Money transfers are distributed through our correspondent network overseas, our Dominican branches or the Cashpin VISA Card.

Correspondent Network: Quisqueyana maintains a network of 47 correspondents with over 6,000 Pay-out locations in 26 countries.   The correspondents are bank and non-bank duly licensed entities in the beneficiary country. They are responsible for the delivery of funds to the beneficiary. Quisqueyana has written "Know Your Correspondent" compliance procedures that are followed with respect to each correspondent.

Branches: Through Carioca , our home delivery operation in the Dominican Republic, we deliver to anywhere in the country, typically within four hours of receipt of the transaction file from RQI's central database in New York. Carioca uses a customized version of Qe to track deliveries at any time from the receipt of the transaction file until the delivery of funds to the beneficiary.

Cashpin Visa Card:  The Cashpin Visa card is a prepaid rechargeable card to which customers can send and deposit cash.   In Mexico, the cards are issued by HSBC México under the "La Efectiva" brand, and in the Dominican Republic by Republic Bank (formerly Banco Mercantil) under the Cashpin brand. Money transfers made through Cashpin are immediately available to the beneficiary.   Beneficiaries can use the card to withdraw cash from any Visa Electron-affiliated ATM and at any merchant that accepts VISA.  

The Pay-out process begins once a correspondent, branch or Cashpin receives the transaction file electronically from our central office.   This usually occurs within minutes of the receipt of the money transfer by a Point of Service. Depending on the country and/or the sender's choice, the money is delivered using one of the methods described above. Our processing system tracks how much we owe a correspondent at a given time and we deposit funds with them accordingly.

We have recently developed a "real-time" systems interface for our correspondents. The system has been implemented with Bancomer Transfer Services, our Pay-out correspondent in Mexico, as well as one other correspondent. We are working to bring other major correspondents on-line. This is the first of a series of interfaces in which information is shared real-time through a highly automated Virtual Private Network (VPN) interface. Transactions are available in the recipient country immediately when the Point of Service transmits transaction data to Quisqueyana's server, unless retained by our AML or Credit Division. Real-time status updates allow Point of Service personnel to easily determine transaction status without having to contact the central office.

Our correspondents and branches electronically update the status of each money transfer up to and including delivery, at which point transaction chain concludes.