With the Pacific Ocean on one side and the Caribbean Sea on the other, Nicaragua is famous for its spectacular scenery. From its beautiful coastline to its breathtaking volcanoes and lakes, this Central American nation has plenty to interest travellers. Nicaragua has a population of just over six million people.
When you need to send money to a friend or family member in Nicaragua, there are multiple transfer options at your disposal. If you compare the fees, exchange rates and other options available from a range of transfer providers, you’ll be able to find a better transfer deal.
International Money Transfer Offer
WorldRemit International Money Transfers Offer
Send money online within minutes
Large range of destinations
Able to send to cash pickup locations
International Money Transfer Offer
Send money to 110+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Banks versus money transfer companies
It always makes sense to compare your options when choosing a money transfer provider, because transaction costs differ substantially from one provider to the next. While banks offer a convenient and reliable transfer option, they’re also one of the most expensive choices. With low exchange rates and high fees, bank transfers are prohibitively expensive.
That’s why you can save a lot of money if you shop around for a specialist transfer company. These companies, such as WorldRemit, are experts when it comes to moving money abroad, and they can offer better exchange rates and minimal transfer fees. If you’re willing to take a few minutes to see if there’s a cheaper option available, your bank balance could benefit.
Joe Sends Money to Nicaragua
Joe wants to send $1,000 to his aunt and uncle in Nicaragua. Although Joe lives and works in Australia, he spent a year living with his aunt and uncle when he was a student and he wants to repay them for their hospitality. But when he sees just how much lower his bank’s exchange rate is when compared to the mid-market rate, he decides to compare two transfer companies to see if there’s a cheaper solution available.
As you can see from the table below, Joe can send an extra 44.20 NIO and save AUD $5 in transfer fees by using the first company.
There may be times when you need to send money to Nicaragua as quickly as possible - for example, a relative visiting the country may have had their wallet stolen and need urgent funds. The good news is that companies like Western Union and MoneyGram offer transfers in as little as 10 minutes. The bad news is that emergency cash transfers are typically a little more expensive, with higher fees and lower exchange rates typical features. Make sure you review the full cost of a transfer before you hand over any cash to ensure that you’re happy with the deal you’re getting.
Cash pickup locations in Nicaragua/ Western Union / MoneyGram branches in Nicaragua
With massive worldwide transfer networks, Western Union and MoneyGram offer the convenient option of fast cash transfers. You can see the details of some popular cash pickup locations in Nicaragua below, but make sure you take along photo ID and a transaction reference number when you go to pick up funds.
Airpak Modulo Pa-38 Ubicado En La Planta Alta Del Centro Comerci Managua, Managua 505 +505-84083291 Open 9am to 7pm Monday to Saturday, 9am to 5pm Friday
Credileasing Frente A Casa Del Perno Contig Centro De Pinturas Calle 27 De Managua, Managua 505 +505-22224055 Open 8am to 5pm Monday to Friday, 8am to 12pm Saturday
Fama Iglesia Reconciliacion 75 Vrs Leon, Leon 505 +505-23111020 Open 8am to 2:30pm Monday to Friday, 8am to 12pm Saturday
Mi Credito Esquina De Los Bancos 75 Varas Leon, Leon +505-23110575 Open 8am to 4:30pm Monday to Friday, 8am to 12pm Saturday
Banco Lafise Bancentro Contiguo A McDonald Metrocentro Managua, 22558888 Open 9am to 5:30pm Monday to Friday, 9am to 1pm Saturday
Banpro Frente Al Ministerio De Educacion Med Managua, MR80 5052600128 Open 24/7 Monday to Saturday
Banpro Calle De Los Bancos Leon, MR80 50503113036 Open 24/7 Monday to Saturday
El Verdugo Frente Supermercado La Union Leon, 25888032 Open 7am to 9:30pm seven days
The Department of Foreign Affairs and Trade advises Australian visitors to Nicaragua to exercise a high degree of caution. With this in mind, a few simple safety steps can go a long way to deterring thieves:
Take a friend with you when picking up cash
Confirm a cash pickup agent’s location and opening hours before visiting
Avoid any high-crime areas
Don’t advertise your cash in public
Don’t carry the money around for any longer than is necessary
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.
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Sign up for a new account and receive a $50 Myer gift card when you transfer $10,000 or more. Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
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