For transfers over $1,000, Wise usually offers the best overall value — low fees and mid-market exchange rates. For smaller amounts or cash pickup, Remitly or Western Union may be faster.
Cheapest Ways to Send Money to Send Money from USA
Compare Remitly, Western Union, and Vigo for USD to DOP transfers. Guide for Dominicans in the US.
Comparison: Top Remittance Services
| Service | Transfer Fee | Exchange Rate | Speed | Limits |
|---|---|---|---|---|
| Wise | $3-8 | Mid-market rate | 1-2 days | $1M/yr |
| Remitly | $0-4 | ~0.5% spread | Minutes to 3 days | $30K/day |
| Western Union | $0-5 | 1-3% spread | Minutes | $5K/transfer |
| Bank Wire (SWIFT) | $25-45 | 2-4% spread | 2-5 days | Varies |
| Zelle/Venmo | N/A | N/A | Instant | US only |
How to Send Money Internationally
Transfer money internationally with real mid-market rates and low fees. Trusted by 16M+ customers.
Send Money with Wise →
Step 1: Choose Your Service
For transfers over $1,000, Wise usually offers the best overall value — low fees and mid-market exchange rates. For smaller amounts or cash pickup, Remitly or Western Union may be faster.
Step 2: Set Up Your Account
You'll need:
- US bank account or debit card
- Recipient's bank account details (IBAN or account number + routing/SWIFT/IFSC)
- Government-issued ID for compliance
Step 3: Verify Your Identity
All services require identity verification (KYC) per US regulations. Have your passport or driver's license ready.
Step 4: Schedule Regular Transfers
If you send money regularly, set up recurring transfers. Wise and Remitly both offer autopay — and some services offer rate locks to protect against currency fluctuations.
Tax and Reporting Rules
- Transfers over $10,000 may be reported by your bank to FinCEN (Bank Secrecy Act)
- You are NOT taxed on money you send — only on income earned
- Recipients in some countries may owe local gift or income tax — check local rules
- If you're sending to support family, this is generally not a taxable gift in the US (gift tax exclusion is $18,000/year per recipient for 2025)
Tips to Get the Best Rate
- Send larger amounts less frequently to minimize per-transfer fees
- Avoid sending on weekends when markets are closed — rates can widen
- Use the recipient's local bank account (not cash pickup) for the best rates
- Compare rates on the day of transfer — exchange rates fluctuate daily
Useful Resources
- Wise — Usually lowest fees for large transfers
- Remitly — Fast with first-transfer promotions
- Western Union — Best for cash pickup worldwide
- XE.com — Real-time exchange rate tracker
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