Money Transfers to Guyana

Western Union
FCA Regualted: FCA Regulated
Margin Rate: 4%
100,000 gets you: 96,000 GYD
CanadianForex
FCA Regualted: FCA Regulated
Margin Rate: 1%
100,000 gets you: 99,000 GYD
USForex
FCA Regualted: FCA Regulated
Margin Rate: 1%
100,000 gets you: 99,000 GYD
Bank of America
FCA Regualted: FCA Regulated
Margin Rate: 5%
100,000 gets you: 95,000 GYD
PayPal
FCA Regualted: Not FCA Regulated
Margin Rate: 5%
100,000 gets you: 95,000 GYD

Restrictions on currency
If you are importing local currency into the area there are certain restrictions. Currently this is G$200 and anyone who exceed this limit can be prosecuted. So if you are looking to arrange a currency transfer to Guyana you need to be aware of this. In other words if you want to send (import) more money into Guyana you will need to do so in foreign currency. For example, send your recipient travellers cheques in foreign currencies such as US dollars as they will be able to exchange these quite easily.

Never do anything you are unsure about
As with any type of financial advice it is important that you don't use any form of money transfer that you are not completely happy with. So before you transfer money to Guyana make sure that you thoroughly research the method that you are interested in using. Do this and you will satisfy yourself that you are using legal means to get money to your recipients.

Know the banking hours
Know the banking hours In addition to understanding the means of completing a transfer of money to Guyana it is also important to know when the banks are open. This is usually between 8 AM and 12:30 PM Monday to Thursday and 3 PM to 5 PM on Fridays. Banks will usually exchange money and also keep you up-to-date with the latest currency rate Guyanese Dollar is being exchanged at. Although finding out the exchange rate is free you will usually be charged a fee for the actual service.