Sending money to Bolivia has a twist that most countries in the region don’t have: there isn’t just one price for the dollar. That means two providers with the same fee can leave very different amounts in your family’s hands.
Quick answer According to the World Bank, in 2023 sending money to Bolivia cost on average 3.45% (about $6.90 for every $200), almost half of what it cost in 2016. But that figure measures the exchange rate the provider applies, and in Bolivia what really matters is comparing that rate with the one your relative could get on their own.
What it costs and how that has changed
The World Bank series, which measures the cost of sending the equivalent of $200, fee and margin included:
- 2016: 6.38%
- 2017: 5.9%
- 2018: 4.26%
- 2019: 4.97%
- 2020: 3.92%
- 2021: 4.14%
- 2022: 4.39%
- 2023: 3.45%
It has come down a lot, but Bolivia is still in the more expensive half of our 18-country table, above Mexico, Colombia or Peru.
Official and parallel rates: where the cost hides
For more than a decade the boliviano had a fixed official exchange rate of 6.96 bolivianos per dollar (buying rate). From 2023 onwards dollars became scarce in the country and a significant gap opened with the parallel market price. Exchange-rate policy has been under review since then, so the exact situation may have changed by the time you read this.
What matters for your transfer is this:
- If your relative collects in bolivianos, find out what rate the provider converts at. The difference from other available rates can be far larger than the fee.
- If they can collect in dollars, they decide when and where to exchange them. Ask beforehand whether the agent or bank actually has dollars available to pay out.
- Be careful with informal money changers: the rate may be better, but you take on the risk of scams and counterfeit bills.
How to compare providers
Always run the same test: enter the same dollar amount with two or three providers and see how many bolivianos arrive at the end, or how many dollars if they collect in dollars. Our remittance cost calculator helps you separate what goes on the fee from what goes on the exchange rate.
Ways to receive money in Bolivia
- Bank deposit into a Bolivian account: convenient if your relative already has one.
- Cash pickup at agents and partner banks, useful outside the big cities.
- Mobile wallets, which have grown in recent years; check that the provider supports them and what it costs to withdraw.
Three common mistakes
- Choosing by the advertised fee. With a bad exchange rate, “no fee” can be the most expensive option.
- Paying with a credit card: many issuers treat it as a cash advance, with a fee and interest.
- Sending small amounts often. Fixed fees weigh heavily on small transfers.
And if you pay for the remittance in cash from the United States, remember that since 2026 there is a 1% federal tax on that kind of transfer. Paying from a bank account or with debit, it generally doesn’t apply.
Related articles
Official sources
To check what this guide explains, these are the official references. If a rule changes, the official version always prevails.
- CFPB: what is a remittance transfer and what are my rights: required disclosures, 30 minutes to cancel and 180 days to report errors.
- World Bank: average cost of sending remittances to each country (percentage of a $200 transfer)
