El Salvador isn’t the easiest country to send money to, but you have many good options available to you. Regardless of what you’re looking for in a money transfer service, you should be able to find one that you find agreeable.
The Salvadoran Colon (SVC) is a currency which has been pegged to the American Dollar (USD) for almost a century now. Since 2001, due to the Law of Monetary Integration, the USD circulates freely inside El Salvador and can be exchanged at a rate of 8.785721 SVC per USD.
The SVC reached a high of 8.7857 SVC per USD and a low of 8.7491 SVC per USD during the last 90 days. The average exchange rate for the last 90 days was 8.7558 SVC per USD.
If you are concerned by the prospect of future fluctuations in currency exchange rates, you should study the American Dollar’s history and current behavior.
The fastest way to send money to El Salvador is through Ria Money Transfer’s fast option. With Ria Money Transfer’s fast option, your money should reach its Salvadoran destination in a matter of minutes. Ria Money Transfer’s faster option is also very well-rounded, as there are many slower options which cost far more than it. While Ria Money Transfer isn’t the easiest service to use, it does provide a few great benefits, such as a great cost-speed ratio.
The cheapest way to send money to El Salvador is through TransferWise. When you consider all the necessary variables, TransferWise simply offers the best deal for sending money to El Salvador. TransferWise is a peer-to-peer money transfer company which is one of the only options on the market that doesn’t mark up currency conversion fees at all. TransferWise does charge an upfront fee, but it’s quite low when you factor in the complete lack of hidden currency conversion costs.
To find out more, check out our simple guide about the fastest ways to send money abroad.
The easiest way to send money to El Salvador is also through TransferWise or Dolex Money Transfers. TransferWise is a peer-to-peer money transfer service that makes sending money very easy. Their platform is easy to use, and the process by which you send money can be broken down into simple steps:
1) Tap in the amount of money you want to send
2) Tap in the destination
3) Pay TransferWise for the transaction
4) Wait a day or two for your money to arrive at its Salvadoran destination
The overall best way to send money to El Salvador is through TransferWise. This TransferWise offers the best rates and the most intuitive platforms for anyone looking to send money to El Salvador. The 1-2 day typical waiting times may sound long, but this is somewhat fast when it comes to secure methods of sending money internationally. When all of these factors are considered, TransferWise offers you the best deal for sending money to El Salvador.
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