When choosing the best provider to send remittances from the United States, it is important to take into account several factors.
Some factors to consider when choosing the best remittance provider are:
1. Geographic coverage of the provider: It is important to check that the country you are choosing has coverage to the country/city to which you want to send the money.
2. Delivery method: You have to consider whether you want to send the money to your recipient to claim it at a provider’s service point or if you want to make the transfer directly to your recipient’s account.
3. Reputation of the provider: Keep in mind that the experience of other customers with the provider can give you an idea of the quality of the service that the provider provides. See the rating and comments about delivery time, customer service and the commission charged for shipping.
4. Commission charged: It is very important that you check with different providers the commission they charge and the exchange rate applied, which fluctuates constantly, in order to make the greatest amount of money reach your loved ones. In general terms the commissions fluctuate between 3% – 5% on the value sent. For example, if you send $300 to Mexico, if you ask multiple providers and get the best rate, your loved ones could get MXN 193.24 extra if you choose one provider over another as shown in the following results:
If you are a person who sends money monthly, in a year your family members will receive MXN 2,318.88 extra!
Our recommendation is that you always compare offers from different providers and choose the best offer that will pay off the money you have worked hard for.