The Ultimate Guide For Latin Americans To Receive Dollars From The U.S.
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The Ultimate Guide For Latin Americans To Receive Dollars From The U.S.

Getting a job with a U.S. company is not only possible, but necessary. Yet, have you ever wondered how you can receive dollars while in Latin America? There have already been thousands of people who have done it and paved the way for you. Compiling all their experiences, we have written the best guide to receive dollars from any country in Latin America.

So let’s look at the most popular methods of receiving dollars, the most important questions about each one, and general considerations for each country.


Laptop with a credit card in front of it

PayPal is an online financial service that works like a bank account where you can send and receive money using your email. You can open a free account and associate all your credit and debit cards.

How can I receive my compensation in PayPal?

As a first step, you must create a PayPal account and confirm your email. Once your account is verified, the provider will be able to send you the payment using your email or phone number. You will receive a notification from PayPal advising that the payment is on the way.

After the payment gets to your PayPal account, you can choose to make a withdrawal to your bank account, for which you will have to connect the bank account to your PayPal. You could also leave it on PayPal if you need to transfer it to other people or make payments online.

Is there any fee associated with PayPal transfers?

In PayPal, you do not pay opening or monthly commissions. In the following link, you can review what the fees are depending on the transaction. You can get fewer fees if your provider sends your payment as a “personal transfer.”

On the other hand, if you decide to make a withdrawal from your PayPal account to your bank account in USD, you will be charged a fixed fee. The weekly limit to make a withdrawal from PayPal today is $3,000.

How can I withdraw my compensation from PayPal?

There are many ways to withdraw money from PayPal depending on the country. However, the two most common ways to do it are:

  • Standard transfer to your bank account: the money will be available in your bank account within 1 to 3 business days. Sometimes it can take up to 5 days, depending on your bank’s clearing process. Paypal does not charge fees for it, but some banks may charge a fee for wire transfers.
  • Instant transfer to your debit card: You can add the details of a card to your Paypal account to transfer money directly to it. The money will be available on your card or bank account balance within 30 minutes, but fees will apply. For the withdrawal to be processed correctly, the name on your PayPal account must match the name on your bank account.

In the case of Peru: If you decide to make a withdrawal from PayPal to your bank account, you will be charged 1.5% of the total transfer with a minimum fee of 17 USD.

That is why many of those who use PayPal as a method to receive their compensation transfer the entire amount to their Ligo account. In this case, the commissions will be US$8 for every US$2,000 transferred from PayPal to Ligo, and US$2 for every US$3,000 transferred from Ligo to the bank.

Once the money is credited in Ligo, if you transfer it before 3:00 p.m., you will receive it in your bank the same day. If you do it after 3:00 p.m., it can take up to 2 business days.

In the case of Honduras: When you open a PayPal account in Honduras, the platform will register you in that region. So, if you register a credit/debit card, regardless of whether it works with USD or Lempiras, PayPal will always register it as if it were in Lempiras.

To correct this, you must call PayPal to change the currency of the card to USD. Making this correction is preferable because if the platform automatically converts between both currencies when you pass the money to the card, the exchange rate is not favorable.

What we recommend is always to make the transfer from USD to USD, and in case you need to make the change to Lempiras, do it through the bank.


Close up of a desk with a laptop, calculator, money, and notebook on top of it

Payoneer allows you to get multiple receiving accounts, which work like a bank account in USD, EUR, GBP, and more. You can receive your compensation as easily as if you had a local bank account.

To receive your payment in USD, you will receive an Account Number, Routing Number, and SWIFT Code, which will allow you to receive your payment as if you had a bank account in the USA.

If you don’t have a Payoneer account and want to register, you must associate a bank account that allows you to transfer your funds to it in the future. Ordering a card will be enabled once you start receiving payments on your account.

How do I withdraw my compensation through Payoneer?

Once you receive the payment in your Payoneer account, you can choose to make a withdrawal to either your domestic bank account or any international bank account. You can make the transfer in both USD and local currency, depending on the currency of the receiving account.


Whenever you want to make a Payoneer withdrawal to a bank account, we recommend the destination account to be in USD, because otherwise the exchange rate will not be favorable. If you don’t have one, we recommend leaving the funds in your Payoneer account.

Is there any fee associated with Payoneer’s transfers?

In case you make the transfer from Payoneer to your bank using a USD account, you will not be charged any commission. If you transfer from USD to local currency, Payoneer may charge you a commission of up to 2%.

As it’s an international transfer, depending on your country, the bank may charge a fixed US$50 when you receive the funds from Payoneer.

How long does it take to receive a Payoneer payment?

It takes 3 business days for Payoneer to process the payment, and then if you make the withdrawal to your bank account, it can take up to 2 more business days. We recommend making transfers early in the day so they take less time to arrive.


Man holding a credict card in front of a computer

Wise is a platform that allows you to receive your payment in USD, and connect your account to make the withdrawals you need. If you don’t have a Wise account and want to create one, you must first register.

It will be necessary to deposit a small amount in USD as a requirement to be able to register the account. Wise will provide an Account Number, Routing Number, and SWIFT Code, which will function as a U.S. bank account.

Does Wise have any additional cost?

When making the withdrawal from your Wise account to your bank account, it is necessary to make a currency exchange. Wise will propose the corresponding currency exchange together with a commission. The breakdown can be seen before confirmation, so you know how much you’ll be getting.


Those who are in Mexico recommend making the withdrawal only of the part you need at that moment and keeping the rest in Wise.

How long does it take for the money to be credited with Wise?

Once your provider sends the payment, you will receive a notification from Wise advising of the payment confirmation, and you usually see it reflected in your account that same day.

Wire transfer

Bills, coins, and a credit card emerging from a laptop, with businessman on top of it

To receive dollars directly into your bank account, you will only need an account that is authorized to receive international transfers. The procedure varies from country to country.

How does a Wire transfer work?

If you have a local currency account, you will receive the transfer in the local currency. The bank will notify you of the amount in USD you are receiving, and the exchange rate it’s using.

If you have a USD account, you will receive the transfer in USD. Depending on the bank, they will charge you a commission for receiving international transfers.

What information should I provide to receive USD in my bank account?

You need to provide the following information from your account:

  • Name of the bank
  • Account holder name
  • Account number (interbank)
  • SWIFT code/Bank branch code
  • The ID of the account holder
  • Account type: Savings/Checking
  • Interbank CLABE number (If the account is from Mexico)
  • Bank address

How long does it take for my money to be credited when using a wire transfer?

You have to wait a maximum of 5 business days until you see it in your account. You should keep in mind that holidays in the U.S. and your country may impact the wait time as well.

Is there any fee associated with wire transfers?

It depends on the country, each bank, and the amount that is transferred. For example:

  • In all banks in Peru, when you receive your compensation in USD in your bank account, the bank will likely charge a fixed fee of US$ 25 because it’s an international payment.
  • Generally, banks in Colombia do not charge commissions for this type of transfer.
  • In Honduras, both the intermediary bank (if necessary) and the beneficiary bank have a fee of US$20 each.
  • In Mexico, they charge you approximately 1000 pesos including VAT, depending on the bank.
  • To transfer from USD to BRL (Brazilian currency), there’s a variable fee of 1.26% + a fixed fee of US$ 5.55

Considerations for unique LatAm countries

Credit cards and a lock on top of a keyboard


To exchange from USD to Soles, Peruvians choose to do it using platforms such as TKambio, Rextie, Kambista, or Sucurex, as they usually have a better exchange rate than banks.


You will receive the payment on the platform for international payments within your Home Banking. You must authorize the entry by filling out a form and stating where the payment comes from. It’s a very simple process and it’s a requirement of the Government of Colombia.

Once the deposit is authorized, you must make the withdrawal to your savings account within 90 days. You can decide when to do it, depending on the exchange.

If this will be your first time receiving payments in dollars in the country, you must present your employment contract and a salary certificate. You may also need to ask the bank to exceed the maximum amount, which today is $5,000.

We recommend not overlooking this since international payments are not authorized, the bank could not accept the transfer, and in that case the money would be withheld by the state.


In case it’s the first payment in USD you will receive in your bank account, you must justify it (presenting the signed employment contract) and enable international payments. You must call the bank and make the request, which will take between 2 weeks and 1 month to be enabled. Once it’s enabled, they will send you the SWIFT Code by email.

We recommend not overlooking this since the bank or any of the platforms could reject the transfer because the income in USD is not enabled.


Upon receiving the money in MXN in the Mexican account, it becomes income by law, and therefore, must be declared before the SAT under the corresponding regime. For the “Régimen Simplificado de Confianza,” it’s possible to declare the income through the document called “Declaración Provisional” or “Definitiva de Impuestos Federales.” You can find more details and information about it in this SAT link. Then, you must pay the taxes corresponding to the amount that entered the Mexican account.

Until December 2022, a natural person can register with the RFC. As of January 1, 2023, the eSignature will be required. The SAT posted a video with instructions here. For doubts and tax procedures, you can always make an appointment in an SAT module.


Most Brazilians create a “Sociedade Limitada Unipessoal” company to open a bank account in its name. This approach allows you to take advantage of special conditions and reduce the amount of taxes you have to pay.

Also, the contract you sign with your job provider should be in the name of the company you created instead of yours. 

In conclusion, receiving dollars from the US as a Latin American can be a hassle-free process with the right knowledge and resources. By understanding the various options available, such as wire transfers and online payment platforms, and how they work in each country, individuals can choose the best method that meets their specific needs. With the ultimate guide at hand, Latin Americans can receive their hard-earned dollars with ease.

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