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How Can I Transfer Money to My Family Abroad Without Paying High Fees?

How Can I Transfer Money to My Family Abroad Without Paying High Fees?

Before you send money to your family in Mexico, take the time to compare the fees of the different services for transferring money outside the U.S. Historically, individuals often used banks to transfer money to Mexico. Although some banks may not charge you a fee, you will still end up paying for the transfer in the form of a poor exchange rate. In the end, banks are probably the most expensive way to transfer funds, and you should avoid using this option if possible. Another fairly expensive way to send money to family in Mexico is a well-known and widely available service like Western Union or Moneygram. While these services are very convenient, with thousands of locations nationwide, they will charge you anywhere from five to ten percent of the value of your transaction in fees, and there are limits on how much money you can send in one day. Fees also depend on how you make your transaction; it is cheaper to transfer cash than taking money from a bank account or credit card. Newer and less well-known money transfer services like Xoom and WorldRemit tend to be much cheaper than the more traditional services, and their exchange rates are usually good. Online services provider Remitly offers some of the cheapest transfers available. This provider has competitive exchange rates, and transfers with no fees from bank accounts, although they typically take three days. If you use a debit card, there is a fee of about $4.00, but your cash will get to your loved one in Mexico within minutes. You can transfer money to one of the many cash transfer stations in Mexico, or to a relative’s bank account in Mexico. Landerholm Immigration, A.P.C., knows federal immigration law and has the experience to guide you and advocate on your behalf throughout any type of deportation proceeding, no matter what the allegations may be. We are familiar with the wide range of defenses that are available to individuals facing deportation, and how to build the strongest defense that is available to you, based on the evidence relevant to your case. Contact your California deportation defense lawyers today, and discover what we can do for you.

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