If you want to send money to a family member in Venezuela, you can do it on El Dorado in two steps: first you buy digital dollars with your local currency, and then you send them to Venezuela via Pago Móvil. We explain each step below.
Due to the situation in Venezuela, all transfers to the country have 0 fees until further notice. In addition, any purchase of digital dollars with reais, Argentine pesos, Colombian pesos, soles, and other local currencies that you use to send money to Venezuela gets 100% cashback on fees, credited to your El Dorado account within the next 3 business days.
Important: to send money you must live in one of the countries where we operate (Brazil, Colombia, Argentina, Peru, Bolivia, Paraguay, Ecuador, and the Dominican Republic) and have an El Dorado account. This service is not available to residents of Venezuela: since El Dorado does not operate in Venezuela, it is not possible to create an account from there. The person in Venezuela only receives the money via Pago Móvil, with no account needed.
Before you start
To keep the flow from getting stuck, have these ready:
Your El Dorado account verified (KYC complete).
The recipient's full name in Venezuela, exactly as it appears on their ID (cédula).
The recipient's ID number.
The phone number linked to their Pago Móvil.
The bank where they'll receive the Pago Móvil.
Tutorial
Step 1: Buy digital dollars with your local currency
Start the purchase
Tap Deposit and choose to deposit with your local currency (reais, pesos, soles, etc.).
Enter the amount of digital dollars you want to receive (for example, 50 digital dollars).
Under Payment methods, select the method available in your country.
Tap NEXT.
Confirm the purchase
Review the order details.
Check the box "I confirm I will pay from an account in my own name".
Tap CONFIRM.
Pay the merchant
El Dorado connects you with the highest-rated merchant available for your operation.
On the screen you'll see the merchant's details: the exact amount in your local currency and the payment details.
Open your bank or wallet app and make the payment with those details.
You have 30 minutes to complete the payment. If you need to coordinate anything with the merchant, use the chat inside the operation.
Confirm the payment and receive your digital dollars
When you finish the payment, go back to El Dorado and tap I'VE MADE THE PAYMENT.
Attach a screenshot of the payment receipt.
Tap ACCEPT and wait for the merchant to release your digital dollars (usually a matter of minutes).
Once the digital dollars appear in your Main balance, you can move on to Step 2.
Step 2: Send the digital dollars to Venezuela via Pago Móvil
Start the transfer
Tap SEND and select Transfers to other countries.
From the list, select Venezuela.
Enter the amount you want to send.
Under Payment methods, select Pago Móvil.
Tap NEXT.
Create the recipient's payment method
Tap CREATE PAYMENT METHOD.
Under "Whose payment method is this?" select Someone else's.
Fill in the form fields:
Recipient's full name, exactly as it appears on their ID.
Description (for example, "My mom's Pago Móvil").
Phone number linked to the Pago Móvil.
Recipient's ID number.
Bank where they'll receive the money.
Tap CREATE PAYMENT METHOD.
Important: if the name doesn't exactly match the recipient's ID, the payment won't be processed.
Confirm the transfer
Check the transfer details and tap CONFIRM.
Within a few minutes the Pago Móvil reaches the recipient's account.
When your family member confirms they received the money, mark the operation as received in the app.
How long does the transfer take?
The transfer to Venezuela can take between 5 and 30 minutes to be received at the destination bank.
How much do I pay in fees?
While the promotion lasts:
Transfer to Venezuela: 0 fees.
Purchase of digital dollars with your local currency: the standard fee is charged and, if the amount is sent to Venezuela, 100% is returned as cashback to your El Dorado account within the next 3 business days.