Sending money across borders isn’t just about clicking a button and hoping for the best. If you need to send US dollars to someone in Guatemala—especially if you want to ensure fair exchange rates and avoid unnecessary fees—there are a few things you should know from someone who’s been through the process numerous times. This guide covers practical steps, includes real-world screenshots, and highlights the quirks and legal frameworks you might not expect. I’ll also dig into how “verified trade” is handled differently by US and Guatemalan authorities, in case you’re working with larger sums or business transfers.
A couple of years ago, I needed to send money to a friend in Guatemala City. I assumed, naively, that PayPal or my US bank would handle everything smoothly. Spoiler: it wasn’t that simple. Exchange rates, pick-up options, and even local regulations came into play. Turns out, not all services convert dollars to quetzals automatically, and a few even let your recipient collect US dollars in cash.
For personal remittances, the key questions become: How fast will the money arrive? Will the recipient get dollars or quetzals? What will the final amount be after fees and conversion? For business, things get even trickier with “verified trade” standards—something I’ll explain with a real-world example.
Let’s walk through my actual attempts, including what worked, what didn’t, and how the recipient fared.
Wise is my go-to for most international transfers because their fee structure is upfront and their mid-market rate is unbeatable. Here’s the catch: Wise only lets you send to Guatemalan bank accounts in quetzals (GTQ), not in US dollars. That means Wise does the conversion at their rate before the money hits the other side.
Screenshot: Wise Send Money to Guatemala
Steps:
Actual experience: I sent $500 and my friend got slightly less than the rate shown on XE.com, but Wise’s fee was lower than Western Union or PayPal. The transfer landed in about 2 days.
Western Union is ubiquitous in Guatemala, with locations even in smaller towns. What’s unique: you can send USD and, at some locations, the recipient can actually pick up US dollars in cash—though this depends on the partner agent and local cash availability.
Screenshot: WU Send Money to Guatemala
Steps:
My friend in Antigua picked up dollars once, but another time the agent only had quetzals—so always check in advance. The exchange rate at pickup can be less favorable than the mid-market rate, and the fees add up fast.
Remitly is another major player, useful for sending dollars if your recipient wants to pick up cash at certain banks (like Banrural or Banco Industrial). Their process is smooth, and they often have promo rates for first-time users.
Screenshot: Remitly Guatemala
Steps:
On my last attempt, the cash pickup in USD worked at a Banrural branch, but the teller warned that for larger sums, they sometimes require advance notice. The online tracking is transparent, and delivery times are usually within minutes for cash pickup.
Some US banks (like Wells Fargo with their ExpressSend service) partner with Guatemalan banks. But here’s the kicker: direct USD transfers are generally only possible to “dollar accounts,” which not every Guatemalan has. Most personal accounts are in quetzals, so the bank will convert at its own rate—often less favorable than Wise or Remitly.
Expert note: According to the Bank of Guatemala, all incoming foreign currency transfers must be declared and may be subject to additional checks for anti-money laundering. So banks err on the side of converting everything to quetzals unless you specify (and the recipient has) a USD account.
PayPal works if both you and the recipient have verified accounts. But to withdraw funds in Guatemala, the recipient must link PayPal to a US dollar bank account, which is rare. Otherwise, they’ll need to use a third-party service to move funds, often at unfavorable rates.
Forum reference: A recent expat.com thread discusses the headaches of PayPal withdrawals in Guatemala—worth a look before trying this route.
For business transfers or large sums, “verified trade” (or “certified remittance”) becomes relevant. Different countries have different standards, and it impacts how your transfer is scrutinized or delayed. Here’s a quick table I compiled after digging through WTO and Guatemalan banking rules:
| Country | Standard Name | Legal Basis | Enforcement Agency |
|---|---|---|---|
| United States | OFAC/AML Compliance | Bank Secrecy Act (31 USC 5311 et seq.) | FinCEN, OFAC |
| Guatemala | Certificación de Remesas | Ley de Bancos y Grupos Financieros | Superintendencia de Bancos (SIB) |
In practice, if you send more than $10,000, both US and Guatemalan authorities will want to know the source and purpose. For businesses, having a proper invoice and “certificación de remesas” can speed things up. For personal remittances under $10,000, the process is usually smooth, but be ready for questions if you approach the threshold.
I once helped a small US exporter send a payment for coffee beans to a Guatemalan producer. The US bank flagged the transfer for additional verification (OFAC check), asking for a contract and invoice. On the Guatemalan side, the receiving bank demanded a “certificación de remesas” for foreign currency inflows, as per SIB regulation 41-2002. The whole process took over a week, with multiple back-and-forths. Lesson: for business, have all paperwork in order, and expect extra scrutiny if your transfer is large or labeled as “business.”
I reached out to Ana Morales, a compliance officer at Banco Industrial, who told me:
“Most remittances from the US for personal use are processed in 1-2 days, regardless of whether the sender chooses USD or quetzals. But for business, especially with new clients, our anti-money laundering team will ask for documentation. If the sender uses a service like Western Union, the process is much faster and less paperwork is required on our end—though the fees are higher.”
Here’s where I fumbled: I once sent via PayPal, thinking my friend could just “cash out” in dollars. He ended up paying double fees, first to convert to quetzals, then to withdraw via a local bank. Another time, I used Wise, but my friend’s bank charged a “foreign incoming transfer” fee on top of Wise’s rates—something not advertised on either website.
So: always check with the recipient’s local bank about incoming fees, and clarify if they can accept USD directly (some banks, like Banco Industrial, offer “cuentas en dólares,” but they’re not default accounts).
You have several reliable options for sending US dollars to Guatemala. For personal use, Western Union and Remitly let recipients pick up dollars (if available), while Wise is best for transparent conversion to quetzals. For large or business transfers, prepare your paperwork and expect extra checks. Always compare fees and rates, and—crucially—ask your recipient what works best for them before sending.
If you’re sending more than $10,000 or dealing with business transactions, consult the relevant US (FinCEN) and Guatemalan (Superintendencia de Bancos) regulations for the latest compliance rules. For personal remittances, stick to trusted services and keep receipts. And don’t be shy about calling the local Guatemalan bank ahead of time—sometimes, they’ll warn you about quirks or extra fees no website mentions.
In short: test with a small amount first, document everything, and don’t assume what works in the US will be the same in Guatemala. If you’ve got your own war stories or tips, let’s trade notes.