subject: Conduct Research Before You Choose A Way To Send Money To Nicaragua [print this page] Though U.SThough U.S. dollars are often accepted in Nicaragua, the official currency is the cordoba. $1 USD is equal to about 21 cordoba. A few versions of the cordoba have been in circulation, so you might hear references to the new and old types when you research the currency. Your relatives likely have some U.S. dollars since many places accept them, but the safest bet is to have most money in the form of the cordoba. Many U.S. banks do not send money to Nicaragua, so if you were considering that as your first option, you should find out about the others available.
If you choose to use a money transfer service, budget for anywhere from $12 to $40. The number changes depending on the company you go through and the amount you send. Try to find a company that can send money to Nicaragua within a few minutes for a low fee. Otherwise, it could take days for the money to arrive. Of course, the method you choose will probably depend on how fast your relatives need the money.
If you think your relatives will need money from you quite consistently, you might opt to mail them a prepaid debit card. This way, once they receive it, you can start adding funds for $5 each time. You can add up $1000 each day, and the fee stays the same. This is one of the cheapest ways to send money to Nicaragua. Your relatives can use it most retailers, since the majority in Nicaragua accept most types of cards. They can also withdraw cash when they need to, for a small fee of about 30 cordoba. The funds are typically available the day you send them, so as long as they have the prepaid debit card, they will not need to wait days or weeks to start spending the money on clothing, food, shelter, or anything else they need.
Being able to help out family when necessary is a good feeling for most people, but many feel helpless when their relatives need financial help and reside in another country. The many options to help you send money to Nicaragua can allow you to assist family members in need. You just need to do some research before you choose what the best way to send money to Nicaragua is for you.
by: Peter Frampton
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