Best ways to make a money transfer To Bolivia?
Looking for the best method of sending money to Bolivia? The good news is, it a whole lot easier than you think depending on what side of the world you are in. In this article, we will assume you are based in the UK and looking to send money to someone in Bolivia You have two easy ways to do so. They are:
Use Western Union Money Transfer
No doubt the fastest, safest, and easiest; Western Union Money Transfer allows you to send small amounts of money to anyone in most of the world with a branch office, and they will receive it almost instantly - without any delay.
If you prefer sending money online, you will need a profile so create one if you don't already have it. You'll also need a credit card or a bank account linked with your profile from which money will be deducted each time you send. You will also pay a certain percentage depending on how much you are sending at a time.
After each send, you will be provided what is called a Money Transfer Control Number (MTCN). You will also have the option of filling in a security question and an answer. The receiver will need both the answer and the MTCN to cash the money successfully, and you will be notified as soon as they do so.
Use Bank Transfer
Another method of sending money abroad is via traditional bank transfer. However, this usually takes 3 to 5 working days to process unlike the Western Union Money Transfer described above. That said, you may need an account with the bank if you choose to be sending money abroad through them. Banks too charge commission each time you send because that is how they make their own money to stay in business.
These two ways of sending money abroad are highly efficient, so the choice is yours to make depending on your location, that of the receiver, and how much you are sending.
Traditional transfers as mentioned bank to bank transfers can take up to a week to be processed, which is a long time. This means that your recipient in Bolivia will have to wait one whole week before they can access the funds that were sent to them. Obviously there are times when you need to send money to Bolivia quickly and a traditional bank to bank transfer simply will not do. In order to cope with the demand for fast currency transfer there needed to be a new way to complete a money transfer to Bolivia.
Moving with the times
Money transfers to Bolivia have certainly moved with the times and these can now be completed in the space of a few minutes. With more and more online providers offering a fast currency transfer to Bolivia you will be able to find a provider that suits you. Not only that but you will also be able to save yourself money on fees when you use this method.
Online tools can help
As well as being able to complete your transaction online there are also online tools that can help you with the process. There are few people who know instantly what the exchange rate is between their country and Bolivia. To find out the currency rate Bolivia are using at any time use a currency converter. Here you can easily convert your currency and see how many boliviano you can get for your money.