Send Money to Nicaragua

OFX
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Moneycorp
Margin Rate: 0.70%
Minimum Transfer: 250
Transaction Fees: £0
FCA Regualted: FCA Regulated
TorFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
VoltrexFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Currencies Direct
Margin Rate: 0.7%
Minimum Transfer: £500
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Nicaragua

Send money transfer to Nicaragua

There are no restrictions on moving funds into or out of Nicaragua. The right to do so freely and without delay is enshrined in law there. Up to 15% of the GDP of Nicaragua comes from flows into the country from foreign investors or benefactors. For a business seeking to invest there they will find there are similarly no restrictions though bureaucracy and corruption are a different matter.

For individuals, transfers of funds to Nicaragua should be trouble free. The country has been known to bring in occasional moderate restrictions or reporting requirements but the country depends to a large extent on these flows and is keen not to discourage them. Similarly businesses will find foreign direct investment encouraged and financial incentives have been offered on tourism projects and in some areas of manufacturing.

For simple transfers to Nicaragua there are different options available:

Provided the recipient has a bank account in Nicaragua a bank transfer will be the easiest method of sending cash. If you want to send cash without using your bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments found in major cities around the world and are very common in Nicaragua. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online. Once this procedure is done, the recipient can pick up the money at another office simply by showing his or her own ID. With the transaction number you receive, you can track the status of your transfer online.

Bank Note System
The cordoba is based on a systems of hundredths, with 1 cordoba equal to 100 centavos, its subunit. The cordoba and centavo coins commonly used today include the 5, 10, 25, and 50 centavo coins, and the C$1, C$5, and C$10 cordoba coins. Common banknotes are the C$10, C$20, C$50, C$100, C$200, and C$500 bills.

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