Sending money via bank deposit to the Dominican Republic
As one of the world’s leading exporters of sugar and coffee, the Dominican Republic relies on its natural resources to keep its economy in good shape. But it also depends on people who send money to the island nation, such as immigrants who work in the U.S. and then make an online money transfer. One of the easiest and safest ways in which to do this is by a bank deposit, as the money gets to its intended destination quickly and securely.
Bank deposits to the Dominican Republic using Xoom have proven to be a popular because it can be safer for the recipients, as they can avoid having to pick up a large amount of cash in person, making them a target for thieves.
When sending a bank deposit to the Dominican Republic, keep in mind that the money will be deposited based on when the transfer was sent. During the week, deposits are usually completed between 10 a.m. and 3 p.m., the exception being Sunday, as banks are often closed. The time of day in which the transaction is made determines how early in the day it will be completed. For instance, if it’s sent before 9 a.m., the deposit will be made by around 10 a.m. If it’s before 2 p.m., plan for a 3 p.m. arrival. Any time after that and the transaction should be completed by the next business day.
You can’t go wrong with a bank transaction, as it provides senders and recipients with a certain sense of assurance.