Need to transfer money to Venezuela? Considering a wire to send the money to Venezuela? Before you visit your financial institution to organise it, be sure to check the wire transfer fees. It may come as a shock the amount the fees and charges will be and depending on the amount of the wire, it might not be worth sending the money by bank wire transfer to forward the money using another method.
What can make it even more costly is in addition to your bank charging a fee for sending the funds to a bank in Venezuela, the person receiving the transfer of funds will most likely also incur a fee from the bank at their end. One way to minimise the likelihood of the fee is to send the international wire transfer in their designated currency.
To make a bank wire transfer to Venezuela, you might need a SWIFT code. These are different codes for each bank and are based on a number of things such as the country and individual bank.
SWIFT Country Code
Central Bank Name
Banco Central de Venezuela