About the United States and Peru

The relationship between the US and Peru dates back to the early 1800s when Peru gained independence from Spain. Today, both countries enjoy a bilateral relationship which has been a major boost in their economy. Nevertheless, there are thousands of migrants from Peru who reside in the United States. This is clear from the remittance activities taking place between these two countries where millions of dollars are converted from the USD to PEN annually.

Cheap way to send money from US to Peru

If you want to send money from the United States to Peru without paying a hefty transfer fee, there are three main options that you will find to be convenient. They include;

Bank transfers:sending money from US to Peru using a bank transfer is possible and can be a cheap option more so if you need to transfer a large amount of money. Bank transfer between the US and Peru is common with migrants who want to legally purchase property back at home in Peru. banks are safe although the process takes some time to clear. The introduction of mobile banking has also significantly contributed to simplifying bank transfer from the US to Peru.

Cash transfer apps: sending money online today has simplified international remittance. Using services like XE Money, you can enjoy cheap money transfer from the US to Peru. one of the main reasons why online money transfers between US and Peru has become more popular because everyone uses smartphones these days. Nevertheless, money transfer apps are generally cheaper and offer more convenience since they deliver money straight into the hands of the receiver. Some of the top-rated money transfer apps that you can use to send money from US to Peru include; Remitly, Xoom, Ria, and XE Money

Cash pick-up services: One of the first-ever ways of transferring money across the world was through money pick-up services. Even posts offices became reliable agents to help people take part in cross border money transfer. In the modern world, services like Western Union and Travelex are some of the top choices for sending money to Peru. With developments such as the Western Union app, your cash pick-up and transfer services can only get better.

Factors to consider when sending money from the US to Peru

To successfully send money from America to Peru, you need to ensure that you have check-marked a couple of things including;

Cost of service: Normally before you set out to send money, you already have in mind the amount of money that you are willing to spend as the cost of service. Knowing how much a particular transfer agent charges will make it easier for you to find the cheapest way to send money from US to Peru.

Service availability: You will also want to make sure that you work with a service that is available in both US and Peru. That way, you will make it easier for the recipient to collect the cash while avoiding wasting more money in the name of reversing the transaction. Through Exchange Rate IQ, these are some of the uncertainties that you can avoid.

Duration: You have to know how long it takes for a particular service to complete your transfer. That way, it will be easier to know which service is the best in terms of speed if it is an emergency transfer. You should understand that there are some services that take much longer like five days in order to complete your transfer.