How to send money to Chile
Discover how to transfer money to Chile at the lowest cost in 4 easy steps
1. Check the CLP mid-market exchange rate against your sending currency
Sending money on a favorable day gives your more CLP for your money. Track the Chilean peso rate and validate your transfer at a favorable moment.
2. Compare the 10 services sending money to Chile in order to find the best one.
There are 10 companies offering money transfer services to Chile, such as TransferWise, Western Union, MoneyGram, Xendpay, InstaReM. You will save big by comparing all your options and find the best deal for your money transfer.
3. Select the best option for your transfer
What is the most important for you? The total cost, speed of the transaction, customer reviews? Examine the pros and cons before selecting the provider.
In addition, you may want to pay attention to the options to pay for the transfer and receive the money. Credit cards, debit cards or a bank transfer are the most often available payment options to send money to Chile online. At the other end, in Chile, choose if you need the amount in CLP to be deposited on a local bank account or available for pick-up in cash at an agent location.
4. Sign up and start your money transfer with the provider of your choice
Now is the time to complete the sign-up form on the provider's website - be aware you will often need to provide an ID document and/or a proof of adress - and get started with your transfer to Chile.
How to Send Money to Chile
Thousands of people like you send money back to Chile every week. With almost a million Chileans living outside Chile, everyone needs an easy and inexpensive way to send pesos back home to benefit family, friends, corporations and others.
Banks in neither your adopted country nor Chile have the best fees or exchange rates for converting money into pesos. That’s why it’s vital to compare all of your options for sending money back to Chile so your pesos can go further. Whether you want to make a one-off currency transfer or you need to send money regularly, we can help you find the best options.
People from Chile send around a billion dollars back home each year, that’s an average of about a thousand dollars each. Our research shows that most people overspend by up to five percent on their transfers, so using a lower-cost provider could save Chileans up to $50 million collectively, or up to $50 individually, every year.
We want to stop you from overpaying, and we make it easy to compare the best-value options for money transfer, or select one of our recommended currency providers.
You can save over 30,000 pesos a year when sending money to family or friends in Chile.
I Want to Transfer Money to Chile, but Which Provider Should I Use?
There are plenty of options for sending money back to Chile. Here on Monito we cover all the popular specialist money transfer providers and banks for converting your money into pesos and sending it home.
We know there are lots of ways to transfer currency to Chile, which is why we compare all of the most popular options side-by-side so you can make an informed choice. The best money transfer provider for you will depend on several areas like the exchange rate they offer, how much you are sending, where you are sending from, the currency you are exchanging into pesos and some other factors.
We take all of those details into account when recommending the best way to send money to Chile. We’ll help you find the fastest and cheapest ways to send money home. For example, we can tell you the best providers for sending money to Chile from Argentina or the US.
For most money transfer providers, you can either sign up through their websites or download their apps which will give you fast and easy access from any smart device. We provide a useful “Smart Alerts” service that tells you how currency exchange rates are changing so you can choose the best time to send pesos back to Chile. Learn more and sign up here.
The Cheapest and Best Ways to Send Pesos to Chile
There are several good options for currency exchange, depending on how the person you’re sending money to wants to get access to their pesos.
Sending Less Than $1,000 in Pesos to a Bank Account in Chile
If you want to send money to a bank account in Chile, we recommend using a specialist currency provider. If you’re transferring under $1,000 or equivalent, your best options include InstaReM, Transfast and WorldRemit.
Sending More Than $1,000 in Pesos to a Bank Account in Chile
If you’re sending more than $1,000, we recommend InstaReM, Transfast and Xoom.
Banks that You Can Transfer Pesos to in Chile
You can normally arrange to send pesos to any of the following banks: Banco Santander-Chile, Banco del Estado de Chile, Banco de Chile, Banco Bilbao Vizcaya Argentaria Chile S.A. and several more.
Cash Pick-Up Locations in Chile
Some of these banks are also popular locations for picking up pesos that you have transferred. If the beneficiary wants to collect pesos as cash in Chile without going through a bank, then providers like Xoom are good options as they have over 60 locations around the country. Western Union can also be a good choice for local cash pickup.
You can even send money to Chile using Venmo.
If you have any questions about sending pesos to Chile, we’re happy to help, get in touch with us now.
What information do you need to send money to a bank account in Chile
RUT number (ex. 76589875)
The RUT number (Rol Único Tributario) is a 11-digit code that everyone established in Chile receive from the Servicio de Registro Civil e identificación. It is also used by the fiscal authorities in Chile. Most money transfer solutions will ask for the RUT number of your recipient.
Bank name (ex. Banco Santander)
The name of the bank where the recipient has his account. With a lot of providers, you’ll have to select the name of the bank of your recipient in a list. In some other cases, you’ll need the SWIFT/BIC code.
SWIFT / BIC (ex. BaBCHICLRMXXX)
To identify the bank of the beneficiary in Chile, you’ll sometimes need the SWIFT (also named BIC) code. This is a 11-character code uniquely identifying all banks in Chile.
Account number (ex. 088301601000143)
The account number of your recipient.
Name of the recipient
The name of the recipient's bank account's holder.
Banks in Chile are not part of the IBAN system, but SWIFT/BIC codes are used by all banks. In addition to the SWIFT/BIC code or the bank name, you will need the RUT number, a chilean code given by chilean authorities to everyone living in Chile.
In addition to this information, you’ll need the full name of the recipient (the person you’re sending money to).