Compare fees and exchange rates to get the best deal on your next money transfer to Puerto Rico.
Sending money to Puerto Rico doesn’t need to be complicated or expensive. If you need to transfer funds to friends and family on the Island of Enchantment, you’ll want to compare your options to find the fastest services with the lowest fees available.
Read on to find out the best way for you to transfer money to Puerto Rico.
What's the official currency of Puerto Rico?
A territory of the USA, Puerto Rico uses the US dollar as its official currency.
Find the cheapest, fastest money transfer to Puerto Rico
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Puerto Rico. Note that WorldRemit only does mobile credit top-ups in Puerto Rico, and both MoneyGram and Western Union only send to cash pickup locations.
Ways to send money to Puerto Rico from Australia
- Online transfer provider. There is a range of money transfer companies out there than can get your money to Puerto Rico safely, whether to a bank account, cash pick-up location or mobile wallet.
- Through your bank. Most Australian banks can help you send money to bank accounts in Puerto Rico.
- Transfer companies with cash pick-up. Funds can be picked up at Western Union and MoneyGram locations throughout the island.
- PayPal. With low fees and fast transfer times, PayPal can be a sound option for sending smaller amounts to Puerto Rico.
- Cheques and money orders. While a slower option, these old-school payment methods are safe and effective.
In an emergency situation, sending money to Puerto Rico can be expensive. Bank transfers are not ideal for emergency situations, because of their longer processing times.
However, most independent providers allow you to send expedited payments with additional processing fees. Using a credit card can also save time, but expect higher fees with some providers for this method of payment.
What's the difference between sending with a bank and money transfer provider?
While you could choose the convenience of walking into your local Australian bank for a money transfer to Puerto Rico, you may pay a steep transfer fee to do so. With an independent money transfer specialist, you'll often pay a lower fee with better options for payment and delivery to your recipients.
How to send money to Puerto Rico
Regardless of how you choose to send money to Puerto Rico, you’ll usually need to set up an account.
Most banks and money transfer providers will require your name, contact information and government-issued ID. Next, you’ll provide the recipient’s name and contact information, how much you’re sending and how the recipient will receive it. If you’re sending a bank transfer, you’ll also need to provide the recipient’s bank name, SWIFT code and account number.
Once you’ve completed your transfer, the provider will confirm your transaction with a reference number. Use this reference number to track the progress of your transfer to receipt.
How can I compare money transfer providers?
- Fees. Fees can vary by provider, but your local banks will often charge more than you’ll pay with an independent money transfer specialist.
- Transfer options and speeds. Do you need to schedule your transfer online, by phone or in person? Confirm each provider’s method of payment and ask how long it will take for delivery.
- Minimum amounts. If a provider imposes a minimum limit on transactions, make sure this limit isn’t too high for your needs.
- Pick-up methods. Some providers allow for bank deposits only, while others may also offer the ability for your recipient to pick up your funds in cash.
- Customer service. Confirm whether customer support is available 24/7 by phone, email or live chat, if you encounter a problem.
Tips for picking up cash in Puerto Rico
When picking up cash in Puerto Rico, take a Spanish-speaking friend with you, if you don’t know the language. Only about 20% of those living on the island speak English and you can make expensive errors simply by not speaking Spanish. Never flash your cash when travelling and avoid dark secluded areas.
With so many options available, sending money to Puerto Rico should be a simple and painless process. By comparing your options, you can prevent unpleasant surprises like high fees and penalties for cash pick-up.