The South American nation of Bolivia takes in an amazingly varied selection of landscapes, including the Atacama Desert, the Andes Mountains and the Amazon jungle. Understandably, these are just a few of the features that make Bolivia a popular destination for Australian tourists.
What happens if you’re travelling through Bolivia and you lose your wallet or it is stolen, though? It’s quick and easy for your loved ones in Australia to send you an international money transfer, but they’ll need to compare a range of options in order to find the most cost-effective transfer method.
Send money to Bolivia with WorldRemit
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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Banks versus money transfer companies
When you need to send money to Bolivia or any other country, banks offer an easy and convenient option. However, what they don’t do is offer a cheap option. The exchange rates banks offer on international transfers are notoriously low – compare their exchange rates with those of other transfer companies to see just how bad they can be.
For a more cost-effective transfer solution, check out the services offered by the new breed of specialist money transfer companies. These providers, such as WorldFirst and WorldRemit, offer better exchange rates than the banks because they trade such large volumes of foreign currency. They also charge lower fees than the banks most of the time, so you can save yourself a lot of money if you’re willing to shop around for a more affordable deal.
Josh Sends Money to Bolivia
Josh’s best mate Daniel is backpacking around South America when he is mugged in Bolivia. He emails Josh and asks for a transfer of $1,000 to help him pay for accommodation and transport. Since his bank doesn’t support any exotic currencies, Josh contacts two specialist transfer providers to see if there might be a more affordable option available.
As the table below shows, while neither provider charges a fee for the transaction, the first provider’s superior exchange rate allows Josh to send an extra 30 Bolivianos to Daniel.
While it’s possible to send an emergency cash transfer from Australia to Bolivia in a matter of minutes, it’s always important to check out the details of your transaction before you send any funds. Urgent transfers tend to attract higher fees and lower exchange rates, so if you don’t check the full cost of a transaction first, you could end up paying a whole lot more money than you might expect.
Cash pickup locations in Bolivia/ Western Union/ MoneyGram branches in Bolivia
Western Union and MoneyGram operate the two largest money transfer networks in the world, including multiple locations in Bolivia and Australia. A selection of cash pick-up locations in Bolivia are listed below, but make sure to phone ahead to confirm addresses and opening hours before visiting. Photo ID will also be required when collecting cash.
Agente Copybol Arce Entre No 2355 Edif Cobija Pb La Paz, La Paz +591-2-2175216 Open 9am to 4pm Monday to Friday, 9am to 1pm Saturday
Banco Union S A Ag Plaza Isabel La Catolica Plaza Isabel La Catolica La Paz, La Paz +591-2-2171717 Open 9am to 4:30pm Monday to Saturday
Banco Union S A Ag Chuquisaca Calle Bolivar 385 Sucre, Chuquisaca +591-464-42244 Open 9am to 4:30pm Monday to Friday, 9am to 1pm Saturday
Crecer Av German Mendoza 2353 Central Sucre, Sucre +591-3-46913366 Open 8:30am to 5:30pm Monday to Friday, 8:30am to 12pm Saturday
Banco Mercantil Santa Cruz Avenida. 31 De Octubre 1536 La Paz, 22237048 Open 9am to 4pm Monday to Friday, 9am to 1pm Saturday
Credirapido 1 Avenida. Las Americas #24 La Paz, 59122263381 Open 9am to 7:30pm Monday to Saturday
BNB Calle Espana N 90 Zona Central Sucre, 59146453055 Open 9am to 6:30pm Monday to Saturday
Oasis Tours Calle Aniceto #95 Of. 2 Sucre 66432437 Open 8am to 8pm seven days
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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