Sending money to family, friends or business partners in Honduras can seem like a daunting and expensive prospect, but it doesn’t have to be. When you compare the transfer fees and exchange rates of a variety of transfer providers you can get the best deals on bank transfers and online transactions that suit your needs and budget.
Compare money transfer services to Honduras
How do I compare transfer companies when sending money to Honduras?
When sending money to Honduras, several aspects require your attention.
- Exchange rate and fees. It is important that you pay attention to both these aspects together. This is because a highly competitive exchange rate might come with a steep transfer fee. On the other hand, you may not get a good exchange rate through a service provider that does not charge any fees. An easy way to compare your options on this front is to look at how much money the recipient stands to receive.
- Ways to send money. If your bank allows electronic fund transfers to Honduras you may be able to initiate the process in person, online or over the phone. Various money transfer companies let you send money to Honduras online, some have stores and kiosks that you can visit to send money in person, and some let you go through the process over the phone as well.
- Ways to receive money. One option is that the recipient receives money directly into a Honduran bank account. Another is to collect transferred funds from a cash pickup location.
- Transfer options. Working with a company that lets you schedule recurring payments can work in your favor if you plan to send money regularly. This way, you won’t have to go through the entire process before each transfer. If you wish to benefit by fluctuations in the foreign exchange market, you can look for businesses that offer forward contracts and limit orders.
- Turnaround time. Transfers that involve sending money to cash pickup locations tend to go through almost instantly. Turnaround time for transfers to Honduran bank accounts can vary significantly depending on the service provider you choose, from one to several days.
- Customer service. Good money transfer companies offer support over the phone, via chat and via email. If you see no more than an email address as a means to contact a service provider, you may want to move on to your next option.
Foreign exchange rates explainedThe exchange rate determines how much one country’s currency is worth in another currency. A strong currency will yield more money when exchanged in a country with a weak currency. Since Honduras has a flexible exchange rate, it can change from moment to moment based on factors like interest rates, economic stability and inflation.
How do I send money to Honduras from Singapore?
You get to choose from a number of options when sending money to Honduras from Singapore.
- Banks. While using the services of a bank is possible to send money to Honduras, the process, in all likelihood, would involve a transfer fee. Sending a bank-issued money order, check or draft via mail is also an option.
- Non-banks. Non-banking businesses such as Western Union and MoneyGram let you send money to cash pickup locations in Honduras. Ones such as WorldRemit let you transfer funds to Honduran bank accounts. OFX is a trusted partner of Finder SG and is offering Finder readers an exclusive deal of $0 in fees.
- PayPal. If you and the recipient have PayPal accounts, you can use its services to send money to Honduras from Singapore. You don’t have to pay any fees to open a PayPal account and the process takes little time.
Steps to send money to Honduras
- Register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your preferred payment method.
- Provide your recipient’s name and contact information.
- Select the amount of money to transfer.
- Complete your transaction and save the reference number you receive to review the progress of your transfer.
Same-day cash transfers in Honduras
You might need to send an emergency cash transfer to Honduras — for example, if a relative is touring the ruins of Copán and loses their wallet. When the speed of the transfer is the decisive factor the transaction is likely to be expensive. Compare the exchange rate and fees for your transaction before you commit.Back to top
Tips for picking up cash in Honduras
Whether picking up funds in Tegucigalpa or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.
- Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
- Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
- Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
- Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
Cash pickup locations in Honduras
More guides on Finder
Kraken vs Coinbase
We compare the key differences between two of the most popular cryptocurrency exchanges in terms of fees, features, customer support and more.
Best international money transfer apps
Compare popular money transfer apps to get the most out of your mobile international transfer.
Find a money transfer location
Send cash to friends or family. Find an international money transfer service in your neighborhood.
Review: Remitly money transfers
Read our review of Remitly to discover why this fast, competitive option may be the best choice for your next international money transfer.
OCBC Securities Review
Discover what it’s like using OCBC Securities to trade stocks and other securities before applying.
CMC Markets Forex and CFD trading
CMC Markets provides online trading services to Singapore customers who can enjoy low commissions and the features of an award-winning trading platform.
Prepaid debit cards in Singapore
Singapore prepaid credit cards are easy to sign up for, affordable to have and safe to use.
Review: Send international money transfers
If you’re thinking of transferring money overseas with Send, make sure you check out our review of its exchange rates, fees and transfer speed first.
MoneyGram vs Travelex
Discover the ins and outs of these two international money transfer services to help you decide which is best for your next money transfer.
WorldFirst vs PayPal
We compare WorldFirst and PayPal to find out who offers the lowest fees, best exchange rates and fastest transactions for international money transfers.