Do you have children about to enter school in the United States? Understanding the U.S. education system is essential for adapting to a new culture and preparing for the differences compared with your country of origin.

Broadly speaking, the U.S. education system is divided into three stages: Elementary School, Middle School, and High School. Each plays a specific role in students’ academic journey. This system covers ages 5 through 18 and forms the central framework of schooling in the country.

In this article, we explain each of these stages and detail their purpose to demystify how students progress through the system and its educational levels in the United States.

Levels of the U.S. education system: Everything you need to know

In the United States, it is common for children to begin schooling around age 5. After kindergarten, it is divided into 12 grade levels.

Below, we show how the U.S. education system is structured.

Early childhood education

Early childhood education or preschool is not mandatory in the United States. However, it is common for children under age 5 to attend pre-K (preschool) or kindergarten.

These centers focus on young children’s cognitive development through play and early literacy activities. For this reason, there is no grading system. Kindergarten is offered through private and public options or via the Head Start social assistance program for low-income families.

Elementary school

After that, children will enter primary education or Elementary school starting around age 6, depending on the school district.

This level typically covers 1st through 5th grade and is characterized by the gradual introduction of more advanced knowledge, with the aim of building cognitive and social development through learning skills such as mathematics, science, and language, among others.

• Characteristics: students generally have the same teacher for almost all subjects, except for those requiring specialized knowledge, such as physical education.

• Grading system: it can vary by district, but it is common for students to be assessed using a letter scale—A, B, C, D, and F—or, alternatively, a numeric scale from 1 to 4.

• Approximate Ages: between 6 and 11.

Middle school (junior high school)

After finishing primary education, students continue with Middle school, which typically covers 6th through 8th grade. It is a transitional stage between primary and secondary education.

• Characteristics: students have a different teacher and classroom for each subject, which promotes independence and socialization.

• Grading system: the formal A through F system is typically being used.

• Approximate Ages: between 11 and 14.

High school

The next level is secondary school or High school, typically covering grades 9 through 12. It culminates in the High school diploma, a basic requirement to continue with higher education or enter the job market.

• Characteristics: in addition to required subjects such as English, math, and science, students can complement their education with electives and extracurricular activities.

• Grading system: both the A–F letter scale and the GPA (Grade Point Average) are generally used; GPA serves as an indicator of academic performance and is key for college admission.

• Approximate Ages: between 14 and 18.

Postsecondary education

Postsecondary or higher education in the United States includes different types of programs as well as private and public schools. Although it is not strictly mandatory, it provides more opportunities for good jobs and higher earnings.

These are the types of higher-education institutions in the U.S.

Public or private universities

• They offer a curriculum lasting approximately 4 years.

• Upon completion and passing of the program, graduates receive a Bachelor’s degree.

• The admission process depends on prior academic performance, reflected in the GPA.

• There are public universities funded by the government and private universities as well.

Community colleges

• These are public colleges offering educational programs that last 2 years.

• Upon completing this program, students earn an Associate’s degree, equivalent to a technical program.

• They are more accessible than a university, and admission rates are also higher.

If you need to send money to another country, explore some options and tips.

Technical or vocational institutions

• They focus on acquiring knowledge related to practical trades, such as nursing, graphic design, and programming.

• They also offer certificates to recognize completed studies.

The U.S. education system can be somewhat confusing compared with other countries, such as some in Latin America. Below is a comparison table to clarify general equivalencies, keeping in mind that there are variations in each country.

How does the school year work in the United States? Key aspects

The U.S. education system is characterized by flexibility to adapt to students’ abilities and interests in order to foster their full potential.

For this reason, it is common for students to be placed into specific classes according to their learning level, which may be more or less challenging.

• Placement depends on several factors, such as:

• How well the student understands English or their test scores—especially for foreign students

• Recommendations from parents/guardians

• Standardized test scores and prior academic performance

• Willingness to complete challenging assignments

• The student’s interest or motivation

• Teacher or counselor recommendation

• Examples of student work demonstrating their level of understanding and skills

Another relevant aspect to consider is the school calendar and schedule in the United States. These can vary by state and school district, but in general the school year begins in late August or early September and ends in late May or early June.

How to manage your finances in the United States with Común

As you can see, the U.S. education system is intentionally designed to guide students from basic education through higher studies and, afterward, into working life.

Each level has a clear function, which makes it easier for families, students, and educators to plan and provide support in order to make more informed decisions along the school path.

Without a doubt, your children’s education is one of the most important investments, because it is a way to secure their future.

Común is the ideal financial platform to help you manage tuition payments and handle school expenses for higher education.

Común is a financial platform with a mobile app that makes it easy to open accounts in the U.S. with a qualified official ID from your country of origin, send low-cost remittances, and provide bilingual Spanish and English language support for the immigrant community.

Learn about all the benefits of opening an account with Común for you and your family.

As an immigrant, Común allows you to open an account with a qualified official ID from your country, with no hidden fees and bilingual Spanish and English language support.

Frequently asked questions

If you still have questions, consult our Q&A section.

How do you enroll your child in school?

Go to the school district where you live to find out which school corresponds to your address. Complete the required documents and the enrollment application.

Requirements may vary by state or school district, so it is important to verify directly with your local school.

What is the difference between a public and a private school in the United States?

Public schools are funded by government tax revenues, while private schools are funded by tuition.

What do Freshman/Sophomore/Junior/Senior mean?

These are the terms used in U.S. high schools and universities to indicate year level

• Freshman: 1st year

• Sophomore: 2nd year

• Junior: 3rd year

• Senior: 4th year

What is needed to enter school in the United States?

• Minimum age depending on the level

• Birth certificate

• Up-to-date vaccination record

• Proof of residence in the district

Father's Day in the United States and Latin America

When is Father's Day? In the United States, Father's Day in 2026 falls on June 21, the third Sunday of June. However, if your dad lives in Mexico, Guatemala, Honduras, or other countries across Latin America, his day might land on a completely different date. This guide provides an overview of Father's Day dates across the United States and Latin America so you can plan ahead and stay connected with family members abroad.

One holiday, many dates

Father's Day is an important occasion for many families across the continent. Yet, not every country celebrates Father's Day on the same fixed dates. In the US and most of Latin America, it falls on the third Sunday of June. However, Honduras celebrates it on March 19, Guatemala and El Salvador on June 17, and the Dominican Republic on the last Sunday of July.

If your family is spread across countries, it's easy to lose track. Here's a full breakdown so you have everything in one place.

When is Father's Day in each Latin American country and the US? (2026)

You can save this table and share it with your family group chat!

When's Father's Day in the United States?

In the US, Father's Day is celebrated on the third Sunday of June. In 2026, that's June 21.

The tradition dates back to the early 1900s, when Sonora Smart Dodd advocated to recognize fathers after being raised by a single dad. Over time, it became a national celebration of fatherhood and family.

Today, Father's Day in the US is a major occasion. Families gather for backyard barbecues, attend church services, catch a game together, or simply spend time at home. Restaurants fill up for Sunday brunch. Gift cards, tools, grilling accessories, and heartfelt cards dominate store shelves the week before.

For many immigrant families in the US, Father's Day can also carry some emotional weight. Many fathers are in the U.S. working thousands of miles away from their own fathers back home, building a future for their children. On an occasion like this, distance can feel heavy and a phone call becomes more than a call. For many families sending money back home becomes more than a transaction.

Father's Day in Mexico

Mexico celebrates on the same date as the US, the third Sunday of June; in 2026, the holiday falls on June 21. While it is not an official public holiday, it is widely celebrated.

In Mexico, Father's Day traditions are rooted in family. Mothers and children often wake up early to prepare a special breakfast, from chilaquiles, tamales to whatever papá loves the most. Schools hold events in the days leading up to it, where children make gifts and perform songs. The whole family tends to gather for a long lunch or dinner, and it's common for the celebration to include music, toasts, and storytelling that lasts well into the evening.

If your father is in Mexico and you're in the US, June 21 in 2026 is your shared moment. A video call during the family meal means you're at the table even when you can't be.

Father's Day in Central America

Father's Day dates vary throughout Central America.

Guatemala and El Salvador both celebrate on June 17. This is rare as it is a fixed date not tied to a Sunday. Families tend to celebrate in two ways: a smaller, symbolic recognition on June 17 itself (calls, gifts, meals), and a larger gathering on the nearest weekend if needed.

Nicaragua celebrates on June 23, also a fixed date. This year, it falls just two days after the US date, but those two days are important if you're planning to make a call or even a money transfer.

Honduras is an exception in the region, as Father's Day there is celebrated on March 19, the feast day of Saint Joseph. This Catholic tradition, also observed in Spain, Bolivia, and parts of Europe, associates fatherhood with the figure of Joseph as a protector and provider. If your father is in Honduras, it's worth keeping in mind that his day comes in the spring, not the summer.

Father's Day in South America

Colombia, Venezuela, Peru, Chile, and Argentina all celebrate Father's Day on the third Sunday of June. In 2026 that would be on June 21. In Colombia, it is treated as a major family occasion, often centered around a long Sunday lunch with live music. Venezuela and Peru follow similar traditions of home gatherings and special meals. Children participate by preparing performances, arts and crafts.

Ecuador is a slight variation: the celebration occurs on the second Sunday of June, which in 2026 falls on June 14, one week earlier than the US.

Father's Day in the Caribbean

The Dominican Republic is an exception in the region, celebrating on the last Sunday of July, which falls on July 26 in 2026. If your dad is from the Dominican Republic, it's important to remember that his special day is a full month after most of Latin America.

Gift ideas when your father is in another country

Distance doesn't change Father's Day, but it does change how you can show up. Not being there in person can feel difficult and sometimes you can struggle to find ways to show that you care. That can also feel like pressure, but what you do carries more intention, and that intention is what matters.

• Call him, but plan it. Don't just dial and hope he's free. Coordinate with family members so that when you call, he is available. Some people even plan to call during the special celebration, as people are gathered, the meal is on the table and your face on the screen is part of the festivities
• Send a voice message or video. A fun video showing him some parts of your life in the U.S. — your family, your city. A voice message with a special message that he can replay. These might feel like small efforts but when it comes from the heart and distance is involved they matter the most
• A treat for the party. Sometimes paying for the whole meal on Father's Day or the live music or even the decorations can show that even if you're far you can still get involved. To make sure you can contribute you can always send a remittance to your family members who are organizing the celebration
• Send money with meaning. While sending a remittance on Father's Day might feel familiar if you're supporting your family, the reality is that the context changes it. Choosing to send money on that specific day signals attention and care. It shows that you're present while you give your father the freedom to spend on what he needs or wants the most
• Make it specific. A new pair of shoes, the gadget he's been talking about for weeks or tickets to something he enjoys. To make sure he can experience it, you can transfer the money directly to him or a family member if he loves a surprise

How to send money to your dad for Father's Day?

There are many service providers for remittances and international transfers, the choice is between how it will reach him and what it will cost you. The right option depends on your priorities whether that's speed, cost fees, and how your dad actually receives money where he lives.

Digital remittance services

Companies like Remitly, MoneyGram, Wise and Común are becoming a more common way for people in the U.S. to send money abroad.

They often offer:

• Fast delivery options. Many transfers generally arrive the same day or within minutes, especially with debit card payments
• Flexible deliveries. You can send it to a bank account, mobile wallet, or cash pickup depending on the country
• Easy to use services. Sending a remittance from your phone without having to go to a location. Some apps are even built specifically for sending money internationally. For example, Común's app is available in Spanish

What to be mindful of?

• Costs. The costs can either be presented with a fixed fee and/or a markup within the exchange rate. It is important to understand the costs of the selected services
• Rates change constantly. Exchange rates are often changing and it's important to be considerate of those changes
• Some might not offer cash pickup options. Remitly, MoneyGram and Común offer cash options that can change depending on the country where the money is sent. For example, Común offers cash options at Elektra and Oxxo in Mexico

Traditional bank transfers

This means sending a wire from your U.S. bank directly to your dad's bank account.

These transfers often offer:

• Familiar banking infrastructure. Banks are regulated and familiar to many people
• Higher transfer limits. They tend to offer higher limits for transfers than other digital services

What to be mindful of?

• Costs. Fees for sending and receiving, as well as exchange rates can be less competitive than other service providers
• Slower timing. Some transfers may take several business days
• Limited flexibility. No cash pickup or alternative delivery methods

Cash pickup transfers

You can send money in person or online for cash pickup through services like Western Union or MoneyGram.

These may be useful for recipients who:

• Prefer cash. This is useful if your dad prefers cash or doesn't have a bank account
• Fast availability. Often available within minutes
• Wide accessibility. Some companies have large networks with locations available in many countries

What to be mindful of?

• Costs. Fees and exchange rates tend to be less favorable
• Less transparent pricing. Harder to compare total cost upfront
• Location considerations. Cash pickups rely on the locations being open and having sufficient cash on site

What to prioritize for a Father's Day remittance?

• If timing is what matters the most. It could be worth considering a service with same-day delivery or cash pickup
• If cost matters most. It is advisable to compare options, especially fixed fees and exchange rate markup within exchange rates
• If convenience matters most. It might be more important to choose the option that requires less effort for your dad on his special day

Frequently Asked Questions

When is Father's Day in the United States in 2026?

June 21, 2026.

When is Father's Day in Mexico in 2026?

June 21, 2026.

When is Father's Day in Colombia in 2026?

June 21, 2026, same as the U.S.

When is Father's Day in Guatemala and El Salvador?

Both countries celebrate on June 17, a fixed date each year. In 2026, that's a Wednesday.

When is Father's Day in Honduras?

Honduras celebrates on March 19 each year.

Why does Father's Day fall on different dates in different countries?

Two main traditions shaped the holiday globally. The U.S. model, established in the early 20th century, set the third Sunday of June. Catholic countries in Europe and Latin America often tied the celebration to March 19, the day of Saint Joseph, considered the earthly father of Jesus and protector of fathers and workers. Countries adopted one tradition or the other, or in some cases chose their own fixed date entirely.

When is Father's Day in the Dominican Republic?

The last Sunday of July. In 2026, that's July 26.

When is Father's Day in Ecuador?

The second Sunday of June. In 2026, that falls on June 14.

Can I send money to my dad for Father's Day?

Yes. There are many financial institutions and remittance service providers in the US that offer many different options such as wires to cash pickups.

Will my remittance arrive to my father the same day?

It depends on how you send it, when you send it, and how your dad receives it. Same-day delivery is possible from the U.S., but it's not automatic. Check with your chosen service provider to understand the times and if there are fees for faster delivery.

Being there, even from far away

No matter where your dad is, Father's Day is about showing up in a way that reaches him. The date might change from country to country, and the way you celebrate might look different from what you grew up with, but the intention carries across borders. When you know when the day is, you can plan ahead, and support the celebration from wherever you are. If sending money is part of how you show up, Común offers different delivery options for remittances to México, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panamá, Colombia, Ecuador, Perú, Chile, Brasil, Argentina, Bolivia, Uruguay, Paraguay, and Dominican Republic. Don't let distance get in the way of building long lasting memories with your loved ones.

Remittance service provided by Service UniTeller, Inc. Service UniTeller, Inc. is licensed in all states that require one. Común Inc. may earn revenue from foreign currency conversion.

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What is cashback and how does it work? A 2026 Guide

Cashback is a rewards system that gives you back a percentage of the money you spend on eligible purchases. In simple terms, when you buy something using certain credit cards, debit cards, apps, or rewards programs, you may get a percentage of your money back on purchases, though it is usually credited to your account rather than handed over as physical cash.

If you recently moved to the United States or are learning how the financial system works, you may have heard the term 'cashback' while shopping at places like Walmart, Target, gas stations, supermarkets, or online stores.

For many people, cashback can become a practical tool to manage everyday expenses such as groceries, transportation, gas, and household purchases. While the amounts may seem small at first, they can add up over time when used consistently and responsibly.

What is cashback?

Cashback is a type of financial reward that returns a percentage of your purchase after you spend money with a participating payment method or rewards platform.

For example:

• If you spend $100 at the supermarket using a card that offers 2% cashback, you may receive $2 back
• If a cashback app offers 5% cashback at a participating gas station and you spend $60 on fuel, you may receive $3 back

Unlike traditional discounts, cashback usually happens after the purchase is completed. The Consumer Financial Protection Bureau (CFPB) explains that cashback rewards are commonly offered through credit cards and loyalty programs as an incentive for spending.

How does cashback work?

Cashback programs generally follow a simple process:

• You make an eligible cashback purchase using the participating card, app, or rewards account
• The transaction is recorded by the provider
• A percentage of that purchase is returned to you as cashback

The reward may appear as:

• Statement credit
• Bank deposit
• Gift card
• Rewards balance
• Redeemable points
• Store credit

Some cashback rewards appear within a few days, while others may take an entire billing cycle or longer to process. There are often minimum redemption thresholds before you can claim your cashback. Certain programs may include expiration dates. It is also important to understand that not every purchase qualifies for cashback.

Cashback vs. traditional discounts

While cashback and traditional discounts can both help consumers save money, they work in different ways. A traditional discount lowers the price immediately at checkout, while cashback returns part of the money after the purchase has already been completed.

Types of cashback in 2026

Not all cashback programs work the same way. Before signing up for a cashback program, it is important to review details such as annual fees, interest rates, minimum redemption, expiration policies, and spending categories.

Fixed-rate cashback

This type gives the same cashback percentage on all purchases. Example: 1.5% cashback on everything you buy. This structure is simple because you do not need to track categories or rotating offers.

Category-based cashback

Some cards or apps offer higher cashback percentages in specific categories such as supermarkets, restaurants, gas stations, or streaming subscriptions. For example: 3% on groceries, 2% on gas, 1% on all other purchases.

Rotating cashback categories

Some providers change cashback categories every few months. One quarter may focus on gas stations and grocery stores; another may include online shopping and travel purchases. These programs sometimes require manual activation each quarter.

Welcome bonuses

Certain credit cards offer introductory cashback bonuses if you spend a minimum amount during the first months after opening the account. For example: spend $500 in the first 3 months and receive $150 cashback bonus. The Federal Trade Commission recommends reviewing terms carefully before applying for financial products with promotional offers.

Where can you get cashback in the United States?

Credit cards:

Many credit cards in the U.S. include cashback rewards. Some examples include products from Discover, Chase, Capital One, and American Express. Some cards focus on categories like dining or travel, while others offer flat-rate cashback.

Debit cards:

Some financial institutions offer cashback debit cards, although rewards are usually smaller than those offered by credit cards. This may appeal to people who prefer avoiding debt or credit card interest.

Cashback apps:

Several mobile apps partner with retailers and offer cashback rewards for purchases. Examples include Rakuten, Ibotta, Upside, and Honey. These apps may provide cashback for grocery shopping, online purchases, gas stations, and restaurants.

Store loyalty programs:

Retailers sometimes offer cashback or store rewards through membership programs. For example, supermarkets, pharmacies, and warehouse stores may return store credit or savings points after purchases.

Cashback vs. points vs. miles: Which is better?

Although they are often grouped together under the category of 'rewards,' each one works differently and can be useful depending on a person's spending habits, financial goals, and lifestyle.

Cashback programs generally return a percentage of the money spent on eligible purchases. Points systems usually assign a numerical value to purchases that can later be redeemed for products, gift cards, discounts, or services. Travel miles are typically associated with airlines, hotels, or travel-focused credit cards.

For many people, especially those focused on getting some value on their everyday expenses such as groceries, transportation, gas, or household purchases, cashback can feel more useful as the reward is directly connected to money rather than conversion systems or travel programs.

3 practical tips for using cashback responsibly

1. Use cashback for purchases you already planned

Focus on recurring expenses such as groceries, gas, transportation, and utility bills. This helps you avoid overspending simply to earn rewards.

2. Don't buy things you don't need

A cashback offer does not automatically make a purchase worthwhile. For example, spending $200 to earn $4 cashback may not help your finances if the purchase was unnecessary.

3. Track your cashback earnings

Many apps and financial platforms allow you to monitor spending categories, cashback totals, and monthly rewards. Tracking your rewards can help you understand your spending patterns and maintain financial goals.

Does Común offer cashback?

No. Común does not currently offer cashback programs.

However, Común provides tools and resources that offer guidance for Latin American immigrants navigating the U.S. financial system.

While cashback might be useful for some people, it is important to pay attention to commissions, as savings when commissions are included might not be as strong as initially perceived. When comparing financial tools in the United States, cashback is only one factor to consider. Fees, commissions, account accessibility, and transparency can also affect your financial experience over time.

Común's cost for opening a debit account is $0, same as the $0 minimum balance and $0 monthly commission for the debit account.

FAQ

What is cashback and how does it work?

Cashback is a rewards system that returns a percentage of your purchases after you spend money using eligible cards, apps, or loyalty programs.

How is cashback calculated?

Cashback is usually calculated as a percentage of the purchase amount. For example, if you spend $100 and your cashback rate is 2%, you receive $2 back.

Where can I get cashback in the United States?

Cashback is commonly available through credit cards, debit cards, shopping apps, and retailer loyalty programs.

What is the difference between cashback and points?

Cashback returns money directly, while points are part of rewards systems that may only be redeemed for specific products, gift cards, or services.

Does Común offer cashback?

No. Común currently does not offer cashback.

Is cashback taxable?

In many cases, cashback earned through purchases is generally treated as a rebate rather than taxable income. However, tax treatment may vary depending on how rewards are earned. The IRS recommends consulting a tax professional for specific situations.

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A debit card is a bank card that lets you make purchases and withdraw money using funds available in your bank account. A debit card looks a lot like a credit card, but it works differently. When you use a debit card, the money is deducted directly from your bank account. That means you can only use the card if you have enough available funds — otherwise, the transaction won't go through.

Who Issues Debit Cards for Consumers?

Debit cards are issued by banks and are linked to individual checking accounts. You can get a debit card by opening a bank account at any bank or credit union that offers this service.

Many banking institutions also offer other digital services, like mobile and online banking, that let you manage your account over the internet or through a mobile device. In general, all banks offer services designed for people with different needs and income levels, giving nearly every adult access to banking.

Even though debit cards are easy to use, you should be careful with them. If you lose your card or it's stolen, report it to your bank immediately to prevent fraud or misuse. You should also regularly check your statements for fraudulent transactions or errors. With a bit of care, debit cards can be a useful tool for managing your money and making purchases online and in person.

How Can You Use Your Debit Card to Make Purchases or Withdraw Money From an ATM?

There are many ways to use a debit card to make purchases or withdraw money from an ATM.

To make a purchase, you can insert your card into the point-of-sale (POS) terminal and select "debit" as your payment method. Then enter your PIN and select the purchase amount.

To withdraw money from an ATM, insert your card into the machine's slot and select "checking/savings." Then enter your PIN and select the amount you want to withdraw.

You can also use your debit card to make payments online or by phone. To make an online payment, enter your card details on the merchant's website. To make a payment by phone, call the merchant's customer service number and provide your card details when asked.

What Protection Do Visa Debit Cards Have Against Unauthorized Charges?

If you have a Visa card, you're protected by Visa's Zero Liability policy. This policy guarantees you won't be held responsible for any unauthorized charges made with your card. That means if someone steals your card or uses it without your permission, you won't have to pay for those charges.

Visa's Zero Liability policy applies to all Visa cards, including debit and credit cards. It also applies to all transactions, including online and in-person transactions. This policy was put in place to help protect consumers against fraud and identity theft.

If you're a victim of fraud or identity theft, be sure to report it right away. You can call Visa's toll-free number 24/7 to report any incident. Visa will work with you to resolve the issue and help protect your money and identity.

What Are Virtual Debit Cards?

A virtual card is a card that isn't physical — it exists only in the digital world. Virtual cards are often used for online purchases, since they offer more security than using a regular debit card.

One of the benefits of virtual cards is that they can be used to limit how much money is spent on a purchase. For example, if you're buying something online and want to make sure you don't go over budget, you can use a virtual card instead of your regular credit or debit card. This can help you stay within budget and avoid racking up debt. Likewise, if your information is stolen during a transaction, the thief won't be able to access your other cards. This can help prevent fraud and keep your personal information safe.

If you're interested in getting a virtual card, there are a few things you should know. First, not all banks offer virtual cards, so you may need to open a new account at a bank that offers this service. Second, not all merchants accept virtual cards, so there may be some places where you can't use them. Finally, virtual cards sometimes come with associated fees, so be sure to read the terms and conditions before using one.

The Benefits of Común

When you get a checking account with Común, you'll get two debit cards: a physical one and a virtual one.

The physical card lets you make purchases at any business, and offers security thanks to its contactless capability and chip. This prevents your card details from being cloned or used for fraud.

The virtual card lets you make online purchases with more confidence, since contactless technology and chip protection aren't available on the internet — but if fraud does happen, the card can be canceled and replaced immediately. You can contact our support team anytime to report these cases.

Común debit cards work at more than 55,000 ATMs across the United States for deposits and withdrawals, and are protected by Visa's Zero Liability policy. That means any unauthorized charge won't be deducted from your checking account balance.

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Introduction: What Is the Foreign Exchange Market?

The foreign exchange (FX) market is the backbone of global trade, since it allows one currency to be exchanged for another. Whether you're traveling abroad, buying international products, or investing overseas, FX plays a crucial role in our financial lives. This article aims to demystify two key FX concepts: exchange rates and currency margins, explaining them in simple terms for new banking customers and anyone unfamiliar with these topics. Understanding these concepts is crucial for customers of Community Federal Savings Bank and other financial institutions that offer banking services.

What Is the Exchange Rate?

The exchange rate is the value of one currency in terms of another. For example, if 1 U.S. Dollar (USD) is worth 0.85 Euros (EUR), the exchange rate is 1 USD = 0.85 EUR. Exchange rates fluctuate based on supply and demand in the foreign exchange market. Several factors influence these rates, including:

• Supply and Demand: If a currency is in high demand, its value increases. Conversely, if there's more supply than demand, the currency's value decreases.
• Central Banks and Government Policies: Central banks, like the Federal Reserve in the U.S. or the European Central Bank, can influence exchange rates through interest rates and monetary policy. For example, higher interest rates offer better returns on investments in that currency, increasing demand and value.

How Do Exchange Rates Affect Us?

Exchange rates impact several aspects of our lives:

• International Travel: When you travel abroad, the amount of foreign currency you get for your money depends on the exchange rate. For Común customers, understanding exchange rates⁴ helps keep your money secure while traveling. Examples of fluctuating exchange rates include: 1 USD = 0.85 EUR or 1 USD = 109.75 Japanese Yen (JPY).
• Cost of Imported Products: Products priced in foreign currencies become more or less expensive depending on the exchange rate.
• International Business and Investment: Businesses dealing with international customers and suppliers, or investing abroad, are affected by exchange rate fluctuations, which influence their costs and revenue.

What Is the Currency Margin (FX Spread)?

The currency margin is the difference between the buy price and the sell price of a currency pair. The buy price is what buyers are willing to pay, while the sell price is what sellers are asking. The spread is essentially the cost of trading currencies.

For example, if the buy price for EUR/USD is 0.84 and the sell price is 0.86, the currency margin is 0.02. This margin is crucial because it represents the transaction cost of exchanging currencies, which is a key consideration for banks and financial institutions.

Why Does the Currency Margin Exist?

Several factors contribute to the existence of the currency margin:

• Market Liquidity: Greater liquidity (more buyers and sellers) generally results in a narrower margin. Lower liquidity leads to a wider margin.
• Currency Brokers and Financial Institutions: These intermediaries set the buy and sell prices, factoring in their profit margins.
• Transaction Costs: The costs of executing trades and maintaining currency inventories are also built into the margin.

How Does the Currency Margin Affect Transactions?

The currency margin impacts the cost of exchanging money. A smaller margin means lower costs, while a larger margin increases the cost. Here are some examples:

• Small Margin: If the buy-sell margin is small (for example, 0.01), the transaction cost is low, making it cheaper to exchange currency.
• Large Margin: A larger margin (for example, 0.05) means higher transaction costs.

To minimize the cost of exchanging currency, consider:

• Comparing Rates: Look for the best exchange rates and lowest margins, especially when using Community Federal Savings Bank banking services.
• Timing: Exchange money when market liquidity is high, typically during business hours in major financial centers.

Real-World Examples:

Understanding currency margins can help you make better financial decisions:

• Traveling Abroad: When exchanging money for a trip, the currency margin affects how much foreign currency you receive. Común¹ account holders can keep their money secure by understanding these margins.
• Online Shopping: Buying products on international websites involves currency conversion, where the margin influences the total cost.

To check the current exchange rate and currency margin, use online currency converters and financial news websites. Financial inclusion matters, and platforms like Común offer tools and support to help Latino immigrants and other users manage their money effectively.

Conclusion: Stay Informed

In summary, the exchange rate determines the value of one currency against another, while the currency margin is the cost of trading currencies. Understanding these concepts is essential for making informed financial decisions, whether you're a new banking customer or new to the world of FX. Stay informed and use this knowledge to navigate the complex world of currency exchange more effectively.

Additional Resources

• FDIC-Insured Banks: Make sure your funds are safe by choosing FDIC-insured banks like Común.
• Support and Security: Común offers customer support and security features to protect your personal information and funds.
• Remittances: For Latino families and immigrants, understanding exchange rates can help send money abroad efficiently.

Understanding exchange rates and currency margins can have a significant impact on your financial transactions. By staying informed, you can make better decisions and optimize your currency exchanges, improving your overall financial health.

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Surely during your stay in the United States you have heard about the well-known Green Card or permanent resident card.

It is a document issued by the U.S. government that allows immigrants to reside and work legally and permanently.

For immigrants, obtaining it is of utmost importance, as it also opens the door to several benefits, such as legal protection, the right to purchase property, and the ability to apply for lawful permanent residence for family members.

Thousands of migrants in the United States often ask the big question: “How can I live legally in the United States?” We know how important it is for you to achieve better living conditions to support your family and loved ones. Therefore, below you’ll find a guide with practical steps, eligibility categories, and the documents needed to obtain a Green Card and change your life in the United States.

Eligibility categories for the Green Card

There are several paths to obtain a green card. To know which one to take, you need to be clear about both your immigration status and the eligibility category that applies to your profile.

Family-based Green Card

The first category refers to permanent residence granted through immediate family members who already have legal status in the United States.

It is divided as follows:

• Immediate relatives of U.S. citizens: spouses and unmarried children under 21.

You must wait for approval of Form I-130 and then apply for residence; there is no annual cap.

• Family preference category: unmarried children over 21 of citizens; spouses and children of permanent residents; married children of citizens; and siblings of citizens.

You must file Form I-485. For this, you must wait until your priority date becomes current on the Visa Bulletin. Otherwise, you can only file the I-130.

Employment-based Green Card

• EB-1 visa: individuals with extraordinary ability, such as distinguished professors or researchers.

• EB-2 visa: accomplished professionals with an advanced degree and exceptional ability.

• EB-3 visa: skilled workers, professionals, and “other workers.”

• EB-4 visa: special categories such as religious workers, U.S. government employees, members of the Armed Forces, among others.

• EB-5 visa: for investors who allocate substantial funds to businesses that create at least 10 jobs in the country.

Process to obtain a work-based visa

• The employer files the PERM Labor Certification, demonstrating that there are no qualified or available U.S. workers for the position. To do this, they must submit Form ETA-9089 to the Department of Labor.

• Once employment authorization is obtained, the employer must file Form I-140 with USCIS, along with the approved PERM certification.

• The employee must apply for adjustment of status via Form I-485 (if in the United States) or do consular processing at a U.S. embassy.

• For the EB-2 visa, applicants may choose the National Interest Waiver (NIW), which eliminates the need for PERM.

Remember that to work legally in the United States you must obtain an SSN. Before obtaining residence, migrants often use an ITIN to file their tax returns.

Green Card for special immigrants

• VAWA visa: victims of abuse by a U.S. citizen or permanent resident.

• SIJ visa: minors who have been abused or abandoned by their parents.

• In both cases, applicants must file Form I-360.

Green Card through refugee or asylee status

• People admitted through an asylum claim or refugee status, as well as their immediate family members.

• In both cases, applicants must be physically present in the United States for at least 1 year and then file Form I-485.

Other categories

In addition, there are other less common categories:

• Diversity Visa (Green Card Lottery): an annual lottery of up to 50,000 slots. Selectees receive a consular interview, though it does not guarantee a visa.

• Cuban Adjustment Act: a special adjustment program for Cuban nationals.

Each category has different eligibility requirements and processing times, so it is very important to consult U.S. government guidance and, if needed, seek the support of an immigration attorney.

Steps to apply for a Green Card

Once you know, in broad strokes, the requirements to obtain a Green Card, you need to be clear about the application process you must follow.

Determine eligibility

Before starting any process, review the categories above and determine which best fits your profile—family, employment, special immigrants, etc.

We recommend reviewing the Visa Bulletin to verify the documents required for your category and ensure you have them.

File the initial petition

Once you are clear on the category that applies to you, you must file the form indicated for that category, along with the required supporting documents, for example:

• Valid passport (required for any category).

• Evidence of the family relationship, such as birth or marriage certificates.

• Job offer letter.

Adjustment of status or consular processing

After your corresponding form is approved, you must apply for adjustment of status or consular processing and pay the fee required by the Department of State.

• If you are in the United States, file Form I-485 along with evidence of eligibility.

• If you are in another country, you must submit the DS-260 at a U.S. consulate. This is the immigrant visa application for permanent residence.

Interview and biometrics

In the next step, you must attend an adjustment-of-status appointment, at which USCIS will take your fingerprints, biometrics, photo, and signature.

You must also attend an interview to answer questions related to your eligibility category.

Receiving the Green Card

Finally, your Green Card will be mailed to your address. Make sure to check that all details are correct and keep it in a safe place.

After some time, you may apply for citizenship if you meet the necessary requirements.

Maintaining and renewing the Green Card

Once you have your green card in hand, you must keep track of renewal periods to avoid issues after the expiration date.

Renewal and replacement

• A regular Green Card is valid for 10 years.

• To replace your Green Card, you must file Form I-90 at least 6 months before the expiration date.

• The same form is also used in case of damage or loss.

Removal of conditions

• Applies to conditional residents with a 2-year Green Card, generally based on a recent marriage to a U.S. citizen.

• File Form I-751 for marriage-based cases or the corresponding form for your category.

• You must submit the documentation required by USCIS, as well as attend an additional interview.

Important rules

• If you change your address, be sure to report it to USCIS promptly.

• If for any reason you need to spend more than 6 consecutive months outside the United States, be sure to obtain a reentry permit (Advance Parole or Reentry Permit). Otherwise, you could risk losing your residence.

• Refrain from actions considered abandonment of residence, such as surrendering the card or voting in foreign countries.

• Keep an eye on your Green Card’s validity and renew it when appropriate.

Organize your financial life in the U.S. with Común

As you can see, the process of obtaining a Green Card is long and exhausting. Therefore, it is essential to understand the different categories, steps, forms, and the key points to maintain your permanent residence.

Another relevant point for improving your stay in the United States is having partners who understand your needs.

We present Común, the financial platform that addresses day-to-day needs through an intuitive mobile app, where you can easily open an account with qualifying official identification from your country of origin.

It also offers remittance services to several countries, helping your family receive more for less.

Why choose Común?

• Open a secure account with clear and competitive fees.

• Receive deposits and send remittances home.

• Get a debit card for daily expenses and financial control.

• Ability to save and plan your finances as you settle in the United States.

Open your account with Común today and get financial services tailored to you.

Frequently Asked Questions (FAQ)

If you still have questions, consult our FAQs.

Can I travel outside the U.S. while my application is in process?

You need to obtain Advance Parole (Form I-131), since leaving the country could cancel your application.

When can I apply for citizenship after obtaining a Green Card?

You must be a permanent resident for at least 5 years, or 3 if based on marriage, and have lived continuously in the United States and fulfilled tax obligations.

How long does the Green Card process take?

It depends on the category and whether you apply inside or outside the country. In general, the wait time is approximately 1 to 3 years.

How much does it cost to apply for a Green Card?

The cost varies by category. Check USCIS’s fee calculator to get a clear figure.

What is the difference between the I-485 and the DS-260?

The I-485 is the adjustment-of-status application to permanent resident filed within the United States, whereas the DS-260 is the immigrant visa application filed from another country.

What happens if your Green Card is denied?

You can appeal the decision via Form I-290B or refile the application.

Living and working abroad? Remittances might be for you if you want to send money to family members, friends, or other beneficiaries in another country.

Remittance is money transfers from one person to another, usually across borders. They are most commonly sent by immigrants who send a portion of their income to support their families back home. However, remittances can also be personal gifts, financial support, or payments between relatives or friends who maintain social or economic ties despite the distance.

Do you know the difference between a remittance and a bank transfer payment?

Remittances can be money transfers, however what is commonly understood as remittances are voluntary person-to-person transfers, usually between family members. For example: a worker in Texas sending money to their parents in Mexico, a nurse in Florida sending money to her siblings in Honduras, or a student helping their grandparents in Guatemala. Bank transfers on the other hand, can include payments between companies, international trade payments, foreign direct investment, loans between corporations, or government aid.

In summary, remittances are personal, cross-border, person-to-person transfers.

How can you send remittances from the United States to Latin American countries?

Today there are more options than ever to send money to Latin America from the U.S. The process is usually very simple:

#1 Choose a remittance provider

Your remittance service provider can be a financial mobile application, a traditional bank like Wells Fargo, a specialized money transfer service like Western Union or MoneyGram, or a fintech company like Remitly.

#2 Select the destination country and delivery method

Each company offers different delivery options depending on their services and local partnerships. Delivery options vary in cost depending on the provider and the urgency.

#3 Enter the amount and confirm the exchange rate and fee

The amount received by the recipient varies by the exchange rate used by the provider and the service fee they charge. Some companies might charge no fees, but their business model relies on the exchange rate markup.

#4 Pay for the remittance

With so many options available, remittances can be paid with various methods including:

• Bank account (ACH).
• Debit card.
• Credit card (often the most expensive).
• Cash
  
  

#5 The recipient receives the money

It can take minutes to days for the recipient to receive the funds, depending on how the funds are received or by the type of remittance provider used to send the remittance. 

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How much does it cost to send remittances from the United States?

The total cost depends on two main factors:

1. Service fees

This is the fee the provider charges to send the remittance. It can range from $0 to over $20 USD per transaction depending on the provider and payment method used.

• Bank account: typically the cheapest.
• Debit card: mid-range cost.
• Credit card: most expensive (fees + potential interest)
  
  

2. Exchange rate costs

Some companies have different  exchange rates, making the remittance more expensive even if the service fee is advertised as “$0.” Sometimes the fee for the service provider is included within the added margins in exchange rates. 

3. Other possible additional costs

These may include cash pickup fees, limits for high transaction amounts, or fees charged by participating banks. It is important to understand the fees in remittance costs to be able to manage your funds in a way that makes sense to you.  

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What should you consider before sending money abroad from the United States?

To choose the best option, you can always consider:

1. Total costs (fee + exchange rate). Sometimes comparing only the fixed fee is not enough to fully understand the cost of a remittance or transfer.
   
   
2. Delivery time. If the recipient needs the money the same day, it could be best to choose an quick service.
   
   
3. Delivery method. Cash pickup can be useful if the recipient doesn’t have a bank account. Other options include bank deposit or digital wallets, which can be practical and low-cost.
   
   
4. Convenience for the sender. If you send money frequently, it is recommended to evaluate apps that allow saved recipients, automatic payments, recurring transfers, or exchange-rate alerts or options that adjust and serve your needs.
   
   
5. Limits and requirements. Not all money transfer service providers are the same. Some services require government-issued identification to provide their services, while others require a U.S. bank account and, in some cases, proof of identity (some providers accept foreign passports as proof of identity to send remittances if the sender can prove residency in the United States) for large transfers.
   
   

What Companies Offer Remittance Services from the United States?

In the U.S., there are several types of companies offering remittance services:

Traditional money transfer companies, for example: Western Union, MoneyGram, and Ria Money Transfer. These companies have physical branches in many locations. Fees could be higher than alternatives and the exchange rates can be less competitive.

Traditional banks: However, not all banks provide this service, but institutions like Bank of America and Wells Fargo allow international transfers through online banking or in-branch. However, it is important to consider that the fees can reach up to $60 USD depending on the bank, and transfers can take up to 5 business days. For this option, a bank account with the institution is needed or cash transfers are done directly at a branch.

Digital first companies (apps): Examples include Remitly, Wise, WorldRemit, and Xoom (from PayPal). These companies can offer more competitive pricing and faster transfers. These options are presented as an alternative to traditional banks or Western Union. Comun is one of these platforms, combining a fintech experience with extra benefits like a digital account and an easy-to-use app available in Spanish.

Convenience stores: For example, Walmart offers in-person remittance services. For example companies like Comun can also offer services like cash funding in retails or ATM locations. With a Comun open account you can deposit cash at one of over 90,000 retail locations (Walmart, 7-Eleven, Walgreens, and more)  and then complete the remittances conveniently from your app. 

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What do I need to send remittances from the United States to Latin American countries?

Requirements vary by provider and they depend on:

-How the remittance is sent, and
-How the remittance is received.

For example, if sending money for cash pickup, the most important information is the recipient’s full legal name as it appears on their official ID, since they’ll potentially need to present it to pick up the money.

For a bank-to-bank international transfer, the essential information includes the bank details for the receiving account.

Traditional banks and companies like Western Union generally require:

• Recipient’s full name.
• Recipient’s account number.
• SWIFT code.
• Receiving country.
• Amount and currency
  
  

How can you send remittances using Comun? 

Sending a remittance with Comun is very simple. You have two options at the palm of your hand, you can send it through the app or via WhatsApp. Here’s a detailed step by step on how to do it:

Through the Comun App

1. Open your Comun app.
2. Select “Transfer.”
3. Select “International.”
4. Under “How do you want to send your money?”, choose “Through the app.”
5. You’ll see the current exchange rate.
6. Select an existing recipient or add a new one.

*To add a recipient, you’ll need: full name as on their ID, phone number, and—if sending a bank transfer—their bank details.

7. Confirm the recipient’s information.
8. Choose the transfer method (bank deposit or cash pickup; options vary by country).
9. Enter the sender’s ID type and ID number.
10. Confirm transfer details.
11. Enter the amount (the calculator shows the amount the recipient will receive in local currency and the transfer fee).
12. Confirm the transaction.
    And that’s it—your remittance is sent!

Through Comun’s WhatsApp

1. Start from our website (by selecting “Send Money”), which will show the WhatsApp option — or.
2. From the app, select “Transfer.”
3. Select “International.”
4. Choose “Via WhatsApp.”
5. Follow the conversation flow.
6. Choose “Send money.”
7. Confirm the country.
8. Enter the amount.
9. You’ll receive a confirmation message showing the amount to be received in local currency.
10. Choose the delivery method.
11. Provide the recipient’s details: full name, ID type, ID number, and bank account (if applicable).
12. Confirm your remittance.
13. Verify your identity through the verification steps.
    And you’re done—your remittance is sent!

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Best Practices for Sending Remittances

To make sure your get the best out of your hard-earned money, it is recommended to keep some good practices in mind:

1. Verify the exchange-rate margin

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Ideally, choose a provider that uses an exchange rate as close as possible to the real market rate as this impacts the actual amount your recipient will receive. Understanding transaction costs can help make better financial decisions for your needs. 

2. Look for transparent, fixed fees
Comparing fees can be confusing because many services use variable pricing based on multiple factors. Ideally it is recommended to choose a provider that offers fixed fees and transparent pricing.

3. Consider timing and holidays in both countries

Keep in mind that transfers may be delayed during weekends or holidays in either country, so processing times may be slower than on regular business days.

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Unrecognized charge on my debit card: What to do in the United States?

If you notice an unrecognized debit card charge, one of the first steps is to lock your card, verify whether the transaction was actually unauthorized, and contact your financial service provider immediately. If you are a Común debit card holder, you can report suspicious activity directly through the app, email, or WhatsApp support.

Seeing an unrecognized charge on your debit card can be stressful, especially if you rely on your account for rent, groceries, transportation, or sending money to family. Unauthorized transactions can happen for many reasons, and debit card users in the United States have certain protections under the Electronic Fund Transfer Act (EFTA) and Regulation E.

It is also important to understand that not every unfamiliar transaction is considered fraud. Some charges may come from subscriptions, merchants using different billing names, or purchases made by someone who had permission to use the card.

What is an 'unrecognized' vs 'unauthorized' charge?

An unrecognized debit card transaction

is a transaction you do not immediately recognize. This does not necessarily mean fraud occurred. Examples: a merchant billing under a different legal name, a forgotten subscription renewal, a delayed hotel or gas station authorization, a trial membership converting into a paid subscription, or a family member using the card.

An unauthorized charge

generally means someone used your debit card or account information without your permission. Examples: purchases made after your card was lost or stolen, online purchases you did not authorize, potentially fraudulent recurring charges, or transactions occurring after your credentials were compromised.

It is important to understand that if you voluntarily gave your card, PIN, password, or account access to a family member, partner, or friend, those transactions may not qualify as unauthorized under Regulation E.

How can I identify a suspicious charge?

Checklist for an unrecognized debit card charge:

• Review the merchant name carefully — many businesses process payments under a parent company or billing processor that looks unfamiliar
• Check the transaction date — some charges appear several days after the original purchase
• Look for recurring subscriptions — streaming platforms, delivery apps, gyms, and trial memberships commonly renew automatically
• Verify the location — some online merchants process payments from another state or country even when the transaction was legitimate
• Ask family members — a spouse, child, roommate, or trusted person could have used the card
• Watch for small 'test' charges — fraudsters sometimes attempt small transactions before attempting larger purchases

What to do right away if you notice an unauthorized charge?

1. Lock your card immediately

If your financial service provider offers a card lock feature, you can temporarily freeze your card to help prevent additional transactions while you review the activity further.

2. Report the transaction to your financial service provider

Reporting a potentially unauthorized transaction promptly helps preserve certain protections available under applicable law. If you use Común, you can contact support through:

• In-app chat
• Email: ayuda@comun.app
• WhatsApp: +1 646 600 5660

When reporting the transaction, try to include: the transaction amount, merchant name, transaction date, and why you believe the charge is unauthorized.

3. Document everything

Take screenshots and save records of suspicious transactions, text alerts or emails, merchant communications, and subscription cancellation confirmations.

4. Change passwords and security settings

If you suspect your account information was compromised: change your password, update your email password, enable Face ID or Touch ID, review connected devices, remove suspicious app access, and if your PIN may have been exposed, change it immediately.

5. File a police report if appropriate

If your wallet was stolen, your identity may have been compromised, or the situation involves significant financial loss, contacting law enforcement and filing a police report may help support your case.

Your rights as a US Debit Cardholder

Debit card protections in the United States are primarily governed by the Electronic Fund Transfer Act (EFTA) and Regulation E.

What is the 'Visa Zero Liability' policy?

Visa's Zero Liability policy generally provides protection for eligible unauthorized transactions made with covered Visa debit cards, subject to applicable terms, conditions, and limitations.

Key aspects:

• Protection scope: may apply to certain unauthorized transactions involving lost, stolen, or fraudulently used cards
• No enrollment necessary: the policy applies automatically to eligible Visa cards without requiring special sign-up
• Prompt reporting: to qualify, you must promptly report potentially unauthorized transactions to your financial institution
• Limitations and exclusions: certain transactions, including commercial card or anonymous prepaid card transactions, may not be covered

How does the Común dispute process work?

Once you report an unrecognized or potentially unauthorized debit card transaction to Común, the investigation process may include several stages. Typical timelines may include:

• Initial review beginning within approximately 2 business days
• Potential provisional credit within applicable regulatory timeframes for qualifying disputes
• Extended investigations in certain situations
• Visa dispute or arbitration processes that may take up to approximately 90 days in some cases

What is not covered?

Some situations may not qualify as unauthorized transactions under Regulation E or Visa Zero Liability protections:

• Charges made by family or friends who had access to your card or account
• Transactions you approved but later disputed due to dissatisfaction
• Wallet-only customers without a Común debit card
• ComúnPay P2P transactions funded through external debit cards
• Cases involving negligence or false claims

How can I help prevent unauthorized charges?

Use card lock and unlock features:

Locking your card when not in use may help reduce unauthorized transactions.

Enable real-time transaction alerts:

Instant transaction notifications through the app can help you identify suspicious activity more quickly.

Use Face ID or Touch ID:

Biometric authentication features can help reduce unauthorized account access.

Protect your PIN:

Avoid sharing your PIN, even with people you trust. Never store it in unsecured notes apps or write it directly on your card.

Watch for phishing scams:

Fraudsters may impersonate banks through text messages, fake login pages, phone calls, or social media messages. Banks and service providers will not ask for your password or verification code through text message.

FAQ

What is an unrecognized charge on my debit card?

An unrecognized charge is a transaction you do not immediately recognize on your account. It does not always mean fraud occurred.

How long do I have to report an unrecognized charge?

Under Regulation E in the United States, reporting suspicious transactions promptly is important. Certain consumer protections may decrease after 2 business days and again after 60 days from the date the statement was sent.

Will I get my money back if I report an unauthorized charge?

It depends on the investigation results and whether the transaction qualifies as unauthorized. In some qualifying cases, consumers may receive reimbursement or provisional credit.

What happens if I let a family member use my card?

If you voluntarily shared your card, PIN, password, or account access, the resulting transactions may not qualify as unauthorized under Regulation E or applicable Visa Zero Liability policies.

How long does Común take to resolve a dispute?

Investigations may begin within approximately 2 business days. Some cases may be resolved more quickly, while more complex disputes or Visa dispute processes may take longer, including up to approximately 90 days in certain situations.

Final thoughts

An unrecognized charge on your debit card does not always mean fraud, but it is important to review unfamiliar transactions promptly. In the United States, Regulation E or the Visa Zero Liability protections can help limit your liability for qualifying unauthorized transactions, particularly when reported promptly.

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Obtaining a Green Card or permanent residence is one of the most important steps a migrant can take in the United States, as it allows them to reside and work legally and access the same benefits as a U.S. citizen.

If you already have your permanent resident card in hand, congratulations! The next step is to stay alert to renewal, since it is crucial for maintaining your legal status and keeping the benefits it provides.

If you have had your green card for several years, it is even more important to be clear on the requirements, costs, and procedures needed to renew it and thus avoid any setbacks that could cause problems related to your immigration status.

In this article we provide an overview of the process, including key aspects such as how much it costs to renew permanent residence, the requirements, Green Card validity, and everything you need to know to comply on time and in proper form with U.S. immigration authorities.

What is the eligibility criterion?

The first thing to know is that there are two types of residence: permanent and conditional. These are the main differences:

• Permanent residence: this is Lawful Permanent Resident (LPR) status. Although the residence is permanent, the physical card does have a validity period, so it must be renewed at least 6 months before the expiration date. Although some residence permits do not show their validity explicitly, most are valid for 10 years.

• Conditional residence: this is a step prior to obtaining permanent residence, such as a period following a marriage between a foreign national and a U.S. citizen or lawful permanent resident. It is valid for 2 years and cannot be renewed.

These are the eligibility criteria for both types of residence.

Eligibility criterion for permanent residence

To obtain permanent resident status, your profile must fit one of the eligibility categories and meet the requirements set by USCIS (U.S. Citizenship and Immigration Services).

Family

It is divided into two subcategories:

• Immediate relatives of U.S. citizens: spouses and unmarried children under 21.

• Family preference category: unmarried children over 21 of citizens; spouses and children of permanent residents; married children of citizens; and siblings of citizens.

Employment

There are five employment-based residence categories:

• EB-1 visa: workers with extraordinary ability.

• EB-2 visa: accomplished professionals with an advanced degree and exceptional ability.

• EB-3 visa: skilled workers, professionals, and “other workers.”

• EB-4 visa: religious workers, U.S. government employees, members of the Armed Forces, among others.

• EB-5 visa: investors who allocate substantial funds to businesses that generate at least 10 jobs in the country.

Refugees and asylees

People who entered the United States through an asylum petition, and their family members, may apply for permanent residence after completing at least 1 year in the country.

Special immigrants

This category includes people who have been victims of abuse by U.S. citizens (VAWA visa) and minors who have been harmed and/or abandoned by their parents (SIJ visa).

Special categories

This category includes the Diversity Visa or Green Card Lottery, an annual drawing with up to 50,000 consular interview slots, as well as special provisions for Cuban citizens and other nationalities.

Eligibility criterion for conditional permanent residents

Conditional residence, in most cases, is valid for 2 years. Then it is necessary to file the petition to remove conditions within the 90 days prior to expiration.

• Conditional residence based on a marriage of less than 2 years at the time status is obtained.

• Conditional residence through investment under the EB-5 category.

What are the requirements to renew permanent residence?

Currently, there are three ways to complete the renewal process to obtain a new resident card.

File online

The easiest way is through the USCIS website, since you can do it anywhere and at any time of day. You only need to create an account, upload your documents, and track your status.

Paper filing

Another alternative is to mail Form I-90 to the USCIS office. It is advisable if you prefer handling physical documents, although processing time is usually longer.

In-person filing

You can also apply in person, though it is limited to exceptional cases such as humanitarian emergencies or technical issues. It is suitable if you urgently need USCIS guidance; otherwise, the recommended route is through the website.

Documents needed to renew a Green Card

These are the documents you must attach to your renewal application, regardless of the method you use.

• Form I-90 to apply for renewal of the Permanent Resident Card.

• Payment of the applicable fee, biometrics (if required), a copy of the expired card, or a theft/loss report.

How much does it cost to renew residence?

Most residents must pay a filing fee when applying to renew the card.

The current cost to file Form I-90 for Green Card renewal is:

• $415 USD if you file online.

• $465 USD if you file on paper.

In some cases, you may be required to provide biometrics (fingerprints, photo, and signature), but since 2024 there is no longer a separate fee.

What are the consequences of not renewing residence on time?

It is very important to complete the process in time to obtain a new permanent resident card. Although expiration of your card does not mean you will automatically lose permanent residence, you could face a number of issues with U.S. authorities, for example:

Difficulties renewing your driver’s license

In many states, a valid Green Card is required as proof of legal residence when issuing or renewing a driver’s license.

Losing access to certain benefits and services

Various public services and state and local programs may request a valid Green Card as proof of eligibility. Otherwise, they may request additional documents and delay processing.

It is also common for financial institutions to request valid proof of status when processing applications to open a bank account or obtain a credit card.

In such cases, you can present your Form I-90 receipt number or other identity documents, such as a valid passport and Social Security number.

Difficulties reentering the United States

If your Green Card expires while you are outside the U.S., you may have problems with the authorities upon reentry, because U.S. immigration laws require proof of status.

In this case, you will need to request a reentry permit via Form I-131 or an ADIT stamp in your passport.

If you plan to be outside the United States for an extended period, consider applying for a reentry permit even if your expiration date is not near. This will help you avoid problems or delays when reentering.

Not being able to prove you have valid authorization to work in the U.S.

To work legally in the United States, employers must present proof of eligibility along with Form I-9. When a Green Card expires, it is no longer considered valid proof.

In this case, you may present the Form I-90 receipt as temporary proof. If the employer does not accept it, you can contact USCIS directly or seek advice from an immigration attorney.

To avoid greater complications at work and in other aspects of your life, it is best to keep your Green Card expiration date top of mind and start the renewal process at least 6 months in advance.

Simplify your financial management with Común

As you can see, renewing the Permanent Resident Card is fundamental to maintaining legal status and the rights it provides. Therefore, it is essential to understand the requirements, costs, and procedures clearly so you can approach the process with greater confidence and efficiency.

Always remember to stay informed about available options, such as fee waivers, and to follow the established steps to ensure successful renewal of your Green Card.

Making the payments for your immigration process can be challenging if you don’t have the right financial tools. That’s what Común is for!

Común is a financial platform that addresses day-to-day needs in the United States through an easy-to-use mobile app, where you can open an account with qualifying official identification from your country of origin.

It also offers remittance services to several countries, with competitive fees that help you save. Discover Común, an excellent option dedicated to serving immigrant communities in the United States, with support available in Spanish.

Haven’t tried Común yet? Open your account today and discover a reliable option to manage your money in the U.S. safely and efficiently.

Frequently Asked Questions

If you still have questions, consult our FAQs.

How much time do I have to renew my permanent resident card?

USCIS allows you to file Form I-90 up to 6 months before your Green Card’s expiration date.

How long does it take to renew a permanent resident card?

Renewal times vary widely depending on the service center, application volume, and whether there are errors to resolve. A routine renewal takes around 2 months; in cases of theft or loss, it can exceed 20 months. However, note that for most permanent residents the process tends to take between 7 and 11 months.