The three costs of a remittance
- Transfer fee: a fixed amount, a percentage or both. Sometimes it is zero and the provider earns on the exchange rate.
- Exchange rate applied: the most overlooked cost. Compare the rate you are offered with today's official and parallel rates. Every Bs 0.10 per dollar counts: on $500 it is Bs 50.
- Receiving cost: cash pickup, bank deposit or wallet. Intermediary banks may deduct fees along the way. For example, Banco Ganadero charges a minimum of Bs 100 to receive a foreign transfer of up to USD 3,000 and 0.60% from USD 3,001.
Ways to send money to Bolivia
| Option | How it arrives | What to check |
|---|---|---|
| Remittance company or app | Bolivianos at an agent or in a bank account | Rate applied, fee and limits per transfer |
| International bank transfer | Dollars or bolivianos in a Bolivian account | Intermediary bank fees, timing and the rate used if converted |
| Stablecoins (USDT) | USDT that the recipient sells for bolivianos on P2P | Whether the recipient can trade P2P safely, network costs and the day's buy price |
Sending USDT often delivers more bolivianos when the parallel rate is above the official one, but it shifts work and risk to the recipient. They need a verified account and must never release USDT before seeing the payment. See USDT in Bolivia.
Good news for dollar accounts
Until April 2026, deposits and withdrawals in dollars paid a 0.30% financial transactions tax (ITF). Law 1717 of April 10, 2026 abolished it.
Checklist before sending
- Ask for the final amount in bolivianos, not just the fee.
- Confirm the recipient's name exactly as it appears on their ID.
- Keep the transfer receipt and reference number.