How to send money to Chile: Fast, Secure, and Affordable Options

they will apply. An informed decision can mean significant savings and greater efficiency in the process.

Next, we explore the main alternatives to ensure that your money reaches its destination quickly and safely.

1. International bank transfers (SWIFT): the traditional way

International bank transfer through the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network is the oldest and most universally accepted method for moving funds between countries.

Operation and requirements

To make a shipment from your bank of origin to a Chilean account (at institutions such as BancoEstado, Santander, BCI, Itaú or Scotiabank), the following recipient information is required:

• Name and RUT of the account holder.
• Account number and Account type (seen or current).
• SWIFT code of the Chilean bank, which identifies the institution at a global level.
  • Examples of SWIFT Codes: State Bank: BECHCLRM; Santander Chile: BSCHCLRM; BCI: COTICHCL.

Advantages and disadvantages

2. Specialized online platforms: speed and better rate

Online money transfer platforms have revolutionized the market, offering a more agile and cheaper alternative to traditional banks. They are the preferred option for those looking to optimize shipping cost and time.

Outstanding options in the market

• Wise (TransferWise): known for using the real market exchange rate (average rate), which makes it very transparent. The transfer rate ranges from minutes to 24 hours.
• WorldRemit: offers speed and flexibility, allowing the money to arrive as a bank deposit or, in some cases, as a cash withdrawal.
• Remitly: is characterized by its fast and economical shipping, with an “Express” mode that can complete the transfer in a matter of minutes.
• Western Union/MoneyGram (Online): although historically they are cash transfer services, their online platforms allow transfers to bank accounts. They are ideal if the recipient needs to withdraw cash at a branch, although they tend to be more expensive than purely digital platforms.

3. Local Transfer and Cryptocurrency: Specific Options

There are additional methods that are adapted to very specific needs or user profiles:

Local transfer (dual accounts)

If you or your company already have funds in a Chilean account (such as BancoEstado, Mach, Tenpo or Los Héroes), the money is sent internally, which guarantees the promptness and the absence of international commissions. This option is common for companies with operations in Chile that manage dual accounts.

Cryptocurrencies (advanced option)

For users with experience in the digital market, cryptocurrencies (such as USDT, BTC or ETH) offer a low commission and high speed route. The process generally involves buying the cryptocurrency in the country of origin, sending it to Chile, and having the recipient sell it on a local platform (such as Binance P2P or Buda.com) to receive Chilean pesos. Warning: this option requires a high level of technical knowledge and involves risks of volatility.

4. The best option depending on the country of origin

The efficiency of each method can vary significantly depending on where the transfer originates:

Conclusion and strategic recommendation

For the individual user looking for speed and low cost, the combination of online platforms such as Wise or Remitly is often the most effective.

However, for B2B companies that require a high volume of transactions, institutional-level security and the ability to integrate payments directly into their systems of back office (ERP or CRM), the solution must go beyond a simple transfer application.

In Retorna we specialize in offering fast and secure international payment gateways through our API and B2B portal. Our infrastructure is designed to simplify high-volume international shipments, ensuring immediate transactions and compliance with AML/CFT regulations, crucial elements for any serious business operation.

If your need is to send high-volume money or manage recurring B2B payments with maximum operational efficiency and security, direct integration with a robust platform is essential.

Optimize your international payments with Retorna

Stop relying on slow and expensive methods. Discover how Retorna's technology can simplify your international shipments and offer you the best exchange rate for your business.

Talk to a Retorna specialist and start optimizing your transfers today.

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