# Sending money home safely and for less > Compare the total cost: both the fee and the exchange rate, by looking at how much your family actually receives. US rules require providers to show costs before you pay and give you a receipt. You can usually cancel within 30 minutes if the money hasn’t been picked up, and report errors within 180 days. Use banks, credit unions or licensed transfer companies, only send to people you know, and keep receipts. - URL: https://explained.page/sending-money-home - Language: en - Last checked: 2026-10-29 - Watch the 1-minute animated guide: https://explained.page/watch?start=sending-money-home ## Step by step 1. **Sending money home to family?** Small differences in fees and exchange rates add up over a year. Here’s how to pay less and stay safe. 2. **Compare the total cost.** Look at both the fee and the exchange rate. The best number to compare is how much your family actually receives. 3. **You have the right to see costs up front.** US rules require providers to show the fee, rate and amount received before you pay, and to give you a receipt. 4. **Mistakes can be fixed.** You can usually cancel within 30 minutes if the money hasn’t been picked up, and report errors within 180 days. The provider must investigate. 5. **Use licensed providers.** Banks, credit unions and licensed money transfer companies. Avoid informal couriers who can disappear with your money. 6. **Only send to people you know.** Scammers pose as online friends, sweethearts, employers or officials. Never send money to someone you haven’t met in person. 7. **Keep your receipts.** Keep receipts and confirmation numbers until your family has the money, and longer for your records. ## Checklist - Compare the amount that arrives - See the fee and rate before paying - Cancel within 30 minutes if needed - Report errors within 180 days - Use licensed providers - Only send to people you know ## Compare the real cost Costs come from two places: the transfer fee and the exchange rate. A “no fee” transfer can still cost more if the rate is poor. Compare how much your family will actually receive. ## Your rights For most international transfers from the US, providers must: - Show you the fee, exchange rate, taxes and amount to be received before you pay. - Give you a receipt with that information and when the money will arrive. - Let you cancel, usually within 30 minutes, if the money hasn’t been picked up or deposited. - Investigate errors you report within 180 days. ## Choose licensed providers Use banks, credit unions or licensed money transfer companies. Avoid informal couriers or unlicensed services. ## Avoid scams Only send money to people you know in real life. Scammers pose as online sweethearts, employers, lottery officials or government agents. ## Keep records Save receipts and confirmation numbers until your family has the money. ## Common questions ### What is the cheapest way to send money abroad? It depends on the country, amount and how your family will receive it. Compare total cost across several licensed providers each time. Source page: https://explained.page/sending-money-home/questions/what-is-the-cheapest-way-to-send-money-abroad ### What if the money never arrives? Contact the provider right away with your receipt. If it isn’t resolved, you can complain to the CFPB. Source page: https://explained.page/sending-money-home/questions/what-if-the-money-never-arrives ### What is the cheapest way to send money to another country? It varies. Compare the total cost, including fees and exchange rate, by checking how much your family will receive from several licensed providers. Source page: https://explained.page/sending-money-home/questions/what-is-the-cheapest-way-to-send-money-to-another-country ### Can I cancel a money transfer? For most international transfers from the US, you can cancel within 30 minutes of paying if the money hasn’t been picked up or deposited. Source page: https://explained.page/sending-money-home/questions/can-i-cancel-a-money-transfer ### What if the wrong amount arrives? Report the error to the provider within 180 days. They must investigate and fix errors. Source page: https://explained.page/sending-money-home/questions/what-if-the-wrong-amount-arrives ### Why does the exchange rate matter? Providers often add a markup to the exchange rate, which can cost more than the fee. Compare the amount received. Source page: https://explained.page/sending-money-home/questions/why-does-the-exchange-rate-matter ### Is it safe to send money through an app? It can be, if the company is licensed and you send only to people you know. Watch for scams asking you to send money to strangers. Source page: https://explained.page/sending-money-home/questions/is-it-safe-to-send-money-through-an-app ### Where do I complain about a money transfer company? First to the company, then to the Consumer Financial Protection Bureau (CFPB) or your state regulator. Source page: https://explained.page/sending-money-home/questions/where-do-i-complain-about-a-money-transfer-company ## Official sources - [CFPB: sending money abroad (remittances)](https://www.consumerfinance.gov/) - [FTC consumer advice: money transfer scams](https://consumer.ftc.gov/) - [NCUA: find a credit union](https://www.ncua.gov/) To find your local office, search for: - "CFPB remittance rights" - "credit union international money transfer" --- General information, not legal or professional advice. Rules differ by state. From explained.page (www.explained.page). Life’s stuff, explained simply.