Highest remittance rate for converting 1 EUR to DOP = 60.51
With so many available options to transfer money, one can find it difficult to identify the best way to send money from Germany to Dominican Republic. At ERIQ, we focus on providing such people with the best solutions to complete their transfer by analysing the available services. We go further to provide users with a simplified comparison of cash transfer services that can help them satisfy their need to send money from Canada to Kenya.
Many people are stuck between options when it comes to sending money from Germany to Dominican Republic because of the many available and confusing options. Thanks to Exchange Rate IQ however, you can quickly select a suitable money transfer service and learn how services like XE Money can make life easier for you.
Mid Market Rate
Mid Market Rate
According to the remittance reports, the EUR and DOP exchange corridor is one of the busiest with millions of money flowing through annually. It is believed that this is made possible by the high number of migrants from the Dominican Republic who reside in Germany. Nevertheless, outsourcing has made it much easier for companies in German to hire employees from the Dominican Republic remotely. All in all, the need for the most appropriate money transfer is high and everyone expects something different when it comes to the best way to send money from Germany to Dominican Republic.
Before diving in, it is important to acknowledge that money transfer between Germany and Dominican Republic is an activity that has been around for a very long time. However, if you have to send money from Germany to Dominican Republic cheaply, you will need to consider the following options;
Online cash transfer: This is one of the newest money transfer methods that have taken the world by storm. It is safe to say that online money transfer has opened up the global market and broken all boundaries that made international money transfer impossible. The good thing with online money transfer is that it is one of the cheapest ways to send money from Germany to Dominican Republic with services like XE Money offering free transfers. One of the biggest challenges of using online cash transfer services is that not all cash apps are available in every country. That means, some online transfer companies that are available in Germany don’t offer their services in the Dominican Republic. Some of the most used money transfer services that have been used to transfer money from Germany to the Dominican Republic include; Remitly, WorldRemit, Azimo, XE Money and Ria.
Cash delivery services: cash delivery services are some of the oldest international money transfer services that have ever existed. Today, these services remain relevant even after technology stepped in to make everything easier. One of the benefits of cash delivery services is that it is one of the fastest ways to send money from Germany to Dominican Republic. However, it is also good to know that the fast service comes at an extra cost and that applies even to instant online money transfer services. Some of the reliable options to go with here include; MoneyGram, Western Union, and Travelex.
Bank transfer: Bank transfers have been around for the longest time and today, they have managed to take advantage of the smartphone technology to provide us with mobile banking. The good thing with bank transfers is that they are important for legal transactions and you will hardly ever hear someone who has lost money that was being sent through a bank transfer process. Mobile banking allows you to initiate international money transfer through your phone and still make payments from cash apps and cash delivery services like the Western Union App.
Although it seems to be easy to send money from Germany to Dominican Republic, some people find it to be an uphill task simply because they don’t consider the following;
Cost of transfer: Without knowing how much it will take you to send money to the Dominican Republic, you stand the risk of not sending the money at all. That is because, you can find that the transfer cost is higher than what you expected. Even if you have to send the money in such a situation, you are likely to send less money.
Service duration: time is money and this is true in all aspects and it is why, you have to know how long it will take for your money to reach the Dominican Republic. That way, you can easily track the cash and ensure that it has reached its destination as required.
Service availability: One of the main reasons why EUR to DOPtransfers fail is because some senders don’t consider checking if the service they are using. If you do this and send money using a service that is only available in Germany and not the Dominican Republic, you will spend more on your transfer since the receiver is likely to receive less money than expected.
|Company Name||Live Exchange Rate|
|XE Money Transfer||RD$ 59.73|