Send money to Peru from Spain
Remittances to Peru from Spain arrive in soles (PEN) and, increasingly, directly to mobile wallets: Peru is experiencing a digital payments boom with Yape and Plin, which has made collection cheaper and faster for many families.
The Peruvian community in Spain is one of Latin America's most consolidated, with a strong presence in Madrid and Barcelona since the 1990s. Spain is the world's second-largest sender of remittances to Peru after the United States, and the corridor combines traditional methods (bank collection) with some of the fastest digital adoption in the region.
Options for sending money to Peru
In cash, from an agent location
The most used method: you bring cash to an agent (Western Union, Ria, MoneyGram), provide the recipient's details, and within minutes it is available for collection in Peru. Spain has thousands of agents, many in call shops and neighbourhood stores:
With an app or online service
Services such as Wise, Remitly, WorldRemit or the Western Union and Ria apps let you send from your phone by card or bank transfer. They tend to offer good exchange rates and first-transfer promotions, and the recipient can receive to an account or collect cash in Peru.
International bank transfer
An international transfer from your bank is usually the most expensive and slowest option to Peru (issuing fees, correspondent fees and exchange margin). For this corridor an agent or a specialised app is almost always better value.
How the recipient gets the money in Peru
The recipient can collect cash at Interbank, BCP (Banco de Crédito) or Scotiabank branches and authorised agents, or receive the money in their account or in wallets like Yape or Plin (depending on the operator). Account deposits are usually available the same day.
Tip: If the recipient uses Yape or a bank account, digital services are often cheaper than cash on this corridor. For counter collection, choose the operator's main payout bank branches to avoid wasted trips.
What you need to send
To send money you need a valid ID (passport, DNI or NIE) and the recipient's details. To collect money you will also be asked for the transaction number (MTCN / PIN). The amount is paid out in cash at the agent location.
How much it costs to send money
The real cost has two parts: the transfer fee and the margin on the exchange rate. Combined, the total cost typically sits between 2% and 6% of the amount, although it varies by operator, amount and payment method. Always compare how much the recipient will get in their currency, not just the advertised fee.
Frequently asked questions about sending money to Peru
How long does money take to arrive in Peru?
Cash: minutes. To a bank account or wallet (Yape/Plin), from a few minutes to the same business day depending on the operator.
In which currency does money arrive in Peru?
Normally in soles (PEN). Some banks allow receiving in US dollars if the recipient's account is in USD.
What does the recipient need to collect money in Peru?
A valid Peruvian DNI and the transaction code (MTCN or PIN) for cash collection; for deposits, the account number or the phone number linked to their wallet.