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The central American nation of Guatemala boasts breathtaking volcanoes, extensive tracts of rainforest and ancient Mayan ruins. Home to a population of more than 15 million, Guatemala is bordered by Mexico, Belize, Honduras and El Salvador. If you need to send money from Australia to Guatemala, make sure to compare your transfer options – shopping around for a more cost-effective deal can lead to big savings.
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If you want to send money overseas, to Guatemala or anywhere else, your bank will most likely be able to help.
However, while banks offer an easy and convenient transfer service, they don’t offer great value for money. Their exchange rates are typically quite low and their fees are usually high, which basically means international money transfers are far less affordable than they should be.
A much more cost-effective transfer option can be found through specialist online transfer companies such as WorldRemit. These providers trade large volumes of foreign currency and can offer much better exchange rates than the banks.
Their transfer fees are also lower and sometimes even non-existent, so shopping around for a better deal is always recommended.
Jack wants to send $1,000 to Steven, his friend who lives in Guatemala. Steven’s 30th birthday is fast-approaching and Jack wants to send the money as a gift, but he’s dismayed to find that his bank doesn’t offer money transfers in an exotic currency.
In an effort to find a more attractive deal, he compares the fees and features of two specialist money transfer companies. As you can see in the table below, Jack can send an extra 14 GTQ by using the first transfer company and can also save AUD $5 in transfer fees.
| Money transfer company 1 | Money transfer company 2 | |
|---|---|---|
| Exchange rate | 1 AUD = 5.365 GTQ | 1 AUD = 5.351 GTQ |
| Transfer fee | $0 | $5 |
| Transfer method | Online bank account transfer | Online bank account transfer |
| Processing time | 1-3 days | 1-3 days |
| Amount received (in GTQ) | 5,365 GTQ | 5,351 GTQ |
Today's exchange rate AUD to GTQ
Sometimes you might need to send a fast cash transfer to Guatemala as quickly as possible, and companies like Western Union and MoneyGram can help you do this. Just be aware of the fact that emergency cash transfers tend to cost more than normal transactions due to higher fees and possibly lower exchange rates. Reviewing the details and full cost of your transaction before you agree to it is essential.
Western Union and MoneyGram offer fast and easy international cash transfers through their large money transfer networks. The details of some popular cash pickup locations across Guatemala are listed below – make sure you have photo ID and a transaction ID number handy when you go to collect cash, while you might also want to phone ahead to confirm the agent’s address.
Australian travellers to Guatemala are advised to exercise a high degree of caution by the Department of Foreign Affairs and Trade, so keep the following tips in mind when collecting cash:
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