Send Money to Peru with Peanut — Coming Soon
Peanut is expanding to Peru. Soon you'll be able to send money and have recipients spend locally via Yape at 2.7 million merchants.
Send Money to Peru with Peanut — Coming Soon
Sending money to Peru today means dealing with slow bank transfers, high fees, and exchange rates that eat into every dollar you send. Whether you are supporting family in Lima, paying a contractor in Cusco, or preparing for a trip to Machu Picchu, the traditional options leave money on the table. Wise, PayPal, and Western Union all charge fees and use exchange rates that work against the sender.
Peanut is building something better. Soon you will be able to send money to Peru and have the recipient spend it instantly through Yape — Peru's dominant mobile payment app with over 14 million users and 2.7 million merchants. No waiting for bank transfers to clear. No asking the recipient to jump through hoops. No local ID required.
Why Peanut Will Be the Best Way to Send Money to Peru
Better Exchange Rate
Peanut converts digital dollars directly to local currency at a competitive market rate, bypassing the markups that traditional services build into their exchange rates. When Peanut launches in Peru, recipients will get more soles per dollar compared to what Wise, PayPal, or Western Union typically deliver. Services like Wise add their own fee on top of a mid-market rate, and Western Union's rates are consistently among the worst in the industry.
No Fees
Peanut charges no fees on deposits, sending, or local spending. That is not a promotional rate — it is the model. Depositing into Peanut will be free whether you fund via bank transfer or digital dollars. Sending to the recipient will be free. Spending via Yape will be free. Compare that to Western Union's flat fees of $5-$15 per transfer plus a marked-up exchange rate, or PayPal's cross-border fees that quietly take 3-4% off the top.
Instant Local Spending
Once Peanut launches in Peru, recipients will not need to wait for a bank transfer to clear. The money will arrive in their Peanut account and they will be able to spend immediately through Yape — scanning QR codes at any of 2.7 million merchants, from bodegas and supermarkets to restaurants and street vendors. That is the real difference: the recipient is not just receiving money, they are receiving spending power they can use right away.
No Local Account Needed
Peru's financial system normally requires a DNI (for citizens) or Carné de Extranjería (for foreigners) to access mobile wallets and bank accounts. Peanut removes that barrier. Recipients will verify with any passport in minutes — no DNI, no Carné de Extranjería, no Peruvian bank account required. This opens up Peru's payment infrastructure to tourists, digital nomads, and anyone without local documentation.
Info
How It Will Work
- 1
Sign up and verify
Create a Peanut account and complete identity verification with your passport. Takes under 2 minutes for most users.
- 2
Deposit funds
Fund your Peanut account via bank transfer (SEPA from Europe, ACH from the US) or send digital dollars from any major exchange.
- 3
Send to your recipient
Your recipient creates a Peanut account (or receives funds to an existing one). Money arrives instantly — Peanut-to-Peanut transfers take milliseconds.
- 4
Recipient spends via Yape
The recipient pays at any of 2.7 million Yape merchants by scanning a QR code. No waiting, no bank transfer delays.
What the Recipient Will Be Able to Do
Spend via Yape
Yape is Peru's leading mobile payment app, originally launched by BCP (Peru's largest bank) and now used by over 14 million people. Yape QR codes are everywhere — bodegas, supermarkets, restaurants, cafes, street vendors, and online merchants. Peru also mandates QR interoperability, meaning Yape works with Plin and BIM, reducing fragmentation across the payment ecosystem.
When Peanut launches, the recipient will scan a Yape QR code with the Peanut app, see the amount in soles and the digital dollar equivalent, and confirm. The merchant receives soles instantly. The merchant does not know Peanut is involved — it looks like any other Yape payment.
Bank Withdrawal
Recipients will also be able to withdraw funds to a Peruvian bank account, converting their digital dollar balance to soles at the point of withdrawal.
Other Options
Peru's QR interoperability framework means that beyond Yape, Peanut may also support payments through connected systems like Plin and BIM as the integration develops.
How Much Will It Cost?
Peanut's model is simple: no fees on any operation. Deposits are free, sending is free, and local spending will be free. The only cost is the exchange rate itself — and Peanut's rate is designed to beat what traditional services offer.
Here is how the current alternatives stack up for a typical $500 transfer to Peru:
| Service | Fee | Exchange Rate | Recipient Gets |
|---|---|---|---|
| Peanut (planned) | $0 | Market rate | More soles |
| Wise | ~$4-7 | Mid-market with markup | Less |
| PayPal | ~$5 + 3-4% | Below mid-market | Significantly less |
| Western Union | $5-15 | Worst rate | Least |
When Peanut launches, the combination of no fees and a competitive exchange rate will mean more soles in the recipient's pocket on every transfer.
Sending from Specific Countries
Send Money from the United States to Peru
The US-to-Peru corridor is one of the largest remittance flows in the region. When Peanut launches, US-based senders will be able to deposit via ACH (free, 1-3 business days) or send digital dollars from exchanges like Coinbase (arrives in minutes). The recipient in Peru then spends via Yape instantly. Compare that to Western Union's same-day service that charges $10+ per transfer plus a terrible exchange rate.
Send Money from Spain to Peru
Spain hosts a significant Peruvian diaspora, making this an important remittance corridor. European senders will be able to deposit via SEPA (free, 90% arrive in under 20 minutes) and send to Peru. The recipient spends via Yape the same day — no multi-day bank transfer wait, no additional fees stacked on top of each other.
