as possible for you. . Below we’ve highlighted why using Small World to send money to the Dominican Republic is a great choice.
Small World is Secure
Small World is a regulated financial services company handling more than 1 million transactions a month. We prioritize security and ensure that every transfer is handled with the same level of care and diligence.
Small World is Fast
Small World facilitates instant or same day service to over 90 countries worldwide, including the Dominican Republic. We know that you sometimes need to make quick money transfers and the infrastructure we have in place ensures that you can quickly send money to the Dominican Republic in a variety of ways including bank deposits and airtime top-up.
Small World is Trusted
Over 15 million customers worldwide trust us with their global money transfer needs. At Small World we take pride in our stellar global reputation and we are a trusted money transfer service for a good reason. Millions of customers trust Small World, so you are joining a big community.
If you need to send money to Santo Domingo or San Pedro de Macorís it helps to know about the major exchange rates with the Dominican peso.
On average the exchange rate between the Dominican peso and the US dollar in 2021 has been 1 USD to 57.2 DOP. Similarly, the average exchange rate between the Dominican peso and the Euro in 2021 has been 1 EUR to 68.5 DOP. If you are living in the United States or Europe and you have family or friends in La Romana or Higüey, knowing these exchange rates is important to being able to send them support.
Our Partners in the Dominican Republic
Now you know how to send money to the Dominican Republic, and why you should do it with Small World but you may still be wondering how your beneficiary can receive the money in the Dominican Republic. Don’t worry, the process is easy with Small World’s partners.
In the Dominican Republic, we have more than 1,900 payment points distributed throughout 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.
- Banco Unión
In 2008, Banco Unión was established in the Dominican Republic. The bank was founded with the aim of helping immigrants, improving financial accessibility and revolutionizing the payment of remittances in the Dominican Republic. The bank oversees one of the largest payment networks in the country and it operates through a network of correspondents in the US, Latin America, Spain, and other European countries.
The BanReservas is the largest bank in the Dominican Republic regarding its assets. The bank was founded in 1941, and provides personal and business banking solutions. They operate 298 bank offices, 737 ATMs, and eight couriers.
In 2020, finance magazine Euromoney recognized BanReservas as the Best Bank of the Dominican Republic in recognition of the bank’s business management, support for its clients, innovation, and backing for productive sectors. (CFI)
- Banco BHD León
Banco Multiple BHD Leon was established in 1972. The bank is one of the largest in the Dominican Republic and holds a 19% market share. Banco BHD Leon provides a variety of banking products through more than 133 branches and over 545 ATMs across the country.
The banks cater to over 980,000 customers with a variety of services. Banco BHD Leon is suitable for individuals, small and medium-sized enterprises, and corporations.
You can use any of Small World’s partners in the Dominican Republic to ensure that your money gets to where it needs to be.
Use Small World
Small World is a money transfer service that helps customers send money to every corner of the world. If you need to send money to the Dominican Republic you could do this easily via Cash Pickup, Bank Deposit, Home Delivery or Airtime Top-Up.
We facilitate millions of money transfers every year through simple, secure and efficient transfer services. So, if you need to support your loved ones in the Dominican Republic you can rely on Small World.
Your first transfer online is always free of fees!