Frequently Asked Questions
What is the cheapest way to send money abroad with an ITIN?
Low-fee transfer services (such as Wise) usually beat banks and cash agents once you include the exchange-rate markup. Compare the all-in cost — the fee plus the rate — not just the upfront fee.
Can I send money internationally with an ITIN?
Yes. Many transfer services and banks let ITIN holders send money abroad; you typically verify your identity with your ITIN and a government-issued ID.
Is there a new tax on money sent abroad?
Yes — the 2025 tax law added a federal tax on certain remittance transfers, generally those paid in cash or similar form. Transfers funded from a bank account or a U.S. card may be treated differently. Confirm the current rate and exemptions with your provider before sending.
How do I lower the cost of sending money?
Compare the all-in cost across services, send larger amounts less often to spread out flat fees, and watch the exchange rate. Bank wires are often cheapest for large transfers; apps are usually best for small ones.
Quick Answer: Best Services for ITIN Holders
Cheapest overall: Wise (formerly TransferWise) — 0.48% average fee + real exchange rate. Accepts ITIN.
Most accessible: Western Union or MoneyGram — available at thousands of retail locations nationwide. Check locally for ITIN policy.
Best for large transfers: Wise or bank wire — lowest total cost on amounts over $1,000.
Why this matters for ITIN holders
Sending money home via Western Union can cost $15–$45 in fees on a $200 transfer (8–22% of your money). Wise costs $0.96 on the same transfer. That difference compounds: over 10 transfers, you save $140–$400 by choosing Wise instead of Western Union.
Service Comparison
| Service | ITIN Accepted | Typical Fee | Speed | Best For |
|---|---|---|---|---|
| Wise BEST | Yes | 0.48% avg | 1–3 days | Cheapest overall. Best for frequent senders. |
| Western Union | Call to confirm | 8–22% | Minutes to hours | Cash pickup. Fastest. Most expensive. |
| MoneyGram | Call to confirm | 8–18% | Minutes to hours | Cash pickup. Similar to Western Union. |
| Bank wire | Yes (after account opened) | $15–$40 | 1–3 days | Large transfers ($2,000+). Best for speed. |
| PayPal | Yes | 2–3% | 1–3 days | If recipient has PayPal. Moderate fees. |
Wise (Formerly TransferWise) — The Cheapest Option
How it works
Upload your ITIN or passport. Verify via government ID. Link your bank account. Send money online. Money arrives in 1–3 business days at real mid-market exchange rate.
Fees
$200 to Mexico: $0.96 fee (0.48%)
$1,000 to Mexico: $4.80 fee (0.48%)
$5,000 to Mexico: $24 fee (0.48%)
Pros and cons
Pros: Cheapest fees worldwide. Real exchange rates. Fast. 24/7 customer support. App or website.
Cons: Takes 1–3 days (not instant). Your bank must be verified first.
Western Union — Fastest Pickup
How it works
Visit a Western Union location. Bring photo ID and ITIN letter. Fill out form. Pay fees + amount. Recipient gets money at any Western Union location worldwide, usually within minutes to hours.
Fees (sample)
$200 to Mexico: $16–$25
$500 to Mexico: $30–$45
$1,000 to Mexico: $60–$90
ITIN acceptance
Western Union generally accepts ITIN at physical locations, but policies vary by agent. Call your nearest location or ask before going. Have your ITIN letter and government ID ready.
MoneyGram — Similar to Western Union
MoneyGram is nearly identical to Western Union: cash pickup anywhere, high fees (8–18%), accepts payment in-person, takes minutes. Policies on ITIN vary by location — call ahead.
Bank Wire — Best for Large Transfers
If you have a bank account (with Chase, Bank of America, or a credit union), you can wire money directly to a foreign bank account. Cost: $15–$40. Speed: 1–3 business days. Best for $2,000+ transfers where the fixed fee is cheaper than a percentage fee.
Watch out for hidden fees
Banks and Western Union may charge receiving fees at the other end — hidden costs that reduce how much your family actually gets. Always ask: "What's the fee on the receiving end?" Wise and PayPal don't have hidden receiving fees.
How Much Can You Send?
Wise: Up to $1 million per transfer (verified accounts).
Western Union: $3,000 max unverified; $50,000 with verification.
MoneyGram: $10,000 standard limit; higher with verification.
Bank wire: Depends on your bank's daily limit, typically $10,000–$50,000.
Where to Start
- For frequent senders (monthly+): Set up Wise. Verify with ITIN + ID. Save 80–90% on fees over time.
- For one-time or urgent transfers: Go to Western Union or MoneyGram. Fastest option available.
- For large amounts ($2,000+): Use a bank wire from your bank account. Lowest fees on big transfers.
Always compare the total amount your recipient gets after all fees. That's the number that matters.