Managing Money In A Crisis
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Send money to Barbados
Use an online provider to get the most affordable transfer.
Guides
Exchange Rates
Barbados is not a popular transfer destination, which means there are limited options for sending money there. While your bank may offer transfer services, an online money transfer company will generally offer better rates.
Compare money transfer services for Barbados
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What's in this guide?
How to send money to Barbados
- Choose your service. Sometimes this can just be the cheapest, but other times you may want to look for providers with cash pickup options, faster transfers or higher limits.
- Create an account. This usually involves providing some form of identification, like your driver’s license or passport, and proof of address.
- Pick your payment method. The usual options are bank account, credit card or debit card.
- Choose your delivery method. Do you want to send money directly to a bank account in Barbados or do you want to arrange a cash pickup?
- Enter your transaction details. This includes who you’re sending the money to and how much you’re sending.
- Review your transfer. Make sure that your and your recipient’s details are right and double-check the fees and exchange rates to make sure everything’s in order.
- Send your funds. The money will be deposited into your recipient’s account in Barbados.
- Receive email/SMS confirmation. You’ll receive email or SMS confirmation once the transfer is underway. If the recipient is picking up cash in Barbados, they’ll need to present the transfer details at the pickup point.
How to compare money transfer services
Compare providers based on:
- Exchange rates. The Barbadian dollar is pegged to the US dollar at a ratio of 2:1, but transfer providers will skew this slightly to make a profit. US currency is relatively widely accepted in Barbados, so it may be possible to save on exchange rates by sending USD instead — but check with your recipient first.
- Fees. There will often be flat fees for a transfer. Compare these before sending and combine them with the exchange rates and any other costs to find the cheapest option.
- Pickup methods. Does the recipient need cash? Do they want it in their bank account? Would they prefer to have it deposited in a mobile money app? Look for a transfer provider that offers your preferred pickup method.
- Transfer methods. You can send money online, but if you’d rather do it over the phone or by paying with cash at a 7-Eleven or MoneyGram store, that may also be an option.
- Transfer times. Cash pickup is typically the fastest option, but this convenience will often come with higher fees.
- Limits. Providers may have minimum and/or maximum transfer limits, so check if your preferred provider can manage your transfer before getting started.
- Customer service. Make sure you know how to get in touch with the service if something goes wrong, especially if you know you’ll be using it regularly.
Exchange rates explained
An exchange rate is how much two currencies are worth compared to each other and sending money at different times can make a significant difference in how much arrives.
Generally, you’ll get better value for money if the currency being sent is strong relative to the currency being received at the time you’re sending it.
The Bajan dollar, or Barbadian dollar, is pegged to the US dollar at a rate of 2:1. This means exchange rates between the two stay consistent.
What are the ways I can send money to Barbados?
Not all banks and money transfer services will offer Barbadian dollars, so options may be limited.
- Bank transfer. Some banks will transfer money to Barbados through a wire transfer, but be careful as the rates and fees will sometimes be among the highest of all options.
- PayPal. PayPal offers money transfers and can be a convenient option, but it’s worth comparing it against other options since its fees can add up.
- Specialist money transfer service. These services will typically be among the most cost-effective and convenient options available, depending on the circumstances.
- Cash pickup services. Cash pickup money transfers are often the speediest way of sending money, but this convenience will typically come at premium prices.
How long will it take to send money to Barbados?
How long it takes to send money to Barbados depends primarily on how you pay for your transfer and how it’s sent. Bank transfers are typically the slowest part of the procedure, so by avoiding them you’ll often find faster transfers. For example, if you pay with card or cash for the recipient to make a cash pickup it will often be quicker than paying with a bank transfer to get funds sent straight to the recipient’s bank account.
Emergency cash transfer
If you need to get funds to Barbados in a hurry, cash transfers will be the fastest option.
How to send money to Barbados without a bank account
If you don’t have a bank account, you can still use cash transfer services to get the money to its destination.
Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account.
These cash transfer services are widely available around the world and although they’ll typically not be the cheapest available service, they’re generally fast and convenient.
Tips for picking up cash in Barbados
As a tourist-friendly destination, there are plenty of ATMs and banks in the more heavily populated parts of Barbados and there are several pickup points for services such as MoneyGram and Western Union around the islands.
Barbados is a relatively safe country compared to many other Caribbean nations, but it’s always advisable to be careful when handling large amounts of cash or traveling.
Try to pick up cash in well-populated, well-lit areas during the day and avoid doing it alone where possible.
Cash pickup locations in Barbados
Bottom line
Cash transfers are typically the fastest way to send money to Barbados, but using an online transfer provider to deposit money directly into your recipient’s bank account will usually be the cheapest option. To get the best deal on your next transfer, compare money transfer providers.
Frequently asked questions
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