Need to wire money to Puerto Rico? Considering a bank wire to transfer money to Puerto Rico? Before you walk into your bank to do it, be sure to check the wire transfer fees. It may come as a shock how much the costs will be and depending on the transfer amount, it might not be worth sending the money by bank wire transfer to forward the money using another method.
What makes even worse is in addition to your financial institution adding a fee for sending the funds to a place in Puerto Rico, the individual receiving the money transfer may incur a fee at their end. One way to minimise the possibilty of this fee is to send the international wire transfer in the currency of their bank account.
To make a wire transfer to Puerto Rico, you may need a SWIFT code. These are different codes for each bank and are based on references including the bank and country.
SWIFT Country Code
Central Bank Name