Question 1

What is the cheapest way to send money abroad?

Accepted Answer

It depends on the country, amount and how your family will receive it. Compare total cost across several licensed providers each time.

Question 2

What if the money never arrives?

Accepted Answer

Contact the provider right away with your receipt. If it isn’t resolved, you can complain to the CFPB.

Question 3

What is the cheapest way to send money to another country?

Accepted Answer

It varies. Compare the total cost, including fees and exchange rate, by checking how much your family will receive from several licensed providers.

Question 4

Can I cancel a money transfer?

Accepted Answer

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.

Question 5

What if the wrong amount arrives?

Accepted Answer

Report the error to the provider within 180 days. They must investigate and fix errors.

Question 6

Why does the exchange rate matter?

Accepted Answer

Providers often add a markup to the exchange rate, which can cost more than the fee. Compare the amount received.

Question 7

Is it safe to send money through an app?

Accepted Answer

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.

Question 8

Where do I complain about a money transfer company?

Accepted Answer

First to the company, then to the Consumer Financial Protection Bureau (CFPB) or your state regulator.

Common questions: Sending money home