While money flows into the Bolivia through popular countries such as Argentina, Spain, and the U.S., people from smaller countries in different parts of the world transfer money to Bolivia too. No matter where you live, sending money to Bolivia requires that you select a suitable service provider. Fortunately, finding one is fairly easy.
Transfer Money to Bolivia
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
- Two Transfers Fee Free
- 1 - 3 Days
- $250 / £100 / €250
Currency Corridors & Swift Codes
Currency Symbol and Swift Codes
What currency does Bolivia use? The Bolivian boliviano (BOB), in its current form, has served as the official currency of Bolivia since 1987. One boliviano is divided into 100 cents or centavos. The boliviano was first introduced in 1864 and it continued to be used as the country’s currency until 1963.
When sending money to a Bolivian bank account, you will need the bank’s SWIFT code. The table below lists SWIFT codes of some popular banks in Bolivia.
|Banco Santa Cruz||Santa Cruz de la Sierra||BSCHBO21XXX|
|Banco Nacional de Bolivia||La Paz||BNBOBOLXXXX|
|Banco de Credito de Bolivia||Santa Cruz de la Sierra||BCPLBOLXSCZ|
|Banco Union||La Paz||BAUNBO22XXX|
Popular Currency Corridors
Money flows in and out of Bolivia to and from different countries. In 2016, more than U.S. $1.21 billion made its way to Bolivia as remittances from other countries. In the same year, around U.S. $230 million was sent from Bolivia to other countries in remittances.
Just how much money entered and left the country across its popular currency corridors in 2016 is listed in the corresponding tables. The figures are in U.S. dollars.
How Do I Compare Companies When Sending Money to Bolivia?
Several overseas money transfer companies let you send money to Bolivia, although choosing one requires that you pay attention to different factors.
- Cost effectiveness. The exchange rate that applies on your transfer and the fees you need to pay affects the cost of your transfer. A simple way to find the cheapest way to send money to Bolivia is to compare how much money gets to the recipient through different companies with the transfer amount remaining the same.
- Processing time. Transfers to Bolivian bank accounts may take up to five working days to process. The actual time depends on the country of your residence, the selected company, and the recipient’s bank. To transfer money to Bolivia in haste, consider sending it to a cash pickup center from where the recipient may collect the funds in person. These transfers tend to go through almost immediately.
- Making payments. The most commonly accepted payment method is bank account transfers. Not all companies let you pay using debit or credit cards. However, some even accept payments via various region-specific methods such as ACH, POLi, SOFORT, and iDEAL.
- Customer service. Not all companies provide over the phone support, although some provide local phone support in different countries. Most companies provide online support via email and chat. Review-based online platforms such as Feefo and Trustpilot give you an easy way to look at how previous customers of popular companies rate their services.
How to Transfer Money to Bolivia?
How you choose to send money to Bolivia is entirely up to you, and your options include online, over the phone, and in person.
- Online. You may want to transfer money to Bolivia using your bank’s online system, although comparing it with some of the leading overseas money transfer companies might work well for you.
- Over the phone. Speaking with a currency broker or dealer to send money to Bolivia over the phone is an option that some of the top companies provide. There are companies that even give their customers access to dedicated dealers.
- In-person. There are companies that operate out of physical locations and you may use their services to transfer money to Bolivia in person. These companies tend to score over banks when it comes to cost effectiveness and speed.
Camila was happy that she got an opportunity to work in Spain. While she was more than eager to move, her aging mother wanted to stay put in Bolivia because all her relatives were there. Once Camila moved to Spain, she started sending some money to her mother each month. She heard that specialist money transfer companies offered better deals than banks, so she decided to compare top players from both realms. The corresponding table shows you what she found.
|Bank||Money Transfer Service|
|Exchange rate||EUR 1 = BOB 8.0630||EUR 1 = BOB 8.2780|
|Transfer fee||EUR 20||EUR 0|
|Amoutn received for EUR 2,000||BOB 15,964.74||BOB 16,556.00|
|Transfer time||2 to 5 days||1 to 2 days|
|Transfer options||Bank account||Bank account|
|Difference of||BOB 591.26|
Camila benefitted by using the money transfer company instead of the bank because her mother stood to receive some extra money every time. In addition, she could lock in exchange rates for up to six months and also schedule subsequent transfers according to her needs.
Cash Pickup Locations in Bolivia
When sending money to Bolivia quickly is your top priority, consider getting the recipient to collect it from a physical location. Some of the top companies that have a physical presence in Bolivia include Western Union, MoneyGram, WorldRemit, Ria, and Azimo.
|Western Union in Bolivia|
|Santa Cruz de la Sierra Militel Paurito Avenida Paurito S/n Entre Prol Che Guevara Y Av Belen Santa Cruz de la Sierra||Banco Mercantil Santa Cruz Agencia Plan 3000 Av Paurito No 6070 Santa Cruz de la Sierra|
|El Alto Banco Prodem Ag Rio Seco Av Juan Pablo li Esq Av Luis Espinal El Alto||Banco Mercantil Santa Cruz Agencia Rio Seco Av Juan Pablo li N 3010 Rio Seco El Alto|
|MoneyGram in Bolivia|
|Santa Cruz de la Sierra Banco Mercantil Santa Cruz Avenida. Principal Pi Manzano 7 Santa Cruz de la Sierra||Banco Ganadero 3er. Anillo Interno Zona De Mercado Mutualista Santa Cruz de la Sierra|
|El Alto Crecer IFD - Senkata Aconcagua Entre Mercedario Y Cotacachi El Alto||Mutual La Primera Ballivian Otero Esq Calle 17B Pasje Peatonal 1309 El Alto|
Safety Tips for Picking Up Cash in Bolivia
Instances of foreigners being targeted by thieves are common, so remain vigilant at all times. Petty crimes such as pickpocketing and bag snatching are reported from the larger cities and around popular tourist destinations. Remain watchful when using public transportation and while walking around crowded areas.
Make sure you only use radio-taxis because there has been an increase in robberies that involve taxis in Santa Cruz and La Paz. Women should remain particularly careful inside clubs and hostels because instances of sexual assault have been reported. Never leave your food or drink unattended and do not accept food, drinks, or cigarettes from strangers or new acquaintances.
What Information Do I Need to Transfer Money to Bolivia?
The information that your service provider will need when sending money to Bolivia depends on the desired transfer method.
- Bank account. The information you require includes the recipient’s complete name, a bank account number, the name of the receiving bank, and the receiving bank’s SWIFT code.
- Cash pickup center. Along with the recipient’s complete name, you will also need to provide the location of a suitable cash pickup center. All the recipient needs to collect the money is a reference or transaction number and an acceptable form of photo ID.
Regulations When Transferring Money To and From Bolivia
The Bolivian boliviano is a freely convertible currency so you may send it to or from Bolivia easily. There are no restrictions on entering the country with up to U.S. $10,000 or its equivalent in another currency. You need to declare any amount over this limit upon arrival. If you bring in more than U.S. $50,000, you will need to register it with the Central Bank of Bolivia.
Sending more than U.S. $10,000 to Bolivia requires that you mention the source of the funds, and transfers of more than this amount are registered with the customs authorities. If you plan to transfer U.S. $50,000 to U.S. $500,000, you will need authorization from the central bank. To transfer more than U.S. $500,000, you will need approval from the finance ministry.
Before you send money to Bolivia the next time, make sure you compare the top companies according to where you live. Bear in mind that ongoing promotional offers give you means to save even more money.
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