Easy Ways to Send Money to Uruguay

Information verified correct on March 27th, 2017

Casapueblo-Uruguay

Sending money to Uruguay without high fees is easy when you pick the right service provider.

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 Uruguay doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Uruguayan pesos 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 Uruguay is easy. However, do your research and shop around for the best available deal. And this guide will help you do just that.

Rates last updated March 27th, 2017

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

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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

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Case study: Money transfer companies compared

Work took Lucia Rodriguez to America, and she is to remain here indefinitely. Her mother, younger sister and ailing grandmother continue living in Uruguay. Lucia has to keep sending money back home so her family can meet everyday expenses and pay for her grandmother’s treatment. She figures around $1,000 every month should suffice.

Lucia checked with her bank to see if she could use its services for the transfer. However, since the Uruguayan peso is an exotic currency, her bank did not transfer funds to Uruguay. She decided to compare money transfer companies using the internet. This is what she found.

Money transfer service 1Money transfer service 2
Exchange rate$1 = $21.6282 UYU$1 = $21.0643 UYU
Transfer fee$60$0
Amount received for $1,000$20,330.47 UYU$21,064.30 UYU
Transfer time1 day1-2 days
Transfer optionsCash pickupBank account
Difference of$733.83 UYU

While the first money transfer company offered a better exchange rate than the second, the latter did not charge any fees for its services. This resulted in Lucia’s mother receiving more money through the second service provider. Besides, she was more than happy to transfer the money directly into her mother’s Uruguayan account. Going forward, Lucia decided to keep comparing her options every now and again.

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. Some money transfer companies don’t let you send less than $500 or $1,000.
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 Uruguay from the U.S.?

  • 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 U.S. banks and then sent overseas.

What are the steps to send money to Uruguay?

The steps involved in sending money to Uruguay depend on the method you choose.

  • Transfer to bank account. Keep the recipient’s name, account number, bank’s name and bank’s routing number handy. If you’re using a money transfer company or a bank other than your own, you’ll have to provide your bank account, debit card or credit card details as well. Processing time depends on the service provider you choose, and can vary from one to 12 days.
  • Cash pickup. You can initiate the process by visiting a storefront. Provide cash or pay using your debit or credit card. You’ll have to provide the recipient’s name along with a desired cash pickup center. If you’re sending money online, you’ll have to provide details of your bank account, debit card or credit card. Cash pickup transfers tend to go through almost immediately.
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US International Money Transfers Offers

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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.

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