subject: Research The Methods To Send Money To Honduras [print this page] Typically, it is necessary for those in Honduras to use that country's currency, though many shops on the area's islands do accept U.S. dollars. The traditional currency in the country is the lempira, and $1 USD is equal to about 18.7 lempira. The U.S. dollar is easily exchanged in the area compared to other currencies, but it is usually best to simply transfer funds in this country's legal tender when you send money to Honduras. This way, your relative can spend it anywhere.
You might turn to a bank first to send money to Honduras. This may be convenient if your bank allows remittances to any bank in other countries, and the service is typically called a wire transfer. You should compare fees at different banks before you set one up. For example, Citibank offers this service for $30 to $40, with a $10 fee for recipients. This means if your relative banks with the Honduras branch of Citibank, they will need to pay $10 to receive the money. Obviously, this could get expensive for both of you if you need to make a transfer more than once.
There are plenty of ATMs in this country, which means that you have options other than banks when you send money to Honduras. While they are not quite as plentiful as they are in the United States, and sometimes experience issues, the areas of Tegus, Siguatepeque, and San Pedro Sula reportedly have ATMs that work perfectly. This means that the country is great for sending a prepaid debit card, which you can add money to anytime for a mere $5. Your recipient will then be able to use it at any merchant that accepts debit cards, and withdraw cash in the form of lempiras at ATMs. Clearly, a prepaid debit card is both cheap for you and convenient for your relatives.
Most people are low on expendable money these days, which means that you probably want to save funds when possible while remitting money to relatives. Exorbitant fees do not have to be part of the process of transferring money. Avoid them when possible by researching the options available before you send money to Honduras.
by: Peter Frampton
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