1/16/2023
The United States of America is the country with the most immigrants in the world, more than 50 million according to the latest official data, well above the rest of the countries.
A good part of these immigrants are in the North American country for work, and they usually have family in their countries of origin that, to a certain extent, depend on the help they can send from the USA.
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This is why remittances from the U.S. to foreign countries involve a large movement of capital, with Latin American countries being the main recipients of these funds, since most immigrants are of Hispanic origin.
Mexico, Dominican Republic, Guatemala, Honduras, Colombia, Peru and Ecuador are the main countries that receive remittances from the USA, but it is possible to send money to any other nation.
Which online platforms allow sending money from the United States?
Currently there are many online services that make it easy to send money to any country in the world and in the currency of your choice. Here are a few that you can use with confidence and with very competitive fees:
Remitly
One of the companies with the lowest costs. Allows you to send money by debit card, credit card and bank transfer. The maximum amount you can send is 10,000 USD.
Ria
You can send up to $3,000, paying by cash, debit card, credit card or bank transfer.
MoneyGram
Send money worldwide using a bank card or wire transfer. You can send up to $3,000.
What are cash remittances from the U.S. to other countries for?
The vast majority of cash remittances sent abroad from the U.S. are from immigrants sending money to relatives in their home countries. Millions of families depend on this income from relatives living in the United States.
They can also be used for the payment of services between companies or professionals, although for these cases it is more common to use traditional bank transfers, even if they are online.
What methods can you use to send money abroad?
To send money to the recipient in another country, you can choose from several methods:
Wire transfer
From any financial institution, you have the option of making online transfers to any country and in different currencies. However, the fees to do so are usually high, although it is true that there are quite competitive banks in this aspect.
Money transfer services
These are private entities that are mainly dedicated to this task, either through their physical stores or through the Internet. They usually have a wide range of possibilities for sending money to other countries and in other currencies.
Fees in these cases are also usually below those of the banks, although it is advisable to compare well and make sure of the expenses corresponding to the shipment that we want to make, consulting concretely the amount that we want to send and the country of destination.
Recipients can receive the money in cash at financial institutions or at collaborating businesses. They can also receive the transfer in their own bank account.
Among the most used online services are the following:
Bill payment
Another way to send money abroad is to pay directly a bill or invoice that the person residing in another country has pending payment.
Credit card balance
Transferring cash to a credit card in another country would also be another way of sending money abroad, although in this case the fees may be high. We always recommend being well informed before making any transfer of capital from the United States, to avoid paying a lot.
What is the cheapest way to send money to other countries?
Private online cash transfer services are usually the most competitive options to save on fees. Above we recommend several platforms that you may find interesting.
In addition, bank transfers from certain financial institutions can also be competitive. It is important to study as many options as possible in order to find the one that is most profitable for you, as long as it offers a quality service.
Español: Cómo enviar dinero desde Estados Unidos a otros países