How to send money to Guatemala
Find out how to make a money transfer to Guatemala at the most competitive cost with these 4 steps
1. Check the GTQ interbank exchange rate against your own currency
Sending money at the right time can help you save money. Frequently check the Guatemalan quetzal rate and convert your money when the exchange rate reaches your target level.
2. Make your choice among the 12 services available for transfers to Guatemala to find the best one.
We compare quite a few providers offering money transfer services to Guatemala, such as TransferWise, Western Union, MoneyGram, Xendpay, Azimo. Going with the most competitive company from the available options is a sure way to save on costs.
3. Select the best provider based on your criteria
Based on which criteria will make your choice? Overall cost, speed of transfer, customer ratings? Evaluate the advantages and disadvantages before selecting the provider.
It is also interesting to have a look at the payment solution and pay-out options. You can often have providers giving you the option to transfer the money directly from your bank account, other providers will also give you the option to pay by credit and debit cards. On the other side of the transfer, you can decide if your want the converted amount to be transferred to your recipient's account or received in cash (from an agent location).
4. Sign up and get started wih your transaction with the money transfer provider of your choice
Go to the provider's homepage to sign up - be aware you will often need to upload an ID and/or a proof of adress - and get started with your transfer.
How to Send Money to Guatemala
Thousands of people like you send money back to Guatemala every week. With over a million Guatemalans living outside Guatemala, everyone needs an easy and inexpensive way to send quetzales back home to benefit family, friends and others.
Banks in neither your adopted country nor Guatemala have the best fees or exchange rates for converting money into quetzales. That’s why it’s vital to compare all of your options for sending money back to Guatemala so your quetzales 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 Guatemala send over $2 billion back home each year, that’s an average of $2,000 each. Our research shows that most people overspend by up to five percent on their transfers, so using a lower-cost provider could save Guatemalans up to $10 million collectively, or up to $100 individually, every year.
If you use a bank or PayPal, you could easily overpay for money transfers, and we want to stop that. We make it easy to compare the best-value options for money transfer, or select one of our recommended currency providers.
I Want to Transfer Money to Guatemala, but Which Provider Should I Use?
There are plenty of options for sending money back to Guatemala. Here on Monito we cover all the popular specialist money transfer providers and banks for converting your money into quetzales and sending it home.
We know there are lots of ways to transfer currency to Guatemala, 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 quetzales and some other factors.
We take all of those details into account when recommending the best way to send money to Guatemala. 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 Guatemala from the US, Mexico, Canada or Honduras.
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 quetzales back to Guatemala. Learn more and sign up here.
You can save over 750 quetzales a year when sending money to family, friends or businesses in Guatemala.
The Cheapest and Best Ways to Send Quetzales to Guatemala
There are several good options for currency exchange, depending on how the person you’re sending money to wants to get access to their quetzales.
Sending Less Than $200 in Quetzales to a Bank Account in Guatemala
If you want to send money to a bank account in Guatemala, we recommend using a specialist currency provider. If you’re transferring under $200 or equivalent, your best options include Pangea, Remitly and Transfast.
Sending More Than $200 in Quetzales to a Bank Account in Guatemala
If you’re sending more than $1,000, we recommend your best options include Pangea, Remitly and Transfast.
Banks that You Can Transfer Quetzales to in Guatemala
You can normally arrange to send quetzales to any of the following banks: Banco Santander, Banco Industrial, Banrural, Banco G&T Continental (GT&C), Banco Agromercantil (BAM), Banco de los Trabajadores and others.
Cash Pick-Up Locations in Guatemala
Some of these banks are also popular locations for picking up quetzales that you have transferred. If the beneficiary wants to collect quetzales as cash in Guatemala without going through a bank, then providers like Pangea or WorldRemit are good options. If you have any questions about sending quetzales to Guatemala, we’re happy to help, get in touch with us now.