For immigrants in the United States, sending money to their home countries regularly is essential. Therefore, it is important to have access to affordable and accessible financial services.

If you want to know how to make an international money transfer, it is crucial to first compare the different providers of this service and choose the one that offers the most advantages for you and your family.

Comun stands out as a popular option among immigrants because it allows them to send money abroad from the United States, offering advantages in terms of cost, speed, and other key factors.

Below, we provide a comparison table that includes Comun and traditional financial institutions in the United States, such as Bank of America and Wells Fargo:

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How Does an International Money Transfer Work?

The first point to understand is the types of bank transfers available, as this determines the final cost of sending an international money transfer.

In the United States, there are two types of international money transfers: through traditional banks or through specialized services for sending money abroad.

International Money Transfers via Traditional Banks

• Supported by official U.S. financial institutions and security measures, including:
  
  • Identity verification (KYC/CIP) and ongoing AML monitoring (BSA).
  • OFAC sanctions screening for senders and recipients.
  • Consumer protections for remittances under Regulation E (pre-transfer disclosures, cancellation rights, and error resolution).
  • Network and messaging security standards (e.g., SWIFT Customer Security Program).
  • Multi-factor authentication and encryption for online banking access.
    
    
• A U.S. bank account is mandatory
  
  
• Operates through the SWIFT code
  
  
• Generates higher fees due to intermediaries
  
  
• Transfer time may take up to 5 business days
  
  

International Transfers via Specialized Applications

• Operates through digital networks connected with banks or physical branches in each recipient country
  
  
• Lower fees, as they do not use intermediaries and offer more competitive exchange rates
  
  
• Money transfers are completed within minutes or hours
  
  
• A U.S. bank account is not mandatory to use these services
  
  

Before paying unnecessary fees, make sure to choose the best international money transfer provider and make the most of your money.

Steps and Requirements for Making an International Money Transfer

Below, we outline what is needed to easily make an international bank transfer from the United States, whether you choose a traditional bank or a specialized application for this type of service:

1. Choose a Provider

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Some of the traditional banks you can use are Chase, Bank of America, Capital Bank, Citibank, and Wells Fargo. If you don't have a US bank account, you'll need to make sure you have the necessary requirements to open an account, such as a Social Security Number (SSN). For the aforementioned banks, you can present an ITIN instead, along with a government-issued ID.

Another factor to consider is how long an international money transfer takes, as traditional banks usually take longer due to intermediaries involved in the process.

If you prefer a specialized application for international money transfers due to the flexibility they offer compared to banks, an excellent alternative is Comun, which allows you to transfer money from your phone without complications or intermediaries.

2. Create an Account

General Requirements for Opening an Account at a U.S. Bank

• Valid passport or immigration document
  
• Social Security Number (SSN)
  
• Individual Taxpayer Identification Number (ITIN)
  
• Proof of address in the United States
  
• Some banks require an initial deposit of approximately $25 USD
  Depending on the bank, you may open the account online or by visiting a branch for data verification.
  
  

Requirements for Opening an Account with Comun

• Mobile phone compatible with Android or iOS
• Email address
• Official foreign identification
• Have a US residential address
  
  

In both cases, you will have access to a debit card and a mobile application that will allow you to make international money transfers and other transactions from the palm of your hand.

3. Enter Transaction Details

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Once you activate your account, enter the information required for an international money transfer:

• Full name of your recipient, as it appears on their official ID
  
• Recipient’s phone number
  
• Recipient’s address (only if sending money to a bank account)
  
• Recipient’s account number (only if sending money to a bank account)
  
• SWIFT code (if transferring through a traditional bank)
  
  

Then, enter the amount you wish to send.

Comun and other specialized applications also allow cash pickup at physical locations, so your recipient does not need a bank account.

4. Review Costs and Rates

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Next, review the international money transfer fees as well as the exchange rate, as these will impact the final amount your recipient receives.
The cost of an international money transfer depends on several factors, which we detail below.

5. Send the Money

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Once you confirm that the information entered is correct, authorize the transfer, including any additional fees.

Comun allows you to track your transfers through its application, whether you choose to send money to a bank account or opt for cash pickup at a physical location.

Remember that transfer speed depends on the platform, and traditional banks can take up to 5 business days to complete these transactions.

6. Confirm Receipt

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Finally, confirm with your recipient that the transfer was received within the stipulated timeframe. You can generate a transaction receipt directly in the mobile application.

Everything About the Cost of Sending Money Abroad from the U.S.

International money transfers are a common practice among immigrants in the United States.

That is why it is essential to detail the factors that influence the cost of transfers, as well as the best options for sending remittances to your family quickly and without complications.

These are the main factors to consider when calculating the cost of your international money transfers:

• Transfer Fees

International transfers incur a fee, which varies depending on the platform, whether it's a traditional bank or a specialized app.

Another factor that affects the fee level is the method used to send the money. The price can vary depending on whether the transaction is made through a website, an app, or at a physical branch.

International money transfer fees at traditional banks vary depending on the financial institution. Here are some examples:

• Bank of America: $45 USD
• Wells Fargo: from $25 to $40 USD 
• Citibank: from $25 to $35 USD 
• Truist Bank: $65 USD

On the other hand, some mobile applications offer international money transfer options for less than $3 USD, which is much more beneficial for the economy of foreign workers.

• Exchange Rate
   

The exchange rate also significantly impacts the final amount your recipient receives. It refers to the value applied by the platform when converting the dollar amount to the local currency.

Traditional banks generally use a lower rate than the official rate. For example, if the Mexican peso is officially 18.00, banks might apply approximately 17.20 MXN.

This means that if you send $300 USD, your recipient could receive about $13 less (240 MXN less), not counting the bank fees, which make the cost even higher.

• Hidden Fees

In addition to international money transfer fees, traditional banks may charge additional fees if intermediary banks are involved in processing the transfer.

We recommend checking all costs involved and choosing a competitive option that does not reduce the total amount your family will receive.

Comun is an excellent alternative for making international money transfers, as your first transfer fee is waived, and subsequent transfers have a fee starting at $2.99 USD per transfer, up to applicable limits, with no hidden fees or intermediaries.

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Review our comparison table between traditional banks and Comun at the beginning of this article, and choose the best option for your money.

Want to Make Secure International Money Transfers? Do It Easily with Comun

In this article, we presented how to make an international money transfer from the United States through traditional banks or specialized applications such as Comun, an excellent choice for immigrants.

Comun is the solution for bringing immigrant families closer together through affordable and low-cost remittances.

Why Choose Comun for International Money Transfers?

• Easily open your account with official documentation from your country
  
• Send money to your family with a transfer fee starting at $2.99 USD, up to the applicable limits.
  
• Your money will arrive within minutes
  
• Access a mobile application and Visa debit card for better control of your finances
  
  

Discover an easy and fast way to access the financial services you deserve. Open your account with Comun and forget about complications.

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Today, sending money to other countries has become a basic need for millions of immigrants living in the United States.

According to the IDFR ( International Day of Family Remittances) campaign in 2025, over the last decade, immigrants sent around 5 trillion dollars in remittances to their countries of origin, which are essential for food, housing, health, and other basic expenses.

To meet this need, there are applications such as Xoom, a PayPal service for transferring money using various payment methods and in a secure manner.

In this guide, we will review how to send money with Xoom step by step, its main features, and some alternatives to connect with your family outside the U.S.

What is Xoom, and is it safe to send money with this service?

Xoom is a digital transfer network owned by PayPal that operates entirely online and offers different sending options to facilitate transactions.

It has become one of the most popular options for making international digital money transfers, due to the backing provided by PayPal, which gives users a sense of security.

In addition to PayPal’s backing, Xoom has high security standards for transferring money, such as SSL encryption and the VeriSign seal.

Additionally, its services are available to send money from the United States to more than 70 countries, including Mexico, Guatemala, Honduras, Peru, among others.

7 detailed steps to send money with Xoom

To send money through Xoom, just follow the steps below.

Access Xoom (web or mobile application) and sign in or register

You can choose to log in via the website www.xoom.com or the mobile application. Once there, sign in or open an account with your email address. You can also use your PayPal account to access.

Select the destination country and the amount to send

Choose the country to which you want to send the transfer. Then you will see the sending options available for the selected destination.

Choose the sending method

Xoom offers the following payment methods:

• Bank deposit
• Cash pickup at physical locations, such as Oxxo or Elektra
• Mobile top-up
• Bill payment
• Cash delivery

Provide the recipient’s details

The information you must enter is:

• Full name, as it appears on their official ID
• Address
• Phone number
• Bank account (if applicable, depending on the sending method)

Select your payment method

Next, enter the amount you want to send and select the payment method, among which are:

• Linked bank account
• Debit card or credit card
• Available balance in your PayPal account

Review and confirm the transaction

Before confirming the transfer, Xoom will display the details so you can verify they are correct, along with the amount corresponding to fees, as well as the exchange rate used for the currency conversion.

Track your transfer with the tracking number

Obtain a tracking number and check the status of your transfer directly in Xoom’s application or website.

Key aspects to consider when using Xoom

Although Xoom is a popular alternative for making fast and secure transfers, it is important to consider several aspects before choosing this option.

Sending fees

Xoom’s sending fees are not fixed; they depend on the destination country, the amount to send, and the payment method.

Generally, the most expensive method is with a credit card and the least expensive is through an  account.

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Exchange rate

The exchange rate can be another drawback because, in addition to being calculated directly on Xoom’s platform, it varies depending on the selected transfer method.

Sending limits

Xoom imposes sending limits that depend on each account’s verification level. For unverified users residing in the U.S., the daily limit is $2,999 USD. By contrast, verified users can send up to $10,000 or $50,000 USD per day, depending on their verification level.

Receiving options

Xoom has different receiving options, but they may vary depending on the destination country.

In general, it is possible to send money for cash pickup at different payout locations, by bank deposit, top-up, or bill payment.

Security and reliability

Xoom is backed by PayPal, in addition to SSL/TLS encryption to protect your financial information and anti-fraud monitoring to ensure your money reaches its destination.

Delivery times

Generally, money transfers via debit card and cash are reflected within minutes. However, other sending methods, such as bank deposit, can take from 1 business day.

The total time will appear before you confirm your transaction in Xoom’s application or on its website.

Accessibility

Xoom is also available in Spanish and, overall, is easy for migrants in the United States to use.

Modern alternatives to sending money with Xoom: Why is Común a smart choice?

Sending money outside the U.S. is essential, as is having efficient international transfer services such as Xoom. However, there are also more innovative options that offer you greater advantages and lower costs so that your family and friends receive much more.

Común is an innovative and comprehensive financial service that meets the financial needs of users living in the United States, especially immigrants. Unlike Xoom, Común has a specialized focus and transparent fees.

With Común:

• Open your account with an official ID from your country; more than 100 identifications are accepted.
• After your first free transfer, pay a fee starting at $2.99 USD per transfer, up to the applicable limits.
• Access customer service in Spanish and English, available 24/7.
• Get a Visa debit card to make purchases at physical merchants.
• Manage your finances from Común’s mobile platform, where you can sync your external bank account and manage your finances from the Común platform.

Still unsure which option is most convenient for sending money? Discover Común and get to know the easy and safe side of finance.

Frequently asked questions

If you want to learn more, see our FAQ section

How do I send money from Mexico to the United States using Xoom?

It is not possible to send money from Mexico through Xoom, since it only allows transfers from the United States, Canada, and other European countries.

How long does it take for money to arrive via Xoom?

Depending on the sending method, it ranges from minutes to up to 3 business days.

Is it safe to use Común to send money to Latin America?

Yes, Común has the necessary security measures in place to keep your money and personal data safe.

Can I use Común even if I don’t have a PayPal account?

Yes, Común is an independent platform from PayPal, and you can open an account with official ID from your country.

Can I make cash deposits if I don’t have a bank account in the U.S.?

Yes, Común allows you to deposit cash at numerous locations near you.

What is a certified check and how does it work?

Certified checks are a common form of payment for thousands of immigrants living in the United States, especially for major purchases such as rent payments, buying a car, and legal settlements.

However, it is not always clear why the certification process matters and how it differs from other types of checks.

A certified check is a physical payment order that has been reviewed in advance by a financial institution to ensure there are sufficient funds in the issuer’s bank account. This is the fundamental reason it’s considered a safer form of payment than a personal check.

Below, we explain in detail what a certified check is, how it works, and why it’s important to understand the differences from other types of checks.

What is a certified check?

A certified check is a type of check with guaranteed funds, since the issuing bank has verified the money exists in the checking or personal account.

This makes it a safer form of payment than personal checks, because the bank sets aside the amount to be paid so it can be collected by the payee.

How is a certified check issued?

Issuing a certified check is a straightforward process you can complete directly at the financial institution of your choice.

• The customer requests the check

The account holder must go to a bank and request a certified check, specifying the payee and the amount.

• Customer identification

You must present an official ID to verify that you are the holder of the savings or checking account from which the funds will be drawn.

• The bank freezes the amount in the account

The bank then certifies there are sufficient funds to cover the check and freezes them to ensure the payee can cash it.

• Signature certification

You must sign the check before finishing the process so the bank can confirm the signature matches the one on file.

Affixing the certification stamp

Finally, once the bank has verified the funds and the signature, it places a certification stamp to document completion of the process.

Differences between a certified check and a cashier’s check

A cashier’s check is another way to make secure payments using a physical instrument. In this case, the bank branch issues the check after receiving the customer’s payment, so the funds come from the bank itself.

Below is a comparison between a cashier’s check and a certified check.

Cashier’s check

Certified check

Security

High; the bank verifies sufficient funds and places a hold for the payee.

Very high; the check is backed by the bank and does not depend on the issuer’s account.

Cost

At some banks they have no cost at others up to approximately $15.

Depends on the bank; typically $10–$20.

Issuance time

At the branch, after funds are verified.

Immediate.

When is a certified check typically required?

A certified check is commonly used for significant transactions or large amounts. This gives the recipient assurance that funds are available.

• Paying an apartment security deposit.

When finalizing a lease or purchasing an apartment, the landlord or agent may request payment via certified check to guarantee funds.

• Buying a used car.

Whether dealing directly with owners or dealerships, a certified check can be a suitable option because of the security it provides.

• Closing an important contract or legal settlement.

For example, to pay fees, settlements, or indemnities, certified checks provide security for both parties.

• For tuition or school fees.

Some educational institutions accept certified checks as a form of payment, especially for international or first-time payments.

Do you know what to do if a check is stolen or lost? We explain it here!

Practical tips for using certified checks safely

While certified checks are among the safest payment methods due to the bank’s verification process, there are still fraud attempts using forged documents.

With this in mind, keep these tips in mind to avoid becoming a victim of check fraud.

How to know if a check has funds and avoid scams

• Verify with the issuing bank. 

Call the bank directly and provide the check number, account holder, and amount; ask them to confirm authenticity and that funds are guaranteed. Make sure you call the bank’s official number, not the one printed on the check.

• Be alert if you receive an overpayment check. 

A common scam is sending a check for more than the amount due and asking for the difference in cash. Confirm the check’s validity with the bank before proceeding.

• Wait for the check to clear before handing over any goods. 

Clearing can take 3–10 days. Make sure the funds have fully settled and are not just on hold.

• Avoid accepting checks from unknown parties. 

Whenever possible, accept checks only from people you trust. If you must take a check, follow the security measures above.

Manage your money securely with Común

In this article we explained what a certified check is, how it’s issued, how it differs from cashier’s checks, and how to use this payment method safely.

While certified checks can be a good payment option, a checking account in the U.S. is a much more secure and practical way to manage money.

Meet Común, your financial ally in the United States!

Send, receive, and cash money within and outside the United States. Our platform lets you move your money easily, quickly, and securely. You need a qualifying official ID from your country of origin to get started.

Open your account with Común today and discover a financial platform tailored to you.

Frequently Asked Questions (FAQ)

Where can I get a certified check in the United States?

You can request certified checks at financial institutions such as banks, credit unions, and some digital banks.

How much does it cost to get a certified check at the bank?

The cost depends on the bank but is typically between $10 and $15.

What other types of checks exist in the U.S. besides certified checks?

Other types of checks in the United States include: Money order; Personal check; Cashier’s check.

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Una cuenta de banco es una cuenta financiera que un cliente tiene en un banco. La cuenta bancaria permite a los clientes depositar y retirar dinero, así como emitir cheques. Por esto mismo también se le llama cuenta de cheques.

Las ventajas de tener una cuenta bancaria son, entre otras:

• fácil acceso a su dinero - acceso bancario 24 horas al día, 7 días a la semana, a través de la página web o la aplicación del banco
• no es necesario llevar dinero en efectivo encima
• posibilidad de ganar intereses por sus depósitos
• crear un historial de crédito, lo que puede ser importante cuando quiera pedir un préstamo en el futuro

¿Cómo abrir una cuenta bancaria?

Abrir una cuenta bancaria es relativamente fácil. Tendrás que facilitar algunos datos personales, como su nombre, fecha de nacimiento y dirección. También se le pedirá una identificación; normalmente el número de Seguridad Social (SSN por sus siglas en inglés) basta para esto. Bancos más modernos, como Comun, ofrecen la posibilidad de reemplazar el SSN con su pasaporte o matrícula consular. Es posible que también se le pida documentación que demuestre prueba de residencia.

Los diferentes tipos de cuentas bancarias disponibles

Hay diferentes cuentas bancarias entre las que puede elegir. La cuenta de banco más común es la cuenta corriente, que le permite depositar y retirar dinero, así como emitir cheques. Una cuenta corriente es una gran opción si quieres acceder a tu dinero fácilmente sin llevar efectivo encima, ya que la tarjeta de débito de tu cuenta te permite hacer pagos en cualquier establecimiento.

Otro tipo de cuenta bancaria habitual es la cuenta de ahorro. Las cuentas de ahorros le permite ahorrar dinero y ganar intereses sobre sus depósitos. Es una gran opción para los que quieren acumular sus ahorros con el tiempo.

También hay una serie de cuentas bancarias especializadas, como las cuentas para estudiantes, personas mayores y empresas. Asegúrese de investigar las diferentes cuentas bancarias disponibles y elija la que mejor se adapte a sus necesidades.

Cómo gestionar una cuenta de cheques en línea

Muchos clientes de bancos eligen gestionar su cuenta bancaria en línea. Esto puede hacerse a través del sitio web o la aplicación del banco. La gestión de su cuenta bancaria en línea le permite acceder a su cuenta 24 horas al día, 7 días a la semana.

Algunas de las cosas que puede hacer en línea son:

• ver el saldo de su cuenta y el historial de transacciones
• transferir dinero entre cuentas de ahorros y de depósitos
• pagar facturas
• pagar su tarjeta de crédito
• depositar cheques
• configurar alertas bancarias para eventos específicos, como un saldo bajo o un depósito grande

¿Cuáles son los costos de abrir una cuenta bancaria en Estados Unidos?

Algunas cuentas, como las que ofrece Comun, son completamente gratis. Sin embargo, hay muchos bancos que sí cobran comisiones. Entre ellos están algunos de los bancos más populares de Estados Unidos:  Bank of America, JPMorgan Chase, Citigroup y Wells Fargo. Éstas son algunas de las comisiones que cobran:

• cuota mensual de servicio
• requisito de saldo mínimo
• cargo por sobregiro
• comisión por canjeo de cheques.

Ciertos bancos también limitan el uso del español en sus interfaces digitales o en sus centros de atención al cliente. Asegúrese de investigar las comisiones que se cobran y el lenguaje que se usa antes de abrir una cuenta con cualquier banco.

Respaldo del FDIC

La Federal Deposit Insurance Corporation (FDIC) es una agencia gubernamental que asegura los depósitos de los consumidores en los bancos que forman parte de su red. Es importante escoger un banco que cuenta con este respaldo, ya que tendrás hasta $250,000 de tus fondos asegurados por el gobierno de Estados Unidos en caso de que tu banco falle.

Los beneficios de Comun

En Comun encontrarás una cuenta coriente completamente gratis, en español (desde la aplicación móvil hasta el servicio al cliente), y con la flexibilidad de aplicar con su pasaporte, sin importar su nacionalidad. La apertura de cuenta es muy fácil y tendrás acceso a ella 24 horas al día, al igual que la posibilidad de pagar facturas o depositar cheques. Comun cuenta con el respaldo del FDIC, así que tus fondos están asegurados por hasta $250,000 USD.

Como con cualquier otro servicio financiero, asegúrate de investigar diferentes opciones disponibles y elija la que mejor se adapte a sus necesidades.

How to create an emergency fund and save in the U.S., step by step

If you’re new to the United States or facing financial challenges, it’s very important to have strategies to prepare for any eventuality.

An emergency fund is an excellent way to do this, and it also builds your financial literacy. It’s a cash reserve meant to cover unexpected expenses such as illness, job loss, home repairs, etc.

Having this cushion gives you peace of mind and removes uncertainty about the future, since it provides the liquidity you need to handle the unexpected.

You might think you need to earn a lot to build an emergency fund. Below, we’ll show that even with limited resources, you can start securing a future without financial complications.

What is an emergency fund and why is it key to your financial peace of mind?

Surely at some point during your time in the U.S., you’ve faced financial emergencies that made it hard to cover daily expenses—traffic fines, immigration procedures, illnesses, unemployment, repairs, etc.

An emergency fund is meant to support your finances precisely when those events occur. It’s savings set aside to handle all kinds of unforeseen expenses.

Beyond a stash of money, think of the emergency fund as a way to maintain peace of mind and reduce stress; it helps you preserve financial stability and avoid going into debt.

How much should you save in your emergency fund?

Knowing how to size an emergency fund is the first dilemma for many who aren’t used to long-term saving. While the ideal target is 3–6 months of basic expenses, if your income is limited you can start with small savings goals.

Below is a comparison of how your emergency fund would grow assuming expenses equal to 50% of total monthly income.

Monthly income

Approx. monthly expenses

3-month savings target

6-month savings target

$1,500

$750

$2,250

$4,500

$2,500

$1,250

$3,750

$7,500

$3,500

$1,750

$5,250

$10,500

Where should you keep your emergency fund so it’s safe and accessible?

It’s very important to choose a safe, easy-access place for your emergency fund and keep it separate from the money you use for daily expenses.

Today there’s a wide variety of savings accounts, both from traditional financial institutions and online platforms.

Whatever you choose, the following options are not recommended for storing your emergency fund.

• Cash at home

Whether under the mattress or in a piggy bank, keeping your emergency fund in cash is not a good idea for several reasons. First, there’s the risk of theft or loss. Also, the cash earns no interest and loses value to inflation. Another drawback is low accessibility if you need to cover expenses digitally.

While it’s true that opening a checking account can be challenging for immigrants in the U.S., there are accessible options so you don’t have to keep the emergency fund in cash.

• In high-risk investments

Although investments have advantages, high-risk ones involve sharp fluctuations that could cause losses. They also often require locking funds for a long period.

Simple strategies to build your emergency fund

If you’re new to personal finance, the first thing to know is that an emergency fund isn’t just for high earners. The key is to examine your lifestyle and spend according to a savings plan.

Step 1. Calculate your basic monthly expenses

The first step is to list all your fixed monthly expenses and the amount for each.

Example:

• Rent: $1,300

• Transportation (public or private): $100

• Tuition: $200

• Subscriptions: $50

Then list your variable expenses and calculate a budget. To be more accurate, track all your spending by category.

Example:

• Food: $300

• Leisure: $200

Finally, total your monthly spending. In the example above, monthly expenses add up to $2,100.

Step 2. Set your first goal

At first, reaching 3–6 months of expenses can sound impossible. You don’t have to give up what you enjoy—start with a small amount each month and increase gradually.

Your first savings target depends on your income, your expenses, and the resulting capacity to save.

Step 3. Adjust your budget and allocate a fixed percentage to savings

After doing the math, add “savings” as a fixed expense so you set that money aside every month.

Step 4. Automate with scheduled transfers

Ideally, open a new account so your emergency fund doesn’t mix with daily-use money.

An easy way to fund it is with automatic transfers so you don’t have to remember to move money each time.

Step 5. Review and raise your goal until you reach 3–6 months of expenses.

After a few months of hitting a small goal, reassess your budget and consider increasing your savings as you’re able.

Organize and protect your money with Común

As you can see, an emergency fund provides financial security for unexpected events. It’s also easy to start with small goals and increase gradually until you reach financial peace of mind.

The next step is choosing a safe place to keep your emergency fund secure.

Meet Común, the financial platform dedicated to making life easier for immigrants in the United States!

• Open your checking account at Común with a qualifying official ID from your country of origin.

• Send money to your family with clear, competitive fees.

Común is a financial platform designed to support your first steps toward financial stability in the U.S.

Open your account with Común today and start your emergency fund with a financial ally that truly understands you.

Frequently Asked Questions (FAQ)

If you still have questions, check this section.

Is it better to save for the emergency fund or pay debts first?

Having debts doesn’t prevent you from starting an emergency fund. Just include debt payments among your fixed monthly expenses and set your savings goal accordingly.

What happens if I use the fund and end up with no savings?

If you use your emergency fund for unexpected expenses, that’s fine—that’s its purpose. If you run it down, don’t worry; just start again based on your budget.

When should I use my emergency fund?

Your emergency fund is intended to cover unexpected events like medical bills, appliance breakdowns, layoffs, etc. When that happens, use it—and keep saving afterward.

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The bank routing number, or ABA Routing Number, is essential information for making money transfers. It is a 9-digit code used to identify each financial institution in the United States.

This code is so important because it ensures that electronic transactions are carried out correctly and that funds reach the designated bank.

In this article, we offer a complete guide to help you understand what a bank routing number is, what it does, where to find it, and how it is used in everyday electronic financial transactions.

What is a bank routing number (ABA), and why is it essential in the U.S. banking system?

An ABA routing number, or transit routing number, is a unique 9-digit code that serves as an identifier for each financial institution in the United States.

It differs from a bank account number in that an account number is personal, valid for the use of a single user only. By contrast, the routing number is a unique identifier for banks, credit unions, and digital banks.

The primary function of the routing number is to allow financial institutions to precisely identify which bank to send to or receive from during routine operations such as direct deposit of payroll, automatic payments (ACH), and electronic transfers.

It is important to note that this code is different from a bank account number and is not equivalent to the IBAN (International Bank Account Number), which is a set of numbers used especially in Europe to identify international bank accounts and is composed of the country code, check digits (the checksum of the bank account number), and a bank account number.

In the United States, however, the SWIFT/BIC code is used for international money transfers, not the IBAN.

Here are some crucial functions of the bank routing number in digital transactions.

Unique bank identification

The bank routing number helps prevent errors when identifying a specific bank and processing a transfer from one institution to another, even when they have similar names or many branches across the country.

Facilitates electronic transfers

This code is also indispensable so that ACH systems and wire transfers can send funds to the correct destination, quickly and securely.

Key for direct deposits

The ABA number is also essential for employers to make direct deposits, using that code together with the checking account number, without the need for checks or cash.

Automated bill payments

To set up automated payments for services such as electricity, water, and online subscriptions, you must provide the bank routing number so the billing system can process the transaction automatically.

Handling funds between banks

This number is also indispensable for transactions involving multiple financial institutions, such as interbank transfers or check clearing.

How to find a bank routing code and your bank account number

By now, the importance of the ABA number is clear. But how do you find a bank routing code? Knowing this information is the first step to making transfers correctly.

Likewise, it is essential to understand how to find your bank account number and to tell one number from the other to avoid confusion.

The routing number consists of 9 digits and identifies the bank. The account number has usually 10 to 12 digits and identifies the individual account within the bank.

To find your account number, look at the bottom of a check; it is the series of numbers that follows the routing number. You can also find it at the top of a statement or directly in the mobile application.

It is essential to make sure you have the correct routing number before making a transfer. Therefore, it is advisable to confirm it directly with your financial institution to avoid errors.

Many users ask where to find the routing number on a physical debit card. However, the routing number is not printed on such instrument because it is intended for digital transfers, not for payments at physical merchants.

These are the most common places to find the routing number for your bank or financial institution.

On your checks

Check the lower left corner of your personal or business checks; the routing number is the 9 digits shown there.Another relevant detail is the check number, which is usually at the top.

Mobile application

Another way to find this code is to access your mobile application and go to the transfers or direct deposit information section.

Bank statements

Check your latest bank statement, whether physical or digital; the routing number may appear in a section of that document.

Direct contact with your bank

If you have any doubt about the routing number, you can contact your bank by phone or visit a branch so they can clarify any questions before you make a bank transfer.

Your routing number and account: Key tools for your finances in the U.S. with Comun

Throughout this article, we have learned the importance of both the bank routing number and the bank account number in the U.S. financial system. Both are indispensable for carrying out fast and secure digital transactions.

Being clear about what a bank’s ABA number is not only lets you carry out digital transactions with ease but also gives you financial autonomy to allocate your resources toward the services you need for your well-being.

The U.S. financial system can seem complicated, especially for immigrant communities. That is why Comun seeks to streamline processes and offer transactions without complications.

• Receive and send money easily from your mobile application
• Integrate other applications and enhance your experience
• Access support available in Spanish and English
• Send international remittances with fees starting at $2.99 USD, up to the applicable limits.
• Get started with official ID from your country

Open your account today and discover an ally to manage your finances in the United States.

Frequently Asked Questions

If you have more questions, check our frequently asked questions section.

Where can I find my routing number if I don’t have checks?

You can find it on your account statement or by calling the bank directly.

What is the routing number for ACH transfers?

It is the code that identifies each bank and consists of 9 digits.

Is the routing number the same for all banks?

No. Each bank has a different routing number.

What is the routing number on a card?

The routing number does not appear on physical cards.

What is the routing number on a check?

It is found at the bottom of a check and consists of 9 digits.

Unmatched Ease of Opening an Account

Opening a checking account with Comun is simple and hassle-free, addressing the barriers to financial exclusion typically faced by the immigrant community. Accepting over 100 forms of identification², including social security numbers from Latin American countries, Comun ensures that immigrants have access to essential banking services. The application process is quick, taking less than 5 minutes, and is free of additional or hidden fees, minimum balance requirements or monthly commissions. This inclusiveness is central to Comun's mission of fostering financial stability and growth.

Mobile Deposit Options

Comun: Comun offers a convenient mobile deposit feature that allows users to deposit cash at more than 88,000 locations in the United States, including major retailers such as Walgreens, Dollar General and Walmart. This extensive network ensures that users can easily find a deposit location near them, making the process of adding money to their accounts simple and hassle-free.

Traditional Banking: Although many traditional banks offer mobile deposit options, they often restrict these to check deposits through a mobile app. Cash deposits typically require a visit to an ATM or bank branch, which can be less convenient and more time-consuming than Comun's extensive cash deposit network.

Utility in Today's World: In today's fast-paced environment, the flexibility to deposit cash in a wide range of accessible locations is invaluable, especially for individuals who may not have easy access to traditional banking services or who work non-traditional hours when banks are closed.

International Remittances

Comun: Comun excels in facilitating international remittances⁴, allowing users to send money abroad quickly and with lower fees compared to many traditional banks and remittance services. The process is enhanced with real-time notifications, keeping the sender informed from the moment the money is sent until it is received.

Traditional Banking: Traditional banks generally offer international transfer services, but these can be expensive and slow, with transfers sometimes taking several days to complete. In addition, the fees associated with traditional bank remittances can be significantly higher.

Usefulness in Today's World: In a globalized economy, the ability to send money across borders quickly and affordably is crucial. Many families rely on remittances for financial support, and businesses need efficient ways to handle international transactions. Comun's streamlined and cost-effective service effectively meets these modern demands.

Advance Salary Access

Comun: Comun offers the ability to connect wages to the application and receive payment up to two days in advance³. This feature incurs no additional fees, providing significant relief during financial emergencies or when planning ahead.

Traditional Banking: Some traditional banks have begun to offer similar features, but they are often tied to specific types of accounts or require a minimum balance. The accessibility and ease of use of early access to Comun's salary is not always matched in traditional environments.

Usefulness in Today's World: With the rise of gig economy jobs and irregular pay schedules, having early access to wages can provide a buffer against financial instability. This feature is particularly valuable for those living paycheck to paycheck, offering a cushion that can help avoid overdraft fees and late payments.

Unlike traditional banking institutions, Comun's innovative features are designed to meet the needs of today's diverse and mobile population, particularly benefiting the immigrant community in the U.S. By providing services that offer greater convenience, lower costs and greater accessibility, Comun not only addresses common challenges faced by its users, but also empowers them toward greater financial freedom and stability. As we move toward a more interconnected and fast-paced world, the importance of responsive and inclusive financial services continues to grow, something Comun is uniquely positioned to offer.

Robust Security and Customer Support

Security and customer support are paramount at Comun. With FDIC-insured accounts and Visa protection on virtual Visa debit card transactions, Comun customers can manage their funds with confidence. Innovative security features such as biometric logins and instant transaction notifications keep your money safe. In addition, Comun offers 24/7 customer support in English and Spanish, ensuring that help is always available in your preferred language.

Commitment to Zero Fees and Upward Mobility

Comun stands out not only for offering zero fees for account opening, monthly maintenance or minimum balances, but also for its commitment to helping its users move up the financial ladder. Comun acts as a financial partner, supporting financial transactions without the burden of excessive fees. This commitment aligns with the goal of enabling upward mobility for immigrants, who contribute significantly to the U.S. economy.

Customized Features and Benefits

Comun goes beyond traditional financial services by offering features designed to meet the unique needs of the immigrant community. Users can send money abroad with low or no fees, deposit cash at more than 88,000 locations nationwide, including free ATM withdrawals, and connect their accounts to popular payment apps such as Zelle, CashApp and Venmo. Comun's platform also allows customers to receive their paychecks up to two days early through direct deposit, further enhancing their financial flexibility and stability.

Conclusion

Comun is not just a financial services provider, but a platform dedicated to transforming the banking experience for immigrants in the U.S. With its user-focused design, commitment to financial freedom and robust features, Comun is destined to become a vital tool for achieving financial stability and growth for its users. Whether you are looking to manage your daily finances or send money to loved ones abroad quickly and securely, Comun offers a reliable, inclusive and efficient banking solution.

Foundational Moment: Did you know?

Founded by entrepreneurs Mark Selcow and Andres Santos in New York, Comun was built to empower families and enable upward mobility, particularly for the immigrant family. The company has garnered significant investment from prominent firms such as Costanoa Ventures, FJ Labs and South Park Commons, underscoring the tremendous opportunity to serve the financial needs of immigrant families and improve the lives of every individual.

1. Común: Una Cuenta Corriente¹ con una Tarjeta de Débito VISA

Una cuenta de Común viene con una tarjeta de débito VISA, que te brinda la conveniencia y seguridad de utilizar uno de los métodos de pago más aceptados a nivel mundial. Ya sea que estés comprando en línea o en una tienda física, tu tarjeta de débito VISA de Común te respalda.

2. Dinero Asegurado por la FDIC con la Garantía de Cargos No Autorizados de VISA

Tu dinero está seguro con Común. Los fondos en tu cuenta de Común están asegurados por la FDIC, lo que significa que tus depósitos están protegidos hasta $250,000 a través de Community Federal Savings Bank. Además, la garantía de VISA contra cargos no autorizados ofrece una capa adicional de seguridad, brindándote la tranquilidad de que tu dinero está protegido contra actividades fraudulentas.

3. Sin Tarifas Absurdas

Una de las características destacadas de una cuenta de Común es su estructura de tarifas: no hay tarifas absurdas. No se te cobrará una tarifa de apertura, una tarifa mensual, tarifas de saldo mínimo ni tarifas de membresía. Esto significa que más de tu dinero se queda contigo, donde pertenece, sin tarifas ocultas.

4. La Red de Depósito de Efectivo Más Grande de EE. UU.

Común cuenta con la red de depósito de efectivo más grande de los Estados Unidos. Puedes depositar efectivo en más de 88,000 ubicaciones, incluidas grandes cadenas como Walmart, Walgreens, CVS, Dollar General y 7-Eleven. Esta extensa red garantiza que puedas depositar efectivo convenientemente, sin importar dónde te encuentres.

5. Servicio al Cliente de Primera Clase

El servicio al cliente es una prioridad en Común. Tendrás acceso a un soporte de primer nivel disponible los siete días de la semana a través de chat, correo electrónico o teléfono. Ya sea que tengas preguntas o necesites ayuda, el equipo de servicio al cliente de Común está listo para ayudarte.

6. Remesas Asequibles

Enviar dinero al extranjero puede ser costoso, pero no con Común. La cuenta proporciona acceso a uno de los productos de remesas más baratos del mercado⁴, desde solo $2.99 por remesa, independientemente del país de destino o del método de recogida. Esto significa que puedes enviar dinero a tus seres queridos sin preocuparte por tarifas altas que reduzcan la cantidad que estás enviando.

7. Sácala con la documentación oficial de tu país y Tu Información Está Segura

Una de las características más inclusivas de una cuenta de Común es que puedes usar la documentación oficial de tu país para abrir una cuenta. Los solicitantes pueden aplicar con cualquier identificación oficial emitida por el gobierno, incluyendo una licencia de conducir, una credencial de elector y más².

8. Acceso Temprano a tu Cheque de Pago

Con Común, puedes acceder a tu cheque de pago hasta dos días antes sin tarifas³. Esta función puede ayudarte a gestionar tus finanzas de manera más efectiva, brindándote más flexibilidad y tranquilidad.

9. Notificaciones Instantáneas e Inicio de Sesión Seguro

Mantente informado y seguro con las notificaciones instantáneas de Común para cada transacción. Las funciones de inicio de sesión seguro, incluidas Touch ID, garantizan que solo tú tengas acceso a tu cuenta, manteniendo seguros tus fondos y tu información personal.

Una Breve Historia de las Plataformas Bancarias

Para apreciar verdaderamente los beneficios de una cuenta de Común, es útil entender cómo han evolucionado las plataformas bancarias a lo largo del tiempo.

La Evolución de la Banca

Banca Tradicional:

La banca, tal como la conocemos, comenzó con sucursales físicas donde los clientes podían gestionar sus finanzas en persona. Estos bancos ofrecían servicios esenciales como depósitos, retiros, préstamos y asesoría financiera. Los clientes tenían que visitar el banco durante el horario de atención, lo que podía ser inconveniente para muchos.

El Surgimiento de la Banca en Línea:

Internet revolucionó muchas industrias, y la banca no fue la excepción. La banca en línea surgió a finales de los años 90, permitiendo a los clientes realizar tareas bancarias básicas desde sus computadoras. Esta innovación proporcionó mayor conveniencia y accesibilidad, reduciendo la necesidad de visitar sucursales físicas.

Banca Móvil:

Con la proliferación de los teléfonos inteligentes a principios de los años 2000, la banca móvil se convirtió en el siguiente gran salto. Los bancos desarrollaron aplicaciones móviles que permitieron a los clientes gestionar sus cuentas, transferir dinero e incluso depositar cheques desde cualquier lugar y en cualquier momento. La banca móvil hizo que la gestión financiera fuera más accesible y conveniente que nunca.

Neobancos y Plataformas Solo Digitales:

La última evolución en la banca es el auge de los neobancos: plataformas solo digitales que ofrecen servicios bancarios sin sucursales físicas. Estos bancos aprovechan la tecnología para reducir los costos generales y proporcionar productos financieros innovadores y fáciles de usar. Común es un ejemplo destacado de esta nueva generación de bancos.

¿Por Qué Elegir Común?

Elegir Común significa elegir una plataforma financiera que prioriza tu bienestar financiero y seguridad. Sin tarifas innecesarias, opciones extensas de depósito de efectivo, un servicio al cliente superior y políticas inclusivas, una cuenta de Común está diseñada para satisfacer tus necesidades y superar tus expectativas. Además, el apoyo de destacadas empresas de inversión como Animo Ventures, Costanoa Ventures y FJ Labs resalta la solidez y fiabilidad del respaldo financiero de Común.

Al optar por Común, no solo obtienes una cuenta; obtienes un socio que respalda tu viaje financiero en cada paso del camino, asegurando que tus necesidades únicas sean atendidas con el mayor cuidado y atención.

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

Abrazando la Comodidad en la Banca Digital

La aplicación de Comun presenta una interfaz fácil de usar diseñada con elementos de navegación intuitivos. Los usuarios pueden acceder fácilmente a varios servicios, verificar los saldos de sus cuentas y encontrar historiales de transacciones y opciones de pago sin complicaciones. Esta simplicidad es crucial para aquellos que podrían ser nuevos en la banca digital, asegurando que incluso los usuarios más novatos puedan gestionar sus actividades financieras con confianza y eficiencia.

Conectar tu cuenta de Comun con Zelle simplifica las transacciones digitales, convirtiéndolo en una excelente opción para aquellos nuevos en la banca en línea. Esta guía no solo te explica cómo conectar estas plataformas, sino que también destaca la comodidad que ofrece Comun. Ya sea que estés pagando el alquiler, dividiendo facturas o simplemente enviando dinero a amigos, Comun y Zelle agilizan el proceso maravillosamente. Vamos a explorar cómo puedes utilizar estas funciones de manera efectiva.

1. Configuración sin Esfuerzo: Conectar Zelle con tu Cuenta de Comun
   • Descarga la aplicación de Zelle y regístrate proporcionando tu número de móvil.
   • Cuando te pidan encontrar tu banco, escribe “Comun”. Si no aparece, selecciona la opción “¿No ves tu banco?” y continúa.
   • Se te pedirá que ingreses tu correo electrónico y los detalles de tu tarjeta de débito de Comun, disponibles físicamente o dentro de la aplicación de Comun en “Gestionar tarjetas”.

Esta integración sin esfuerzo destaca el compromiso de Comun de hacer que la banca digital sea accesible y sin complicaciones para todos. Además, al utilizar los servicios de Comun o conectarse a Zelle, los clientes tienen la ventaja de recibir su sueldo hasta 2 días antes.

2. Cambio Sencillo: De Otro Banco a Comun: Si ya usas Zelle con otro banco pero prefieres la simplicidad de Comun, cambiar es fácil
   • En la aplicación de tu banco actual, desconecta tu número de teléfono de Zelle.
   • Cierra sesión en Zelle y comienza de nuevo ingresando el mismo número de teléfono o uno nuevo en la aplicación de Zelle.
   • Sigue los pasos estándar de configuración e incluye los detalles de tu tarjeta de débito de Comun en su lugar.

Esta transición está diseñada para ser lo más fluida posible, minimizando las complejidades típicamente asociadas con el cambio de plataformas financieras.

3. Resolver Problemas Comunes con Facilidad: Comun no solo simplifica la configuración, sino que también aborda posibles problemas con claridad y soporte
   • Errores de Información: Asegúrate de que todos los detalles personales coincidan entre tus cuentas de Zelle y Comun para evitar errores durante las transacciones.
   • Problemas de Activación y Bloqueo: Si tu tarjeta es rechazada, verifica que esté activada y no bloqueada. Si encuentras problemas repetidos o bloqueo de cuenta, el servicio al cliente de Comun puede guiarte a través de los pasos para resolver estos problemas rápidamente.

4. Asistencia Disponible y Soporte Proactivo:

Más allá de su diseño sencillo, Comun proporciona un sólido soporte al cliente los siete días de la semana. Ya sea que enfrentes dificultades técnicas, necesites ayuda para navegar por la aplicación o tengas preguntas sobre la vinculación con Zelle, el equipo de soporte está listo para ayudarte. Este compromiso con la atención al cliente asegura que cualquier obstáculo potencial en la gestión de tus transacciones digitales se maneje de manera rápida y eficiente.

¿Por Qué Elegir Comun? Comodidad al Alcance de tu Mano

Comun está diseñado pensando en la facilidad de uso, especialmente para aquellos que podrían ser nuevos en la banca digital¹. La plataforma se integra perfectamente con aplicaciones como Zelle, PayPal y CashApp, permitiendo diversas transacciones financieras desde una sola interfaz. La simplicidad de Comun no compromete su capacidad; te permite manejar transferencias de dinero, pagos de facturas y más con solo unos toques en tu smartphone. Además, los servicios bancarios de Comun mejoran la comodidad y los beneficios de ahorro para los clientes, particularmente cuando se trata de transferencias de dinero internacionales⁴, haciendo la gestión financiera tanto asequible como accesible.

Abre tu cuenta con comun ahora. Banca diseñada especificamente para ti.

Alcance Geográfico y Cultural

Comun atiende a una amplia audiencia en todo Estados Unidos, abordando las necesidades bancarias únicas de varias comunidades. Al ofrecer servicios que facilitan las remesas y otras transacciones financieras a través de las fronteras estatales, Comun desempeña un papel fundamental en conectar personas y economías dentro del país. Este alcance nacional destaca la capacidad de Comun para adaptarse a los diversos paisajes culturales de sus usuarios, proporcionando soluciones financieras que respetan y entienden las particularidades de diferentes comunidades. La amplia cobertura de la plataforma asegura que, ya sea que los usuarios estén enviando dinero a casa, pagando servicios o realizando transacciones comerciales, puedan hacerlo con facilidad y confianza, sabiendo que Comun respalda sus esfuerzos financieros en todo Estados Unidos.

Los clientes de Comun, en particular, se benefician significativamente de los servicios de remesas de la plataforma, ahorrando dinero en tarifas de remesas y disfrutando de transacciones financieras simplificadas adaptadas a sus necesidades.

Soporte al Cliente y Asistencia en Tiempo Real

Entendiendo la importancia crítica de un soporte oportuno, Comun proporciona un sólido servicio al cliente a través de múltiples canales, incluyendo teléfono y correo electrónico. Esto asegura que los usuarios puedan obtener ayuda cuando la necesiten, ya sea para desbloquear cuentas, solucionar problemas o entender cómo usar las diferentes funciones de la plataforma. El compromiso de Comun con la inclusividad se destaca aún más por su soporte multilingüe, ofreciendo asistencia en varios idiomas para atender a una base de clientes diversa. Este enfoque no solo ayuda a resolver problemas rápidamente, sino que también mejora la experiencia del usuario, haciendo que la estructura de soporte de Comun sea un recurso confiable para sus miembros y clientes.

Conclusión: Uniendo Simplicidad y Soporte con Comun y Zelle

En conclusión, la integración de Comun con Zelle ejemplifica cómo la banca digital puede ser tanto accesible como eficiente, haciéndola una solución ideal para cualquier persona nueva en la gestión financiera en línea o aquellos que buscan una manera más sencilla de manejar sus transacciones. Con Comun, los usuarios se benefician de una interfaz fácil de usar en sus dispositivos Android, soporte al cliente multilingüe y la seguridad de saber que pueden gestionar sus finanzas fácilmente a través de los diversos paisajes de Estados Unidos.

Ya sea que estés configurando una nueva cuenta, cambiando de otro banco o simplemente buscando una plataforma confiable para tus necesidades financieras diarias, Comun ofrece una conexión sin problemas con Zelle que mejora tu experiencia bancaria. Esta guía te ha explicado los pasos necesarios y las opciones de soporte disponibles en caso de que encuentres dificultades. Con Comun, no solo eliges un servicio de banca digital; estás adoptando una plataforma centrada en la comunidad que prioriza la conveniencia, accesibilidad y soporte integral.

Adopta la facilidad de Comun y Zelle hoy, y comienza a gestionar tus transacciones financieras con confianza y facilidad, sabiendo que un sólido sistema de soporte siempre está listo para asistirte. Con solo unos pocos toques, puedes conectarte, transaccionar y navegar por el mundo financiero desde la comodidad de tu hogar o mientras estás en movimiento, empoderado por la tecnología que hace que la banca no solo sea posible sino también agradablemente simple.

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If you need to send money to your home country from the United States, it is important to consider how long an international money transfer takes. In general, the processing time for this type of operation is usually 1 to 5 business days.

However, this depends on several factors, such as the payment system, the banks involved, the currency conversion, and the holidays in between.

That is why it is important to know the different types of international money transfers available, the advantages and disadvantages of each one, and, of course, how long they take to deliver the money to its destination.

Below, we offer you a guide to answer those questions so you can send money home as quickly and safely as possible.

What is an international money transfer and how long does it usually take?

First of all, an international transfer is the sending of money to a bank entity located outside the country of the originating account. Unlike domestic transfers, international transfers involve additional banking systems, such as the SWIFT networks, which can increase costs and processing times in many cases.

There are several factors that influence the total time an international money transfer takes, but in general, it takes 1 to 5 business days.

For example, one relevant aspect that influences this is the system used, whether SWIFT or SEPA, which have different conditions and characteristics.

SWIFT Transfers

The SWIFT system is the largest network: it connects thousands of traditional banks worldwide to send money from one country to another through secure mechanisms.

Characteristics of the SWIFT system

• In general, it takes 3 to 5 days to complete money transfers.

• The involvement of intermediary banks is common, which can generate additional fees.

• It is useful for sending money in different currencies, although it implies disadvantages in time and costs.

• To use this system, check the SWIFT code of the receiving bank.

SEPA Transfer

On the other hand, the SEPA system is focused on international money transfers within the European Union.

Characteristics of the SEPA system

• International money transfers are usually completed in 1 business day.

• Fees are more affordable compared to the SWIFT system.

• This system works exclusively in the SEPA area, and for transactions in euros.

As you can see, both the SWIFT and SEPA systems are useful for making international money transfers safely. Although for those living in the United States, the latter is not recommended due to its geographic limitations.

Here is a comparison table:

Factors that influence the time of an international money transfer

The time an international money transfer takes is not fixed. It varies according to the type of transfer and other elements involved in the operation.

Here is what you need to know to estimate how long it will take for your money to reach your loved ones.

Payment system

So far, we have presented the SWIFT system, which takes 3 to 5 business days, and SEPA, which is generally reflected the next business day.

In addition, there are ACH (Automated Clearing House) transfers, which are a more common system in the U.S., characterized by being a more economical option, although the process usually takes 2 to 3 business days.

Intermediary banks

There are cases in which the financial institutions participating in an international money transfer do not have a direct relationship with each other, so they need to involve intermediary banks. This, in addition to increasing costs, lengthens transfer times, because it makes the operation take longer than usual.

Cut-off times and business days

Another essential aspect is the cut-off time banks have for executing transactions. If you send money after this time, the operation is processed the next business day.

Also, do not forget to take into account the holidays of both the sending country and the receiving country, which also extend the waiting time.

Currency conversion and destination country

When sending money from the United States to your home country in Latin America, the bank will need to make the corresponding currency exchange and apply an exchange rate. This also usually adds time to the international money transfer process.

Security verifications and compliance controls

Banks often carry out security checks to prevent money laundering and fraud, especially when large amounts are involved.

What information do you need to make an international money transfer?

You are almost ready to start sending money abroad. But first, it is very important that you make sure you have the necessary information to process this type of transfer. Otherwise, the transfer could be rejected or take longer than usual.

Sender’s information

You will need to provide your basic personal information: full name, bank account, official address, and phone number.

Beneficiary’s information

It is also essential to provide the details of the person who will receive the money: full name, recipient’s account number, address, and country of origin.

Bank codes

• IBAN: for transfers within the European Union.

• SWIFT/BIC code: for transfers in most of the world, including the United States.

Amount and currency

Indicate the amount of the transfer and the currency in which it will be received.

Purpose or payment reference

Finally, indicate the purpose of the transfer. It may be: maintenance payment, family support, family savings, etc.

How can you speed up an international money transfer?

We know that sending money to your family and loved ones is very important, which is why it is vital that you avoid mistakes and bad practices that could delay your transfers even more.

• Verify that the beneficiary’s details are complete and correct: check that your recipient’s details are written as they appear on their official identification.

• Make the transfer before the bank’s cut-off time: remember that doing it after this time causes the transfer to be processed the next business day.

• Avoid sending money on weekends or holidays: try to send money on business days to avoid delays.

• Consider using specialized remittance services with faster processes: there are alternative services that offer better conditions than traditional banks.

Make your international money transfers quickly and safely with Común

This time, we learned that international transfers are money transfers made from one country to another, and there are several factors involved in the time they take to be completed.

Are you looking for a way to send money home without complications?

Discover Común, the digital platform that connects you with your family through a service that understands your needs.

Make your first international money transfer, forget about hidden fees, and get transparent rate so your loved ones receive more for less.

Frequently Asked Questions (FAQ)

If you still have questions, check our FAQ.

What is the average time of an international money transfer?

Approximately 1 to 5 business days.

Why do some transfers take longer than usual?

It depends on the system used, the involvement of intermediaries, the currency exchange, and other factors. That is why you should make sure to check the estimated time before sending your money, to see if it fits your timing and needs.

Can I send money on weekends?

Yes, but it will be processed the next business day in most cases.

¿Qué es la Red de Pagos en Tiempo Real (RTP)?

La red de Pagos en Tiempo Real (RTP) es una infraestructura financiera avanzada diseñada para facilitar las transferencias de dinero instantáneas en tiempo real. Introducida por The Clearing House en 2017, la red RTP permite la transferencia inmediata de fondos entre instituciones financieras participantes. Este sistema opera las 24 horas del día, los 365 días del año, lo que garantiza que las transacciones puedan realizarse en cualquier momento, incluidos fines de semana y días festivos.

Las características clave de la red RTP incluyen:

• Disponibilidad Inmediata de Fondos: Los fondos están disponibles para el destinatario en segundos después de iniciar la transacción.
• Comunicación Mejorada: El sistema RTP admite mensajería detallada, lo que permite a los remitentes y destinatarios intercambiar información sobre el pago.
• Mayor Seguridad: Las medidas avanzadas de cifrado y autenticación ayudan a proteger las transacciones contra fraudes.

Características Clave de la Red RTP

• Velocidad: Las transacciones se completan en segundos, proporcionando disponibilidad inmediata de fondos al destinatario.
• Seguridad: La red RTP emplea protocolos avanzados de cifrado y autenticación para garantizar la seguridad de las transacciones.
• Transparencia: Las actualizaciones y confirmaciones en tiempo real permiten que ambas partes sigan el estado de sus pagos al instante.
• Interoperabilidad: La red RTP está diseñada para funcionar sin problemas con varias instituciones financieras, lo que permite una amplia compatibilidad y adopción.

La red RTP está diseñada para admitir una variedad de tipos de pago, incluidos los pagos de persona a persona (P2P), de empresa a empresa (B2B) y de empresa a consumidor (B2C), lo que la convierte en una herramienta versátil para las operaciones financieras modernas.

¿Cómo Funcionan los Pagos en Tiempo Real?

Los pagos en tiempo real revolucionan la experiencia bancaria tradicional al permitir transferencias de dinero instantáneas. Esta eficiencia es posible gracias a la tecnología avanzada y los protocolos de comunicación seguros. A continuación, se presenta un análisis detallado de cómo funcionan los pagos en tiempo real.

El Proceso de los Pagos en Tiempo Real

La mecánica de los pagos en tiempo real implica varios pasos clave, que garantizan tanto la velocidad como la seguridad:

Iniciación del Pago

• El remitente inicia un servicio de pago a través de la plataforma en línea de su banco o una aplicación móvil.
• Se ingresan detalles esenciales como la información de la cuenta del destinatario, el monto y el propósito del pago.

Validación y Autenticación

• El banco del remitente valida los detalles del pago y autentica la identidad del remitente.
• La verificación incluye comprobar que haya fondos suficientes en la cuenta del remitente para cubrir la transacción.

Transmisión del Pago

• Una vez validado, el pago se transmite a través de la red RTP.
• La red RTP facilita el intercambio de datos en tiempo real entre los bancos del remitente y del destinatario.

Procesamiento del Banco Receptor

• El banco receptor recibe las instrucciones de pago y verifica su autenticidad.
• Luego, el banco receptor acredita la cuenta del destinatario con el monto especificado.

Confirmación en Tiempo Real

• Tanto el remitente como el destinatario reciben notificaciones en tiempo real que confirman la transacción exitosa.
• Esta transparencia asegura que ambas partes estén al tanto del estado del pago de inmediato.

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Infraestructura Técnica Detrás de los Pagos en Tiempo Real

El funcionamiento fluido de los pagos en tiempo real depende de una infraestructura técnica robusta. Los componentes clave incluyen:

• Pasarelas de Pago: Facilitan la transferencia de datos de pago entre los bancos y la red RTP.
• APIs (Interfaces de Programación de Aplicaciones): Permiten que los bancos integren sus sistemas con la red RTP, asegurando una comunicación y procesamiento de transacciones sin problemas.
• Protocolos de Cifrado: Protegen los datos de la transacción durante la transmisión, evitando el acceso no autorizado.
• Sistemas de Detección de Fraude: Algoritmos avanzados y modelos de aprendizaje automático monitorean las transacciones en tiempo real para detectar y prevenir actividades fraudulentas.

Medidas de Seguridad en los Pagos en Tiempo Real

Garantizar la seguridad de los pagos en tiempo real es fundamental. Se implementan varias capas de seguridad para proteger las transacciones:

• Autenticación Multifactor (MFA): Se requiere que los usuarios verifiquen su identidad mediante varios métodos de autenticación, como contraseñas, datos biométricos o códigos de un solo uso.
• Cifrado: Todos los datos de las transacciones se cifran durante la transmisión para evitar la interceptación y el acceso no autorizado.
• Tokenización: La información sensible, como los números de cuenta, se reemplaza con tokens únicos que solo pueden ser interpretados por partes autorizadas.
• Monitoreo Continuo: Las transacciones se monitorean continuamente en tiempo real para detectar cualquier patrón inusual que pueda indicar actividad fraudulenta.

Ejemplos de Casos de Uso de Pagos en Tiempo Real

Los pagos en tiempo real se utilizan en diversos escenarios, mejorando la eficiencia de las transacciones financieras en diferentes sectores:

• Transferencias de Persona a Persona (P2P): Amigos y familiares pueden enviarse dinero al instante, independientemente del banco que utilicen.
• Pagos de Empresa a Empresa (B2B): Las empresas pueden pagar a proveedores y socios de inmediato, mejorando la gestión del flujo de caja y las operaciones comerciales.
• Pagos de Empresa a Consumidor (B2C): Las empresas pueden pagar a empleados, contratistas o proveedores de servicios al instante, asegurando una compensación oportuna.
• Transacciones de Comercio Electrónico: Los minoristas en línea pueden recibir pagos al instante, lo que permite un procesamiento y envío de pedidos más rápido.

Ventajas de los Pagos en Tiempo Real

Los beneficios de los pagos en tiempo real son multifacéticos y ofrecen ventajas significativas sobre los métodos de pago tradicionales:

• Velocidad: Las transacciones instantáneas eliminan los períodos de espera para que los fondos estén disponibles.
• Conveniencia: Las transacciones se pueden realizar en cualquier momento, desde cualquier lugar, sin las restricciones de los horarios bancarios.
• Eficiencia: Simplifica las operaciones financieras tanto para individuos como para empresas, reduciendo el tiempo y el esfuerzo necesarios para procesar pagos.
• Transparencia: Las notificaciones y confirmaciones inmediatas mantienen a todas las partes informadas en tiempo real.

Los pagos en tiempo real representan un avance significativo en la industria financiera, ofreciendo una forma fluida, segura y eficiente de transferir fondos. A medida que la adopción de los sistemas de pago en tiempo real continúa creciendo, los beneficios serán cada vez más generalizados, transformando la forma en que manejamos las transacciones financieras.

RTP vs. Otros Tipos de Pago

Los pagos en tiempo real (RTP) ofrecen una ventaja distintiva sobre los métodos de pago tradicionales al proporcionar un procesamiento de transacciones inmediato y disponibilidad de fondos. Para comprender el alcance completo de los beneficios de los RTP, es útil compararlos con otros tipos de pago comunes: transferencias de la Cámara de Compensación Automatizada (ACH) y Pagos Inmediatos.

RTP vs. ACH

Las transferencias de la Cámara de Compensación Automatizada (ACH) han sido un pilar en las transacciones financieras durante décadas. Sin embargo, los RTP ofrecen varias mejoras que los convierten en una opción superior en muchos escenarios. Aquí hay una comparación:

• Velocidad:
  • RTP: Las transacciones se procesan al instante, con fondos disponibles para el destinatario en segundos.
  • ACH: Las transacciones generalmente tardan de uno a tres días hábiles en liquidarse, ya que se procesan en lotes.
• Disponibilidad:
  • RTP: Opera las 24 horas del día, los 365 días del año, lo que permite realizar transacciones en cualquier momento, incluidos fines de semana y días festivos.
  • ACH: Limitado a días y horas hábiles, sin procesamiento los fines de semana ni días festivos.
• Costo:
  • RTP: Aunque los costos pueden variar, las transacciones RTP suelen tener tarifas competitivas, que pueden ser más bajas que las de los servicios ACH acelerados.
  • ACH: Generalmente son de menor costo para transacciones estándar, pero las transferencias ACH aceleradas pueden incurrir en tarifas más altas.
• Transparencia:
  • RTP: Proporciona confirmaciones de transacciones en tiempo real y capacidades de mensajería detalladas, mejorando la transparencia.
  • ACH: Las notificaciones suelen retrasarse, y los mensajes detallados de transacciones no son tan sólidos.
• Casos de Uso:
  • RTP: Ideal para pagos urgentes, transferencias entre personas (P2P) y transacciones comerciales que requieren disponibilidad inmediata de fondos.
  • ACH: Adecuado para nóminas regulares, pagos de facturas y transacciones en masa donde la disponibilidad inmediata no es crítica.

RTP vs. Pagos Inmediatos

Los pagos inmediatos, como los facilitados por redes de tarjetas de crédito o ciertos servicios de pago digital, también ofrecen tiempos de procesamiento rápidos. Así es como se comparan con RTP:

• Tiempo de Procesamiento:
  • RTP: Las transacciones se liquidan al instante, proporcionando disponibilidad inmediata de fondos.
  • Pagos Inmediatos: A menudo se procesan en segundos o minutos, pero los tiempos de liquidación pueden variar según el proveedor de servicios.
• Costo:
  • RTP: Generalmente más rentable, especialmente para transacciones de alto valor, ya que las tarifas suelen ser más bajas en comparación con las tarifas de procesamiento de tarjetas de crédito.
  • Pagos Inmediatos: Las transacciones con tarjeta de crédito pueden incurrir en tarifas más altas debido a los cargos de procesamiento y tarifas de intercambio.
• Seguridad:
  • RTP: Emplea cifrado avanzado, autenticación multifactor y monitoreo continuo para la detección de fraudes.
  • Pagos Inmediatos: Las medidas de seguridad varían según el proveedor, pero generalmente incluyen cifrado y monitoreo de fraudes.
• Uso:
  • RTP: Se utiliza para una amplia gama de transacciones, incluidas las transferencias P2P, pagos B2B y B2C.
  • Pagos Inmediatos: Comúnmente utilizados para transacciones de consumo, compras en línea y pagos de pequeñas empresas.
• Disponibilidad:
  • RTP: Siempre disponible, independientemente de la hora o el día.
  • Pagos Inmediatos: La disponibilidad depende del proveedor de servicios, pero muchos ofrecen procesamiento casi instantáneo.

Al comprender estas comparaciones, queda claro que los RTP aportan un nivel de eficiencia, conveniencia y seguridad que los métodos de pago tradicionales no pueden igualar. Como resultado, los RTP están ganando popularidad tanto para transacciones financieras personales como comerciales.

Aprende mas sobre los diferentes tipos de transferencias bancarias

Aplicaciones de Transferencia Instantánea

Además de los canales bancarios tradicionales, las aplicaciones de transferencia instantánea han surgido como herramientas populares para facilitar las transferencias de dinero en tiempo real. Estas aplicaciones aprovechan la red de Pagos en Tiempo Real (RTP) y otras tecnologías de pago en tiempo real para proporcionar a los usuarios formas rápidas y convenientes de enviar y recibir fondos. Exploremos algunas de las aplicaciones de transferencia instantánea más utilizadas y cómo funcionan.

Aplicaciones de Transferencia Instantánea Populares

• Venmo: Una aplicación ampliamente utilizada que permite a los usuarios enviar y recibir dinero con amigos y familiares, con una interfaz similar a las redes sociales para mayor conveniencia.
• Zelle: Integrada con los principales bancos, Zelle ofrece transferencias directas de banco a banco, lo que la hace conveniente para los usuarios con cuentas en instituciones financieras participantes.
• Común App: Común es una recién llegada al mercado de aplicaciones de transferencia instantánea, ganando atención por su interfaz fácil de usar y su enfoque en servicios financieros impulsados por la comunidad inmigrante. Con Común, los usuarios pueden enviar dinero al instante a amigos, familiares y negocios, mientras acceden a una gama de funciones diseñadas para empoderar financieramente a las comunidades.

Estas aplicaciones han hecho que las transferencias instantáneas sean accesibles a un público más amplio, simplificando el proceso de enviar y recibir dinero.

Conclusión

Las transferencias de dinero en tiempo real, facilitadas por la red RTP y aplicaciones de transferencia instantánea como Venmo, Zelle y Común, ofrecen una velocidad, conveniencia y seguridad incomparables en las transacciones financieras. Con la disponibilidad inmediata de fondos, operación las 24 horas del día y interfaces fáciles de usar, estas tecnologías están transformando la forma en que gestionamos nuestras finanzas. Adoptar las transferencias en tiempo real abre nuevas posibilidades para interacciones financieras eficientes e inclusivas, empoderando a individuos y empresas en todo el mundo.

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