Compare all the best ways to send money to Trinidad and Tobago

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

For instance, today’s average USD to TTD rate is 6.7943 but the highest rate over the past 3 months was 6.8336 TTD/USD.

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

For urgent Trinidad and Tobago Dollar transfers, we recommend Wise. It consistently provided the best TTD rates over the past six months.

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

The cheapest way to fund your transfer to Trinidad and Tobago is with a Bank transfer via Remitly, which is % cheaper than the next cheapest service.

Based on our six-month analysis of a $2,000 transfer from to Trinidad and Tobago, here are the top options:

• Remitly (bank transfer): Costs $0 + 1.59% markup on top of the TTD mid-market rate.

• Xe (debit card): Costs $11,935.8 + 0% markup.

• Xe (credit card): Costs $36.35 + 0% markup.

Credit card is the most expensive deposit method for Trinidad and Tobago Dollar transfers, so we recommend avoiding it to maximize the amount of TTD received.

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

For instance, Wise charges $48.47 for credit card deposits, while Remitly charges $0 for bank transfers.

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

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

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

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

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

The speed of sending Trinidad and Tobago Dollar to Trinidad and Tobago depends on factors like the amount of TTD sent, the chosen deposit and withdrawal methods, and when you send TTD.

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

Let’s imagine you want to transfer 2,000 USD to Trinidad and Tobago, here are your options:

• For the fastest transfers, use Xe - Out of 8 companies serving Trinidad and Tobago, Xe appeared 45 times in our searches as the fastest service in the past 6 months.

• For bank and card deposits, use Xe - Xe provides fast and affordable TTD transfers, with fees around $0.35 for bank account deposits and $7,959.37 for debit/prepaid card deposits, with a small 0% markup on the ‘real’ TTD exchange rate.

• For credit card transfers, use Xe - Xe charges $36.35 for credit card transfers to Trinidad and Tobago with 0% markup. However, 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 Trinidad and Tobago Dollar to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Trinidad and Tobago.

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

For TTD 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 6-month analysis, Wise ranked as the top provider for sending money to Trinidad and Tobago, appearing in 63 comparisons involving TTD.

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

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

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

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

• Deposit to bank account - For direct bank deposits in Trinidad and Tobago, we recommend Remitly, which appeared in 40.3% of TTD searches as the cheapest option for bank transfers. TTD will arrive directly to the recipient's bank account in Trinidad and Tobago.

• Deposit to digital or mobile wallet - TTD 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 Trinidad and Tobago will need to transfer it to their account, which may incur more fees.

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

When making large TTD transfers or sending Trinidad and Tobago Dollar 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 Trinidad and Tobago.

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

• Transfer Details: The amount being received in TTD.

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

• SWIFT Code / IBAN: This may be required for bank transfers to Trinidad and Tobago 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. Trinidad and Tobago Dollar 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 Trinidad and Tobago Dollar.

There may be tax implications and government-imposed limits on Trinidad and Tobago Dollar transfers.

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

Even if no immediate taxes or limits apply, larger TTD transfers may need to be reported to tax authorities in Trinidad and Tobago or your home country.

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