Send money internationally to Peru (PEN) using the mid-market exchange rate. Check and compare the rates from the major financial providers.
Send money to Peru
What is the best PEN exchange rate today?
How much does it cost to send money to Peru?
- 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.
Who sends money to Peru?
There are almost 1.4 million of Peruvian migrants spread worldwide. Besides the high number of Peruvians in the United States (around 450'000), there is no specific country where they're most represented. People from Peru are spread between North America (in the US), Latin America (especially in Argentina and Chile), Europe (mainly Spain and Italy) and a few in Asia (Japan).
All those people are sending money to Peru each year. They send money to their relatives because of better work opportunities abroad and they send money back to their Peruvian account to have savings there (to buy a house in Peru for example).
They are not the only ones in need to send money to Peru as this country is known to welcome a great number of visitors. Travelers to Peru need Peruvian Sols while visiting. People doing business with Peru are also in need of some good solutions to pay suppliers there or receive payments from abroad.
The country received the equivalent of 2.7 billion of US dollars in 2015. The remittances mainly come from:
- the United States (912 million)
- Argentina (408 million)
- Spain (363 million)
- Chile (276 million)
- Italy (212 million)
- Japan (131 million)
How to get travel money while visiting Peru?
There are three mistakes to avoid to get cash when you travel to Peru:
- Don't withdraw money regularly with your credit/debit card. You'll be charged with a fee each time you withdraw money at an ATM in Peru. So it is better to withdraw a lot at one time than to withdraw several times.
- Don't use your card to pay in shops and restaurants: merchants will charge a bad exchange rate. Otherwise you need to know exactly what is the real official exchange rate at this moment, to be aware of what you pay.
- Don't convert your money at the airport while landing or in hotels. You won't get the best rate there. Actually you would get the worst one.
If you want to get cash I recommend to either withdraw a big amount at one time or find a bank providing a good exchange rate (not easy...). You could also use a prepaid card. In all cases exchange your money in Peru and in advance in your home country.
How to send cash to someone in Peru?
Use a international cash service. The most well-known are Western Union, MoneyGram and Ria money transfer but they are not the only ones.
How to send money efficiently on a Peruvian bank account?
Use a money transfer operator allowing to send to a bank account. You can pay either by credit or debit card or by a bank transfer. Find the one with the best exchange rate thanks to a comparison platform for international money transfers.