Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
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 important. The easiest way to do so 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.
Send money to Uruguay with WorldRemit
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
- No minimum transfers.
- Wide range of destinations.
- Competitive exchange rate.
Compare money transfer services to Uruguay
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Best ways to send money to Uruguay
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Uruguay. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.
1. Digital money transfer servicesCompanies like Ria and XE specialize in foreign currencies, making them some of the most cost-effective ways to send money to Uruguay. Most offer transfers directly to your recipient's bank account in Uruguay, often in as little as a day or two.
- Why? Digital money transfer services are cheaper because they exist online and don't have as many employees or physical locations.
2. Cash transfersServices like MoneyGram and Remitly allow you to transfer cash for pickup at a local branch in Uruguay— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees.
- Why? Picking up cash is more expensive because more people are involved.
3. BanksThe Uruguayan peso may be offered by your bank, but beware of high fees and wide margins on the exchange rate. Compare bank transfers to digital services and other options before sending a wire transfer to Uruguay.
- Why? Banks offer money transfers as a secondary service so don't strive to offer competitive prices.
Let's crunch the numbers: Sending $1,000 to UruguayLet's say you need to send $1,000 to family in Uruguay. Here's what you might face as far as fees and exchange rates using today's rate of 1 USD = 44.050 UYU.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$4||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 43.918 UYU||1 USD = 43.830 UYU||1 USD = 41.848 UYU|
|Transfer speed||1-2 days||Minutes||2-5 days|
The bank option ends up being the slowest and gets the smallest amount of money to your recipient in Uruguay. A digital transfer sends the most, which is UYU$3,117 more than the bank. For speed, a cash transfer can typically have your transfer to Uruguay in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.
How to send money to Uruguay online
Sign up and send money to Uruguay with a digital money transfer specialist in four steps:
- Sign up for a free account. Compare and pick a provider before signing up for a free online account using your contact information, proof of ID and preferred payment method.
- Provide transfer details. Submit your recipient's contact information and pick a delivery method. If transferring to a bank, you'll need their bank account details in Uruguay.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Uruguay. Some money transfer providers send a text or email when your transfer is complete.
Get the most out of your money transfer to Uruguay
Weigh costs and fees against convenience to best compare money transfer providers that send to Uruguay. Consider:
- Exchange rates. The USD–UYU relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Uruguayan peso rises against the US dollar.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger USD–UYU exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Uruguayan pesos you're sending to Uruguay.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Uruguay.
- Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you're sending is a valid strategy for saving money.
- Transfer methods. Whether you want money sent to a bank account in Uruguay or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
How to send money to Uruguay without a bank accountIf you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up Uruguayan pesos without a bank account.
Emergency cash transferWhen urgency trumps cost to get your money to Uruguay quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
Uruguay's exchange rates explained
Banks and money transfer companies use exchange rate to calculate how much Uruguay's currency is worth when converted to USD. The USD-UYU relationship can change daily based on global economic stability, interest rates, inflation and more.Today's exchange rate USD to UYU
What to watch out for
Sending money to relatives or family members in Uruguay may be subject to taxes on the money transfer and certain documents may be required.
Taxes on transfers to Uruguay
In general, any large transfers being sent from the US to Uruguay should be filed with the IRS to avoid any penalties.
Receiving money in Uruguay:
- Transfer confirmation details like a transfer number, an MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID like a passport or similar official ID may be required to pick up your transfer.
- Sender's information. Take along your sender's full name, the sending country and their address, if known.
Sending to Uruguay from the US:
- Proof of identification like a government-issued ID or your SSN number.
- Recipient information like their name, address and bank account information in Uruguay.
Sending your hard-earned money to Uruguay shouldn't cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.
More guides on Finder
The best debit cards for kids for 2021
Support your child’s financial knowledge and teach the important real-life money skills in a safe and controlled way with a kids’ debit card.
Sigue international money transfers review
Sigue offers speedy money transfers to 50+ countries, but you have to set up a transfer to see the transaction fees.
Boss Revolution money transfer review
Join Boss Revolution with an email address and phone number, and send money within minutes.
Remittances weakened by a struggling US dollar
Understanding your money sending options can help you send the most money abroad while the dollar struggles.
Usend combines money transfers, bill pay and mobile phone reloading.
Paysend offers transfers to more than 70 countries through its app and online service.
Review: Boxypay international money transfers
Pairing international calls with money transfers makes Boxypay a unique choice.
Tax guidelines and regulations for large money transfers to Hong Kong
Sending a large money transfer to Hong Kong? Learn about laws and required documentation before you transfer.
How do international money orders work?
Using international money orders to send money overseas? Learn about better options.
Nationwide My Checking account review
Get unlimited domestic ATM fee reimbursements with no minimum balance from Nationwide’s My Checking account.
Ask an Expert