How to send money to Nicaragua
Learn how to transfer money to Nicaragua with the best NIO exchange rate with these 4 steps
1. Check the NIO exchange rate against the currency you want to send
Although the evolution of the exchange rate is impossible to predict, it can help you save money to follow it so that you can maximize how many your will get against your own currency. We advise our users to take advantage our smart exchange rate alerts to keep an eye on the NIO mid-market's evolution.
2. Go with the optimal option by comparing all the available money transfer providers.
Our comparison engine lists many services able to send money to Nicaragua, such as TransferWise, Western Union, MoneyGram, Xendpay, Azimo. You can save a lot of money by comparing all your options and go with the most competitive one for your transfer.
3. Pick the best provider for you
Which criteria is the most important for you? Price, speed, number of positive evaluations? Balance the different criteria before deciding which provider to use.
In addition, you may want to have a look at the options to pay for the transfer and receive the money. You often have the option to pay by wiring the money from your bank account or by debit or credit cards. On the other side of the transfer, select the right option, whether you need the money to be sent directly to the recipient's bank account or received in cash (from an agent location).
4. Sign up and start your transfer with the service you selected
The last step is to fill the sign-up form on the money transfer provider's homepage - be prepared to upload an ID document and/or a proof of adress - and configure your transfer to Nicaragua.
More than 20% of all Nicaraguans (almost 1,2 million people) are living outside Nicaragua. Many of them are living in Costa Rica and other Central American countries, with large communities also present in the United States and in Spain.
Nicaraguans living abroad are sending a lot of money into the country, more than USD 1.2 billion per year, which represents almost 10% of Nicaragua’s GDP. But even more money could arrive to families and small businesses in Nicaragua if less money was lost in transfer fees and bad exchange rates.
Stop wasting money with the poor exchange rates of your bank or high fees of your current money transfer provider. By comparing the best providers to send money to Nicaragua from anywhere in the world and for the exact amount you need to send, you can make sure to get more córdobas for your money.