Learn if a Prepaid Debit Card is the Best Route for You to Transfer Money to El Salvador
Courtesy of Money Transfer
If you plan to transfer Money to El Salvador to kin in need of financial assistance, you should find out the best routes to do so. The best method to use would be one that is convenient for your family, and cheap for you. One of the more common routes is to use a prepaid debit card that you can add funds to at any time, but you should first check to make sure that your family members in El Salvador could benefit from such a card.
The old trend in El Salvador was for only Visa cards to be accepted at machines, but now MasterCard has become much more used, so it is fine to use this type of card in the country. In fact, ATM's can be found in most large cities, especially since many banks, such as Scotia Bank, Banco Cuscatlan, and Banco Atlantida have huge ATM networks. They accept most kinds of debit cards.
Of course San Salvador is where most ATM's can be found since it is such a big city, but malls in Santa Anna and San Miguel also have multiplecash machines. However, if your relative resides in or near la Libertad, Perquin, or Suchitoto, they should be aware that ATM's are challenging, if not impossible to find in those cities. If that is the case, another route may be best for you to transfer money to El Salvador unless they are fine with traveling to withdraw money.
One attractive detail about El Salvador that may make it easy for you transmit money there is that dollars are not only accepted, but expected there. The American dollar is now the official currency instead of the Salvadoran Colon. This means that you will not have to make any calculations when deciding how much money to transfer to El Salvador using a prepaid debit card. However, your relatives should know that many shop owners do not accept large bills, such as $50 or $100, so it best to get cash out in increments of $20 from ATM's. Additionally, some stores do take prepaid debit cards, but since it is not required, it is best to always carry some cash in this country.
To make sure that your relatives can have access to the funds you transport to them, you should make sure that a debit card would work well for them. If they live in a small, rural area with few tourists, they will probably not have several ATM's or retailers that take debit cards nearby. Of course, they could drive a bit to the next bigger city to withdraw cash when they need it, but you will have to make sure they have the means to do so before you transfer money to El Salvador through a debit card. If not, you should look into some of the other pathways that might be more convenient for them, but possibly more costly for you.
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Views expressed in the article are those of the author and are not necessarily the opinions of CaribbeanChoice, its staff or members.