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Uruguayan pesos for someone in Montevideo
The people sending from Singapore and Singapore to Uruguay tend to know exactly what the recipient needs in Uruguayan pesos. A rate that moves between send and settlement breaks that.
Grey fixes the USD to UYU rate when you confirm and pays into Banco República, Santander Uruguay, Itaú Uruguay, Scotiabank Uruguay or any Uruguayan bank. Asian buyers pay Uruguayan beef and soy exporters, and Asian firms use Montevideo's free trade zones.
How sending to Uruguay works
Sign up
Open Grey with your passport or NRIC. You'll get USD, EUR and GBP account details to receive income from abroad. Grey works with licensed partners serving Singapore.
Fund
Hold your foreign earnings in USD on Grey. When a payment to Uruguay is due, convert exactly that amount to UYU and send.
Send
Uruguay takes a bank name and account number, plus the recipient's cédula for some banks. Confirm the UYU figure and send from Singapore.
The cost of a transfer to Montevideo
Grey shows one rate, USD to UYU, and one fee. Both are fixed before you send from Singapore. The amount that reaches Montevideo matches what you were shown.
What you agree is what arrives
The rate you accept in Singapore is the rate applied. Movements in either currency afterwards don't touch what arrives at Banco República, Santander Uruguay, Itaú Uruguay, Scotiabank Uruguay.
When a bank can't quote a currency, it tells you to send dollars. The person in Montevideo then pays their bank's spread and a receiving fee, and you never know what they actually got.
What Singapore-based senders put up with before
Banks in Uruguay charge receiving fees on international wires and sometimes hold them for review. A payment from Singapore that lands as a domestic UYU credit at Banco República, Santander Uruguay, Itaú Uruguay, Scotiabank Uruguay clears faster and arrives whole.
What your recipient sees in Montevideo
The person in Montevideo gets what they'd get from a local transfer: UYU credited to their account at Banco República, Santander Uruguay, Itaú Uruguay, Scotiabank Uruguay. No collection, no code, no receiving fee. Confirmation shows in your app in Singapore at the same time.
BROU and the rest
Every bank in Uruguay is covered, from the big names to regional ones.
Domestic credit
Your recipient sees a normal UYU deposit, not an international wire.
Confirmation in Singapore
The app in Singapore shows settled the moment Montevideo receives it.
Funding from Singapore, in practice
Before the UYU reaches Montevideo, the money has to get onto Grey in Singapore. Singapore-based senders fund Grey from foreign employers or clients paying in USD, EUR or GBP. That balance sends onward in one step. Hold the balance in dollars and convert to UYU exactly when the payment to Montevideo is due.
Income arrives
From an employer, a platform or a client abroad.
Balance waits
In USD, until the Uruguay payment is due.
Transfer goes
One conversion to UYU, into BROU.
If the UYU amount matters more than the USD amount, enter the UYU figure first and let Grey work back to what you'll pay.
Who this route is for
Students
Living costs for students at Universidad de la República and ORT.
Family
Support for relatives in Montevideo, Punta del Este and Salto.
Trade
Payments to Uruguayan exporters and free-zone service providers.
Remote work payments
Paying Uruguayan developers, designers and consultants in pesos.
Seen from Singapore, the corridor looks like this. Asian buyers pay Uruguayan beef and soy exporters, and Asian firms use Montevideo's free trade zones. From Singapore, the money tends to go to specific bills with specific due dates.
Grey on Singapore to Uruguay, in three points
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