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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. An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.International Money Transfer Offer
WorldRemit International Money Transfers
International Money Transfer Offer
A territory of the USA, Puerto Rico uses the US dollar as its official currency.
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.
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.
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.
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.
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.
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.
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
