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Remittances

How much does it really cost to send money to Venezuela?

By Romulo Felizola · Published

Calculator

What it really costs you

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We compare against the official rate because it is the only one with a public source. If the provider pays out in dollars in Venezuela, enter the equivalent in «Bolívares received» or compare only the fee.

The real cost of a remittance is the fee plus what you lose on the exchange rate. Enter what you send, what you are charged and how many bolívares arrive: the calculator compares it with the official BCV dollar and tells you what you really paid, in dollars and as a percentage.

The two parts of the cost

  1. The fee. What the provider charges on top for sending. This is the visible part.
  2. The exchange-rate margin. The gap between the rate the provider uses and the official rate. If the official rate is 900 Bs per dollar and your family receives 870 per dollar, you lost 30 Bs per dollar even though nobody called it a fee.

The World Bank measures remittance costs worldwide this way: fee plus exchange-rate margin, as a percentage of the amount sent. We use the same approach.

Example

You send 200 dollars, pay a 5-dollar fee and 174,000 Bs arrive. At an official rate of 900 Bs, those bolívares are worth 193.33 dollars. You paid 205 and the equivalent of 193.33 arrived: the real cost was 11.67 dollars, 5.7%, even though the fee was only 5.

Be wary of rates that look too good. If someone offers to pay far above the official rate, ask why. Send only through providers you can identify and that give you a receipt.

Questions people ask

Why isn't the fee enough to compare?

Because many providers charge little or no fee but pay out bolívares at a rate below the official one. That gap also comes out of your pocket; it just isn't called a fee.

Which rate do you compare against?

The official rate of the Banco Central de Venezuela, because it is the only one with a public source anyone can check. The calculator comes pre-filled with today's.

What if the provider pays out cash dollars in Venezuela?

Then there is no exchange-rate gap: compare only the fee and any pickup charges. To use the calculator anyway, enter in «Bolívares received» the bolívar equivalent of what the recipient gets.

Sources checked on November 8, 2026

  1. Banco Central de Venezuela — reference exchange rate
  2. World Bank — Remittance Prices Worldwide (total cost = fee + exchange-rate margin)

Something changed or looks wrong? Send us a correction.

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