MALE VO: If you have family or friends in another country, you may want to send them money.
It’s called “wiring” money and there are companies that offer this service in exchange for a fee.
But because there’s a fee – and an exchange rate – it’s important to ask questions BEFORE you send money.
One: Ask how much money your family or friend will receive, and how much pays the fee. This information will help you choose betweeen money wiring companies.
Two: Ask whether your family or friend will receive the money in U.S. dollars or in local currency.
If you decide to wire money, keep your receipt. Follow up with your friend or family member to confirm they got the right amount of money.
Report any problems to the money wiring business. If they can’t help, tell the FTC at 1 877 FTC HELP.
So when it comes to picking a company to help you send money to a friend or family in another country, ask some questions. Check out FTC.gov to learn more.
A tip from the Federal Trade Commission, the nation’s consumer protection agency.
The Federal Trade Commission (FTC) is the nation’s consumer protection agency. The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace.
