How to send money to Puerto Rico

Compare fees and exchange rates to get the best deal on your next money transfer to Puerto Rico.

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Colorful houses line the hillside over looking the beach in San Juan, 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 from Australia, 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.

International Money Transfer Offer

WorldRemit International Money Transfers

  • Send cash online within minutes
  • Large range of destinations
  • No minimum transfer amount

International Money Transfer Offer

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

  • Minimum transfer amount: $1
  • Maximum transfer amount: $50,000
  • Online transfer fee: $3.99
  • Cash pick up available.
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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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 Within an hour AUD 3.99 0.674 USD
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 1 Within an hour AUD 210.00 0.659 USD
Fast cash pick-ups to more than 350,000 agent locations worldwide. Show details
AUD 1 Same day AUD 30.00 0.659 USD
Send money online to friends and family around the world with Western Union. Show details

Compare up to 4 providers

The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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 cash pick-up location or mobile wallet.
  • Through your bank. Not all Australian banks can help with your transfer to Puerto Rico, so it's best to ask.
  • Transfer companies with cash pick-up. Funds can be picked up at Western Union and MoneyGram locations throughout the island.
  • PayPal. While the fees might add up with PayPal, it can often be a convenient way to move your money to Puerto Rico.
  • Cheques and money orders. Although it's a slower option, you can buy an international cheque from your local post office or bank to mail to family and friends in Puerto Rico.

In an emergency situation, sending money to Puerto Rico can be expensive. Bank transfers are not ideal for emergency transfers, because of their comparatively 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. You also may not get a very good exchange rate. Banks and most money transfer companies add on a margin to the exchange rate to cover their own fees, and this is in addition to the transfer fee. As a whole, banks tend to have a much larger margin, meaning you could be losing out.

With an online money transfer specialist, you'll often pay a lower fee with a better exchange rate, and have more delivery options.

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.
  • Exchange rates. The exchange rates each company quotes you may not be the same. Compare against each other to find the best one, keeping in mind the different fees as well.
  • 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.

Bottom line

Whatever your reason for sending to Puerto Rico, avoid unpleasant surprises like high fees by comparing your options before you get started. To get the best value for money, look at the features of competing services before selecting a company to go with.

Picture: Shutterstock

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