What currency does Chile use? The Chilean peso (CLP) is the official currency of Chile, having been in circulation since 1975. One peso is divided into 100 centavos, although centavo-denominated coins are no longer in use.
When sending money to a bank account in Chile, you will need the bank’s SWIFT code. Given below are SWIFT codes of some prominent banks in the country.
|Banco Central de Chile||Santiago||BCECCLA1XXX|
|Banco de Chile||Santiago||BCHICLRMXXX|
|Banco del Estado de Chile||Santiago||BECHCLRMXXX|
Benjamin led a fairly comfortable life in Chile with his wife and young son. At one point, he was required to travel to the U.S. on a long-term work assignment. He was sure he wanted to come back as soon as he could, so his wife and son continued living in Chile. Once he got to the U.S., he had to start sending them money every month. While he could use the services of a bank, he decided to compare his options. This is what he found.
|BANK||MONEY TRANSFER SERVICE|
|Exchange rate||$1 = CLP 587.632||$1 = CLP 602.70|
|Amount received for $1,500||CLP 866,757.20||CLP 904,050.00|
|Transfer time||2 to 6 days||2 to 3 days|
|Transfer options||Bank account||Bank account|
|Difference of||CLP 37,292.80|
Turning to the overseas money transfer company worked better than the bank because it resulted in Benjamin’s wife getting extra money each month. The company was quicker to process the transfer and it also let Benjamin schedule subsequent transfers in advance.
If you want to transfer money to Chile in a hurry, consider turning to overseas money transfer companies such as MoneyGram, WorldRemit, Western Union, or Ria, because they have extensive agent networks in the country. Given below are addresses of some cash pickup locations in Chile.
|MONEYGRAM IN CHILE|
|Santiago Correos Chile Estacion Metro U. De Chile Local 25 Santiago||Afex Pedro De Valdivia No 012 Santiago|
|Valdivia Correos Chile O'Higgins 575 Valdivia||Correos Chile Bueras 1931 Valdivia|
|WESTERN UNION IN CHILE|
|Santiago Chilexpress S A Alameda 2128 Santiago||Sandy Iturra Alameda 1261 Local 18 Santiago|
|Valdivia Chilexpress SA Valdivia 440 Local Bh 124 Valdivia||Chilexpress S A Camilo Henriquez 785 Valdivia|
Muggings and pickpocketing take place commonly in and around most cities in Brazil, especially around tourist destinations, places frequented by foreigners, and bus stations. If you visit a café or a restaurant, keep your belongings carefully.
Keep your valuables with you when travelling on buses and do not put them in storage compartments. Refrain from walking alone after dark. If you plan to use a taxi at night, try to book one ahead of time instead of hailing one off the street. Instances of drinks being spiked have been reported from some areas in Santiago.
The information you need when sending money to Chile depends on the transfer method you select.
The Central Bank of Chile regulates and inflow and outflow of money to and from the country. However, there are no restrictions on how much money to may send to or transfer from the country. If you plan to leave the country with U.S. $10,000 or more, you are required to declare it to the country’s customs authorities.