Last updated on March 8th, 2024 at 05:08 pm
As of 2019, over 3.2 million Peruvians were living abroad, accounting for approximately 10.1% of the total population. Many of these migrants work to send money home to their loved ones.
In the third quarter of 2021, remittances in Peru hit an all-time high of US$887.31 million.
As of 2020, the average transfer fee for an international remittance was 7%, which amounts to tens of billions of dollars on an annual basis. Is there a better way to send money with low transfer fees?
Consider online money transfer companies like Remitly—reliable, easy to use, safe transfer, and low fees.
In this article, we will cover how to safely send money to Peru and common FAQs.
Why Should I Use Remitly to Send Money to Peru?
Remitly offers competitive exchange rates, secure and fast delivery.
The pricing structure for sending money to Peru is simple with no hidden fees.
Send Money to Peru in 5 Easy Steps
Sending money online to your loved ones with Remitly is simple. First, if you haven’t already, download the app and create an account.
- Set Peru as your destination country.
- Enter the transfer amount you want to send.
- Select your preferred delivery method—bank deposit or cash pickup.
- Enter your recipient details including the recipient’s bank account, bank details, or phone number.
- Add your payment method such as your debit card or credit card info.
Remitly may ask for additional documentation depending on the amount you send or if we’re unable to verify your identity.
With Remitly, Which Banks/Providers Can I Send To?
As of this writing, you can use Remitly to send money to these banks and providers in Peru.
- Interbank
- BanBif
- Banco Azteca
- Mibanco
- BBVA
These are just some places in Peru where you can send money with Remitly. For the complete list, check the app or the website.
How Much Money Can I Send to Peru With Remitly?
To ensure top-quality customer service while adhering to strict security standards and international regulations, Remitly has implemented sending limits. These limits apply when you first open your account.
For customers who send to Peru from the United States, as of writing, the initial sending limits with Remitly are:
- $2,999 in 24 hours
- $10,000 in 30 days
- $18,000 in 180 days
Once you reach tier three, you can send up to $60,000 in 180 days. Learn more about sending limits.
Wonder how much 1 USD (U.S. dollar) can exchange for PEN (Peruvian sol)? Check out Remitly’s website for the most current rates.
How Much Does It Cost to Send Money to Peru With Remitly?
For the most up-to-date pricing and exchange rates on money transfers to Peru, please check the Remitly website or app.
At the time of this writing, transfer fees to Peru if the recipient receives money in PEN are:
- If you’re a U.S. customer, Express transfers are USD $4.99 and Economy transfers are USD $1.99.
- For customers in Canada, Express transfers are CAD $5.99 and Economy transfers are CAD $2.99.
- For those in Australia, Express transfers start at AUD $5.99 AUD and Economy transfers are AUD $3.99.
- If you’re living in the United Kingdom, Express transfers are GBP £2.99 GBP and Economy transfers are GBP £1.99 GBP.
Is It Safe To Send Money to Peru With Remitly?
Millions of people around the globe trust Remitly because of the secure and smooth money transfer experience we provide. You can learn more about how Remitly goes above and beyond to keep your information and money safe.
Remitly uses multiple levels of security so you can send money home with peace of mind. Your personal data is protected 24 hours a day through fraud monitoring and encryption. For more information about our security, please visit here.
You and your recipients can track the transfers in real-time and receive notifications, so you won’t have to worry about where the money is. If you have questions throughout the process, we offer help 24/7.
You can have peace of mind that the money you’ve worked hard to earn will safely get to its destination.
More About Peru
Nearly 33 million people call Peru home, with a large portion of the population living in Lima, Arequipa, and Trujillo. The official language is Spanish, with around 84% of the Peruvian population speaking this language. However, several native languages are still spoken, including Quechua and Aymara.
Peru’s history is vast, with the earliest inhabitants arriving approximately 15,000 years ago and societies emerging over 5,000 years ago. Today, Peru is one of the richest countries concerning natural resources, including gold, copper, silver, lead, iron, oil, and natural gas. Still, it is very hard to find a job.
Peru’s currency, the sol, was first introduced in the 1860s but was replaced when Chile occupied the country. Several changes have been made to the country’s monetary system since then, but in 1991, the sol returned. The Central Reserve Bank of Peru has the exclusive authority to issue coins and banknotes.
Read more: Peru Independence Day: A Guide to Celebrations and History
Peruvian emigration began to increase in the 1980s, driven by economic factors. Today, most Peruvians living abroad are in the United States (30.3%), Spain (15.1%), Argentina (13.9%), Chile (11.85), and Italy (10.1%). Data shows that those from Peru are highly skilled and 80% of Peruvian migrants in the United States have completed secondary or higher education.