Sending money to Venezuela at The Parallel Rate

Venezuela has a very active parallel market for the exchange of foreign currency. It is well known that ilegal or black foreign exchange markets are an important component of economies of many developing countries.Goverment restrictions on free trading of foreign currencies create a dual (black and official) foreign exchange rate system. The resulting differentation in official and black market exchange rates creates incentives for diverting export revenues from the official to the black market.

The black market exchange rate is often at least 50% or higher the rate of 4.30Bs. per each US Dollar (Official Rate). Black market rates change every day the highest we had so far, was in Jun 2010, when we got 8.9 Bs. per each US Dollar (Black Market Rate). One of the major reasons for this big discrepancy between the official rate and the black market is the severe restrictions that the Venezuelan government has implemented through some regulations for the foreign exchange since 2003 (Exchange Control).

As a matter of fact, if you decide to travel to Venezuela with US Dollars in cash and you want to exchange your money in a local bank or in exchange agency, you will get the Official Rate. Moreover, when you sweep your credit cards in Venezuelan points of sales, you will be getting less Bs. for your US Dollars, you will be changed at the Official Rate, also if you want to make a wire transfer from a foreign bank to a Venezuelan Bank ..Guess What?.. you will get the Official Rate.

Integrity Pay allow you sending money to Venezuela at the parallel rate from any country throug wire transfers to Usa or Western Union (Send direct to bank) getting Bolívares and those Bolivares will be deposited in a Venezuelan bank account of your preference .

Contact our representatives.
Agree with our representatives the amount of US Dollars you want to send to Venezuela
Our representative will let you know our black market current exchange rate.
You will need to give us the following information:
- Name of the bank in Venezuela, where you want to receive your money.
- Venezuelan Bank Account number (20 digits).
- Beneficiary Account Name in the Venezuelan bank
We have bank accounts in USA and Panama(Offshore)
- You can deposit (cash only) in our bank accounts
- Make a wire transfer
- Send us money to our USA account through Western Union (Send direct to bank).
Our representative will provide you with that information.
Once we have confirmed your deposit we will notify you and allow us up to three Venezuelan working days to receieve your deposit in the Venezuelan bank account that you have provided us.