Autor: Félix

If you’re planning to send money internationally, it’s important to understand how exchange rates can impact the cost of your transfer. In this post, we’ll explain what exchange rates are and how they work, as well as provide some tips on how to get the best rate when sending money abroad.

What are exchange rates?

Exchange rates are the price of one currency in terms of another. For example, if the exchange rate for US dollars to Euro is 1:0.9, it means that one US dollar is equal to 0.9 Euro. Exchange rates are constantly changing, and can be influenced by a variety of factors including interest rates, economic growth, and political stability.

How do exchange rates affect money transfers?

When you send money internationally, you’ll need to exchange your home currency for the currency of the country you’re sending money to. The exchange rate at the time of your transfer will determine how much of the recipient’s currency you’ll receive for your money. For example, if you’re sending US dollars to a friend in Europe and the exchange rate is 1:0.9, your friend will receive 90 Euro for every 100 US dollars you send.

If the exchange rate is favorable, you’ll get more of the recipient’s currency for your money. However, if the exchange rate is unfavorable, you’ll get less. This is why it’s important to keep an eye on exchange rates when sending money internationally.

How to get the best exchange rate for your money transfer

There are a few steps you can take to get the best exchange rate when sending money abroad:

1. Shop around: Different money transfer companies and banks will offer different exchange rates, so it pays to shop around and compare rates before making a transfer. Check out Félix Pago, it offers really competitive rates combined with low transfer fees.
2. Time your transfer wisely: Exchange rates can fluctuate on a daily basis, so if you’re able to wait for a more favorable rate, it might be worth holding off on your transfer until the rate improves. Take into account that Félix Pago will save you time by sending notifications when the exchange rate is favorable for the country you are sending to.
3. Use a service with low fees: Some money transfer companies charge high fees for their services, which can eat into your transfer amount. Look for a company that charges low fees and offers competitive exchange rates. Félix only charges a $2.99 transfer fee, no matter the amount you send.
4. Consider using a forex broker: Forex brokers specialize in buying and selling foreign currencies and may be able to secure a better exchange rate than you could on your own.

By understanding exchange rates and taking steps to get the best rate for your money transfer, you can maximize the amount of money that your recipient receives.

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The world of international money transfers, or remittances, is constantly evolving. With the rise of digital technologies, it’s easier than ever to send money to loved ones overseas. But what does the future hold for the remittances industry? Here are a few predictions and trends to keep an eye on:

1. Increased use of digital platforms: It’s likely that more and more people will turn to online platforms and mobile apps to send money internationally. These methods are often faster, cheaper, and more convenient than traditional methods such as wire transfers.
2. Growth in emerging markets: Remittance flows to developing countries are expected to continue growing in the coming years. This trend is driven by the increasing number of people working abroad and the growing middle class in many emerging markets.
3. Greater regulatory oversight: As the remittance industry grows, it’s likely that governments and regulatory bodies will take a closer look at these transactions. This could lead to stricter regulations and more scrutiny of money transfer companies.
4. Rise of fintech companies: Fintech firms that specialize in international money transfers are likely to become more popular as they offer innovative, cost-effective solutions. For example, Félix Pago only charges a $2.99 transfer fee per transaction at a very competitive exchange rate, the money is deposited within seconds directly to a bank account or it can also be sent to cash pick-up locations.
5. Integration with other financial services: It’s possible that remittance companies will start offering other financial services such as loans, insurance, and investment products. This would allow them to create a more comprehensive suite of services for their customers.

Overall, the future of remittances looks bright, with continued growth and innovation on the horizon. As the industry evolves, it will be important for companies to stay up-to-date with the latest trends and technologies in order to stay competitive.

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Sending money internationally can be a convenient and efficient way to transfer funds to friends, family, or businesses abroad. However, using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, which is one of the most popular methods for international money transfers, can also come with some downsides.

One of the main disadvantages of using SWIFT is the cost. While the fees charged by SWIFT itself are relatively low, banks and other financial institutions that use the network often add their own fees, which can significantly increase the cost of the transfer. These fees can include charges for currency conversion, wire transfer fees, and other miscellaneous fees.

Another potential drawback of using SWIFT is the time it takes for the transfer to be completed. While SWIFT processes transfers quickly, it can take several days for the funds to be transferred from the sender’s bank to the recipient’s bank. This can be problematic if the transfer is time-sensitive or if the recipient needs access to the funds as soon as possible.

Another issue with using SWIFT is the lack of transparency in the fees charged. It can be difficult for senders to know exactly how much they will be charged for an international transfer, as the fees can vary widely depending on the banks and financial institutions involved. This lack of transparency can make it difficult for senders to budget for their transfers and can lead to unexpected charges.

Finally, using SWIFT also carries some risk. While the network is secure and has safeguards in place to protect against fraud, there have been instances of cyber attacks and other security breaches in the past. Senders should be aware of this risk and take steps to protect themselves, such as using strong passwords and enabling two-factor authentication.

Overall, while SWIFT can be a convenient and efficient way to send money internationally, it is important for senders to be aware of the potential downsides, including the cost, the time it takes for the transfer to be completed, the lack of transparency in fees, and the risk of fraud. By understanding these factors, senders can make informed decisions about the best way to send money internationally.

If you need to transfer money abroad from the US try Félix Pago, the new way to send money across borders using WhatsApp for only $2.99 transfer fee.

Félix is a new service that allows people to send money to Latin America just by using your phone, people can transfer directly to a bank account or to cash pick-up locations. The transaction is done within minutes, exchange rates are really competitive and customer support is available 24/7.

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Sending money overseas can be expensive, with fees and exchange rates adding up quickly. If you’re looking to save money on your international money transfers, here are a few tips to keep in mind:

1. Compare providers: Not all money transfer providers are created equal. It’s important to shop around and compare fees, exchange rates, and other costs to find the best deal. Don’t just go with the first provider you find – take the time to research and compare your options to ensure you’re getting the best value. For example, some providers might have a good exchange rate with really high transfer fees; ideally find a good exchange rate with a low transfer fee.
2. Use online money transfer services: Online money transfer services, such as Félix, can be a more affordable option for sending money overseas. These services often have lower fees and more favorable exchange rates than traditional methods, such as wire transfers or money orders. Félix only charges a $2.99 fee per transaction at very competitive rates.
3. Use a service that offers fee-free transfers: Some money transfer providers offer fee-free transfers for certain amounts or for certain types of transfers. For example, some providers offer free transfers for first-time customers or for transfers over a certain amount. Be sure to check for these promotions and take advantage of them if they are available. Félix offers a $0 transfer fee on your first remittance, occasional promotions and referral rewards.
4. Use a credit card with no foreign transaction fees: If you’re sending money via a credit card, be sure to choose a card with no foreign transaction fees. These fees can add up quickly and significantly increase the cost of your transfer. Services such as Félix don’t charge any additional amounts for credit or debit card payments, this will help you save overtime.
5. Consider the exchange rate: The exchange rate is the rate at which one currency is converted into another. When sending money overseas, it’s important to consider the exchange rate, as it can significantly impact the cost of your transfer. To get the best exchange rate, consider using a provider that offers competitive rates. A great option is to use Félix, they notify you when the exchange rate considerably goes up, this way you’ll always know when it’s a good time to send money abroad.

By following these tips, you can save money on your international money transfers and make the most of your money. Whether you’re sending money to family, paying for goods or services, or conducting business transactions, these tips can help you keep costs down and stretch your budget further.

Try Félix for $0 transfer fee on your first transaction.

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Sending money overseas can be a complex process, with many different options available. It’s important to choose the right method for your needs, taking into consideration factors such as cost, speed, and security. Here are some of the different ways to send money overseas and how to determine which one is right for you:

1. Wire transfers: A wire transfer is a electronic transfer of funds from one bank account to another. Wire transfers are typically fast and secure, but they can be expensive, with fees ranging from $20 to $50 or more. Wire transfers are a good option for larger sums of money or for situations where speed is important.
2. Money orders: A money order is a prepaid financial document that can be used to send money through the mail. Money orders are typically less expensive than wire transfers, but they can be slower, as they need to be mailed to the recipient. Money orders are a good option for smaller amounts of money or for situations where the recipient doesn’t have a bank account.
3. Online money transfer services: Online money transfer services, such as Félix, allow you to send money electronically from your bank account or credit card to a recipient’s account. Online money transfer services are typically fast and affordable, with fees ranging from a few dollars to a percentage of the amount transferred. These services are a good option for small to medium-sized transfers and for situations where the recipient has an account with the same service. Félix only charges a $2.99 transfer fee per transaction, the money arrives within a few seconds for direct bank deposits and a few minutes for cash pickups.
4. Prepaid debit cards: Prepaid debit cards can be loaded with money and used to make purchases or withdraw cash at ATMs. Prepaid debit cards are a convenient option for recipients who don’t have a bank account or who live in areas without access to traditional banking services. However, prepaid debit cards can have fees for loading, withdrawing, and using the card, so it’s important to consider these costs when choosing this option.

No matter which method you choose, it’s important to compare costs and fees, as well as consider the speed and security of the transfer. By taking the time to research and compare your options, you can find the right solution for sending money overseas.

Try Félix for $0 transfer fee on your first transaction.

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Connecting families across borders can be a challenge, especially when it comes to sending and receiving money. Traditional money transfer methods, such as wire transfers and money orders, can be slow and costly, making it difficult for families to stay connected financially. Fortunately, there are now many fast and affordable options for sending money overseas, allowing families to easily and securely send and receive funds from anywhere in the world.

One of the most popular options for sending money overseas is online money transfer services. These services allow you to send money directly from your bank account or credit card to a recipient’s bank account or mobile wallet, often at a fraction of the cost of traditional methods. Many online money transfer services offer fast delivery, with some able to deliver funds in as little as a few hours.

Félix Pago is a fast way to send money abroad for a great price. “Pay only $2.99, send as much money as you want at a very competitive rate”. Direct bank deposits arrive within seconds, while cash pickup locations take a few minutes.

Another option for connecting families across borders is prepaid debit cards. These cards can be loaded with money and used to make purchases or withdraw cash at ATMs. Prepaid debit cards can be a convenient option for families who don’t have a bank account or who live in areas without access to traditional banking services.

No matter which method you choose, it’s important to select a reputable provider that offers strong security measures to protect your financial information. Look for a provider that is regulated by financial authorities and has a good track record of customer satisfaction. Félix is a great option, since it is registered and regulated by The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury that is responsible for implementing and enforcing laws and regulations that combat money laundering, terrorist financing, and other financial crimes.

Sending money overseas doesn’t have to be a hassle. With the many fast and affordable options available today, it’s easier than ever for families to stay connected financially, no matter where they are in the world.

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Are you looking to send money overseas? Whether you’re sending money to family or friends, paying for goods or services, or conducting business transactions, it’s important to ensure that your money is safe and secure. Here are five tips to help you send money overseas safely and securely:

1. Choose a reputable money transfer service: There are many options available for sending money overseas, including banks, online money transfer services, and money transfer companies. It’s important to choose a reputable provider that has a good track record and a secure system for handling your money. Look for a provider that is regulated by financial authorities and has strong security measures in place, such as encryption and fraud protection. Félix is a great option, since it is registered and regulated by The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury that is responsible for implementing and enforcing laws and regulations that combat money laundering, terrorist financing, and other financial crimes.
   
2. Protect your personal information: When sending money overseas, you will likely need to provide personal information, such as your name, address, and bank account details. Be sure to only share this information with trusted sources and ensure that the website or service you are using has secure encryption in place to protect your information from being accessed by third parties. Félix doesn’t require loads of personal information for an account creation, also, identity verification is only required to send amounts above certain limit abroad.
   
3. Use a secure payment method: Credit cards and debit cards are generally secure methods for making payments online, as they offer protection against fraud and unauthorized charges. If you are using a money transfer service, be sure to use a secure payment method, such as a credit card or a secure online payment service, to ensure that your financial information is protected. This is why Félix is a great option to send remittances back home, you can either pay with credit or debit cards through a secure payment link.
   
4. Confirm the recipient’s information: Before sending money overseas, be sure to double-check the recipient’s name, address, and account information to ensure that the money is going to the correct person. This can help prevent mistakes and reduce the risk of fraud.
   
5. Keep records: It’s always a good idea to keep records of your financial transactions, including copies of receipts and confirmation emails. This can help you track your payments and resolve any issues that may arise.

By following these tips, you can help ensure that your money is safe and secure when sending it overseas. Whether you’re sending money to family or conducting business transactions, these tips will help you make the most of your money transfer experience.

Try Félix today with $0 transfer fee on your first transaction.

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En Estados Unidos, como en muchos países mas, es necesario construir un historial crediticio para conseguir préstamos o créditos, alquilar una propiedad o incluso obtener una línea telefónica u otros servicios.

¿Qué es el credit score?

El credit score, en español: puntuación de crédito o puntaje crediticio, es un número entre 300 y 850 que te asigna un buró de crédito para calificar tu desempeño como prestatario o deudor y así definir si eres un candidato de confianza, o de lo contrario, de riesgo, para recibir un crédito o préstamo.

El puntaje se obtiene según tu historial crediticio, que es, como su nombre lo dice, un informe de tus cuentas abiertas, nivel de deuda, historia de pago de tus facturas, antigüedad como deudor y otros factores que resumen cómo es tu cumplimiento como pagador.

Por qué es importante cuidar el credit score

En Estados Unidos, el historial crediticio y el credit score son muy importantes para conseguir préstamos y tasas de interés bajas al comprar un carro o una casa, pedir una tarjeta de crédito o un préstamo personal.

Mientras más alto sea tu credit score, más baja será la tasa de interés. Menores tasas de interés resultan en menor gasto y te dan más posibilidades de crecer económicamente. Incluso puede ser un factor importante para conseguir un trabajo, pues acredita tu nivel de responsabilidad financiera.

Aunque tengas un historial crediticio en México, no te funcionará en Estados Unidos. Por lo cual, es importante comenzar a construir tu historial crediticio al momento de emigrar.

Cuándo debes comenzar a construir tu historial crediticio

La respuesta es: ya. Como si fuera un seguro médico, no esperes a necesitarlo para contratarlo. Recuerda que la antigüedad es un factor clave para aumentar tu credit score. En el siguiente apartado te diremos cómo construir tu historial crediticio desde cero. 

 Tres formas de construir historial crediticio en Estados Unidos

Como inmigrante, puede parecer difícil aplicar para un crédito, por más pequeño que sea, sin historial crediticio. Pero existen plataformas que te ayudarán a dar los primeros pasos de forma rápida, fácil y segura.

1. Solicita un préstamos asegurado: Self

Self es un préstamo de entrega que te permite crear un historial crediticio positivo con las tres principales agencias o burós de crédito (Equifax, Experian y TransUnion), al mismo tiempo que ahorras dinero. No te exige tener un credit score para empezar. 

Te permite automatizar los pagos para no estar pendiente de tu calendario y correr el riesgo de olvidar la fecha. También podrás ver tu credit score desde su plataforma. 

No sólo te ayudará a iniciar tu historial crediticio y generar antigüedad, también a mejorar tu credit score si ha sufrido un descenso. 

Conoce más sobre Self

2. Reporta tus pagos frecuentes: Rental Kharma y Level Credit

Rental Kharma te ayudará a convertir el historial de pago de tu alquiler actual en historial crediticio con las agencias TransUnion y Equifax. Te permitirá incrementar tu credit score rápidamente y generar antigüedad. Además, pueden darse de alta tú y tu pareja. 

Level Credit se conecta con la App de tu banco, para convertir tus recibos de telefonía, agua, gas, electricidad y alquiler en historial crediticio. Con ello puedes aumentar tu credit score en los principales burós de crédito. Podrás sumar hasta dos años de historial crediticio sin necesidad de endeudarte.

3. Solicita una tarjeta de crédito asegurada (Capital One, Discover it)

Las tarjetas de crédito aseguradas requieren de un depósito previo para ofrecerte un préstamo si tienes poco historial crediticio. El límite de crédito suele ser bajo, pero, al usarse responsablemente, te ayudan a construir un historial crediticio que te permitirá posteriormente calificar a un mayor préstamo.

Capital One te ofrece Platinum Secured Credit Card, con la que puedes construir y reparar tu historial crediticio. Al solicitarla, debes depositar $49 USD y conseguirás $200 de crédito. Tras 6 meses de uso responsable, se revisará tu cuenta para devolverte el depósito y aumentar tu línea de crédito.

La tarjeta Discover It® te ofrece préstamos sin necesidad de tener un credit score; también te ayuda a construir y reparar tu historial crediticio. Puede mejorar tus servicios de crédito tras siete meses de uso responsable.

Otros consejos

Intenta diversificar tus métodos de construcción de historial crediticio. Algunas plataformas no reportan a las tres principales agencias o burós de crédito: Equifax, Experian y TransUnion. Por ello, elige dos o tres acciones específicas que te aseguren llegar a todas las agencias importantes.

Una vez que consigas tu tarjeta de crédito, no sólo es importante pagarla de forma puntual, también debes usarla frecuentemente. Conoce bien las condiciones para no superar los límites y conocer si hay un mínimo de uso o de importe que debes gastar.