Find the best providers to send money to Puerto Rico
Our real-time comparison engine finds the cheapest providers for your transfer to Puerto Rico, you save on fees and exchange rates. That way, more money arrives.
How to send money to Puerto Rico
Learn how to send money to Puerto Rico at the best rate in a few easy steps
1. Check the USD mid-market exchange rate against your sending currency
Although the currency market is fluctuating, it is a good idea to keep an eye on it in order to maximize how many you will receive against your sending currency. Keep an eye on the evolution of the United States dollar mid-market and send the money at a favorable moment.
2.Select the best deal by comparing the 25 available providers.
Monito's comparison engine lists quite a few services to make money transfers to Puerto Rico, such as TransferWise, Western Union, MoneyGram, CurrencyFair, Currencies Direct. Selecting the right company from the more than 25 available options is the best way to save on fees and exchange rate.
3.Choose the best option with your own criteria
Search for the option with the lowest total cost, the shortest transfer time, best customer ratings, or other criteria.
4. Sign up and start your transfer to Puerto Rico with the money transfer provider you selected
Now is the time to sign up on the money transfer provider's online portal (you normally have to give some information to confirm your identity), and get started with 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.