The best, fastest & cheapest ways to send money to Guatemala

The exchange rate determines how much GTQ the recipient will get when you transfer money to Guatemala.

For example, today, the average exchange rate between US Dollar and Quetzal is 7.7032.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more GTQ.

If you do need to send GTQ now, we suggest using Revolut. Their rate for transfers to Guatemala was the best over the past 6 months.

The cheapest way to pay for your transfer to Guatemala is via Bank transfer with Revolut. It is % cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of GTQ you receive.

Here are your cheapest options:

*Based on a $2,000 transfer to Guatemala using our 6-month comparison data. Transfer time is based on averages from multiple companies.

Avoid using a Debit card option for transfers to Guatemala, as it’s the most expensive.

Credit card transfers to Guatemala come with cash advance fees and higher interest rates on GTQ.

Instarem, for example, charges $0 when paying with a credit card vs $0 via bank transfer by Revolut.

When possible, avoid sending GTQ over the SWIFT network. Despite its name, SWIFT transfers to Guatemala are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

Here are your options for money transfers to Guatemala depending on the amount you want to send:

Sending under $1,000 to Guatemala

Small transfer amounts will be processed easily and affordably when you use a money transfer app.

And if you want a faster transfer, you can pay with a credit card. WorldRemit can process transfers within minutes.

Sending $1,000 or more to Guatemala

Higher transfer amounts can cause you to run into transfer limits. WorldRemit, for example, will limit you to $5,000 for each transaction, with a 24-hour limit of up to $9,000.

Sending $10,000 or more to Guatemala

To send $10,000 or more to Guatemala, you’ll need to find a provider that can accommodate larger transfers.

By getting verified on Western Union, you’ll be able to send up to $30,000.

Sending $100,000 or more to Guatemala

The largest transfers usually demand a specialized service, such as an online broker like Currencies Direct or TorFX.

Otherwise, you can use another provider and make a series of smaller payments to reach the total.

In general, the quicker you need GTQ delivered, the more it will cost you in fees.

Transfer speed to Guatemala depends on the GTQ amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer $2,000 from the US to Guatemala.

Overall, of 11 companies serving Guatemala, Ria Money Transfer is the fastest regardless of the deposit method, appearing 58% of the time in our searches.

For bank or debit card deposits, services like Ria Money Transfer excel in this regard, offering near-instantaneous and cheapest GTQ transfers with $4 or $0 fees respectively and 2.8% markup.

Credit card transfers via Instarem to GTQ can take up to a day with a $0 fee and 0.15% markup (keep cash advance fees in mind). This is based on 6-month data from comparisons on MoneyTransfers.com.

For most urgent transfers to Guatemala, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for GTQ transfers as it's slower due to intermediary banks in Guatemala.

There are a few ways to send money to Guatemala:

Online

You can send money to Guatemala with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Revolut is the overall best online money transfer provider according to our 6-month analysis. They’ve appeared 63.2% of the time for GTQ transfers in our search system.

App

Most money transfer services supporting Guatemala transfers have an app, often, offering a better GTQ rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

In-person

Cash transfers to Guatemala in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect GTQ.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Guatemala. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Revolut offers the best service for bank transfers to Guatemala.

And if you need cash right away, check if cash pickup is an option for transfers to Guatemala.

You can also receive money in your mobile wallet such as Wallet Factory

Please also note that CashApp is not available in Guatemala.

To receive money in Guatemala, you will need:

• Valid forms of ID: this could be a Personal Identification Document (DPI), Consular Identification Card (CID), driver’s license, or passport.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of GTQ to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in Guatemala, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a Personal Identification Document (DPI), Consular Identification Card (CID), driver’s license, or passport.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in Guatemala. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to Guatemala, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest WorldRemit in this case. They know how to handle large GTQ transfers and will help you get things done fast.

In most countries, senders don’t pay tax on gifts and other non-commercial transfers, though Guatemala charges a progressive gift tax ranging between 1% and 25%.