Compare the best ways to send money to Grenada

The exchange rate plays a key role in determining how much XCD your recipient in GD will get.

For example, in the past month average rate for USD to XCD was 2.7026 XCD.

Since USD-XCD exchange rates fluctuate with market conditions, waiting a couple of days could result in a better rate, giving your recipient more XCD.

If you need to make an urgent transfer, we recommend using Wise, which has consistently offered the best rates for East Caribbean Dollar over the past six months.

The most cost-effective way to fund your transfer to Grenada is through a Bank transfer with Revolut, which is 2% cheaper than the second-best service.

The way you fund your transfer to Grenada impacts the cost, speed, and how much XCD the recipient will receive.

Based on our data from the last six months for a $2,000 transfer from the US to Grenada, the following are your best options:

• Revolut with bank transfer deposit costs $0 and has a 0.16% markup.

• Wise with a debit card deposit costs $14.37 with 0.09% markup.

• with a credit card deposit costs $0 with % added to the XCD exchange rate.

We advise against using Debit card, as they tend to be the most expensive option for XCD transfers.

Credit card transfers may incur cash advance fees and higher interest rates on XCD.

CC deposits also tend to be more expensive. For example, charges $0 for credit card deposits, while a bank transfer via Revolut costs $0.

Whenever possible, avoid transfers via the SWIFT network to GD. SWIFT transfers to Grenada are slower and come with higher fees.

Instead, look for a cheaper option such as ACH or account balance.

Money transfer companies often have min and max limits on how much XCD you can send.

The amount you transfer can also affect the fees and the XCD exchange rate you receive. For instance, Wise is the best choice for sending large amounts to Grenada.

Additionally, there may be government-imposed restrictions, commercial limitations, and other factors that influence the amount of XCD you can send.

This is why it’s really important to compare your options when transferring money to Grenada.

The speed of sending East Caribbean Dollar to Grenada depends on factors like the amount, timing, deposit, and withdrawal method chosen. Typically, faster transfers come with higher fees.

For example, based on a $2,000 transfer to Grenada:

Use Ria Money Transfer for fastest transfers

Of the 5 companies offering XCD transfers, Ria Money Transfer consistently offers the fastest delivery times across all deposit methods, appearing 11 times in our searches over the past 6 months.

For bank account & card deposits use Ria Money Transfer

Ria Money Transfer offers fast and affordable East Caribbean Dollar transfers, with fees of around $4 for bank deposits and $Wise for debit card deposits, plus a small 2.8% markup on top of the XCD rate.

For credit card transfers use

Based on our six-month search data, takes up to one day to send XCD via credit card, with a fee of $0 and % markup.

For urgent transfers use cash transfer

If you need money urgently, we recommend cash pickup services through providers like Western Union or MoneyGram.

Avoid the SWIFT network

Avoid using SWIFT transfers for XCD transfers. Due to intermediary banks on the way to Grenada, SWIFT is slower and comes with higher fees.

There are a few different ways to move money to Grenada:

Money transfer services

You can transfer money online using an FX broker (managed service) such as OFX or an online-only company (self-managed) such as Wise.

Based on our six-month analysis, Wise stood out as the top money transfer company servicing Grenada, appearing in 100% of XCD transfers in our search system.

Mobile apps and e-wallets

Most money transfer services that accept Grenada offer mobile transfer apps, which often have better deals on XCD exchange rates.

You can check our guide on the best money transfer apps to find one that suits your needs.

Cash transfers

Cash transfers to Grenada are sent in person through services like Ria Money Transfers, MoneyGram, or Western Union.

Transferring East Caribbean Dollar as cash is almost always instant but requires the recipient to visit a nearby agent in Grenada to collect the XCD.

Bank wire transfers

You can transfer East Caribbean Dollar via your bank.

We strongly recommend not using your bank to wire XCD directly to Grenada due to high fees and slow transfer times.

Instead, use the bank transfer deposit option with Wise and send XCD from there.

There are multiple ways to receive money in Grenada. Picking the right one can save you on fees and speed up the XCD transfer process. Here are your options:

Deposit to the bank account

To deposit money directly into a recipient’s bank account in Grenada, we recommend Revolut. They appeared in 100% of XCD searches as the cheapest option for bank transfers to Grenada.

The card transfer will also land in the recipient’s bank account in Grenada. Use Wise to deposit with a debit card at just $14.37 per transfer.

Cash pickup and delivery

If the recipient in Grenada needs XCD urgently or doesn’t have access to a bank account in Grenada, cash pickup or home delivery are good options.

Mobile and digital wallets

You can receive XCD directly into digital wallets like PayPal, though this often comes with more limitations and costs more compared to services like Revolut.

When sending money to a bank account or e-wallet in Grenada, East Caribbean Dollar will arrive without any involvement from the recipient.

However, if you're sending XCD as cash or transferring large amounts to Grenada, the recipient may need the following:

• Government-issued ID: A national ID of Grenada, a valid passport, or driver's license.

• Sender’s details: The sender's personal details such as full name and address.

• Transfer Details: The amount of XCD being received.

• Confirmation No.: This is usually given at the time of transfer.

• SWIFT Code / IBAN: Occasionally required for bank transfers.

The exact documents required may vary depending on the money transfer company and the transfer method used.

When sending bigger amounts to Grenada, companies may request proof of funds such as bank statements and address verification with the utility bill in line with AML (Anti-Money Laundering) policies.

We recommend using Wise to send large amounts of East Caribbean Dollar.

There may be tax obligations and government-imposed limits or restrictions on XCD transfers/payments to GD.

Some XCD transfers could be subject to taxes such as gift tax or commercial tax.

Even if no limits or taxes apply, certain XCD transfers (especially large sums of East Caribbean Dollar) may need to be reported to the tax authorities in Grenada or in your country.

When unsure, it’s best to consult with a tax professional in Grenada or your home country to ensure compliance with the regulations.