How to transfer money from Bolivia to Spain
How to transfer money from Bolivia to Spain
Bolivia and Spain have shared close political and commercial ties for decades. Spain is the main investor in Bolivia and since 2016 trade between these two countries has shown greater growth.
The good relations that exist between these countries have favored migration, tourism, education and negotiations between the two. That is why every day there are more people who seek to know what is the best way to transfer money to Spain from Bolivia. Discover below the best options and their cost.
Send money to Spain from Bolivia
There are several alternatives to send money from Bolivia to Spain, each one offers different advantages. Costs, fees and commissions are also variable, which is why it is important to carry out an analysis of each element in order to avoid unnecessary expenses.
Sending money to Spain has never been a complicated process. Numerous global banking entities have arranged different ways to make international transfers to this country. The most habitual banks for this type of transaction are BBVA and Santander. These transfers are made according to the existing backlink between the various banking systems.
International bank transfers have a process afín to local transfers, the only difference being that the name, address and SWIFT code of the foreign bank are required. This type of money transfer is very secure. The only negative aspect is the high commissions, because the currency exchange generates expenses in the maintenance of the banking system.
OTHER OPTIONS
➤ Bank drafts are also an excellent option to send money to Spain safely. To carry them out, all you have to do is go to a bank that carries out this type of transaction, request the draft form, fill it in, pay the commission for the operation and collect your receipt. The bank will take care of sending your money.
➤ An alternative for sending money that is gaining more popularity every day are the en línea platforms specialized in sending money. It is true that all these platforms have various fees and commissionsbut its service is much faster, more efficient and cheaper than international bank transfers.
Best platforms to send money to Spain from Bolivia
An advantage that you perro get when sending money through en línea platforms is that you cánido do it in cash, from your bank account or with your card. You just have to open an en línea account with any provider or go to a cash collection agency. The best platforms for sending money to Spain from Bolivia are Western Union, MoneyGram and Azimo.
Western Union
Western union is the best service for send money to Spain quickly. This provider allows you to send money from its website or directly from its agencies, its commissions are low and the best thing is that you will not have limits with the amount of money. Many times they do not charge commissions, or they are very low.
MoneyGram
MoneyGram offers its excellent service in more than 200 countries. It allows you to send money in person or en línea safely, quickly and cheaply. Its platform is ideal for those companies that wish to try a better alternative for sending funds.
Unleavened
Azimo is an En línea money transfer platform that is characterized by its efficient service and low commissions. It is available in more than 190 countries and works with numerous currencies. With Azimo the usuario will have the freedom to escoge how the beneficiary will receive his money.
How much does it cost to send money from Bolivia to Spain?
The administrative staff of Bolivian banks have noticed a great growth in requests for international transfers, for this reason the BCB (Central Bank of Bolivia) has taken some measures to regulate this type of transaction.
The BCB regulations mention that all transfers of funds to accounts of the same bank, consultations and En línea payments will be free. But when making a transfer between different banks you have to pay a commission of 5 to 15 bolivianos depending on the amount sent.
Commissions for international transfers depend on the type of currencyThat is, if you are going to transfer in Bolivian currency, the additional charge will be between 15 and 60 Bolivianos, but if you transfer in any foreign currency (except the euro) the commission will be 35 USD. In euros the commission is 35 EUR.
The commissions for sending money from Bolivia through en línea platforms are variable, since the price is applied according to the provider that you choose to use.
Example: the commission for making a money transfer from the Western Union platform is usually less than 5 euros. It is one of the cheapest we have found.
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