Transfering Money to Peru.

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ExpatPeruMods
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Transfering Money to Peru.

Postby ExpatPeruMods » Tue Jun 11, 2019 12:38 pm

Are you looking for an efficient way to send money to Peru? look no further and take a look at our article "How to Transfer Money to Peru?"


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ana.amezaga
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Re: Transfering Money to Peru.

Postby ana.amezaga » Thu Aug 22, 2019 1:42 am

So far the best way for me is a wells fargo express send. Other banks have this service

You register either a local bank account or a person that will receive the money, and once either is registered you can order on line from your us acct to the registered receiver. The money gets to peru in real time for as low as 5 dollars per transaction. There are daily and monthly limits, but the cost is always 5 dollars.

Interbank is the more flexible and with better conditions for limits, other banks are bbva and credito

Hope this info is useful

Saludos
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Re: Transfering Money to Peru.

Postby woodchuck » Thu Aug 22, 2019 10:47 am

Are there any options for transferring more than $1,000,000 USD to Peru?
I understand transferring "bank to bank" using a SWIFT code will work but:
1. Will this trigger the Peruvian government getting involved in your finances?
2. Will you be required to file yearly reports (& pay fees/taxes) to Peru?

This would be a one-time transaction regarding the liquidation of a real estate trust in the US.
I greatly value my privacy & don't want any excess government paperwork or costs.
I will be interviewing Peruvian attorneys closer to the distribution date; if you have had a good experience with a specific one or even a firm, I would appreciate your feedback.
I am currently in Huaral & anticipate having to travel to Lima for these legal services.

Thanks in advance for your help.
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Re: Transfering Money to Peru.

Postby 69roadrunner » Thu Aug 22, 2019 10:58 am

woodchuck wrote:Are there any options for transferring more than $1,000,000 USD to Peru?
I understand transferring "bank to bank" using a SWIFT code will work but:
1. Will this trigger the Peruvian government getting involved in your finances?
2. Will you be required to file yearly reports (& pay fees/taxes) to Peru?

This would be a one-time transaction regarding the liquidation of a real estate trust in the US.
I greatly value my privacy & don't want any excess government paperwork or costs.
I will be interviewing Peruvian attorneys closer to the distribution date; if you have had a good experience with a specific one or even a firm, I would appreciate your feedback.
I am currently in Huaral & anticipate having to travel to Lima for these legal services.

Thanks in advance for your help.



Xoom limit is $2000
69roadrunner
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Re: Transfering Money to Peru.

Postby 69roadrunner » Thu Aug 22, 2019 11:05 am

69roadrunner wrote:
woodchuck wrote:Are there any options for transferring more than $1,000,000 USD to Peru?
I understand transferring "bank to bank" using a SWIFT code will work but:
1. Will this trigger the Peruvian government getting involved in your finances?
2. Will you be required to file yearly reports (& pay fees/taxes) to Peru?

This would be a one-time transaction regarding the liquidation of a real estate trust in the US.
I greatly value my privacy & don't want any excess government paperwork or costs.
I will be interviewing Peruvian attorneys closer to the distribution date; if you have had a good experience with a specific one or even a firm, I would appreciate your feedback.
I am currently in Huaral & anticipate having to travel to Lima for these legal services.

Thanks in advance for your help.



Xoom.com limit is $2000
Formidable 1
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Re: Transfering Money to Peru.

Postby Formidable 1 » Thu Aug 22, 2019 11:11 am

Just watch out for the defective bills...

http://www.expatperu.com/expatforums/vi ... hp?t=22743
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Re: Transfering Money to Peru.

Postby Alpineprince » Fri Aug 23, 2019 8:59 pm

You will be required to file a Fincen 114 yearly and the interest you earn will be taxed as well. The money will not be insured. Failure to file the Fincen will result in stiff fines and possible loss of passport. You will have to pay the financial transaction tax to the Peruvian Gov as well.
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Re: Transfering Money to Peru.

Postby Krusty » Tue Aug 27, 2019 10:45 am

Is Transferwise a good solution to transfer like 1000$ for example ? I've heard a lot about this solution but never tried it
krisserlis
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Re: Transfering Money to Peru.

Postby krisserlis » Tue Jan 21, 2020 1:23 am

We recently used Transferwise to send funds from Australia to Peru and it worked perfectly. The family received funds within 48 hours of our sending them. The advantage is that you send to a bank account and the recipients in Peru don't have to find a Western Union office and collect large amounts of cash.
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Re: Transfering Money to Peru.

Postby 69roadrunner » Tue Jan 21, 2020 10:30 am

krisserlis wrote:We recently used Transferwise to send funds from Australia to Peru and it worked perfectly. The family received funds within 48 hours of our sending them. The advantage is that you send to a bank account and the recipients in Peru don't have to find a Western Union office and collect large amounts of cash.

So you are saying it is free, unlike Western Union?
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Re: Transfering Money to Peru.

Postby DonaldDale » Thu Jan 23, 2020 3:05 am

How through Xoom those same have high fee like paypal?
krisserlis
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Re: Transfering Money to Peru.

Postby krisserlis » Sun Feb 16, 2020 9:17 pm

Hi 69 Roadrunner

No, Transferwise isn't free but it's cheaper than Western Union and gives a better exchange rate. Also you can transfer from bank account to bank account. This works better for us as our family members don't have to collect cash and walk home or to the bank with it. (As per WU).

I think Transferwise have an upper limit to the amount one can send in one transaction. You couldn't send $1 million! But for sending money to family in Peru it works really well for us in Australia.
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Re: Transfering Money to Peru.

Postby FDiH » Mon Feb 17, 2020 9:43 am

Worldremit seems to be a upcoming and popular service to transfer money. Haven't tried it yet: https://www.worldremit.com/

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