Find the best ways to transfer money to Chile

The Chilean Peso (CLP) can fluctuate daily, which means the exchange rate has a direct impact on how much your recipient receives.

At the moment, the average USD to CLP rate is 925.7015.

In the past 7 days, it reached a high of 928.7499.

If your transfer isn’t urgent, waiting for a better rate could increase the final amount in CLP.

If you’re sending money today, Wise has delivered the most competitive rates in the past week.

Your payment method plays a key role in how much your transfer costs and how quickly it arrives.

According to our latest data:

• bank transfer is the most affordable way to pay.

• credit card typically results in higher fees.

For example:

• A bank transfer through Revolut may only cost $21 with a markup of 0.2%.

• A debit card transfer using Paysend might cost $0 with a 1.5% markup.

• Another option is credit cards, but these tend to have the highest fees. Mainly, cash advance, transfer fees, and other charges from your credit card company.

While credit cards are typically the most expensive way to fund a transfer to Chile due to extra fees, debit cards usually fall somewhere in the middle (more expensive than bank transfers but often cheaper than credit cards).

Be sure to compare providers, as costs and markups vary.

Avoid using the SWIFT network for CLP transfers, as it’s slower and may include hidden intermediary fees.

Money in Chile can be received through:

• Bank deposits, which are reliable and widely used

• Cash pickups, which are popular for urgent or unbanked recipients

• Mobile wallets, which are growing but are more limited

Revolut currently ranks among the most affordable services for sending money directly to a Chilean bank account.

If your recipient prefers cash, services like Wise offer near-instant pickup options through partners like Western Union, Ria Money Transfer, and MoneyGram.

Chilean mobile payment app MACH Pay is also available, though some providers may not support it or may charge higher fees compared to traditional bank transfers.

Money transfer services often set minimum and maximum transfer amounts.

These limits may vary depending on the provider, payment method, and your country of origin.

Revolut consistently offers strong rates for larger CLP transfers.

If you’re sending over $10,000 USD or the CLP equivalent, you may be asked to provide documentation such as proof of income, the purpose of the transfer, or the source of funds.

Chilean authorities and international providers apply these checks in line with Anti-Money Laundering (AML) regulations.

Transfer speed depends on how much you send, your payment method, and the time of day you initiate the transfer.

• Bank transfers usually arrive in 1–2 business days. OFX has appeared as the fastest for CLP bank deposits in 1 CLP searches.

• Debit or credit card transfers are often faster. Paysend ranked highest in our data for quick card-based transfers.

• Cash pickup services can deliver CLP almost instantly, usually with MoneyGram, Ria, or Western Union.

Avoid SWIFT transfers if speed matters, as they tend to involve delays due to third-party bank processing.

Most transfers to Chile do not require action from the recipient.

However, for cash pickups or high-value transfers, proper identification is required.

Acceptable IDs in Chile include:

• National identity card (Cédula de Identidad)

• Passport

• Driver’s license

The recipient may also need to provide the sender’s full name, the CLP amount expected, and the transfer reference number.

Some providers may request additional verification for larger transactions, in line with local and international financial regulations.

Transfers to Chile are commonly used for family support, temporary relocation, property payments, or even remote work arrangements.

Choosing the right provider can ensure your money arrives quickly and without excessive fees.

If you’re sending to a business or paying a contractor, a provider that supports direct CLP bank transfers is often the most convenient method.

There are no individual taxes due on international money transfers received in Chile.

However, if the money received is a form of income, you may be liable for Chilean income tax.

Chile has tax treaties with several countries that prevent double taxation, so if you’ve already paid tax on income received in one country, you shouldn’t need to pay tax on it again in Chile.

Gifts are rarely taxed in Chile, so you can receive monetary gifts from family members, friends, or others without having to pay tax on the gifted amount.

There are no individual limits on how much money you can send to Chile. But there are reporting requirements that must be met when you send or receive a certain amount of money.

Currently, any transfers to Chile exceeding $10,000 (or currency equivalent) must be reported to the Chilean Internal Revenue Service. This is to help prevent money laundering.

If you are a US citizen or green card holder living in Chile, you are legally required to file a US tax return each year, regardless of whether you already pay taxes in Chile.

This means that you may be subject to US tax regulations, such as the Foreign Account Tax Compliance Act (FATCA), which requires individuals to report foreign bank accounts and financial assets when filing their US tax return.