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Top 3 Money Transfer Providers for UK to Dominican Republic

Provider Amount Received Fee Exchange Rate Speed
Azimo Azimo DOP RD$ 14,391.10 No Fee 71.9555 1-5 days more...
MoneyGram MoneyGram DOP RD$ 13,902.99 £5.00 69.515 more...
Rates From The Average UK High Street Bank Rates From The Average UK High Street Bank DOP RD$ 13,484.64 £9.50 67.4232 1-5 days more...
FXcompared Country Guides
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
Dominican Republic
The official currency of the Dominican Republic, the Dominican peso (DOP, denoted RD$) is on a crawl-like exchange rate arrangement with the US dollar (USD) Read More

Dominican Republic Money Transfer Guide

Daniel Webber
Daniel is Founder and CEO and has 20 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely quoted as an expert within the money transfer industry including by The Economist, The Wall Street Journal, Reuters, CNBC and Bloomberg. Daniel is passionate about helping consumers and businesses find the best and most efficient ways to transfer money internationally.


  • Summary
  • Dominican Republic money transfer regulations
  • Dominican Republic economic background
  • Dominican Republic monetary and regulatory authority
  • Currency
  • Summary

    The official currency of the Dominican Republic, the Dominican peso (DOP, denoted RD$) is on a crawl-like exchange rate arrangement with the US dollar (USD). Currency transfers and sending money to and from the Dominican Republic are not restricted. Transferring money out of the country in amounts above RD $10,000 requires various registrations and declarations.

    Dominican Republic money transfer regulations

    The Dominican Republic has no foreign exchange controls in place and does not restrict international money transfers. The country places some restrictions on the import and export of liquid currency, however and requires amounts be declared when transfers exceed RD $10,000. The limit for import and exports of Dominican pesos is of RD $20,000 for banknotes and RD $100 for coins. When bringing more than US$10,000 of foreign currency into the country, it is required to declare it upon arrival. When exporting amounts in excess of USD $10,000 it may also be required to show proof of ownership. The currencies that are most frequently exchanged with the Dominican peso are the US dollar, the Canadian dollar, the UK pound, and the European euro.

    Dominican Republic economic background

    The second largest economy in the Caribbean, the Dominican Republic has shifted from a predominantly agricultural economy to one based on tourism and services. Its economic growth over the past two decades has been possible due to its strategic location in the Caribbean and its entering into a free trade agreement with the United States (CAFTA-DR). Despite this growth, opening a business in the Dominican Republic can be challenging, mostly due to bureaucratic hold ups. The process requires seven different steps and it takes over 150 days to receive the necessary permits to open a business. In addition, the up front capital required is equal to half the average annual income.

    Once viewed primarily as an exporter of coffee, sugar, and tobacco, the Dominican Republic is now services oriented, reaching a GDP of USD $61.16 billion in 2013. Highly dependent on its relationship with the US, which receives half its exports, the country has registered significant growth in the tourism and telecommunications sectors and in free zone trade. 5% of the Dominican Republic’s GDP is derived from remittances from Dominican expatriates living and working in the United States; the Dominican republic does not restrict overseas money transfers for personal remittance payments.

    Dominican Republic monetary and regulatory authority

    The Banco Central de la República Dominicana is responsible for regulating country’s banking and monetary system. Created in 1947 and serving as an independent organization, the Central Bank is governed by Monetary and Financial Law. The Central Bank is also responsible for the execution of the foreign exchange and monetary policy, the issue of banknotes and coins, and the management of the contingency fund.


    The official currency of the Dominican Republic is Dominican PESO (DOP), denoted RD$. Banknotes are in denominations of: RD $2,000, 1,000, 500, 100 and 50, while coins are available in denomination of RD $ 25, 10, 5 and 1. The Dominican peso is not available outside of the Dominican Republic.

    Top 4 Money Transfer Providers


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    Transparency and security | Great customer feedback rating from Feefo

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    OFX (US)

    Est. 1998

    OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.

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    Currencies Direct

    Est. 1996

    Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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    Est. 1979

    One-off payments | Regular payments | Great rates | Safeguarded customer funds

    More InfoLess Info is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.