Send Money to Peru Safely with a Great Rate

Information verified correct on March 30th, 2017

peru-landmarkCompare exchange rates, transaction fees and transfer options when you need to send a fast and affordable money transfer to Peru.

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 Peru doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Peruvian sols 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 Peru is easy. However, do your research and shop around for the best available deal.

Compare Money Transfer Services

Rates last updated March 30th, 2017

Enter your details to speak to a foreign exchange expert

By submitting this form, you agree to finder.com privacy policy
Ofx Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
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
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 1,000 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Use promo code FREE to ... Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
More

Have we missed anything in the comparison table? Tell us

  • If the provider quotes a different rate to the one above please let us know
Back to top

Banks versus money transfer companies

he first place many people go when they need to send an international money transfer is to their bank. While banks can certainly send money overseas for you, their fees are often higher compared to companies that specialize in international money transfers. These money transfer companies focus on international transactions and can offer much better exchange rates than most major banks.

Case Study: Gloria Sends Money to Peru

Gloria wants to send $1,000 from New York to her sister in Lima. She has an account big bank in the U.S. but, after learning they don’t offer this exotic currency, she decides to shop around for a money transfer provider to try to find a better deal. She compares two specialist online transfer companies in the table below.

Money transfer provider 1Money transfer provider 2
Exchange rate$1 USD = $2.253 PEN$1 USD = $2.262 PEN
Transfer fee$10$0
Transfer methodOnlineOnline
Processing time1-3 days1-3 days
Amount received (in PEN)S/.2,253.00S/.2,262.00

As you can see, Gloria can send almost S/.9 extra using the second transfer company and can also save $10 in transfer fees.

Back to top

How do I compare transfer companies when sending money to Peru?

  • Exchange rates. Shop around to find a transfer provider that offers better exchange rates than its competitors. However, make sure those great rates don’t also come with high transfer fees attached.
  • Transaction fees. Check the fine print to see how much it will cost you each time you send a transfer; it’s also a good idea to find out whether you can avoid paying a fee if you transfer a large sum of money.
  • How easy it is to use. Can you place transfers online or by visiting a branch? Are there other convenient options available, such as placing transfers over the phone or using a free mobile app?
  • Flexible 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?
  • Turnaround time. Compare transaction processing times to see which company can get your money to Peru the fastest, but remember that quick transfers usually cost more.
  • Minimum and maximum transfer amounts. Some providers impose minimum and maximum transaction limits. Check to see if these limits will affect you.
  • Cash collection options. Does the provider offer bank account transfers or a cash pickup option?
  • Customer service. Are phone and email support offered? Is there an online help center and live online chat if you need immediate assistance?
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.
Back to top

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

  • Specialist money transfer companies. Online transfer companies, like World First and OFX, can offer fast and convenient transfers to destinations all around the world.
  • Cash pickup transfer companies. Providers such as Western Union and MoneyGram offer convenient cash pickup transfers to Peru.
  • Bank transfers. Compare the exchange rates and fees your bank offers on international transactions with those offered by transfer companies.
  • International guaranteed checks. Another option is to obtain an international check from your bank and mail it to your beneficiary in Peru.
Back to top

Emergency cash transfers in Peru

If you need to send money to Peru as quickly as possible, some companies offer rapid international transfers in as little as 10 minutes. However, fast transfers usually don’t come cheap, and you can expect the transaction to cost extra thanks to low exchange rates and high transfer fees. With this in mind, make sure that you take a close look at the full cost of your transaction before deciding whether it is a cost-effective transfer option. 
Find a money transfer location near youBack to top

 

What are the steps to send money to Peru?

  1. Sign up for an account with a transfer provider. Registering is usually free and can be done online. You’ll need to provide your name, contact details and a valid form of photo ID.
  2. Provide transaction information. The next step is to enter all the details of your transfer, including who you’re sending money to, where they live, how much money you’re sending and in which currency.
  3. Complete your transaction. The last step in the process is to review the transfer details, pay for your transaction and keep hold of any receipt you are given so that you can track your transfer.
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com privacy policy.

US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

feedback