Sending money to the Bahamas is a challenge. There are far fewer options available to you than there would be for most other countries. That being said, there are of course a few decent options available to you.
The Bahamian Dollar (BSD) is pegged to the American Dollar (USD) at an exact rate. By that, we mean that one BSD is always worth exactly one USD. Of course, regardless of which currency you are sending to the Bahamas, you will still have to pay any applicable currency conversion fees.
If you are concerned with the prospect of future changes in exchange rates, it would be helpful for you to study the USD, its history, and the factors that currently affect it.
The fastest way to send money to the Bahamas is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Bahamian destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers can take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.
The cheapest way to send money to the Bahamas is through TransferMate. With TransferMate, you pay a higher flat fee than the competition, but this is ok. When you factor in both the flat, upfront fee and the hidden currency conversion costs, TransferMate ends up being the cheaper option.
The easiest way to send money to the Bahamas is through Western Union. Western Union has agents throughout several Bahamian cities, and they offer several convenient ways to transfer your money. Western Union does perform bank transfers, but their fastest and most well-known method is a cash pickup. Either way, Western Union is easy to use and requires only a small amount of planning and coordination.
Western Union offers you the overall best way to send money to the Bahamas. Western Union is easy to use and offers you the simplest way to send money to the Bahamas.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com