Sending money to Bhutan may seem like a daunting task, especially if you’re unfamiliar with the available options. Whether you’re a family member, or a friend looking to send funds back home, this guide will walk you through the most reliable and cost-effective methods.

Table of Contents

  1. Bank Transfers
  2. Online Money Transfer Services
  3. Cryptocurrency
  4. Western Union and MoneyGram
  5. Precautions and Tips

Bank Transfers

What Are Bank Transfers?

A bank transfer is one of the most traditional methods of sending money internationally. It involves transferring funds from one bank account to another.

Pros and Cons

  • Pros: Secure, can handle large amounts.
  • Cons: Slower, higher fees, both sender and receiver need bank accounts.

How to Send Money to Bhutan via Bank Transfer

  1. Contact your bank to inquire about international transfers.
  2. Provide the recipient’s bank details, including the SWIFT/BIC code.
  3. Confirm the transfer and wait for the transaction to complete.

Western Union and MoneyGram

What Are Western Union and MoneyGram?

These are money transfer services that allow you to send funds to a local branch where the recipient can pick them up in cash.

Pros and Cons

  • Pros: Fast, no need for a bank account, widely available.
  • Cons: Higher fees, less secure.

How to Use Western Union and MoneyGram

  1. Visit a local branch or use their online service.
  2. Provide the recipient’s details and the amount to send.
  3. Pay the fees and complete the transfer.

Online Money Transfer Services

What Are Online Money Transfer Services?

Companies like TransferWise, PayPal, and Skrill offer online platforms for sending money abroad.

Pros and Cons

  • Pros: Fast, lower fees, convenient.
  • Cons: Limits on transfer amounts, both parties need an account with the service.

How to Use Online Money Transfer Services

  1. Create an account with the service.
  2. Add your payment method.
  3. Enter the recipient’s details.
  4. Confirm and send the money.

Cryptocurrency

What Is Cryptocurrency?

Cryptocurrency is a digital or virtual currency that uses cryptography for security. Bitcoin, Ethereum, and Ripple are examples.

Pros and Cons

  • Pros: Fast, low fees, secure.
  • Cons: Volatile, both parties need a digital wallet, not widely accepted.

How to Send Money to Bhutan via Cryptocurrency

  1. Buy cryptocurrency from an exchange.
  2. Transfer it to your digital wallet.
  3. Send it to the recipient’s digital wallet.

Precautions and Tips

  • Always double-check the recipient’s details.
  • Be aware of exchange rates and fees.
  • Confirm the transaction with the recipient.

Conclusion

Sending money to Bhutan has never been easier, thanks to a variety of options available. Whether you opt for a traditional bank transfer or explore online services and cryptocurrencies, make sure to consider the pros and cons of each method to find the one that best suits your needs.