How to Send Money From Puerto Rico to USA

Sending money from Puerto Rico to the mainland United States is a domestic transfer, as Puerto Rico operates within the U.S. financial system and uses the U.S. dollar. This simplifies the process compared to international transactions. This guide explores common methods for transferring money from Puerto Rico to the USA, outlining their procedures, fees, and processing times.

Bank Transfers

Traditional bank transfers offer a secure and reliable way to move funds between Puerto Rico and the U.S. mainland. The two primary types are wire transfers and Automated Clearing House (ACH) transfers, each with distinct characteristics regarding speed and cost.

Wire Transfers

Wire transfers facilitate rapid movement of funds, often completing on the same day or the next business day. To initiate a wire transfer, either in person at a bank branch or through online banking, you will need specific recipient details. These include the recipient’s full name, address, bank name, bank address, account number, and routing number. Wire transfer fees can vary, generally ranging from $25 to $50 per transaction. Some banks in Puerto Rico may charge a commission based on a percentage of the transfer amount, often with a minimum and maximum fee.

ACH Transfers

ACH transfers are electronic funds transfers processed through a batch system, making them less expensive than wire transfers. This cost-effectiveness comes with a longer processing time, typically ranging from one to three business days. The information required for an ACH transfer is similar to that for a wire transfer: the recipient’s bank name, account number, and routing number. These transfers can usually be set up through online banking platforms or mobile banking applications.

Online Money Transfer Platforms

Digital platforms and mobile applications provide convenient alternatives for sending money from Puerto Rico to the U.S. These services often feature user-friendly interfaces, competitive fees, and varying transfer speeds.

PayPal

PayPal is a widely used platform in Puerto Rico for sending and receiving money, as well as for online purchases. Users can link their bank accounts or credit cards to their PayPal accounts. Sending money within the U.S. using a PayPal balance or linked bank account is generally free. Transfers funded by a credit or debit card may incur a fee, typically around 2.9% plus a fixed fee.

Xoom

Xoom, a service offered by PayPal, specializes in online money transfers with various delivery options. It allows users to send money directly to bank accounts, debit cards, or for cash pickup at thousands of locations in the U.S. Funds sent to bank accounts typically arrive the next business day, while deposits to eligible debit cards can be processed within minutes. Xoom displays fees and exchange rates upfront before a transaction is initiated, ensuring transparency.

Wise

Wise (formerly TransferWise) is another popular option for sending money from Puerto Rico to the U.S., often highlighted for its competitive fees and exchange rates. Transfers through Wise typically involve sending money from a bank account in Puerto Rico to a recipient’s bank account in the U.S. While fees and transfer speeds can vary based on the payment option, credit card payments may offer faster processing. Wise is noted for its low-cost transfers and may be a cost-effective choice for larger transfer amounts.

Zelle and Venmo

Zelle and Venmo are widely used peer-to-peer payment applications within the U.S., supported in Puerto Rico. Zelle is designed for transfers between U.S.-based bank accounts, meaning residents with compatible bank accounts in Puerto Rico can use it. Most U.S. bank accounts linked to Zelle do not charge fees for sending or receiving money. Venmo is also available in Puerto Rico, allowing users to send and receive money, manage balances, and use associated cards. Standard Venmo fees, such as those for instant transfers to a bank account or credit card payments, would apply.

Money Orders and Other Physical Methods

For individuals who prefer non-digital or physical transactions, money orders and other services offer viable ways to send money. These methods are suitable when a bank account or online platform is not preferred or available.

Money Orders

Money orders are a secure way to send a specific amount of money, functioning similarly to a check. They can be purchased in Puerto Rico from various locations, including post offices, certain retail stores, and banks. After purchase, the sender fills out the money order with the recipient’s information and mails it to the U.S. Money orders have limits on the amounts that can be sent, and their delivery time depends on postal services.

Cashier’s Checks

Cashier’s checks provide another secure, physical option for transferring funds. These checks are drawn on the bank’s own funds, guaranteeing payment once issued. A cashier’s check can be obtained from a bank in Puerto Rico, typically for a fee. Once issued, the check can be mailed to the recipient in the U.S., offering a reliable method for larger sums where a physical document is preferred.

Cash Pickup Services

Cash pickup services, such as Western Union and MoneyGram, allow for quick transfers of cash from Puerto Rico to the U.S. Senders can deposit cash at an agent location in Puerto Rico, and the recipient can pick up the cash at a participating location in the U.S., often within minutes. These services are useful for urgent transfers or when either the sender or recipient does not have a bank account. Fees for these services can vary based on the amount sent and the destination. Senders must provide identification, such as a U.S. driver’s license or passport, when initiating the transfer.

Important Factors When Sending Money

When choosing a method to send money from Puerto Rico to the U.S., several factors warrant consideration to ensure an efficient and secure transaction. Understanding these aspects helps in selecting the most appropriate service for individual needs.

Fees

Fees associated with money transfers vary significantly across different providers. Some services may charge a flat fee per transaction, while others might impose a percentage of the transfer amount. It is beneficial to compare the total cost, including any potential hidden charges. Some providers may offer lower fees for bank-to-bank transfers compared to those funded by credit cards.

Transfer Limits

Transfer limits differ widely by service and transaction type. Banks and online platforms impose daily, weekly, or monthly limits on the amounts that can be sent. For larger transactions, verify these limits beforehand to avoid delays or the need for multiple transfers. Some banks in Puerto Rico may allow transfers of up to $5,000 daily or $10,000 monthly for standard methods, with higher limits for business accounts.

Speed of Transfer

The speed of transfer is an important factor, especially for urgent financial needs. Digital platforms and wire transfers often offer faster delivery, with some online services providing instant transfers or completion within minutes to a few hours. Traditional ACH transfers typically take one to three business days, while physical methods like mailed money orders or cashier’s checks depend on postal delivery times. Faster transfer options may sometimes come with higher fees.

Required Information

Required information for sending money includes the sender’s identification, such as a valid government-issued ID, and comprehensive details about the recipient. For bank transfers, this means the recipient’s full name, address, bank name, account number, and routing number. For cash pickup services, the recipient will need to present identification to collect the funds.

Security

Ensuring the security of your funds and personal information is important. Choose reputable money transfer services that employ robust security measures like data encryption and fraud detection. Being aware of common scams and verifying the identity of the recipient are also important steps to protect against financial fraud.