In recent years, sending remittances to Venezuela has been a high-risk activity for those who find themselves in need of transferring funds from abroad. The limitations imposed by the international banking system, inflation and the need to triangulate transactions are constantly intertwined variables.
The United Nations High Commission for Refugees states that the Venezuelan crisis has forced more than 5.5 million people to seek a future in other lands. In turn, the Washington-based think tank Inter-American Dialogue reviews that the 300,000 Venezuelans living in Spain in 2019 sent close to 400 million euros to their relatives in Venezuela, a figure that could have reached 450 million if the health crisis had not affected the economic situation.
These are respectable amounts in economic terms that coincide with the drop in income caused by the decline of the country’s traditional industries, mainly the oil industry.
The report reveals that 170,100 households in Venezuela benefited from the money remitted from Spain, with an average of US$2,400 (2,162 euros) per household. The average per shipment was about US$175 (158 euros) in about twelve transactions per year per shipper.
The data is encouraging and reflects the enormous commitment of the migrants, who at all times remain connected to the monetary needs of their families. The tools used for the remittance of foreign currency are varied and can generate various inconveniences.
The neighbor’s friend
There are users who resort to remittance receivers, businesses or contacts of Venezuelans, informal money changers who offer their services through WhatsApp messages indicating various types of exchange rates.
Much is lost along the way, and those who resort to these types of channels are the main ones affected. In most of these cases the intermediary earns (at best) very high commissions. Unfortunately, there are many stories where the money is not received by the recipient.
The greats of today and always
In this category we find companies such as: Western Union, MoneyGram, World Remmit; which have a wide international presence and are commonly known when it comes to managing money transfers.
All of them have the safety factor in their favor. As they are legally incorporated companies, they have all the requirements to guarantee the responsible management of the transactions they carry out.
The downside: high commissions. Every penny counts, and when it comes to choosing a remittance method, the percentages take on a weight that many families are not willing to assume to the detriment of their balance of income and expenses.
For connoisseurs only, Exchanges
These are platforms that allow the exchange of fiat or fiat money for cryptocurrencies. The value of this type of currency is not supported by a physical asset, such as gold, but by trust. They are backed by the state and their issuance is carried out by the Central Banks of each country.
Since the first Bitcoin was mined, the first platform to register such an exchange was PayPal on the New Liberty Standard platform. There are currently a large number of applications such as Binance, Bitpanda, Huobix, Bitfinex, Kraken, and many others where exchanges of all kinds can be made in different countries.
However, cryptocurrencies are incompatible with the Venezuelan financial system. As far as we understand, there is one that meets the conditions to integrate with the country’s economy: The Tether, which anchors its value to the dollar and has been very useful for some users.
This option is still not very user-friendly, as it does not allow direct payments at merchants and requires expert knowledge to be translated into a currency that can be used in Venezuela.
What is the best alternative to send money to Venezuela?
At Curiara we offer a reliable way to send remittances or, as we like to call them, “Curiaras”. Backed by Easy Payment and Finance, a payment institution authorized by the Central Bank of Spain, we have one of the most secure user verification systems.
In addition, we have the most competitive rates and commissions in the market that can be confirmed in a transparent manner prior to the transaction. All in a user-friendly environment, accessible from our website, by downloading the application from Google Play or Apple’s App Store.
It works to make payments from euros to bolivars and can be used throughout the European Community. Fast delivery times allow us to cover urgent needs or any kind of unforeseen events.
How do I send a Curiara?
The registration process is very simple, takes no more than 10 minutes and is done only once. Some basic information such as name, surname, fiscal address and identity card must be filled in. This is a necessary and important step because we are an institution that adheres to current international regulations and we can only work with fully identified users. In less than 24 hours the account is confirmed, enabling our customers to send their Curiaras immediately.
To make payments, the bank coordinates of the beneficiary must be indicated, which will be recorded in the profile for future transactions.
Remittances can be easily paid by wire transfer via ACH, using a debit card, credit card or Bizum. It is also possible to make Curiaras if you do not have an account, by going to a post office with cash and requesting a SEPA transfer.
Tracking is possible at any time through our platform. When the Curiara is received we send a confirmation email. All this allows our users to disengage from the process.
A very useful fact is that our transactions generate receipts that are fully valid for legal procedures, including the family reunification process.
Our team is made up of a group of businessmen with more than 30 years of experience in banking and capital markets, we are experts in the Venezuelan financial sector. We have a committed team, highly trained to solve doubts and help during the whole process.
When creating the platform we were inspired by the Curiaras of the Waraos Indians. These boats are built from the trunk of a single tree, which makes them light, safe and reliable, used from generation to generation within these communities.
This is how our service works, thought as a way of life to work together with our clients. Our goal is to facilitate the insertion of Venezuelans into the new economy, accelerating their integration, progress and keeping them connected to their loved ones from a distance.