Simple Tips to Send Money to Nicaragua

Information verified correct on January 23rd, 2017

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

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Nicaragua doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Nicaraguan córdobas for your dollar.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Nicaragua is easy. However, do your research and shop around for the best available deal.

Rates last updated January 23rd, 2017

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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
Rates are always
changing, click to check
your price today
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More

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 a convenient and reliable transfer option, they’re also one of the most expensive choices. With low exchange rates and high fees, bank transfers are prohibitively expensive.

That’s why you can save money if you shop around for a specialist transfer company. These companies, such as WorldRemit, are experts when it comes to moving money abroad, 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 in Nicaragua. Although Joe lives and works in the U.S., 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 when compared to the mid-market rate, he decides to compare two transfer companies to see if there’s a cheaper solution available.

As you can see from the table below, Joe can send an extra $44.20 NIO and save $5 in transfer fees by using the first company.

Money transfer company 1Money transfer company 2
Exchange rate$1 USD = $19.7387 NIO$1 USD = $19.6945 NIO
Transfer fee$0$5
Transfer methodOnline bank account transferOnline bank account transfer
Processing time1-3 days1-3 days
Amount received (in NIO)$19,738.70$19,694.50
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How do I compare transfer companies when sending money to Nicaragua?

When comparing your options, pay attention to these factors:

  • Exchange rates. How do each company’s exchange rates compare to the competition?
  • Fees. How much will you have to pay to send the transfer? Can you avoid a transfer fee if you send a larger amount?
  • Transfer methods. Can transfers be placed online, over the phone, by visiting a branch and/or by using a mobile app?
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments, or does the company only provide one-off spot orders?
  • Turnaround time. Will the funds be available for your beneficiary in minutes, or will they take several working days to arrive?
  • Minimum transfer amount. What is the minimum transfer limit imposed by each company, and will this affect the size of your transfers?
  • Pickup methods. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
  • Customer service. What sort of customer support is offered and during what hours can you receive assistance?
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

What are my options for sending money to Nicaragua from the U.S.?

  • Specialist transfer providers. Money 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.
  • Bank transfers. Do your research to see how your bank’s exchange rates and fees compare to those offered by other providers.
  • International checks. An old-fashioned and slow transfer method is to mail a check to Nicaragua.
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Emergency cash transfers in Nicaragua

There are certain situations when you might need to send a transfer as quickly as possible. When you do need to send an emergency transfer, remember that you will usually have to pay extra in order to get your funds to your beneficiary ASAP. Make sure to check the exchange rate and fees that apply so you know exactly how much it will cost.

Find a money transfer location near you

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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 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.

Tips for picking up cash in Nicaragua

  • Take a friend with you when picking up cash.
  • Confirm a cash pickup agent’s location and hours of operation 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.
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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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