Send money internationally to Honduras (HNL) using the mid-market exchange rate. Check and compare the rates from the major financial providers.
Send money to Honduras
What is the best HNL exchange rate today?
How much does it cost to send money to Honduras?
- International money transfers shouldn’t be expensive.
- Make sure your provider doesn’t add hidden fees or bad exchange rates to your money transfer.
- You should choose a provider that uses the mid-market exchange rate to convert your money.
Sending money to Honduras
A major part of the economy's income of the country come from the remittances from abroad; from those people living abroad for better salaries who send money back home to their loved ones.
660'000 Hondurans live outside their country. Although we find many in Spain, Nicaragua, Mexico, El Salvador, Guatemala and Canada, the majority are actually residing in the United States with 550'000 people.
They represent the third largest Central American community in the US. They are mainly settled in the states of Florida, Texas, California, New York, Louisiana, New jersey, Virginia and Washington D.C.
The country received 3.7 billions of US dollars in 2015, of which almost the totality were sent from the United States ($32 billion).
While almost all the remittances to Honduras come from the US we'll focus here on how to send money to Honduras from the United States.
International cash services
Honduras is primarily a cash economy so many transfers are made via cash services. Services like Western Union, MoneyGram, Xoom and Ria money transfer allow to receive cash in Honduras. To send money with these services you simply need to fill a form, provide an ID and indicate your recipient. The recipient goes to any agency, provides an ID, a reference number and collects the cash.
Since recently WorldRemit also offers to receive cash in Honduras and provides good rates. International cash services are the fastest option to send money to the country, not the cheapest.
U.S. bank transfer
Transfers from a US bank to a Honduran bank is possible but not all the banks allow these transfers. Ask your bank if they are able to send your money to the recipient's bank account in Honduras. Wells Fargo for example can do it, as well as Ficohsa bank which is a Honduran bank with branches in the US. Both the sender and the recipient must have a bank account with the bank. Be careful at the charges applied.
U.S. debit card
Fortunately it is easy and possible to withdraw cash at many ATM in Honduras with a US debit card. Ask your bank a debit card. It is a convenient way to have cash but not the cheapest.
Money transfer companies
This is probably the cheapest option. A large number of companies allow remittances to Honduras. You can choose to pay via debit, credit card or bank transfer and the recipient can receive the money in different ways. You know exactly the time of processing and the fees associated.