Home / Best money transfer to Venezuela • Cost, duration, comparison

Best money transfer to Venezuela • Cost, duration, comparison

Best money transfer service to VenezuelaVenezuela has been known for a long time due to government restriction when it related to international money transfers.

For many years the government of Venezuela has made it difficult for people to send money to this country.

In June 2018 there was breakthrough since MoneyGram began operating in Venezuela.

Comparison: Best Transfer Money to Venezuela

Winner

TransferWise reviews

TransferWise

First Transfer Free!

  • Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.

Best-money-transfer-Currencyfair

currencyfair

Five Transfers Free!

  • A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.

TransferGo Reviews

transferGo

Send money very fast!

  • Save up to 90% compared to banks. No hidden costs. Large selection of countries.
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Azimo Reviews

AZIMO

First Transfer Free!

  • Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
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EUR

How can I send money to Venezuela

Sending money to Venezuela is still a big problem since their strict government regulation barred various money transfer providers for providing their services in this county.

Therefore if you want to send money to this country you have limited options currently since the only online money sending company operating in Venezuela is MoneyGram.

Bank transfer to Venezuela is expensive

Venezuela has strict policies when it comes to international money transfers.

Therefore their banks offer very poor exchange rate and there no available alternatives that you can choose from since exchanging using third-party companies is technically illegal in Venezuela. This makes banks transfer to Venezuela very expensive and stressful.

Money transfer provider

As compared to other countries, when you want to transfer money to Venezuela you have limited options. Currently, the only online option of sending money to Venezuela is MoneyGram. Other available money transfer providers are OFX and Ria.

How much does it cost to transfer money to Venezuela

The transfer cost will depend on the company used for the money transfer since each company unique pricing.

For example:

  • MoneyGram will charge you approximately 31.00 USD for every money transfer made to Venezuela.
  • Ria will charge 3.99 USD forever money transfer to Venezuela.
  • OFX will offer free money transfer to Venezuela.

Duration of a money transfer to Venezuela

Just like cost, duration taken for the money transfer depends on the choice of money transfer provider used for example:

  • MoneyGram
  • OFX
  • Ria

MoneyGram

It will take a few minutes for the cash to be available to your beneficiary in Venezuela.

OFX

It will take approximately 24 hours your beneficiary in Venezuela to access the cash.

Ria

Its turnaround time is 3-5 days.

Conclusion on the money transfer to Venezuela comparison

As compared to other countries Venezuela has limited options when it comes to money transfer providers that can help in money transfer to this country.

The existing money transfer agencies in Venezuela are also quite expensive and the cheaper options such OFX is difficult to use dues to its high minimum transfer rate that is accepted.