Simple Tips to Send Money to Nicaragua Effortlessly

NicaraguaShop around for big savings when you need to send an international money transfer to Nicaragua.

With the Pacific Ocean on one side and the Caribbean Sea on the other, Nicaragua has a population of just over six million people.

When you need to send money to a friend or family member in Nicaragua, there are multiple transfer options at your disposal. If you compare the fees, exchange rates and other options available from a range of different transfer providers, you’ll be able to find the best transfer deal.

Banks versus money transfer companies

It always makes sense to compare your options when choosing a money transfer provider, because transaction costs differ substantially from one provider to the next. While banks offer convenient and reliable transfer options, they’re also one of the most expensive choices. With low exchange rates and high fees, bank transfers are expensive.

That’s why you can save a lot of money if you shop around for a specialist transfer company. These companies, such as WorldRemit, are experts when it comes to moving money overseas, and they can offer better exchange rates and minimal transfer fees. If you’re willing to take a few minutes to see if there’s a cheaper option available, your bank balance could benefit.

Case Study: Joe Sends Money to Nicaragua

Joe wants to send $1,000 to his aunt and uncle who have retired in Nicaragua. Although Joe lives and works in Canada, he spent a year living with his aunt and uncle when he was a student and he wants to repay them for their hospitality. But when he sees just how much lower his bank’s exchange rate is compared to the mid-market rate, he decides to compare two transfer companies to see if there’s a cheaper solution available.

You should note that most money transfer companies cannot send the money to Nicaragua in the local NIO currency. It will be sent in USD and then must be converted to the local currency on arrival. As you can see in the table below, Joe can send money with transfer company 2 much more cheaply and with a much better exchange rate. Even a small difference in the exchange rate can greatly impact the amount of money received.

Money transfer company 1Money transfer company 2
Exchange rate$1 CAD = 0.75 USD$1 CAD = 0.76 USD
Transfer fee$50$4
Transfer methodCash pickup onlyBank to bank transfer
Processing timeWithin minutes1-3 days
Amount received (in USD)US$757.46US$761.78

How do I compare transfer companies when transferring and receiving money via Nicaragua?

  • Exchange rates. Does the company offer better or worse exchange rates than its competitors? How far below the mid-market exchange rate are they?
  • Transfer fees. Will you need to pay a fee every time you send a transfer? If so, how much will the fee be?
  • Transfer methods. Can you place transfers online, over the phone, in a branch or using a smartphone app?
  • Transfer options. Can you place limit orders, forward contracts or set up a regular payment plan?
  • Minimum and maximum limits. Are there any limits on the amount you can send in each transaction? Are those limits likely to impact your transfer requirements?
  • Processing times. How long will it take the transaction to be completed from start to finish? If emergency transfers are available, how much extra do they cost?
  • Pickup options. Can the funds be collected from a cash pickup point by your recipient or will the money you send be deposited directly into their bank account?
  • Customer service. Are phone, email and online live chat support available? During what hours?

How do I send money to Nicaragua from Canada?

  • Specialist transfer providers. Specialist transfer companies like WorldRemit offer convenient and cheap international transfers.
  • Cash pickup transfer companies. Western Union and MoneyGram both have cash pickup locations in Nicaragua. However, these companies will likely send the money in USD.
  • Bank transfers. Do your research to see how your bank’s exchange rates and fees compare to those offered by other providers.
  • International cheques. An old-fashioned and slow transfer method is to post a cheque to Nicaragua. Keep in mind that this is the slowest way to send money overseas.

How do I receive money from Nicaragua in Canada?

  • Specialist transfer providers. Shop around to find out which companies offer transfers from Nicaragua to Canada.
  • Cash pickup transfer companies. Search online to find your nearest cash pickup location.
  • Bank transfers. Check with your bank to find out how much it will cost you to send and receive international bank transfers.
  • International cheques. If you cash an international cheque, fees may apply. Check to see how much this method may cost you.

Emergency cash transfers in Nicaragua

There may be times when you need to send money to Nicaragua as quickly as possible – for example, a relative visiting the country may have had their wallet stolen and need urgent funds. The good news is that companies like Western Union and MoneyGram offer transfers in as little as 10 minutes. The bad news is that emergency cash transfers are usually a little more expensive, with higher fees and lower exchange rates. Make sure you review the full cost of a transfer before you hand over any cash to ensure that you’re happy with the deal you’re getting.

Cash pickup locations in Nicaragua/ Western Union / MoneyGram branches in Nicaragua

With massive worldwide transfer networks, Western Union and MoneyGram offer the convenient option of fast cash transfers. You can see the details of some popular cash pickup locations in Nicaragua below, but make sure you take along photo ID and a transaction reference number when you go to pick up the funds.

Western Union


  • Airpak
    Modulo Pa-38 Ubicado En La
    Planta Alta Del Centro Comerci Managua, Managua
    505 +505-84083291
    Open 9am to 7pm Monday to Saturday, 9am to 5pm Friday
  • Credileasing
    Frente A Casa Del Perno Contig
    Centro De Pinturas Calle 27 De Managua, Managua
    505 +505-22224055
    Open 8am to 5pm Monday to Friday, 8am to 12pm Saturday


  • Fama
    Iglesia Reconciliacion 75 Vrs Leon, Leon
    505 +505-23111020
    Open 8am to 2:30pm Monday to Friday, 8am to 12pm Saturday
  • Mi Credito
    Esquina De Los Bancos 75 Varas Leon, Leon
    Open 8am to 4:30pm Monday to Friday, 8am to 12pm Saturday



  • Banco Lafise Bancentro
    Contiguo A McDonald Metrocentro
    Open 9am to 5:30pm Monday to Friday, 9am to 1pm Saturday
  • Banpro
    Frente Al Ministerio De Educacion Med
    Managua, MR80
    Open 24/7 Monday to Saturday


  • Banpro
    Calle De Los Bancos
    Leon, MR80
    Open 24/7 Monday to Saturday
  • El Verdugo
    Frente Supermercado La Union
    Open 7am to 9:30pm seven days

Tips for picking up cash in Nicaragua

The Canadian Government advises Canadian visitors to Nicaragua to exercise a high degree of caution due to occasional violence and petty crime. With this in mind, a few simple safety steps can go a long way to deterring thieves:

  • Take a friend with you when picking up cash
  • Confirm a cash pickup agent’s location and opening hours before visiting
  • Avoid any high-crime areas
  • Don’t advertise your cash in public
  • Don’t carry the money around for any longer than is necessary

What are the steps to send money to Nicaragua?

  1. Provide your personal details. The first step is to provide your name, address, contact details and proof of ID. Some companies will also require you to sign up for a free account.
  2. Enter transaction information. Provide all of the relevant information about your transaction, including the amount you’re sending, the currency and where the transfer will be sent.
  3. Finalize your transfer. Review the details of the transfer to make sure you’re happy with the cost. If you are, submit your transfer request and wait for the funds to be sent to your recipient.
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