How to Send Money to Family Abroad Safely
Compare remittance options, avoid excessive fees, and protect your money when sending it to your home country.
Don't just look at the fee — the exchange rate can cost you more. A $0 fee with a bad exchange rate can be worse than a $5 fee with a good rate. Use the official CFPB comparator at consumerfinance.gov/remittance-transfer or Google 'send money to [country]' to see real-time comparisons.
Remitly (remitly.com): good rates for Mexico/Central America, first transfer free. Wise (wise.com): best market exchange rate, ideal for large amounts. Western Union (westernunion.com): thousands of physical locations, useful if recipient has no bank account. MoneyGram (moneygram.com): similar to Western Union. Zelle/Venmo don't work internationally.
Never use unlicensed services (informal 'cambistas'). Always save the receipt and confirmation number. If something goes wrong, you have the right to cancel within 30 minutes of sending (Federal Remittance Transfer Rule). Report problems to CFPB at consumerfinance.gov or 855-411-2372.
There is no legal limit on how much you can send, but banks are required to report individual transfers of $10,000 or more to the government. Repeatedly sending smaller amounts to avoid this ('structuring') is illegal. If you regularly send large amounts, consult an accountant — there may be tax implications.