Do you want to transfer money to the Dominican Republic? Perhaps you want to support your relatives there or have another reason for sending money to the Dominican Republic. In that case you have to transfer money abroad, which is always connected with additional costs.
The Dominican Republic is a part of the Island Hispaniola (together with Haiti).Having a population of estimated 10 million people, the GDP of the Dominican Republic is at about 99 billion USD. The tourism makes up a large percentage of this number. DO you also plan to spend some in the Dominican Republic and want to send money there? Then use Xendpay for your international transactions.
Who is Xendpay?
Xendpay is an online platform for international payments. It was founded in 2011 by the foreign exchange company RationalFX. Xendpay makes money transfers to other countries easy, much more uncomplicated than using services of banks or other payments institutions. You only have to enter your personal information, the information about the recipient and his bank and the SWIFT bic/IBAN to process a payment. This is possible without leaving your own home. As an authorizes payments institution Xendpay is regulated by the FCA. In total the RationalGroup (RationalFX and Xendpay) has transferred over 2 billion USD.
How expensive is Xendpay compared to other companies?
The terms of Xendpay are very fair to the client. The highest costs for a customer occur with respect to fees/commissions and the exchange rate. Our fees are very low and the exchange rates Xendpay offers his clients is highly competitive. People who choose Xendpay as their payments provider receive much more money for their currency than clients of banks or payment bureaus like Moneygram.
Another expensive aspect of an international transaction can be fees and other charges imposed by intermediary banks. Sometimes it is necessary to use services of a (bigger) bank to reach a (smaller) bank in a country. These banks might take a fixed amount of money or a small percentage of the total payment for themselves. If that happens to you, you can contact Xendpay, as these costs will be refunded.
What do I have to do?
If you want to send money to the Dominican Republic you just have to register as a client. That is without any obligation. If you want to benefit from more advantages of Xendpay, you can additionally verify your account (more information here).