Earning extra money fast in the U.S. is possible through survey apps, flexible freelance work, or referrals. With Común's referral program, you earn a cash reward for every person you invite who opens an account.

How can I earn extra money fast?

Paid survey apps, flexible freelance work (driving, deliveries, task apps), and financial app referral programs are common ways to generate extra income without a full-time job.

How does Común's referral program work?

Invite someone with your unique link from the app's home screen. When that person opens a full debit account and completes their first qualifying outflow, you both receive a cash reward — credited to your account within 5 days.

How much can I earn by referring people?

The reward amount can vary based on the current promotion; check the active terms inside the referral section of the app.

Frequently asked questions

Do I need to do anything special to join Común's referral program?

Just share your unique link from the referral button on the app's home screen — referrals outside that link don't qualify.

When do I get my reward for referring someone?

Within 5 calendar days after your referral completes a First Qualifying Outflow.

Is there a limit to how many people I can refer?

The current terms and conditions detail the limits; check them in the app before sharing broadly.

What happens if my referral doesn't complete the process?

The reward is only credited if the referral opens the account, gets approved, and completes a First Qualifying Outflow.

Can I refer myself with another account?

No, self-referral and fraudulent or abusive activity aren't eligible for rewards.

What other quick ways exist to generate income besides referrals?

Paid survey apps and flexible freelance work are other common options, though they typically generate less than a primary income.

What is Venmo and how does it work? 2026 guide to understanding how Venmo works in the United States

Venmo is a digital payment app in the United States that allows people to send and receive money quickly from their phones. The platform works as a peer-to-peer (P2P) payment service, meaning users can transfer money to friends, family members, or other contacts using a linked bank account, debit card, or available balance within the app.

Over the last several years, Venmo has become one of the most widely recognized payment apps for splitting bills, paying rent, reimbursing friends, and handling everyday payments in the U.S.

What Is Venmo?

Venmo is a digital payment app for quick transfers between people who know each other. It is commonly used to split a restaurant bill, to pay rent between roommates or even for sharing costs for trips or events. Venmo operates within the United States and requires compatible payment methods such as U.S. bank accounts or debit cards.

Verified users can send up to $60,000 per week. Transfer limits vary based on account verification status and may change over time.

How does Venmo work?

To start using Venmo, users first need to download the mobile app on iPhone or Android and create an account using an email address or U.S. phone number. After setting up the account, users can connect a payment method such as: a U.S. bank account, a debit card, a credit card, or an existing Venmo balance.

Once the account is ready, users can search for another person on Venmo using their name, username, phone number, or QR code. From there, they can either send money or request a payment.

Venmo fees — Cost table

Venmo fees can change over time. Always review the latest information directly on Venmo's official website.

Is Venmo available in Spanish?

Venmo is not available in Spanish; the app operates entirely in English. However, you can make the app display in Spanish by changing your smartphone's system language. Venmo does not offer customer service in Spanish.

Can I use Venmo as an immigrant?

Venmo requires a U.S. bank account or debit card to work. If you do not have access to traditional banking services, it may be difficult to get started. Also, Venmo does not allow international remittances, so if you need to send money to family in Latin America, you will need a different service.

Venmo vs. Común — Direct comparison

When does it make sense to use Venmo?

Venmo may be useful if: your friends and family already use Venmo, you mainly need fast domestic payments in the U.S., and you have a linked U.S. bank account.

FAQ

Is Venmo available in Spanish?

No. Venmo operates entirely in English without Spanish customer support.

Can I send money to Mexico with Venmo?

No. Venmo only supports domestic transfers within the U.S.

How much does Venmo charge?

Standard bank transfers have no additional fee. Instant transfers carry a 1.75% fee. Credit card payments may have a 3% fee.

Is Venmo safe?

Venmo uses encryption and identity verification. However, like any P2P app, transactions are difficult to reverse once completed.

Común is a financial technology company and not a bank. Banking services are provided by Community Federal Savings Bank, Member FDIC. Peer-to-peer payments services are provided by Cross River Bank.

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For immigrants living in the United States, having accessible financial services that allow them to send money to Mexico and other countries in the region is of utmost importance; this is to financially support family and friends or achieve a better standard of living. Remittances have acquired such importance in the Mexican economy that, according to Reuters data, Mexico is the second-largest recipient of remittances worldwide, only after India, with more than 64.7 billion USD during 2024. It is fundamental for immigrants to know how to send money to Mexico from the United States securely, quickly, and at a low cost. 

On this occasion, we will show you the best applications for transferring money to your loved ones, how they work, and all the benefits of each of them so you can choose the option that best suits your needs.

How much money can I send to Mexico?

A very important aspect you should consider is the amount allowed by applications for sending money to Mexico, as well as the restrictions in their terms and conditions. 

In general, there is no legal limit imposed by the United States government, but each platform has its own standards and regulations on which they base certain limits and guidelines necessary for international money transfers.

For example, these are some of the best-known providers that offer money transfers to Mexico, with their respective limits:

• Western Union: up to 5,000 USD per transaction via the website 
• MoneyGram: up to 10,000 USD per transaction 
• Xoom: up to 10,000 USD per transaction

If you are looking for an easy way to send money to Mexico, Comun is an excellent alternative for you. You can enjoy your first money transfer for free, and then for a fee starting at 2.99 USD per transfer up to the applicable limits.

Additionally, your recipient can receive more for less due to highly competitive exchange rates compared to other similar applications.

Compare and choose the most convenient option to send money.

What's the best way to send money from the United States to Mexico?

There are several ways to send money from the United States to Mexico, either through traditional banks or specialized international money transfer services. 

These are the simplest ways to do it:

Through bank-to-bank money transfers 

One of the most common ways to send money is through bank transfers from one traditional bank to another. The advantage of this method is that it is safe, as it has the backing of official financial institutions. However, they also tend to take longer and generate more fees. 

To send funds through this method, it is essential to have a U.S. bank account and use the recipient's SWIFT code. The cost of the money transfer depends on the receiving bank, in this case, located in Mexico. 

For example, BBVA charges 30 USD plus VAT per transfer, Santander between 15 and 20 USD plus VAT, and Citi Banamex 20 USD plus VAT, all regardless of the amount sent. 

Through cash remittances 

Another option, which might be more accessible for users without a bank account, is cash remittances that can be collected at different points in Mexico. To send money in cash, it is necessary to go to a provider that offers this type of service, for example, a Western Union office. Once there, you must pay the amount to be sent, plus the fee assigned to the amount. 

For your relatives to collect the funds from this transaction, they must present an official identification at one of the selected branches, which can be Oxxo, Banco Azteca, Walmart, or others. Although it is an excellent alternative for people who base their finances on cash handling, it may have certain disadvantages, such as high fees that depend on the amount sent, as well as a less competitive exchange rate. 

Through mobile application

The third option for sending money to Mexico is through a mobile application specialized in international money transfers. There are many alternatives compatible with iOS and Android, and, in general, they are more economical than cash remittances or bank transfers. 

To access these types of transfers, it is necessary to create an account on the provider's website or application. Additionally, some require identity verification through personal data such as the SSN (Social Security Number) or ITIN. 

Before choosing an application to send money to Mexico, we recommend comparing the best-known options and evaluating which one best suits your needs and those of your family members.

The 6 best mobile applications for sending money to Mexico from the United States

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Comun

Comun is a convenient option for immigrant workers in the United States, as it is specially designed to understand their needs. Comun offers a promotional fee-free first transfer and then a fee starting at 2.99 USD per transfer up to the applicable limits.

Additionally, you can access different payment methods and a very competitive exchange rate, so your family receives more for less at over 100,000 pickup locations. 

Your Comun account gives you access to a mobile application and a debit card. Furthermore, your money transfers are applied in a matter of minutes.

Remitly

Remitly is an app that allows international money transfers. It is easy to use and offers various payment methods, such as debit or credit card or bank account. The sending time depends on the type of fee selected, either express, which is instant, or standard, which takes up to 5 business days. 

It also offers a competitive exchange rate.

BOSS Revolution

BOSS Revolution is an easy and accessible money sending alternative. It has a limit of 2,999 USD, so it is geared towards small transactions. It accepts bank card and cash as payment methods, and money transfers are completed in minutes.

WorldRemit

WorldRemit is another alternative for easily sending money to Mexico. It offers a wide variety of payment methods, such as bank account transfers, cash pickup, and recharges. It has fees starting from 1.99 USD, but the exchange rate includes a margin of 1% to 2%, which affects the total amount to be received.

Western Union

Western Union is one of the most popular services for international money transfers. It has wide coverage, which facilitates access for people living in rural or remote areas. It allows sending money from banks, application, and website, and the money can be received in cash or in a bank account. The disadvantage is that fees are usually higher than other alternatives, and the exchange rate is less competitive with respect to the market, which affects the total amount to be received.

Félix Pago

Félix Pago is an innovative option that allows low-cost money transfers vía WhatsApp. It is a good option for small money deposits, although it does not offer functionalities such as account opening and a debit card, which could represent an obstacle for users seeking more complete alternatives.

How to send money to Mexico with Comun?

With Comun's international transfers, also known as Remittances, you can send money abroad to your family and friends from your Comun mobile application at a low cost and without leaving your home.

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To make a transfer to Mexico, follow these steps: 

1. Enter your Comun mobile application. 
2. On the main page, select "Send a Remittance." 
3. Select the recipient to whom you wish to send the international transfer. 
4. You can register a recipient with their bank details, such as their full name, bank name, and cell phone number. 
5. After registering the recipient, enter the amount you wish to send and review the transaction costs. 
6. Confirm the data and select "confirm international transfer." 
7. The recipient should receive the international money within minutes. 
8. If you selected in-store pickup, the person can go to the store to pick up the money 30 minutes after confirming the transaction. 
9. You can check the status of the international transfer in your Comun mobile app by clicking on the movement.

You can send money to Mexico for a fee starting at $2.99 per transaction, up to the applicable limits.

Blog

Send money to Mexico easily and securely with a reliable mobile app

As you can see, sending money to Mexico has never been easier or more accessible. There are several remittance services that offer different competitive advantages, so it is convenient to compare fees, exchange rates, sending limits, among other features. The option indicated for you is a safe and fast alternative that speaks your language. 

Comun allows you to open an account with your country's official documentation and send money home. Open your account today, send money to Latin American countries, and discover the most accessible side of finances.

Disclosures (in footer)

“Comun is a financial technology company and not a bank. Banking services are provided by Community Federal Savings Bank; Member FDIC. The Comun Visa® Debit Card is issued by Community Federal Savings Bank, pursuant to a license from Visa U.S.A Inc. and may be used everywhere Visa Cards are accepted.”

“Funds in your account are FDIC insured up to $250,000 by ownership category through Community Federal Savings Bank (CFSB), Member FDIC, in the event CFSB fails.”

“A service provided by Service UniTeller, Inc. Service UniTeller, Inc. is licensed in all states that require a license.”

“Remittance fees start at $2.99 but may vary. Please check the app for more details.”

“Comun Inc. may earn revenue from the conversion of foreign currencies.”

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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

ComunComun 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

ComunComun 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.

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

ComunComun 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

ComunComun 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.

What Today's Banking Customers Want

Today's banking consumers are no longer satisfied with just basic financial transactions. They want seamless digital experiences, personalized services, and round-the-clock accessibility. With the spread of smartphones and internet connectivity, customers expect banking services to be available at their fingertips, anytime and anywhere. They also demand transparency, security, and efficiency in every interaction with their financial institutions.

Understanding and meeting these changing needs is crucial for banks to attract and retain new customers in an increasingly competitive landscape.

Better Experiences Are Essential for Deposit Growth and Customer Loyalty

In an era where switching banks is easier than ever, delivering a superior customer experience has become essential for deposit growth and maintaining customer loyalty. Banks that prioritize user-friendly interfaces, intuitive mobile apps, and responsive customer support are more likely to succeed in building solutions integrated with customer data. Beyond the transactional aspect, customers value proactive financial advice, personalized product recommendations, and tailored communication.

By investing in emerging technologies that improve customer experiences, many banks can build stronger relationships with their customers and position themselves as trusted financial organizations for the long term.

Technological and Industry Shifts

In banking, the traditional advantages that once set institutions apart are gradually eroding. With the rise of fintech startups and tech giants entering the financial services space, banks face unprecedented competition. Legacy systems and processes that used to be barriers to entry are now being disrupted by innovative technologies and agile business models.

Banking Designed for Your Life in the USA

Open your bank account¹ in 3 minutes with your country's ID²

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Banking Is Losing Its Traditional Advantages

Historically, banks held monopolies on financial services due to their physical presence, regulatory barriers, and established customer trust. However, the arrival of digital banking and the spread of online-only banks have challenged this status quo. Traditional advantages like branch networks and long-standing reputations are no longer as significant in a digital era where convenience and efficiency come first.

Technological Advances Shaping the Banking Industry

Technological advances are driving profound change in the banking industry, redefining how financial services are delivered and consumed. From artificial intelligence (AI) and machine learning to blockchain and cloud computing, banks are leveraging cutting-edge technologies to streamline operations, improve security, and improve customer experiences.

AI and Data Advances Accelerating Transformation Possibilities

AI and data analytics are revolutionizing banking by letting institutions gain deeper insight into customer behavior, automate repetitive tasks, and personalize offers at scale. Chatbots powered by natural language processing (NLP) provide instant customer support, while predictive analytics algorithms help identify trends and proactively mitigate risk.

Seamless Technology and Platform Integration Is a Top Priority

Seamless technology and platform integration is essential for banks to deliver cohesive, omnichannel experiences to their customers. Whether through mobile banking apps, online banking portals, or in-branch interactions, customers expect consistent, intuitive interfaces that smoothly meet their financial needs across various touchpoints.

[Video embed — keep as-is: https://www.youtube.com/watch?v=V4FKKe5Zs2A]

Embracing Responsible AI (GenAI)

As banks adopt AI and automation, it's crucial to do so responsibly, considering ethical implications and potential biases. Responsible AI, often called GenAI, involves ensuring fairness, transparency, and accountability in AI-driven decision-making processes. By adopting ethical AI frameworks and governance principles, banks can build trust with customers and mitigate risks associated with AI deployment.

Innovations in AI and data analysis are driving transformative possibilities, while seamless technology and platform integration is now a top priority. Banks must also embrace responsible Generative AI (GenAI) to stay ahead.

Banking as a Service (BaaS)

As traditional banking models evolve, Banking as a Service (BaaS) is emerging as a key trend reshaping the financial landscape. This section explores the key aspects of BaaS, from emerging industry trends to competitive arenas and business models, offering insight into the future of banking.

Emerging Trends in the BaaS Banking Industry

• Collaboration Over Competition: Traditional banks are increasingly partnering with fintech startups and third-party providers to offer specialized financial services. This collaborative approach lets banks leverage innovative technologies and expand their service offerings without needing extensive infrastructure investment.
• API-Driven Ecosystems: Application Programming Interfaces (APIs) play a central role in BaaS, enabling seamless integration of banking services into third-party apps and platforms. Open banking initiatives around the world are driving the adoption of standardized APIs, fostering a more interconnected financial ecosystem.
• Platformization of Banking: Banking services are shifting from product-centric models to platform-centric models, where banks act as enablers of financial transactions rather than just service providers. Platforms offer a diverse range of financial products and services curated from multiple providers, giving customers greater choice and flexibility.

Competitive Arenas and Emerging Business Models in Banking

• Digital Challenger Banks: Digital-only banks, or challenger banks, are disrupting the traditional banking landscape with their agile operations, innovative products, and customer-first approach. These agile startups leverage technology to deliver superior user experiences and challenge incumbents in key market segments. Such is the case with the Común app, which offers financial services for immigrants living in the U.S.
• Embedded Finance: Embedded finance refers to integrating financial services into non-financial apps, like e-commerce platforms, ride-share apps, and social networks. By embedding banking functionality directly into everyday activities, financial transactions become seamless and frictionless for users.

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A Look at the Bigger Picture: Everyday Banking

• Mobile-First Solutions: Everyday banking is increasingly mobile-centric, with customers preferring the convenience of managing their finances on the go. Mobile banking apps offer a wide range of features, including account management, bill payments, peer-to-peer transfers, and financial insights, meeting customers' diverse needs.
• Personalization and Predictive Analytics: Banks are leveraging data analytics and AI algorithms to personalize their offerings and anticipate customer needs. By analyzing transactional data and behavioral patterns, banks can deliver personalized product recommendations, tailored financial advice, and proactive alerts, improving customer engagement and satisfaction.

Discover the Future of Banking: Embrace BaaS Innovations Today for Financial Evolution and Empowerment

• Enhanced Customer Experiences: BaaS lets banks deliver enhanced customer experiences by leveraging innovative technologies and partnerships. From frictionless onboarding experiences to personalized financial solutions, BaaS empowers customers to reach their financial goals more effectively.
• Financial Inclusion and Accessibility: BaaS has the potential to drive financial inclusion by extending banking services to underserved and unbanked populations. Through partnerships with fintechs and leveraging digital channels, banks can reach previously inaccessible markets and provide essential financial services to those who need them.
• Agility and Innovation: Embracing BaaS lets banks innovate quickly and adapt to changing market dynamics. By leveraging outside expertise and resources, banks can accelerate the development and rollout of new products and services, stay ahead of the competition, and meet changing customer expectations.

Everyday banking remains the biggest arena, and the future of banking will see financial evolution and empowerment through BaaS innovations.

Regulatory and Compliance Considerations

This section explores the imperative nature of investing in regulatory compliance, the importance of anticipating regulatory action, and the impact of regulatory developments on BaaS. It also discusses predictions for the future of BaaS in light of these regulatory considerations.

Investing in Regulatory Compliance Is Imperative

• Compliance Frameworks: Banks and BaaS providers must establish robust compliance frameworks to adhere to regulatory requirements and industry standards. This includes implementing Know Your Customer (KYC) procedures, anti-money laundering (AML) measures, and data protection protocols to safeguard customer information and mitigate financial risks.
• Risk Management: Investing in risk management practices is essential to navigate regulatory complexities and protect against potential threats. By conducting regular risk assessments and implementing risk mitigation strategies, banks can ensure regulatory compliance while maintaining operational resilience.

Anticipating Regulatory Action

• Proactive Compliance Measures: Anticipating regulatory action lets banks stay ahead of compliance requirements and mitigate regulatory risks effectively. By closely monitoring regulatory developments, engaging with regulatory authorities, and participating in industry forums, banks can proactively address emerging regulatory challenges and adapt their compliance strategies accordingly.
• Regulatory Engagement: Establishing open communication channels with regulatory authorities fosters collaboration and transparency, letting banks address regulatory concerns and seek guidance on compliance matters. By actively engaging with regulators, banks can demonstrate their commitment to regulatory compliance and build trust within the regulatory community.

Regulatory Developments Impacting BaaS

• Global Regulatory Landscape: Regulatory developments, like open banking initiatives and data protection regulations, have a significant impact on the BaaS ecosystem. Financial service providers must stay on top of regulatory changes across different jurisdictions and adapt their operations accordingly to ensure compliance with local laws and regulations.
• Compliance Challenges: Regulatory requirements related to data privacy, cybersecurity, and consumer protection pose significant challenges for BaaS providers. Meeting complex regulatory frameworks requires substantial investment in resources and expertise, demanding a proactive approach to effectively address regulatory concerns.

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Predictions for the Future of BaaS

• Regulatory Evolution: The future of BaaS is expected to be shaped by ongoing regulatory evolution, with regulators adapting existing frameworks to address emerging risks and challenges. Predictions suggest regulators will focus on improving consumer protection, promoting market competition, and fostering innovation within the BaaS ecosystem.
• Regulatory Harmonization: As the BaaS landscape continues to evolve, there's a growing need for regulatory harmonization across different jurisdictions to facilitate cross-border operations and ensure a level playing field for market participants. Predictions indicate regulators will collaborate to standardize regulatory requirements and promote interoperability within the BaaS ecosystem.
• Compliance Innovation: Innovations in regulatory technology (RegTech) are expected to play a significant role in driving compliance innovation within the BaaS industry. Predictions suggest BaaS providers will leverage RegTech solutions to automate compliance processes, improve regulatory reporting capabilities, and enhance overall regulatory efficiency.

Investing in regulatory compliance is crucial, since regulatory actions and developments significantly impact BaaS. Predicting future regulatory landscapes helps institutions stay prepared and compliant.

Conclusion

The future of banking services is marked by technological innovation, shifting customer preferences, and evolving regulations. Banking as a Service (BaaS) is reshaping the industry, offering new avenues for collaboration and innovation. Embracing BaaS today unlocks new opportunities to improve customer experiences and drive economic growth.

Regulatory compliance is crucial. Banks must invest in compliance frameworks and anticipate regulatory changes to mitigate risks effectively. Looking ahead, success in banking will depend on agility, innovation, and customer focus. By staying on top of trends, leveraging technology, and prioritizing compliance, banks can thrive in the digital era.

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One of the main challenges immigrants face in the U.S. is formalizing a lease, since property owners often require a series of documents that can turn the search process into a maze.

Examples might include credit scores, proof of income, background checks, and references that many immigrants do not yet have. However, there are proven strategies that make it easier for newcomers to obtain a lease in the United States.

If this sounds familiar, keep reading—we’ll explain in detail how to prepare to rent safely and avoid the typical obstacles immigrants encounter when establishing themselves in the U.S.

What do you need to rent in the United States?

Before you start searching for your next home, you should keep in mind the key requirements for renting an apartment in the U.S. These help the landlord confirm that the tenant is reliable and has sufficient financial solvency to pay rent on time and in full.

Below are the most requested items to sign a lease:

Personal identification

It’s very important to verify your legal identity. Landlords or real estate agents may ask for one or more of the following documents:

• Valid passport.

• Visa or resident card.

• Driver’s license.

• Social Security Number (SSN) or ITIN.

Financial solvency

To demonstrate you have sufficient solvency to cover the monthly rent, you can provide several documents, such as:

• Proof of income, such as pay stubs, tax returns, or bank statements.

• Employer letter or employment contract.

• It is also common to be asked for a security deposit equal to one month’s rent, which serves as a guarantee in case of damage to the property.

Credit history

Reviewing credit history is a crucial step for landlords and agents because it provides reliable evidence of the applicant’s financial behavior.

If you’ve been in the United States for a short time, you may not have a credit history. This article explains simple ways to start building one.

In that case, you may be asked for a credit report from an official agency or a signed authorization to check your credit score.

Local guarantors

If you lack sufficient evidence of solvency, you may be asked for a guarantor, who serves as a backstop if you cannot meet the lease terms.

Such a guarantor must reside in the United States and provide the following documents:

• Government-issued ID.

• Proof of income.

• Good credit history.

Renting in the United States: Process and leasing options for immigrants

Housing options in the U.S. are broad and adapt to all lifestyles, budgets, and immigration statuses.

Rental options you can find in the United States include:

• Furnished houses or apartments.

• Unfurnished houses or apartments.

• Individual rental.

• Shared rental.

Regardless of the type of property you’re looking for, we recommend following these steps to rent a house or apartment.

1. Explore and select the property

Take the time to review all property details and alternatives in different neighborhoods and cities. We recommend searching trusted sites such as Zillow, Realtor, or Apartments.com. Also ask friends or acquaintances who have gone through the process for referrals.

2. Evaluate the offer conditions

Carefully analyze the lease terms, such as price, property description, requirements, and restrictions.

3. Submit your rental application

When you find a home that meets your expectations, submit a rental application with your personal information, references, and authorization to check your credit history.

4. Visit the property

Before signing any contract or paying a deposit, it is essential to visit the property to ensure it matches the listing and is free from maintenance-related deterioration.

5. Submit the required documentation

If after the visit you are still interested in renting the property, the next step is to provide the previously mentioned documents, such as proof of income and government ID.

6. Review and sign the lease

The landlord will review your application and verify your documents. If approved, the final step is agreeing to and signing the lease terms, which set the rental conditions such as duration, cost, rules, and conditions for refunding the security deposit, among others.

Three key tips for a safe, hassle-free first rental

Finding your first rental in the U.S. can be a major challenge due to the number of requirements involved.

Below are some useful tips to help your search pay off as soon as possible.

Research the housing market

Use rental websites to research which areas are more affordable or best fit your lifestyle, ensuring you can cover not only rent but also day-to-day expenses.

Use multiple search methods

Don’t limit yourself to a single method. Alternate among websites, mobile applications, classifieds, and even the help of a real estate agent.

Avoid scams

It’s essential to stay alert to potential scams. Apply these tips and stay safe:

• Make sure the agent or brokerage is registered and has reliable references.

• Do not make any payment before personally visiting the property and having a contract formalized before a notary.

• Use only recognized platforms and portals.

• Be wary of last-minute offers or listings that seem “too good to be true.”

• Avoid using cash when finalizing the rental.

• Review each clause of the contract in detail before signing.

Considerations before choosing a home

Before choosing a house or apartment to rent, it’s important to consider several factors, for example:

• Location:

Location is one of the most relevant aspects when choosing a home. Beyond the city, consider the distance to your workplace and other frequent destinations.

• Neighborhood:

Research the type of neighborhood, safety, infrastructure, recreational areas, community profile, and any other information you consider significant for making a decision.

• Rental cost:

Make sure the rent fits within your means. Create a budget that includes your monthly income and expenses.

Below are tenants’ rights and obligations in the United States.

Payments and deposits

The tenant must pay the monthly rent and the agreed deposit on time. Both payments can be made by bank transfer, bank deposit, or check.

Maintenance and repairs

The landlord must ensure the property is in optimal condition and has all utilities. In turn, the tenant agrees to take care of the premises, keep them clean, and report any defects requiring maintenance.

Tenant legal protections

Tenants are protected by U.S. law against unfair practices, such as:

Refund of the security deposit if conditions are met.

Protection against unjustified or no-notice eviction.

Make your rent payments online safely and conveniently with Común

Renting your first home in the United States doesn’t have to be overwhelming. Take time to learn the most common requirements and consider alternative solutions like those in this article. This way, you’ll see it is possible to open the door to decent housing.

With the right preparation and tools, the rental process becomes much simpler and more accessible.

Rely on Común, a financial platform that addresses day-to-day needs in the United States, with an intuitive mobile app, so opening an account is quick and easy using qualifying official identification from your country of origin. It also makes it simple to send remittances up to the applicable limits to LATAM countries, so your family receives more, with competitive fees.

Discover Común, an excellent option dedicated to serving immigrant communities in the United States, with support available in Spanish.

Open your checking account today with a partner that understands your needs as an immigrant!

Frequently Asked Questions

If you still have questions, check our FAQs.

How much does rent cost in the United States?

The national average for rental housing is around $2,100 USD.

Where is it cheaper to live in the United States?

Cities such as Laredo, Texas, and Toledo, Ohio report the most affordable living costs.

Ways to Invest Money and Secure Your Future in the United States

One of the constant concerns for people who leave their home country in search of better opportunities in the United States is financial uncertainty, often caused by poor management and a lack of knowledge about effective strategies to grow their money.

Saving products are an alternative that allows you to save money in the long term while earning interest—returns that depend on the term and the rate offered by the financial institution.

Knowing the different ways to save money is a way to ensure financial stability for you and your family. Below, we explain the types of investments and the safest ways to get started. Please note that investment products are NOT FDIC INSURED, NOT BANK GUARANTEED, and MAY LOSE VALUE.

What Does It Mean to Invest Money and Why Is It Important?

Investing means allocating money toward a goal with the aim of obtaining higher returns in the future. You can do it on your own, through a business, or with formal financial instruments that put the contributed money to work to pay interest over defined time frames.

Here are some benefits of using investment strategies:

• Financial security: gives you the confidence of having a savings fund for the future.

• Financial growth: puts your money to work to generate passive income and avoid losing value due to inflation.

• Family support: helps you plan long-term family projects, such as buying a home or paying for children’s higher education.

How to Define Your Goals and Risk Profile Before Investing

Before you begin, keep in mind that all investments involve some level of risk. If you’re a beginner, it’s essential to start at a level that matches your situation.

You should also be clear about your financial goals—the targets you want to reach in the short, medium, and long term.

Risk Profile

A risk profile is an investor’s ability to handle potential losses caused by market fluctuations.

These are the three main types.

Conservative

This profile is ideal for people not familiar with investing, as it involves low risk. Although returns are steady, they tend to be lower than other investment alternatives. Preferred options include savings accounts and short-term investment funds.

Moderate

This profile suits somewhat more experienced investors who are willing to take moderate risk by combining safer investments with slightly riskier ones to obtain better returns.

Aggressive

This profile is for those who have a strong command of investing. They have a high tolerance for losses and aim for high income through significant long-term investments, typically in the stock market, high-yield funds, and real estate.

Determine Your Risk Profile

Next, define the risk profile that aligns with your personal finances and your experience with these instruments.

Follow these tips to help you make a smart investment.

Step 1. Assess Your Current Financial Situation

Take stock of your finances—consider your income, monthly expenses, debts, and existing savings.

Step 2. Determine Your Investment Goals.

Set exactly what you want to achieve and in what timeframe—for example, buying a home, traveling abroad, paying for medical treatment, or simply building an emergency fund. Remember that long-term investments involve higher risk but can also offer higher returns.

Step 3. Decide How Much You Can Invest Initially.

Based on your budget, determine how much you can allocate to your initial investment and whether you can increase it later.

Step 4. Evaluate Your Risk Tolerance.

Analyze your willingness to accept potential losses and their impact on your personal finances.

Here is a comparative table for clarity.

Investment Profile

Risk Level

Time Horizon

Potential Return

Characteristics

Conservative

Low

Long – Medium

Low

Prioritizes safety over return.

Moderate

Medium

Medium – Long

Low – Medium

Balances safety and returns.

Aggressive

High

Long

High

Seeks to maximize long-term gains, with higher risk.

4 Accessible Investment Options for Beginners

A common misconception is that you need a significant amount of money to become an investor. In reality, there are accessible alternatives that let you start with small amounts, easily.

Here are four ideal options to start investing.

Index Funds

Index funds pool money from multiple investors to buy stocks or bonds.

Main Benefits:

• Automated operation.

• Easy diversification.

• Potential for good long-term returns with little effort.

Certificates of Deposit (CDs)

A certificate of deposit is an investment made directly with a financial institution for a fixed term, meaning you cannot withdraw the money during that period.

Main Benefits:

• A relatively secure way to start investing, as it’s offered by financial institutions.

• Generates steady, predictable returns.

Bonds

Bonds are loans to companies or governments that pay interest periodically and generally carry lower risk.

Main Benefits:

• Income is more predictable.

• A good option to diversify alongside slightly riskier investments.

Digital Investment Accounts

An accessible option that allows you to invest from a mobile application.

Main Benefits:

• Let you start with very small amounts of money.

• Very beginner-friendly for entering the world of investing.

Before choosing an investment vehicle, consider your risk profile. If you prefer stability over returns, CDs or bonds may be ideal.

Avoid “putting all your eggs in one basket.” The key to smart investing is diversifying across several instruments, even with small amounts.

Simple Habits to Invest and Review Your Strategy

When you start investing, it’s important to be realistic, stay patient, and remain consistent with your financial goals.

Here are some simple practices to keep your investments on track.

• Review your investments at least every 3 to 6 months.

• Adjust your strategy as your goals or financial situation change.

• Use digital tools to monitor your progress.

Use Común to Manage Your Money Easily as an Immigrant in the U.S.

Financial management is a responsibility you should entrust to an accessible platform.

Meet Común! The financial service that lets you send, receive, and withdraw money within and outside the United States, quickly, simply, and securely. 

Común is a mobile app that allows you to open an account easily with a qualifying official identification from your home country, so it’s a great option for the immigrant community.

Open your account with Común and start sending, receiving, and withdrawing money. Enjoy Spanish and English language support, clear fees, and a digital platform ideal for the immigrant community in the United States.

Frequently Asked Questions (FAQ)

If you still have questions, see the section below. Please note that investment products are NOT FDIC INSURED, NOT BANK GUARANTEED, and MAY LOSE VALUE.

How much money do I need to start investing in the U.S.?

There are quite accessible investment options today, especially digital platforms. Some let you start with amounts as low as $1 or $5, which is ideal for learning to invest.

Is it safe to invest as an immigrant?

Yes—even if you are not a legal resident, you can invest money in the United States. Just make sure to use regulated institutions and platforms.

What if I want to change my investment strategy in the future?

It’s common to change your investment strategy to match your financial goals. Review your investments periodically and make the necessary adjustments according to the applicable timelines.

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Having a bank account is an essential step for people arriving to work in the United States, since it makes it easier for them to manage their salaries and adapt to the country’s financial system.

This can be a complicated process, since in the United States there is a wide variety of financial institutions, such as traditional banks with hundreds of branches, digital banks, and credit unions.

Among the most well-known are Bank of America, Capital One, and Wells Fargo, which enjoy significant recognition in the country. However, it is not possible to name one as the best: this depends on the specific needs of users.

For example, immigrants in the United States look to prioritize ease of account opening, as well as the ability to send remittances to their loved ones.

In this article, we will explain which are the best banks in the U.S., their features, requirements, and everything you need to know before opening an account.

The 6 Best Banks in the United States in 2025

Below, we present a comparative table of the best banks in the U.S.

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How to Choose the Best Bank to Open an Account

If you are about to start your financial life in the United States, choosing a bank where you open an account is a very important decision. Each has its own requirements and benefits, so you should look for the one that best fits your expectations.

These are the most relevant criteria you should analyze before choosing the best option for you.

Accepted Identification

Many banks request the SSN (Social Security Number) to process a bank account, while others accept alternatives such as the ITIN or a passport.

Support and Availability

Although some banks do offer support in other language, like Spanish, not all of them do. Verify that the institution you choose can clearly answer your questions.

Cash Deposits and Withdrawals

If you frequently receive cash payments, it is important that your bank allows you to make cash deposits at branches near you and without fees.

Transfers and Remittances

Sending remittances is a crucial issue for immigrants, so you should review the fees for international money transfers. These are often more expensive in traditional banks due to intermediaries and exchange rates.

Digital Security

Verify that the bank has security measures in digital banking, as well as backing from official institutions such as the FDIC.

5 Digital Finance Platforms in the United States

Beyond traditional banks, you can also turn to digital alternatives, which tend to be more accessible.

Digital banks or financial platforms are institutions that operate online through mobile apps and websites. They do not depend on physical branches and tend to make processes easier in favor of financial inclusion.

There are financial platforms focused on meeting the needs of immigrants in the United States, as they address gaps and obstacles of traditional banks with flexible account-opening requirements, accessible fees for remittance sending, and ease of depositing cash.

Común

Advantages: focused on the needs of immigrants, support available in Spanish, and has accessible account-opening requirements.

Disadvantages: it does not have physical branches or an ATM network, but you will always be able to access your digital money from the palm of your hand, without time restrictions; you can also withdraw and make cash deposits at thousands of locations in the United States.

Ally

Advantages: 100% digital bank with High Interest Rates (APY) on savings accounts.

Disadvantages: it is not possible to make direct deposits.

Axos

Advantages: offers various types of accounts and attainable options for students and immigrants.

Disadvantages: limited support in Spanish.

Chime

Advantages: offers accounts with no monthly fees, ATM network, and payroll advance.

Disadvantages: difficulty in making cash deposits.

Discover

Advantages: offers credit cards with rewards, checking and savings accounts without monthly fees.

Disadvantages: few cash deposit options, and it is not focused on the needs of immigrant communities.

Común: A financial platform for immigrants in the U.S.

As you can see, there is a variety of financial institutions you can turn to, and access to a full range of services such as cash deposits, transfers, financial management, etc.

That is why you must be clear about what you are looking for in a U.S. bank account and how you could meet your needs.

Most traditional banks tend to have stricter requirements and higher operating costs. For this reason, many immigrants consider digital financial platforms as an alternative, since they are often more accessible and designed with services that address their needs.

Común is a fintech platform that can support you in starting your financial journey in the United States, offering benefits such as:

• Open your account with the qualified official identification from your country of origin

• Forget about hidden fees and minimum balances 

• Send money to your loved ones in Latin America for a fee starting at $2.99 USD (up to the applicable limits)

• Access a network of more than 88,000 locations for cash deposits and withdrawals

• Access Spanish-language support available 24 hours a day

• Get a Visa debit card

• Manage your finances from a comprehensive and easy-to-use mobile app

Open your account today and start sending money through Común’s mobile app.

Frequently Asked Questions

If you have more questions, check our FAQ section.

Which is the safest bank in the U.S.?

FDIC insurance is relevant to determine if a bank is safe. Traditional banks have this backing, as do digital banks like Revolut (through Sutton Bank) and fintech platforms such as Común.

Which bank charges fewer monthly fees for a bank account?

Many digital banks and fintech platforms, including Común, often offer competitive rates. This can be due to lower operating costs, since they do not maintain physical branches. However, fees and account features vary by provider.