4 ms·
In El Salvador banks transfers within the same bank are free, and transfers between banks are free or cost less than USD 1. Depending on which network is used,
by el-salvador 5y ago
In El Salvador banks transfers within the same bank are free, and transfers between banks are free or cost less than USD 1. Depending on which network is used, they are instant or take less than an hour. One network is 24/7 and the other one works in banking hours.
Remittances, like Western Union, just take a few minutes but have higher fees. Especially for smaller amounts.
International bank transfers cost between USD 11 up to USD 40. Both the sender and receiver pay. They are only worth for larger amounts, for example between El Salvador and the U.S, if the transfers are done before noon and during a working day, they usually arrive on the same day.
Depositing U.S. checks in El Salvador banks is free or cost less than USD 5. This is very slow though, and may up to 30 working days to clear. It may be faster now, but it depends on the bank.