How to send money to Puerto Rico
Learn how to make a money transfer to Puerto Rico with the best providers in 4 easy steps
1. Make sure the United States dollar conversion rate is interesting
Even though the evolution of the exchange rate is impossible to predict, it can help you save money to monitor it to optimize how much the recipient will get. Track the exchange rate and make your transfer when the USD rate gets to a specific level.
2. Make your choice among the 26 money transfer companies sending money to Puerto Rico to find the best option.
We compare quite a few providers able to send money to Puerto Rico, such as TransferWise, Western Union, MoneyGram, Currencies Direct, CurrencyFair. Going with the best provider from the more than 26 available options is the best way to save money.
3. Select the best service for your needs
Do you need to make a transfer to Puerto Rico with the most competitive provider, with the fastest option or with the provider with the best ratings?
It is also important to pay attention to the pay-in and pay-out options. Local bank transfer, debit and/or credit cards are the most common payment options to send money to Puerto Rico online. To receive the money in Puerto Rico, you often have to decide if you want the converted amount to be transferred to your recipient's account or received in cash (from an agent location).
4. Sign up and get started wih your money transfer with the money transfer provider you selected
Go to the money transfer provider's homepage to go through the sign-up process - be ready to give an offical ID and/or a proof of adress - and configure your transaction.
Almost two thirds of Puerto Ricans are living in mainland USA, from which they regularly send money back to their families and friends who stayed in Puerto Rico.
The fact that Puerto Rico is an unincorporated US territory and use the US Dollar (USD) make these transfers relatively easy and cheap. As there is no currency conversion, no need to worry about losing money with poor exchange rates, and traditional money transfer operators such as Western Union or Moneygram are generally offering competitive fees.
On the other hand, if you need to send money to Puerto Rico from outside the United States (from Canada or from Europe for example) comparing your options may help you save a lot of money on your transfers.
Most of the providers offering transfers to the United States will be able to send money to Puerto Rico. The cheapest option for your transfers will usually be using an intermediary such as CurrencyFair or TransferWise from your bank in the country from which you’re sending money and the bank account of the recipient in Puerto Rico. Using our real-time comparison engine above, you’ll be able to find the best providers for the exact transfer you need to do.