Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
How to send money to Uruguay
Sending money to Uruguay without high fees is easy when you pick the right service provider.
Getting a good deal when you’re sending money to Uruguay is of the utmost importance. A family member or friend in need should get the most pesos out of your dollars, and the easiest way to do that is to compare international money transfers to find the best exchange rates and lowest fees. Fortunately, this doesn’t have to be a difficult practice. Our guide will help you convert your dollars to pesos.
Compare money transfer services to Uruguay
How do I compare transfer companies when transferring money to Uruguay?
Don’t go with the first money transfer company that comes your way. Instead, compare your options across different aspects.
- The monetary aspect. The case study goes to show that a lower exchange rate does not necessarily mean you’re getting a better deal. Some money transfer companies that provide no-fee services may offer unfavorable exchange rates. The reverse can be true as well. To find out which deal is best, simply compare how much money the recipient stands to receive.
- Methods to send money. Banks that let their customers transfer funds to Uruguay can offer their services at branches, online and over the phone. Some money transfer companies have stores and kiosks that you can visit to send money. Some let you initiate the process over the phone as well. A number of these companies operate in the online world.
- Methods to receive money. The recipient can receive money directly into an Uruguayan bank account. Collecting transferred funds in person by visiting a cash pickup location is also an option.
- Different methods. Are you looking at sending money to Uruguay on a regular basis? If so, you can find money transfer companies that let you make scheduled payments. Some even offer forward contracts, which allow you to lock in an ideal exchange rate now and transfer the money later.
- Using the same bank. If you and the recipient have accounts with the same bank, you can consider using its services for the transfer. You could end up saving time as well as money.
- Turnaround time. When a funds transfer involves a cash pickup, it goes through almost immediately. When you’re transferring funds into a bank account, the time the process takes depends on the service provider you choose as well as the recipient’s bank.
- Minimum limit. If you’re planning to send a small sum, this aspect requires your attention.
Foreign exchange rates explained
Exchange rates vary daily, and sometimes hourly, because of the multiple economies at work around the globe. The dollar (HKD) is strong against the Uruguayan peso (UYU), meaning each dollar you send will yield more pesos. However, since exchange rates are flexible, it pays to compare your options and find an exchange rate that nets you the most pesos.
What are my options for sending money to Uruguay from Hong Kong?
- Bank transfers. Bank-to-bank transfers may cost more than other options but they are a secure way to send money to Uruguay.
- Online money transfer providers. A reliable online money transfer company can offer fast and cost-effective transactions.
- Money transfer companies with cash pickup options. MoneyGram and Western Union are the world’s two largest providers of this service.
- PayPal. PayPal offers secure international money transfers to Uruguay and many other destinations around the world.
- Checks. International checks can be obtained from Hong Kong banks and then sent overseas.
Steps to send money to Uruguay.
Depending on your preferred transfer method, the steps may vary, but these basics will help you convert your dollars to pesos without confusion.
- Find a money transfer provider. The table above should help you make your decision.
- Click Go to Site to see the terms and rates once you’ve found your provider.
- Fill out the form with the personal details, including bank account information, of you and your recipient.
- Keep your receipt and tracking number to make sure the transfer processes correctly.
If your recipient is picking up their funds as cash, they’ll need the tracking number and ID to confirm their identity.
More guides on Finder
Finder’s 2021 Bitcoin Predictions Report
We asked 47 experts for their cryptocurrency price predictions and took a deep dive into the Bitcoin price rally.
How to buy Power Ledger (POWR)
If you want to know how to buy Power Ledger (POWR) tokens using either HKD or cryptocurrency, you’ll find the help you need in this comprehensive guide.
What is BitShares (BTS)?
BitShares offers a blockchain solution to the problem of centralised exchange services.
What is Siacoin? Understanding the Sia platform
Delivering the power of the blockchain to cloud hosting, Sia is a peer-to-peer solution for data storage.
Get bitcoin with a credit card at xCoins – January 2021 review
xCoins connects borrowers and lenders of bitcoin through an instant peer-to-peer lending platform.
How to sell bitcoin
Find out where to sell bitcoin, how to set your prices and pick up tips to help you get a better price.
What is Ethereum’s Casper update? Everything you need to know
Read our ultimate guide to the Ethereum Casper update, how it works and how it will change the Ethereum network.
How to earn passive income with cryptocurrency
It’s possible to make money from cryptocurrency without just buying low and selling high. Here’s how.
HitBTC exchange – January 2021 review
If you’re considering buying and selling crypto on HitBTC, a well-known exchange that supports more than 300 digital currencies, read this review first.
HKD to NOK Exchange Rate
Live exchange rates Hong Kong Dollar to Norwegian Krone. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to NOK.
Ask an Expert