How to send money to Barbados
Discover how to make a money transfer to Barbados at the lowest cost in a few easy steps
1. Check the BBD interbank exchange rate against your own currency
Making your transfer on a date when the mid-market is higher than usual is a good way to optimize your transfer. It might be interesting for you to take advantage smart alerts to check the BBD mid-market's evolution.
2. Find the optimal option by comparing all services.
Monito's comparison engine lists 15 providers to send money to Barbados, such as TransferWise, Western Union, MoneyGram, Currency Solutions, Xendpay. Save money by comparing them all to find the most competitive one for your transfer.
3. Select the best option for your personal needs
Based on which criteria will make your choice? Price, speed, number of positive evaluations? Consider the pros and cons before selecting the provider.
It is also important to take into account the payment solution and pay-out options. You can have providers giving you the option to wire the money from your bank account, some will also give you the option to pay by credit and debit cards. In Barbados, you can decide if your want the amount in BBD to be transferred to your recipient's account or be available for cash pick-up.
4. Sign up and start your transfer with the company of your choice
Visit the provider's homepage to complete the sign-up process (you most of the time have to provide some ID documents to prove your identity), and configure your transaction.