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.
A worked example
If you send $200 and your family receives it in bolivianos at the official rate, they get about Bs 2,362.00 before fees. If they receive USDT and sell it on P2P at today's buy price, about Bs 2,388.00. A provider that charges no fee but uses a rate Bs 0.30 below the official one would deliver Bs 2,302.00. Always compare the final bolivianos.
Receiving in dollars or in bolivianos?
If the recipient has a dollar account, they can keep the money in dollars and convert only what they need. Cash dollar withdrawals from Bolivian banks follow the Central Bank's refund schedule. Apps with US accounts are compared in dollar accounts from Bolivia.