If you are looking for the best way to send money to Chile, you are not alone. Fortunately, you no longer need to use the services of banks, and you now get quicker, easier, and more cost effective ways to transfer money to Chile. Your alternatives come in the form of specialist money transfer companies, most of which let their customers transfer funds online.
Transfer Money to Chile
- 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 Chile use? The Chilean peso (CLP) is the official currency of Chile, having been in circulation since 1975. One peso is divided into 100 centavos, although centavo-denominated coins are no longer in use.
When sending money to a bank account in Chile, you will need the bank’s SWIFT code. Given below are SWIFT codes of some prominent banks in the country.
|Banco Central de Chile||Santiago||BCECCLA1XXX|
|Banco de Chile||Santiago||BCHICLRMXXX|
|Banco del Estado de Chile||Santiago||BECHCLRMXXX|
Popular Currency Corridors
Although it does not feature prominently on the international remittance map, a considerable amount of money flows in and out of Chile regularly. In 2016, around U.S. $104 million made its way to Chile from other countries as remittances. In the same year, around U.S. $841 million was sent as remittances from Chile to other countries.
The tables below indicate how much money flowed in and out of Chile as remittances in 2016, and the figures are listed in American dollars.
How Do I Compare Companies When Sending Money to Chile?
You may want to transfer money to Chile from Argentina, the U.S., Spain, Sweden, or another country; or you might want to send money out of Chile. In any such scenario, comparing overseas money transfer companies requires that you pay attention to the same aspects.
- Fees and exchange rates. The cost of sending money to Chile depends on the exchange rate that applies on your transfer and the fees you end up paying. Since these tend to vary from one service provider to the next, simply look at how much money the recipient will receive at the end of the process.
- Turnaround time. Transfers to bank accounts in Chile may take up to six working days, depending on the company you select, the recipient’s bank, and your country of residence. To send money to Chile in haste, turning to companies that have cash pickup locations in the country might be a good idea. This is because these transfers usually process in close to real time.
- Payment methods. If you want to pay for your transfer using your bank account, you may select just about any overseas money transfer company. Not all companies accept debit and credit card payments, although you still get several alternatives. Some companies even let you pay using region-specific methods such as SOFORT, iDEAL, and POLi.
- Customer service. This aspect requires your particular attention if you plan to send money to Chile regularly. While some of the top companies provide local phone support in different countries, support via chat and email is easier to find. To know how previous customers of these companies rate their services, you may turn to websites such as Trustpilot and Feefo.
How to Transfer Money to Chile?
Depending on the method you are comfortable with, you may initiate the process of sending money to Chile in different ways.
- Online. You may be able to use your bank’s services to send money to Chile online, although you may want to compare its cost effectiveness and speed with some of the top overseas money transfer companies.
- Over the phone. Finding companies that let you transfer money to Chile over the phone is easy. You can also find companies that give their customers access to dedicated currency dealers.
- In-person. One way to send money to Chile in person is to visit your local bank. However, it may be worth your while to turn to a money transfer company that operates out of physical locations or has agent networks.
Benjamin led a fairly comfortable life in Chile with his wife and young son. At one point, he was required to travel to the U.S. on a long-term work assignment. He was sure he wanted to come back as soon as he could, so his wife and son continued living in Chile. Once he got to the U.S., he had to start sending them money every month. While he could use the services of a bank, he decided to compare his options. This is what he found.
|Bank||Money Transfer Service|
|Exchange rate||$1 = CLP 587.632||$1 = CLP 602.70|
|Amount received for $1,500||CLP 866,757.20||CLP 904,050.00|
|Transfer time||2 to 6 days||2 to 3 days|
|Transfer options||Bank account||Bank account|
|Difference of||CLP 37,292.80|
Turning to the overseas money transfer company worked better than the bank because it resulted in Benjamin’s wife getting extra money each month. The company was quicker to process the transfer and it also let Benjamin schedule subsequent transfers in advance.
Cash Pickup Locations in Chile
If you want to transfer money to Chile in a hurry, consider turning to overseas money transfer companies such as MoneyGram, WorldRemit, Western Union, or Ria, because they have extensive agent networks in the country. Given below are addresses of some cash pickup locations in Chile.
|MoneyGram in Chile|
|Santiago Correos Chile Estacion Metro U. De Chile Local 25 Santiago||Afex Pedro De Valdivia No 012 Santiago|
|Valdivia Correos Chile O'Higgins 575 Valdivia||Correos Chile Bueras 1931 Valdivia|
|Western Union in Chile|
|Santiago Chilexpress S A Alameda 2128 Santiago||Sandy Iturra Alameda 1261 Local 18 Santiago|
|Valdivia Chilexpress SA Valdivia 440 Local Bh 124 Valdivia||Chilexpress S A Camilo Henriquez 785 Valdivia|
Safety Tips for Picking Up Cash in Chile
Muggings and pickpocketing take place commonly in and around most cities in Brazil, especially around tourist destinations, places frequented by foreigners, and bus stations. If you visit a café or a restaurant, keep your belongings carefully.
Keep your valuables with you when travelling on buses and do not put them in storage compartments. Refrain from walking alone after dark. If you plan to use a taxi at night, try to book one ahead of time instead of hailing one off the street. Instances of drinks being spiked have been reported from some areas in Santiago.
What Information Do I Need to Transfer Money to Chile?
The information you need when sending money to Chile depends on the transfer method you select.
- Transfer to a bank account. You will need the recipient’s complete name and account number as well as the receiving bank’s name and SWIFT code.
- Transfer to physical location. You will need to provide the recipient’s complete name as well as the location of a desired cash pickup center. The recipient will need to provide an acceptable form of ID along with a reference number to collect the transferred money.
Regulations When Transferring Money To and From Chile
The Central Bank of Chile regulates and inflow and outflow of money to and from the country. However, there are no restrictions on how much money to may send to or transfer from the country. If you plan to leave the country with U.S. $10,000 or more, you are required to declare it to the country’s customs authorities.
When you need to transfer money to Chile the next time around, make sure you compare the top money transfer companies based on where you live. Follow it up by looking for ongoing promotions that may lead to added savings.
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