"ENVÍOS GRATIS" DE REMESAS A LA REPÚBLICA DO MINICANA: UNA ILUSIÓN ÓPTICA.

A broad competition in the remittances market of Puerto Rico, mainly in companies sending money to the Dominican Republic, has created a market that advertises "free remittances" in pesos. Far from being for free, these companies are charging between USD 7 and USD 13 per transfer of USD 200. Free remittances is a deceitful advertisement to attract clients resulting in a more expensive service compared to those remittances received in dollars with a cost between 3% and 5%. This study is a detailed analysis of the explicit and implicit costs in the remittances market to the Dominican Republic. [ABSTRACT FROM AUTHOR]