How to Send and Receive Remittances in Bolivia Using Airtm: A Step-by-Step Guide

Step 1: Access Your Airtm Account

If you’re already an Airtm user, accessing your account is simple—just log in using your usual credentials. However, if you’re new to Airtm, follow these steps to set up your account and start receiving remittances:

1. Register on Airtm: Visit Airtm’s website and create an account by providing basic information such as your name, email, and phone number.
2. Verify Your Identity: To ensure the security of your transactions, you’ll need to complete a quick identity verification process. This step is essential for both your safety and the smooth handling of your funds.
3. Complete Your Profile: Fill in the necessary details on your profile, which will help personalize your Airtm experience and streamline future transactions.

Pro Tip: Be sure to use an active email address and a valid phone number to stay updated on transaction confirmations and ensure secure communication with Airtm. 

Step 2: Set Up Your Virtual USA Account

Airtm offers a Virtual USA Account that allows you to receive funds directly from international sources, such as family or friends living in the United States. Here’s how to activate it:

1. Log into Your Airtm Account.
2. Click on “US Virtual Account” from the main menu and follow the prompts.
3. Read and Accept the Terms provided by the account provider, Bridge Ventures Inc.
4. Verify Your Identity once again to ensure you’re all set to receive international transfers.

After completing these steps, your Virtual USA Account will be ready to receive remittances.

Step 3: Receive Transfers from Individuals

Now that your Virtual USA Account is active, receiving transfers from individuals abroad is straightforward:

1. Share Your Banking Details: Provide the sender with your U.S. bank account number and routing number, which are displayed in your Airtm account.
2. Give Instructions to the Sender: Ask the sender to make an ACH transfer using these details. ACH transfers are common in the U.S., often with minimal fees.
3. Monitor the Transfer: Once the transfer is made, you’ll see the funds reflected in your Airtm balance within 1 to 3 business days.

With the funds safely in your Airtm account, you now have the freedom to:

• Convert the USDC to Local Currency: You can easily exchange the dollars you receive for Bolivianos using Airtm’s P2P network, often at better exchange rates than traditional methods.
• Send Payments: Use your Airtm balance to pay for goods or services, or send money to others within the platform.
• Withdraw Funds: You can withdraw your converted funds to your local bank account or other payment methods.

Pro Tip: Before making the transfer, double-check all the bank details with the sender to avoid delays or mistakes.

Step 4: Receiving Funds via Wire Transfer

For larger sums or more urgent transactions, wire transfers are a great alternative. Here’s how you can use them effectively:

1. Provide Accurate Information: Share the complete details of your Virtual USA Account, including:
   • The account holder’s name (exactly as it appears in your Airtm profile).
   • The ABA routing number and account number.
   • The name and address of the receiving bank (these details are available in your Airtm account).
2. Instruct the Sender: Make sure the sender knows to initiate a domestic wire transfer using the details provided. Wire transfers may come with fees, so ensure the sender is aware of any potential costs.
3. Track the Transfer: Wire transfers are typically processed faster than ACH transfers—often the same day or the next business day.
4. Verify Fund Arrival: Check your Airtm balance to confirm the funds have been received. Airtm will notify you once the money is available for use.

As with ACH transfers, once the funds are in your Airtm account, you can manage them as needed—whether that’s withdrawing them in local currency, sending payments, or holding onto the digital dollars for future use.

Step 5: Withdraw Your Funds from Airtm

Once you’ve received your remittance in USDC, the next step is to withdraw it into your local currency. Here’s how:

1. Go to Your Airtm Account and select the “Withdraw” option.
2. Choose Bolivianos as your preferred currency.
3. Select the method you want to use to withdraw the funds (e.g., bank transfer or other local payment methods).
4. Enter the amount you wish to withdraw and confirm the exchange rate provided by Airtm’s P2P network.
5. Complete the transaction and wait for the funds to be deposited into your chosen account, which usually happens within a few hours or on the same day.

Airtm: The Smarter Way to Manage Remittances in Bolivia

Managing remittances can be stressful, especially with fluctuating exchange rates and slow transfer times. But with Airtm’s Virtual USA Account, you have access to a faster, more efficient way to receive and convert international funds. Whether through ACH transfers or wire transfers, Airtm makes it easy to get the most out of every remittance, offering better rates and a more streamlined process than traditional services.

So, why wait? Take control of your remittances today with Airtm, and experience financial freedom with just a few clicks.