How to Send Money Home Safely
Comparison of the best options for sending remittances to Latin America with the best rates.
Never use the first one you find. Compare at wise.com, remitly.com, westernunion.com and xoom.com. Differences can be $5-20 per transfer.
Besides the exchange rate, check the transfer fee. Some apps charge low fees but give a bad exchange rate.
Wise (formerly TransferWise) uses the real exchange rate with no markup. Ideal for large amounts. Requires identity verification.
Remitly offers deliveries in minutes in many countries. Good balance between speed and fee. Has promo for first transfer.
Physical money transfer stores usually charge much more. Only use them if urgent or if recipient has no bank account.
Keep all transfer receipts. They are useful for proving family ties in immigration processes and for tax filing.