Cheapest way to send money from the US to the Dominican Republic

Who sends money from the US to the Dominican Republic

Common senders: workers supporting family, diaspora communities sending regular monthly support, and people paying bills back home.

About this corridor

Dominicans in New York, New Jersey, Florida and Massachusetts send money home on a tight monthly rhythm, and cash pickup at a local remittance agency is still very common. If your family can receive into a Banreservas or Banco Popular account, compare that option: it usually avoids the extra cash-handling margin.

Worked example: sending 500 USD

Using the ExchangeRate-API rate on 2026-10-08, 1 USD = 60.2828 DOP, our estimate model gives these results for sending 500 USD:

In this example Revolut delivers roughly 1,688.37 DOP more than a typical bank wire. Rates move daily and providers change pricing, so treat this as an illustration from our model; the live calculator above and the provider's own quote are what count. See how we estimate.

Sending to the Dominican Republic: what to know

• Payout options: bank deposit (Banreservas, Banco Popular, BHD and others), cash pickup at remittance agencies, and home delivery on some providers.
• Remittance agencies have branches in almost every town, but a bank deposit usually gets a better rate than cash.
• Check whether the recipient's account is in pesos or US dollars; both exist and change the cost.

Rules and limits

In the US: Under the CFPB Remittance Transfer Rule, US providers must disclose the exchange rate, fees and the amount to be received before you pay, and you can generally cancel for free within 30 minutes. Since 1 January 2026 a 1% federal excise tax applies to transfers you pay for with cash, a money order, a cashier's check or a similar physical instrument; transfers funded from a US bank account or a US-issued debit or credit card are exempt. Gifts to one person above the annual gift-tax exclusion ($19,000 for 2025 and 2026) require a Form 709 filing, though tax is rarely due; ask a tax professional.

In the Dominican Republic: Remittance companies are supervised by the Banco Central de la República Dominicana and the Superintendencia de Bancos. Cash collection requires the recipient's cédula.

How to pick the cheapest option

1. Compare the amount received, not the fee. "Zero fee" offers usually hide their cost in the rate. How markups work.
2. Small amounts: watch fixed fees. Large amounts: watch the markup.
3. Avoid intermediary deductions. SWIFT wires can lose $10–30 in transit. Why.