2 min readfrom travel

Bolivia: Money transfer to myself and qr code for visitors, taking advantage of parallel rate

Important: if you've never been to Bolivia recently, and if you don't understand what parallel rate means, please refrain from commenting.

I’ll visit sta Cruz next week, I’m exploring options to send money to myself to pick up bob cash once I arrive. I’ll also bring USD 100 bills.

It seems like MoneyGram gives the best rate at 936/USD 100, no fee for the first time. I also checked its competitors: Wise, Western Union, Ria, remitly, and xoom. They all had somewhere in high 800s, Xoom being the one of the worst at 821.

Are there any providers better than MoneyGram?

MoneyGram and many other providers don’t have options to pick up at vvi airport, though. I guess I’ll need to use ATM or change small amount enough to get myself into the center? Another small concern is what happens to the money I send if I need to cancel my trip due to unforeseen events like illness.

I also started exploring QR codes. I looked at wanderwallet, I couldn’t check the rate. Maybe I should download the app, but their website says 8.8-9.0. I can’t find the info about their fees, but their screenshot shows a USD 0.20 fee, so if it’s a fixed amount per transaction, it makes small purchases poor value. I’ll look at takenos, banexcoin and Meru. Any other recommendations? I’m a visitor , and I don’t have any bank accounts in Bolivia.

submitted by /u/maverikbc
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