Search for more countries in South America
If you are sending money to locations in South America then you are limited in to who you can use, see a list of approved and safe suppliers that can send your money internationally to South America.
Money transfer to South America Introduction
There are always downsides and upsides in bringing money into a country. This also applies to South America. If you happen to visit South America, you may have problems with money exchange, for instance converting an amount USD into countries like Argentine and Venezuela. In both countries, you may face the
challenges emanating from the high rate of Dollar-local currencies rates. On the other hand, there may be a country in the continent which would not make a holder of the dollar any better or worse.
An example is Ecuador, where the American dollar is the norm of the country's economy. This only goes to show how the dynamics are.
South Americas Brief Economic Trend
Bringing in money to South America may seem a good idea based on recent trends. After a long and painful decline in the regions countries economic fortunes, some of the countries are showing a promising trend.
In this Q1 of 2007, the overall regions economic expansion increased up to 0.8% annually. This may look like an insignificant figure but after seeing as how the regions economy kept souring since 2010, this increase was a good signs.
South American Substitute Currencies and Why?
In some South American countries other than the likes of Brazil, Chile, Colombia, Peru, Paraguay, Guyana, Suriname, and French Guyana, it is better if a visitor uses the local currencies. There are several benefits of using the local currencies. First off, they are flexible enough and enable you to obtain anything you may need as compared to the foreign currency.
It is also an excellent way of contributing to the countries welfare. By changing your country's money for a local currency, you unknowingly boost the rate of the local currency. Overall, bringing in money into South Americas countries, more so the American Dollar, is welcome due to possible higher exchange rates.
Any Restrictions and Issues in South America?
Cash money is not only an option when considering bringing into South America. They are options such as Visa Travel Money or Travellers Chequers. Both of them are welcome in almost all the countries on the continent. However, in Peru, the substitutes might not be warmly accepted, as the region has limited banks that could accommodate them.
Lately, with the advancement of information technology, the transfer of foreign money into these countries has become far easier. Western Union, for example, does its services in almost of the regions.
Bringing money into South America ?
Another option for bringing in money into South America is by card. For daily purposes and for maximum flexibility, the visitors could draw local money with their bank cards. Due to some country's financial security issues, you are advised to always draw money in some safe and official places so the card becomes an ideal
Main Bank in South America?
There are several banks in South America where a visitor could safely draw or save money. In Brazil, there is BTG Pactual. This bank is one of the main banks in the country, along with Banco Santander Brazil, Banco Bradeso, and several other names.
Argentina has Banco de Galicia, Banco Macro and Banco Santander Rio as their biggest banks. Banco de Crédito del Perú is one of the main bank in Peru. Overall, almost all the banks in South America have the same international standard in dealing with foreign money. This similarity is seen as an incentive for
international money transfers.
Sending a money transfer payment to South America with a bank is not the cheapest currency exchange method, Using a currency company will offer the best currency rate.