Send Money to Guatemala Using One of Two Popular Options
Send Money to Guatemala Using One of Two Popular Options
One of the most typical ways people think to send money is through a bank. You might consider either your own, or a different one with a local branch. It is usually a good idea to compare fees among banks before you send money to Guatemala, and you should also make sure that your relatives have an account before you go this route. Some banks will allow you to send money to Guatemala in cash, so your recipient can just pick up the money at an appointed locale, but not every bank does this.
Wells Fargo is one bank that offers a special service just for sending money to certain countries. It is called ExpressSend, and typically costs $5 to $7 to send money to Guatemala. The minimum that you have to send is $25, and the maximum is $2500. The money will be sent to one of a few banks in Guatemala, either Banco Industrial S.A., or Banco de Desarrollo Rural S.A. Depending on the branch, your relative might be able to pick up the cash at a bank, which will be in the form of Guatemalan quetzales. Currently, $1 USD equals 8.31 quetzales, but this rate changes often. If your relative has an account at one of the banks to which the money will be sent, you can just send it to their checking account. Note that you do not have to have an account at Wells Fargo to use this service, but it will likely be cheaper and easier if you do, especially if you need to send money to Guatemala often.
If you do need to remit money regularly, you could use another option. A prepaid debit card can be sent to your relatives, and it only costs $5 to add funds to it, no matter how much you add at once. There are no minimums or maximums, and there are only a few small fees for your recipients. For example, it should cost less than 25 quetzales for your relatives to withdraw money from an ATM, and usually about 10 for them to make purchases with their prepaid debit card. It is a convenient and cheap option should you have to send money to Guatemala regularly.
There are a few other options that some people use to transfer money, but these are the most popular. They are also the cheapest in general, and can make it easy for your relatives to receive the money they need fast. Of course, it helps that such methods use some of the latest technology when it comes to sending the money. Your relatives will likely appreciate you using one of these options rather than sending a check in the mail.
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