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

Pay attention to HNL exchange rates, as it determines how much HNL your recipient will receive.

For instance, today’s average USD to HNL rate is 26.1036 but the highest rate over the past 7 days was 26.2221 HNL/USD.

Your aim is to transfer when HNL reaches a higher value so waiting a few days could result in a better rate, hence more HNL received.

For urgent Lempira transfers, we recommend Remitly. It consistently provides the best HNL rates.

How you fund your transfer affects the cost, speed, and the amount of Lempira the recipient will receive.

The cheapest way to fund your transfer to Honduras is with a bank transfer via Remitly, which is 0.95% cheaper than the next cheapest service.

Based on our analysis of a $7,000 transfer from to Honduras, here are the top options:

• Remitly (bank transfer): Costs $0 + -0.46% markup on top of the HNL mid-market rate.

• Remitly (debit card): Costs $0 + -0.46% markup.

credit card is the most expensive deposit method for Lempira transfers, so we recommend avoiding it to maximize the amount of HNL received.

Credit card transfers may result in cash advance fees and higher interest rates when sending money to Honduras.

Avoid sending HNL over the SWIFT network, as it's slower and more expensive. Instead, consider cheaper options like ACH or account balance for HNL transfers.

Money transfer companies often have minimum and maximum limits on how much HNL you can transfer.

The amount of HNL you send can impact the fees and exchange rate. Some services such as Wise may offer a better exchange rate for large HNL transfers.

There may also be government-imposed restrictions, commercial limitations, and other factors that may affect how much HNL you can send.

To ensure your money transfer to Honduras goes smoothly, especially if moving large amounts of Lempira, use our comparison tool to find the service that best fits your needs.

The speed of sending Lempira to Honduras depends on factors like the amount of HNL sent, the chosen deposit and withdrawal methods, and when you send HNL.

As a rule of thumb, faster transfers come with higher fees.

Let’s imagine you want to transfer $7,000 to Honduras, here are your options:

• For the fastest transfers, use Xe - Out of 7 companies serving Honduras.

• For bank and card deposits, use Xe - Xe provides fast and affordable HNL transfers, with fees around $0 for bank account deposits and $0 for debit/prepaid card deposits, with a small 0.89% markup on the ‘real’ HNL exchange rate.

• For credit card transfers, beware of potential cash advance fees and higher interest rates from your credit card company.

• For urgent transfers, use cash transfer services - If you need Lempira to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Honduras.

Avoid using the SWIFT network for HNL transfers, as intermediary banks slow the process. Instead, opt for faster and more cost-effective alternatives discussed above.

For HNL transfers, you have the following options:

1. Money transfer company - You can transfer money online using an FX broker (managed service) or a self-managed online company like Wise. Based on our analysis, Wise ranked as the top provider for sending money to Honduras, appearing in 1 comparisons involving HNL.

2. Mobile apps and digital wallets - Many services available in Honduras offer mobile apps, often giving transfer offers on HNL rates.

3. Cash transfers - You can send cash to Honduras through services like Ria Money, MoneyGram, or Western Union. Cash transfers are typically instant, but the recipient must visit a local agent in Honduras to collect the Lempira.

4. Wire transfers - While you can wire money to Honduras through your bank, we advise against it. Banks can charge up to $60 per transfer to Honduras and add 5% - 6% to the HNL exchange rate. Instead, use bank transfer to deposit money to Wise and send HNL from there.

There are several ways to receive money in Honduras, and choosing the right one will help the recipient get the most HNL. Mainly, these are:

• Deposit to bank account - For direct bank deposits in Honduras, we recommend Remitly. HNL will arrive directly to the recipient's bank account in Honduras.

• Deposit to digital or mobile wallet - HNL can be sent directly to digital wallets like PayPal, though this option often has more limitations and higher costs compared to services like Remitly. Recipients in Honduras will need to transfer it to their account, which may incur more fees.

• Cash pickup or home delivery - If the recipient needs HNL urgently or doesn't have access to a bank account in Honduras, cash pickup or door-to-door delivery is a good alternative. Be sure to check if these services are available in Honduras. This will require the recipient to visit a nearby agent in Honduras.

When making large HNL transfers or sending Lempira for cash pickup, the recipient may need the following:

• Government-Issued ID: This can be a non-expired and valid passport, driver’s license, or national ID of Honduras.

• Sender’s Details: Full name, address, and other personal information.

• Transfer Details: The amount being received in HNL.

• Transfer number: This is given at the time of transfer.

• SWIFT Code / IBAN: This may be required for bank transfers to Honduras from some countries.

*The exact documents may vary depending on the transfer method and service used.

For bank accounts, debit cards, or wallet deposits, the recipient typically doesn’t need to do anything. Lempira will arrive without their involvement.

For larger transfers, companies may request additional documents like proof of funds and address verification in compliance with Anti-Money Laundering policies.

We recommend using Wise for transferring large amounts of Lempira.

There may be tax implications and government-imposed limits on Lempira transfers.

Some Lempira transfers may be subject to gift tax, commercial tax, and other types of taxes.

Even if no immediate taxes or limits apply, larger HNL transfers may need to be reported to tax authorities in Honduras or your home country.

To be fully safe, we strongly recommend consulting with a tax professional in either Honduras or your home country to ensure compliance with relevant regulations and tax laws.