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How to Send Money to Peru: Top Strategies for Quick, Trustworthy, and Economical Money Transfers (2023 Edition)

Thanks to technology, you can send money to loved ones in any part of the world in minutes. However, searching for the best online platforms to make international transfers can be time-consuming. This article is a complete guide on how to send money to Peru and which platforms have the best services and fees to make international money transfers to Peruvian accounts.

Transfer Service

Factors to Consider When Making Secure Online Money Transfers to Peru

Several important factors must be considered when sending money to Peru or internationally.

  • Reliability

The brand’s reputation should be your first consideration when making international transfers. Choosing an unreliable operator puts both your hard-earned money and financial details at risk, leading to more significant problems. To avoid this, look for brands with a solid reputation and a proven track record of offering safe and quality services.

But how do you know a brand is reliable? Easy! Check how long the brand has been operating and the number of positive reviews and ratings it has gathered over the years. For example, brand A has been around for over two decades and has amassed over 2000 positive reviews.

Then, we have brand B, which has only been around for a year and has yet to amass even 40 positive reviews. You are better off with brand A because they have proven to be a more reliable provider over time than brand B, which is still new to the business.

  • Transfer Method

Once you’ve found a trustworthy provider, the next step is to check the various transfer methods the brand supports, which may vary widely from brand to brand. Brand A may let you make a money transfer with PayPal, while brand B may not support that option. Therefore, look for brands that allow you to make transfers using your preferred choice. Consider transfer methods that operate with Venmo, credit card, and PayPal transfers.

  • Requirements to Transfer Money

Requirements may vary on different platforms, but most will ask you to provide a means of identification before any company or bank allows you to use their platform to make transfers. Most providers will ask you to provide an international passport or driver’s license.

You will also need to decide on your payment method and know the recipient’s information, such as contact details, bank branch details, SWIFT, and account number.

  • Exchange Rates

Another vital factor to consider when transferring to a Peruvian account is the provider’s exchange rates which can also vary. Therefore, check each provider’s exchange rate and compare them with other brands to see if they are favorable. If the brand’s exchange rates are reasonable, you can add the brand to your list.

  • Transfer Fees

Most money transfer companies will charge you a transfer fee before processing your request. Some may be unusually high, so it’s essential to compare the transfer fees of different brands and choose the ones with reasonable transfer fees.

It’s also good to check if the brand has fees upfront or any additional hidden fees before adding it to your list of platforms to transfer money online. If you plan on transferring money regularly, it’s best to go for brands that support large transfers without charging you premiums. These services are preferable to those that only support smaller transactions.

  • Speed

You should avoid companies with slow money transfer services for those who may need to transfer emergency funds to family members. Note that some brands may take up to 5 business days to transfer your funds, while others make an instant bank deposit. So, if you want your funds to arrive quickly, check to see how long the brand takes to make transfers.

  • Customer Service

Lastly, choosing brands with outstanding customer service should also be your top priority. Choosing a brand that is always there to address your questions and complaints is always beneficial, and this will come in especially handy if you experience a delay in funds.

How to Send Money to a Peruvian Bank Account

Sending money globally has never been easier. Today, you can make a money transfer across the world in minutes. Here are 3 of the best ways to send money to a loved one in Peru:

  • Online transfer services
  • Traditional physical bank account transfers
  • International money transfer companies

1. Online transfer services

Thanks to technological advances, you can now send and receive money from anywhere in the world without leaving the comfort of your home. To do so, you need an online transfer service provider. Note that these online platforms merely act as intermediaries in facilitating monetary transactions. Still, they allow you to send money to your family in Peru without visiting the bank in person.

Payoneer is one of the most trustworthy options for sending money to Peru via bank transfer. This company has been operating since 2005 and offers outstanding services.

Why You Should Use Payoneer to Make Bank Deposits in Peru

Payoneer works with major corporations and networks all over the world. This facilitates the transfer of funds to business partners and employees. Plus, payments are credited instantly to registered Payoneer accounts. That said, Payoneer users can opt to have the funds deposited into their bank accounts or withdrawn from ATMs, whichever they prefer.



2. Traditional Physical Bank Account Transfers

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A traditional bank transfer is one of the oldest and safest means of transferring funds online. Conventional banks use the SWIFT network to transfer money to bank accounts. The SWIFT network account is a safe and reliable payment system used to connect banks worldwide. However, the problem with this transfer method is that it typically takes 5 to 7 business days to make an international bank-to-bank transfer.

Plus, both the sending and receiving banks may charge a substantial fee to make international money transfers. It could even get more expensive if an “interim bank” you aren’t familiar with is involved in the transaction. For these reasons, there may be better options than a traditional bank transfer for those looking for a quick and inexpensive way to send money to Peru.

3. International Money Transfer Companies

Western Union and MoneyGram are Peru’s two most popular and reliable international money companies. These companies have been around for over a decade and offer wire transfers to nearly every country. Let’s have a look at these two companies in depth:

Western Union

The good thing about Western Union is that you can find a branch in every major city in Peru. As an added benefit, you can use this company to transfer and receive cash from a loved one without opening a bank account. This company is very reliable, provides super-fast services, and has an extensive network of local agents. Sending and receiving money through Western Union only takes minutes.

However, the downside of using Western Union is that receiving and sending funds to Peru is only possible in person. Furthermore, their transfer fee can fluctuate depending on your form of payment, payment amount, sender’s location, and other factors. Lastly, their exchange rate can sometimes be quite volatile at times.


MoneyGram is another reputable and reliable money transfer company to make wire transfers to Peru. They have their own local agents in Peru and collaborate with financial institutions like Banco Pichincha and Azteca.

Additionally, this company offers instant transfers to bank accounts in Peru and a few other countries. Like Western Union, they have a solid reputation and offer fast and outstanding services. However, on the downside, their exchange rates are inconsistent, and their fees are pretty high. Plus, you can only send and receive funds in person.

Alternatives to Payoneer

There are a few decent alternatives to Payoneer, including Wise, Square, and Stripe. Similarly to Payoneer, these options allow you to process payments and send money to loved ones in Peru. However, Payoneer’s long-standing reputation still far exceeds the others regarding dependability and quality.

Why Is It Better to Use Payoneer?

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One of the best things about Payoneer is that it allows business titans and corporations to connect with the global market. Individuals and businesses can use this platform to receive client funds for services rendered. With Payoneer, you can easily receive funds from Fiverr, Amazon, Shopee, Upwork, and Google.

Another benefit of using Payoneer is that this company allows you to send and accept payment quickly and smoothly. This capacity enables you to run your business more efficiently and save money on transaction and operating fees.

This company also supports multiple currencies for receiving payments, including the Swedish Krona, Brazilian Real, and Australian dollar. With this platform, you can accept payments in the currency of your choice without incurring any additional fees.


There are at least three good ways you can send money to Peru. You can either go to your traditional bank or use international money transfer companies like MoneyGram. However, if you want a quick and convenient platform to send money, you should choose an online transfer service like Payoneer.

Of all of the options for online transfer service providers, Payoneer remains one of the best for sending money to Peru. This company supports multiple currencies and allows you to send money to Peru smoothly.