How to Send Money to Chile - The Easiest and Safest Methods? How often do you transfer money to Chile? Whether you use such service once in a while or all the time, there are charges that every international money transfer service will charge you.
Chile has one of the most vibrant economies with a GDP of around $247 million in 2017. Since 2015, the country is considered high-income economy by the WTO. Though some investors consider the Chilean economy as commodity based economy still financial services and industry also contribute a significant part to the economy.
Possibilities are that you don't know about the hidden charges in advance but there could be hidden ways in which the online service provider will monetize your money transaction facility. If you want to transfer money to Chile via Western Union, Money Gram, Travelex, Xoom or World Remit, there will be extra charges that you have to pay.
Sending money online through online transfer service provider is the best way to transfer money to Chile. You can even do so from the comfort of your home and you will be free from the restricted limited hours of the banks. The service that these online money transfer services offer really differs to the service provided by banks. They are authorized by Superintendencia de Valores y Seguros for the provision of payment service.
You can also transfer money to any bank account in Chile. Banco Itau, Banco Security, Corpbanca, Banco BCI and Banco de Chile are some of the leading banks in Chile that offer you the convenience of transfer money through a very safe channel. These banks even enable walk in customer without a bank account to transfer money to a bank account anywhere in Chile. However, you will have to pay extra charge while availing this service.
However, the online money transfer services have recently simplified their services in order to provide a simple and inexpensive service. All you have to do is to open a free account and add beneficiary by telling the bank account details, address, and name along with SWIFT code of their banks.
These websites also show the money exchange rates on their web pages which will change every time there is currency fluctuation.
Direct instant transfer? If you opt for a direct instant transfer when you send money to Chile you will be using the fastest method possible. This method is so fast that your recipient will be able to collect their money instantly without having to wait at all. Most people will choose this method as they know that it is fast, reliable and secure. In addition to this as soon as you have set up an account with an exchange broker you can then make a regular currency transfer to Chile whenever you like without having to fill any forms in.
Another way that some people like to use to complete a money transfer to Chile is to send travellers cheques. These can be sent in Chilean pesos or in US dollars as both of these currencies are accepted in cambios (money exchanging services) and the banks alike. However you do need to be aware that sending travellers cheques through the mail can be quite risky, so it is probably best not to send too much money this way.
Send your recipient a prepaid credit card
If your recipient wants to be able to spend money on a credit card you can send currency on one that is prepaid. Before you load the card however check the currency rate Chile are following and get more for your money. Wait until the exchange rate is good and bad money to the card and your recipient will benefit from this.