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John Warner, Daniel Toribio. Photo elnuevodiario.com.do
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SANTO DOMINGO.- The administrator of the State-owned bank Reservas (Banreservas) announced an agreement signed with the United States-based MoneyGram International on Monday, to send and receive remittances from around the world.

 

Daniel Toribio, noting that remittances are one of the main sources of currencies for Caribbean and Latin American countries, said the agreement which takes effect immediately, benefits Dominican families which receive income from abroad.

 

He affirmed that while Banreservas is the Dominican banking leader with nationwide presence and assets of more than RD$156 billion, MoneyGram is a prestigious global remittance company with agents in 190 countries. “Both companies combine their strength to give their clients a new service to receive and send  money, supported in Banreservas’ ample national presence.”

 

Toribio made the announcement in Banreservas’ main offices, in the presence of MoneyGram executive vice president for Latin America, John Warner.

 

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COMMENTS
4 comment(s)
Written by: xwill7, 22 Sep 2009 4:28 PM
From: United States, Chicago
will it be free to send money now or will they continue to have their hands in our pocket?
Written by: juanb, 23 Sep 2009 1:12 AM
From: Dominican Republic
If they are smart (ha ha ha ha ha) they will charge left than Vimenca (a rip off) and quickly take over the business. I guess there is no chance of that happening.
Written by: NYCDR, 23 Sep 2009 7:44 AM
From: United States
xwill7, that is a good question. What are the fees for services?
Written by: xwill7, 23 Sep 2009 2:24 PM
From: United States, Chicago
western union charges around $10 USD for around $100USD. zoom is the cheapest one that I have found they charge around $5USD for $100USD sent. Then they wonder why people do not send as much... Most people try to wait until a family member travels to DR and send the money with that person.
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