The best ways to send money abroad

Source: Consumer Reports

Each year, an estimated 6 million households in the U.S. send billions of dollars to families, friends, and others abroad. The good news for senders is that the costs for these remittances have been declining and options have expanded over the years. In addition, new federal consumer-protection regulations that go into effect next February will require money-transfer services to provide prepayment disclosure of exchange rates, the amount of foreign currency to be delivered, and fees, and to resolve errors.

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