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.

Cashing a Check at Your Own Bank

When it comes to cashing a check, one of the simplest options is visiting your own bank or financial institution. Here's a step-by-step process for depositing or cashing a check:

1. Endorse the Check: Flip the check over and sign your name on the back in the area designated for endorsement. Make sure your signature matches what's on file with the bank.
2. Visit Your Bank: Head to the local branch of the bank where you have an account. Bring a valid form of ID, like a driver's license or passport.
3. Approach a Teller: Depending on your preference and the bank's options, you can present the check to a teller for processing or use an ATM equipped with check deposit functionality to get your money.
4. Provide Necessary Information: If you're dealing with a teller, you may need to provide additional account information, like your account number, the issuing bank, and the check amount. For ATM deposits, follow the on-screen prompts to enter the relevant details.
5. Confirm Deposit or Receive Cash: After processing, you'll receive confirmation of the deposit into your account or the cash in hand if you chose to cash the check.

'Cashing' a Check Electronically

Beyond traditional in-person methods, many banks offer electronic options for depositing checks. This convenient approach lets you deposit checks without visiting physical locations or even cash checks without ID. Here's how it works:

• Mobile Deposit: Most banks provide a mobile app that lets you deposit checks using your smartphone or tablet. Simply endorse the check, take photos of the front and back, and submit them through the app.
• Online Banking: Some banks offer online banking portals where you can scan and upload images of checks for deposit. This method generally follows steps similar to mobile deposit and is accessible through a web browser.
• Electronic Funds Transfer: In some cases, you may have the option to electronically transfer a check's funds directly to your account without needing physical processing.

Pros and Cons of Checking Accounts

Checking accounts serve as the hub for many financial transactions, offering both benefits and drawbacks. Understanding these pros and cons is crucial to effectively managing your resources.

Advantages of Having a Checking Account

• Convenience: Checking accounts provide a convenient way to access and manage your funds for everyday expenses, like paying bills and making purchases with a debit card.
• Writing Checks: With a checking account, you can issue checks to people or businesses, offering a secure, traceable payment method.
• Direct Deposit: Many employers offer direct deposit, letting your paychecks be automatically deposited into your checking account, providing quick access to money.
• Online Banking: Most banks offer online banking services for checking accounts, letting you monitor account activity, transfer money, and pay bills from the comfort of home or on the go.
• Overdraft Protection: Some checking accounts come with overdraft protection options, which can help prevent declined transactions and fees in the event of insufficient funds.

Disadvantages or Limitations of Checking Accounts

• Fees: Some checking and money market accounts may have monthly maintenance fees, overdraft fees, limited withdrawals, or ATM fees, which can reduce your balance if not carefully managed.
• Minimum Balance Requirements: Certain checking accounts require you to maintain a minimum balance to avoid fees, which can be a challenge for those living paycheck to paycheck.
• Limited Interest: While some checking accounts offer interest on balances, rates are typically lower compared to savings accounts, resulting in minimal earnings on your deposits.
• Fraud Risk: Issuing checks or using a debit card linked to your checking account exposes you to the risk of fraud or unauthorized transactions, requiring vigilance and prompt reporting of any suspicious activity.

By carefully weighing the advantages and disadvantages of checking accounts and considering key factors when selecting the right account, you can effectively manage your finances and get the most out of your banking experience.

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Where to Cash a Check

When it comes to cashing a check, you have several options available, ranging from a traditional bank to a retail store. However, not all locations are equal, and it's essential to weigh the pros and cons of each option before making a decision.

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• Banks: Your bank is often the simplest option for cashing a check. You can visit a branch or use an ATM equipped with check deposit functionality. Many banks and credit unions also offer mobile deposit options, letting you deposit checks using your smartphone.
• Retail Stores: Some retail stores, like supermarkets, convenience stores, and big-box retailers, offer check-cashing services for a fee. This can be a convenient option if you don't have a bank account or need access to cash outside of banking hours.
• Check-Cashing Stores: Dedicated check-cashing stores specialize in cashing checks for a fee. While these establishments provide quick access to cash, their fees can be higher compared to other options, reducing the amount you receive.
• Prepaid Debit Card: Certain prepaid debit cards let you load checks onto the card electronically, providing instant access to funds. This can be a convenient option if you regularly use prepaid cards for financial transactions.

Where to Avoid Cashing a Check Due to Potential Fees or Limitations

• Payday Lenders: Avoid cashing checks at payday loan establishments, since they often charge exorbitant fees and may engage in predatory lending practices.
• Pawn Shops: While some pawn shops offer check-cashing services, their fees can be high, and they may require collateral or impose additional charges and higher costs to cover transactions.
• High-Fee Retailers: Be careful when cashing checks at retailers that charge high fees for the service, since these fees can significantly reduce the amount of cash you receive.

When deciding where to cash a check, consider factors like convenience, fees, and access to money. Choose a reputable establishment and service with transparent fee structures to make sure you get the most value from your check-cashing experience.

Comparing Checking and Savings Accounts

Understanding the differences between checking and savings accounts is crucial for effective financial management. Here's a concise comparison:

Interest Rates and Benefits of Savings Accounts

• Interest Rates: A savings account generally offers higher interest rates compared to a checking account, making it ideal for growing your money over time.
• Benefits:
• Goal-Oriented Saving: Savings accounts are great for setting aside funds for specific goals.
• Safety Net: They provide a financial cushion for unexpected expenses.
• Access to Funds: While there may be a limit on withdrawals, savings accounts offer relatively easy access to your money.

Considerations for Having Both Accounts at the Same Bank

• Convenience: Managing both a savings and checking account at the same bank offers ease in transferring money, viewing balances, and accessing statement cycles and bundled services.
• Relationship Benefits: Some banks or credit unions offer perks for customers with multiple accounts, like higher interest rates or waived fees.
• Simplified Experience: Consolidating a savings and checking account simplifies banking tasks like bill payments and money transfers.
• Diversification: However, having accounts at different banks provides diversification and can mitigate risks associated with a single financial institution.

Ultimately, the decision to have a savings and checking account at the same bank or spread across multiple financial institutions depends on your preferences, financial goals, and banking needs.

Loading a Check Onto a Prepaid Card

Loading a check onto a prepaid card is a convenient alternative to traditional banking methods, offering flexibility and accessibility for people who may not have or prefer not to use traditional accounts. Let's briefly break down the process and considerations associated with this method.

Prepaid Cards and Their Suitability

• Prepaid Cards: Reloadable payment cards not linked to traditional bank accounts.
• Loading Checks: Prepaid card providers offer options to load checks electronically through mobile apps or online portals.
• Suitability: Ideal for those without a bank account or who prefer alternative financial services.

Pros and Cons of Using Prepaid Cards

Pros:

• Accessibility and convenience for loading checks.
• Control over spending and security features.

Cons:

• Monthly fees for various transactions.
• Limited features compared to traditional bank accounts.
• Reload limits and lack of FDIC insurance.

Consider the convenience and accessibility of prepaid cards for check transactions, keeping in mind the associated fees and limitations.

You Can Open a Checking Account With Común Right Now!

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

Open your account

Conclusion

Navigating the check banking landscape today requires a balanced understanding of the advantages and disadvantages inherent to this payment method. While checks offer flexibility and accessibility, they also come with potential fees and security risks. By weighing the pros and cons outlined in this article and exploring alternative banking options, people can make informed decisions to optimize their financial and cash management strategies.

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Linking payments in online banking lets you connect external accounts or cards to manage your finances in one place. With Común you can link an external debit card from another U.S. bank to send and receive payments.

What does it mean to link payments in online banking?

It's the process of connecting an external account or card to your financial app so you can move money between them or make payments directly.

How do I link an external card in Común?

From the app, add your external debit card (from a U.S. bank, in your name). Común verifies the card with a micro-deposit you confirm in the app.

What can I do once I've linked my external card?

Send and receive payments and remittances using that card, even if you don't have funds in your Común balance.

Frequently asked questions

What do I need to link an external card to my Común account?

A valid debit card, issued in the U.S., in your name.

How does Común verify the card is mine?

With a micro-deposit of less than $1.00 that you confirm in the app.

Can I link a credit card?

No, Común only accepts personal debit cards, not credit or prepaid cards.

How many cards can I link?

Up to 2 debit cards during your first 60 days with the account.

Why can't I link my card?

Common reasons include the name not matching, the card not allowing funds to move both ways, or it not being issued in the U.S.

Is it safe to link an external card?

Yes, Común never asks for your bank password during the verification process.

The Global Impact of Mobile Money Transfer Apps

Money transfer apps have significantly altered the global remittance landscape, offering an accessible and efficient way for people to send money across borders. These apps have democratized financial services, especially in regions where traditional banking infrastructure is weak. By leveraging mobile technology, remittance services have become more inclusive, reaching remote and underserved communities.

Key Benefits

Accessibility: Money transfer apps are accessible to anyone with a smartphone and an internet connection, with no need for a physical bank.

Cost Efficiency: These apps often offer lower transaction fees compared to traditional remittance services, making it more affordable to send money internationally.

Speed: Transfers process almost instantly, reducing wait times for recipients.

Security: Advanced encryption methods and secure access provide robust protection against fraud and theft.

Impact of Mobile Money Apps on International Remittances

Mobile money apps have had a profound impact on international remittance flows. By simplifying the transfer process, these apps have increased the volume of remittances sent globally.

Accessibility and Financial Inclusion

One of mobile money apps' most significant contributions to international remittances is their role in promoting financial inclusion. Many remittance recipients in developing countries don't have access to traditional banking services. However, with the widespread adoption of mobile phones, even in remote areas, these people can now receive money directly into their mobile wallets. This not only eliminates the need for physical bank branches, but also provides a safe and convenient way for recipients to access their funds.

Reducing Transaction Costs

Another key impact of money apps on remittances is reducing transaction costs. Traditional remittance methods often involve high fees charged by banks and money transfer operators. These fees can eat into the funds sent, particularly for smaller amounts. Mobile money apps, on the other hand, generally offer lower fees, making it more affordable for migrants to send money to their families. By lowering the cost of remittances, these apps let migrants send larger amounts of money, increasing the total volume of remittances reaching recipient countries.

Speed and Convenience

Mobile money apps also offer unmatched speed and convenience compared to traditional remittance methods. Transactions can be initiated and completed in minutes, letting recipients access funds almost instantly. This is particularly beneficial in emergency situations, where quick access to funds can make a significant difference in a recipient's quality of life. Plus, the convenience of mobile money apps means migrants can send money anytime, from anywhere, without having to visit a physical location or work around bank or money transfer agent hours.

Empowering Recipients

Beyond the immediate financial benefits, mobile money apps empower recipients by giving them greater control over their finances. With funds deposited directly into their mobile wallets, recipients have the flexibility to use the money however they see fit, whether for daily expenses, savings, or investments. This financial autonomy can contribute to long-term economic stability and resilience, since recipients are better equipped to weather financial shocks and pursue opportunities for personal and economic growth.

More Stable Than Capital Flows

Remittances have proven to be more stable than other forms of financial inflows, like foreign direct investment (FDI) or portfolio investments.

Reasons for Stability

• Personal Nature: Remittances are usually sent for personal reasons, like supporting family members, making them less susceptible to economic fluctuations.
• Resilience: During economic downturns or crises, migrants often increase remittances to support their families, providing a steady flow of funds.

High Transaction Costs

Despite the advantages, high transaction costs remain a challenge in the remittance industry. Traditional services can charge fees ranging from 7% to 10% of the total amount sent, which is a significant burden for lower-income workers.

Efforts to Reduce Costs

• Regulatory Changes: Governments and international organizations are working to implement policies that reduce transaction fees.
• Technological Innovation: Advances in fintech, including blockchain and cryptocurrency, are helping reduce costs by cutting out intermediaries.

In short, the impact of mobile money apps on international remittances is multifaceted, spanning greater accessibility, lower transaction costs, increased speed and convenience, and recipient empowerment. As these apps continue to evolve and innovate, their role in facilitating cross-border transactions and promoting financial inclusion will likely become even more pronounced, further transforming the global remittance landscape for the better.

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What to Consider When Sending Remittances

Sending remittances through mobile money apps offers convenience and efficiency, but it's essential to consider several factors to ensure a smooth, cost-effective transaction.

1. Fees: Compare the fees charged by different money transfer apps to find the most affordable option. While some apps may offer low upfront fees, they may make up for it with less favorable exchange rates.
2. Exchange Rates: Exchange rates can vary significantly between different money transfer apps and fluctuate throughout the day. Look for apps that offer competitive exchange rates to maximize the amount the recipient receives.
3. Transfer Speed: Consider how quickly you need the money to reach the recipient. While many mobile money apps offer near-instant transfers in minutes, others may take longer, especially for transfers to remote areas or during periods of high transaction demand.
4. Security Features: Make sure the money transfer app you choose has robust security measures to protect your funds and personal information. Look for features like two-factor authentication, encryption protocols, and fraud detection systems.
5. Accessibility: Consider the app's accessibility for both sender and recipient. Choose an app that's easy to use and available in the languages spoken by both parties. Verify that the recipient can easily access the transferred funds, whether through a mobile wallet, bank account, or cash pickup location.
6. Customer Support: Evaluate the customer support options provided by the money transfer app. Look for apps that offer responsive customer service channels, like phone support, live chat, or email.
7. Reviews and Reputation: Research the money transfer app's reputation by reading reviews from other users and independent review platforms. Pay attention to feedback on reliability, transaction speed, customer service, and overall user experience. Choose a reputable app with a track record of safe, efficient money transfers to minimize the risk of issues.
8. Regulatory Compliance: Make sure the money transfer app complies with relevant regulations and legal requirements in both the sender's and recipient's countries. Verify that the app follows anti-money laundering (AML) and know-your-customer (KYC) procedures to prevent illicit financial activity.

Sending the Money

Sending money through mobile apps is a straightforward process, but understanding the steps can help ensure a successful transaction.

Steps to Send Money

• Choose an App: Select a reliable money transfer app based on your needs.
• Set Up an Account: Sign up and verify your account with the necessary ID documents.
• Enter Transfer Details: Enter the recipient's information and the amount to send.
• Review and Confirm: Verify the details and confirm the transaction.
• Notification: Both sender and recipient typically receive notifications once the transfer is complete.

By carefully considering these factors when sending remittances through mobile money apps, you can ensure a smooth, cost-effective transfer experience while providing vital support to your loved ones across borders.

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In the mobile remittance landscape, Común stands out as an emerging player, particularly serving the needs of the immigrant community in the United States¹. Recognizing the challenges immigrants face in accessing reliable financial services and building wealth in the U.S., Común has positioned itself as a solutions-oriented platform aimed at lowering barriers to entry and accelerating integration with the digital economy.

Let's Start With the Problem:

Living in the United States as a foreigner presents numerous challenges, made worse by a financial system that often overlooks immigrant communities' needs. Reliable financial services are essential for building wealth, yet millions of immigrants find themselves excluded from mainstream banking and financial opportunities.

Barriers to Entry:

• Documents: Immigrants are often less likely to have Social Security numbers (SSNs), a common requirement for accessing financial services.
• Language: Many financial institutions lack Spanish-language services, creating a communication barrier for Spanish-speaking immigrant customers.
• Cost: Financial services aimed at immigrants often come with exploitative pricing, further widening the economic gap.

Addressing the Structural Opportunity Gap:

Común recognizes the structural opportunity gap facing the immigrant community and aims to address it through innovative solutions tailored to their needs.

Común's Solution:

• Your Documents: Común is one of the only platforms that lets users apply with more than 100 Latin American IDs, removing the barrier posed by not having an SSN.
• Your Language: Común provides 100% bilingual customer service, with native Spanish speakers available 24/7 via chat, email, or phone, ensuring effective communication and support.
• Your Neighborhood: Común offers a network of thousands of locations for cash deposits and withdrawals, making financial transactions convenient and accessible for users.

Facts About Global Migration

Understanding the dynamics of global migration is essential to grasping the complexities of remittances and their impact on world economies. Here are key facts that shed light on the intricate relationship between migration and remittances:

• Global Migration Trends: Migration patterns have shifted over the past decade, with significant movements of people across regions and continents driven by factors like economic opportunity, conflict, and climate change.
• Top Remittance-Receiving Countries: Some countries receive the largest remittance inflows, often coinciding with regions facing economic challenges or political instability. Countries like India, China, and Mexico are among the top global remittance recipients.
• Top Remittance-Sending Countries: On the other hand, there are countries where most remittances originate, reflecting diaspora efforts to support family members and contribute to development in their countries of origin. The United States, Saudi Arabia, and the United Arab Emirates are prominent remittance-sending countries.
• Economic Impact of Remittances: Remittances play a crucial role in recipient countries' economies, contributing to GDP growth, poverty reduction, and increased household income. In many developing countries, remittances make up a significant share of national income.
• Cost of Sending Remittances: Despite their economic importance, sending remittances can be costly for migrants, with fees charged by money transfer operators and banks often eating into the funds sent. Efforts to reduce remittance costs are underway, aimed at maximizing benefits for senders and recipients.
• Remittance Growth Over Time: Global remittance volumes have been steadily increasing over the years, reflecting the growing number of migrants and the expansion of remittance corridors. This growth underscores the importance of remittances as a lifeline for millions of families worldwide.
• Migrant Contributions to Host Economies: Migrants don't just send money back to their home countries — they also contribute to their host countries' economies through labor participation, entrepreneurship, and consumer spending. Their contributions enrich cultural diversity and drive innovation and economic growth.
• Impact of Technology on Remittances: Technological advances, including the rise of mobile money apps and blockchain technology, have revolutionized the remittance industry, making transfers faster, cheaper, and more accessible. These innovations have empowered both migrants and recipients, letting them bypass traditional banking systems and intermediaries.
• Future Projections: Projections indicate continued growth in global migration and remittance flows, driven by demographic shifts, economic disparities, and geopolitical developments. Understanding these trends is essential for policymakers, financial institutions, and stakeholders to shape policies and initiatives that harness the positive impact of remittances while addressing challenges and barriers to access.

By recognizing the importance of migration and remittances, we can work toward building inclusive, sustainable financial systems that benefit individuals, families, and communities around the world.

Conclusion

In conclusion, money transfer apps have revolutionized global remittances, offering convenience, affordability, and accessibility. They close the gap between senders and recipients, empowering migrants and supporting families worldwide. As technology advances and regulations evolve, these apps will continue to shape the remittance landscape, fostering financial inclusion and economic growth. By embracing innovation and collaboration, we can harness the transformative power of mobile money apps to create a more equitable, prosperous global economy.

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Digital Banks in the United States: A Clear Guide to Opening Your Account

Having access to affordable financial services with features that let you carry out multiple operations in one place is essential for immigrants living and working in the United States.

Digital banks are a comprehensive solution that combines financial management with mobile technology to streamline processes compared with traditional banks.

These features are especially beneficial for immigrants looking for an alternative to access services that are often less feasible through institutions with physical branches.

In this guide, we explain why you should consider integrating digital banking into your lifestyle, how to open an account, and options for digital banks in the United States.

What Is a Digital Account and How Does It Work?

A digital account is a financial product that operates entirely online through mobile applications and digital platforms (website), removing the need to travel to a physical location to complete banking operations.

Here are some benefits of digital accounts.

• Mobility and 24/7 access from anywhere: they are not limited to teller hours and allow transactions at any time and place.

• Convenience for making payments and international money transfers: they allow sending money within and outside the country quickly.

• Security and transaction control from the app: they include safeguards to prevent misuse of personal data and crimes such as fraud.

How to Open a Digital Account in the United States Step by Step

Opening a digital account is usually simpler than with traditional financial institutions—not only because it can be done from a mobile device, but also due to flexible requirements that allow immigrant communities to access financial services with the same quality standards.

These are the steps to open a digital account in the United States.

Required Documents

Unlike traditional banking services, you can open a digital account with documents you use day to day.

• Official identification from your home country (valid passport, consular ID, driver’s license).

• In some cases, proof of address in the United States.

Account Opening Process

Once you have your documents ready, follow these steps.

Step 1. Register on the digital platform/mobile app.

Go to the digital bank’s website or mobile application of your choice and enter your personal information to register.

Step 2. Identity Verification and Approval.

For security reasons, digital banks require an identity verification process that includes submitting an official ID, a selfie, and, in some cases, facial recognition.

Step 3. Account Activation and Access to the Mobile App.

Once the digital bank verifies your identity, you’ll receive an activation notice. Immediately afterward, you can access all services, set up direct deposits, send money in real time, and manage your finances.

U.S. Financial Platforms Recommended for Immigrants

If you’re wondering which digital platform for immigrants is ideal, there are several effective options, so it’s best to compare them and choose the one that best fits your expectations.

Común

Fees: Affordable fees for international money transfers to Latin America.

Ease of use: Open an account from a mobile device with a qualifying official identification from your home country.

Spanish support available: offers 24/7 customer service also available in Spanish via WhatsApp or the mobile app itself.

Mobile access: you have access to a mobile app for comprehensive financial management.

Zelle compatibility: not integrated.

Ally Bank

Fees: most accounts do not charge monthly maintenance fees. Approximately $20 for domestic wire transfers.

Ease of use: a 100% digital platform offering a mobile application and a website.

Spanish support: limited Spanish-language service.

Mobile access: service compatible with mobile devices.

Zelle compatibility: integrated.

Wells Fargo

Fees: maintenance and overdraft fees vary by account type.

Ease of use: offers mobile banking, online banking, and a digital assistant.

Spanish support: available.

Mobile access: full mobile features.

Zelle compatibility: integrated.

Revolut

Fees: charges a 1–3% fee for adding money via credit or debit card.

Ease of use: offers comprehensive, easy-to-use digital products.

Spanish support: you can change the app language, but there is no Spanish-language support.

Mobile access: fully available.

Zelle compatibility: not integrated.

Mercury

Fees: offers international USD transfers at no additional cost.

Ease of use: focused on corporate and tech companies.

Spanish support: not available.

Mobile access: fully available, but more focused on web dashboards.

Zelle compatibility: not integrated.

Cash App is another efficient financial platform—here we explain its benefits.

The Importance of Using Your Account Safely and Efficiently

Although digital platforms offer security measures to protect your assets, it’s always wise to keep the following recommendations in mind to reduce risks.

• Set up transaction notifications and security alerts: they help you stay on top of your activity and detect any suspicious behavior.

• Use strong passwords and enable two-step verification: this reduces the risk of falling victim to hackers.

• Review activity regularly and learn to identify suspicious alerts: check text messages and transaction notifications, and report any unrecognized charges immediately.

• Take advantage of the mobile app’s functionality for quick and reliable transfers: send and receive money easily within and outside the United States.

Discover Común, the Financial Option for Immigrants

In this article, we presented a practical alternative to traditional institutions so you can decide which digital bank in the United States fits your needs.

Común is not a bank, but a digital platform, it offers a mobile app and a debit card that work together to provide a service ideally for the immigrant community.

You can open an account with qualifying official identification from your home country and a mobile device to access the financial service you deserve.

Open your account with Común and start sending, receiving, and withdrawing money.

Frequently Asked Questions (FAQ)

If you still have questions, see the section below.

Can I open a digital account without a Social Security Number?

Unlike traditional banks, digital accounts often have more flexible requirements, and it may be possible to open one with a qualifying official identification from your home country and, in some cases, proof of address in the United States.

Are digital banks in the U.S. safe?

Yes, digital banks in the United States have security measures such as two-step verification and encryption. It’s advisable to apply all possible security measures, such as using a strong password and enabling notifications.

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What is the best health insurance in the United States?

Having health coverage is essential to ensure you receive care when you need it. It’s also a way to invest in your future by preventing large out-of-pocket expenses from costly procedures.

There are many health insurance options in the U.S., so there isn’t a single “best” plan—what’s best depends on your needs and budget.

Although access to healthcare is a basic need, enrolling in a plan can be confusing for immigrant communities.

Below you’ll find a comparison of the main health insurance options in the U.S., key evaluation criteria, and answers to frequent questions—so you can choose the best option to protect you and your family.

Factors to consider when choosing health insurance

Before choosing a plan, carefully assess your personal and family needs, as well as benefits, medical terms, and the features of each option.

Key points to keep in mind before signing anything.

• Coverage level. 

Some plans cover only basic services, while others offer comprehensive coverage including hospitalization, specialist visits, and prescription drugs. Review your medical needs (and your family’s) to gauge the right level.

• Monthly premium cost. Coverage level affects the monthly price. Make sure the amount is sustainable for your long-term budget.

• Deductibles and copays. 

You must understand both before enrolling. The deductible is what you pay out of pocket before your plan starts paying; the copay is the fixed amount you pay each time you use a covered service.

• Provider network. 

Check that the plan includes a robust network of hospitals and clinics near your home or work, so you can access care when needed.

• Eligibility requirements. 

As an immigrant in the U.S., note that some plans require certain immigration status, state residency, and/or income qualifications.

• Additional benefits. 

Also review extras such as preventive care, mental health, wellness programs, and maternity coverage.

Remember: a low price doesn’t automatically mean the best option—it must fit your (and your family’s) specific needs.

Health insurance options in the United States

The U.S. health insurance market includes a range of public and private plans.

Here are key options you should know.

• Health insurance via the Marketplace (ACA). 

Plans under the Affordable Care Act (ACA) are offered through federal/state marketplaces. They must include essential health benefits and prescription coverage. Income-based subsidies may lower costs.

• Medicaid. 

A public program for people with low incomes; covers children, pregnant people, people with disabilities, and families. Usually no premium; some services may have small copays.

• Medicare. 

A program for people 65+ (and some with disabilities). It’s divided as follows: 

1. Part A: hospital inpatient. 
2. Part B: medical services. Part C: Medicare Advantage (private insurers) that can bundle extra benefits.

• Private plans and employer-sponsored insurance. 

Private coverage can be purchased directly or provided as an employer benefit. These plans vary in coverage levels and typically include broad provider networks.

Comparison of common health insurance options

Remember: beyond a policy, a health plan is protection for you and your family—take the time to choose well.

Here’s a comparative table of major U.S. health plan types.

Plan type

Who it serves

Approx. costs

Primary coverage

ACA Marketplace

People without employer private insurance.

Costs vary by coverage; income-based subsidies can lower premiums.

Essential benefits: hospitalization, preventive care, prescriptions, emergency care, etc.

Medicaid

People with low incomes.

Generally no premium; small copays for some services.

Broad medical and hospital coverage nationwide.

Medicare

People 65+ and certain disabilities.

• Part A: per-period deductibles. 
• Part B: monthly premium ~$185.

Hospital and medical services coverage

Employer-sponsored private insurance

Workers (and dependents) covered by employers.

Costs include premiums, deductibles, and copays—vary by plan.

Hospital, specialists, prescriptions, emergency services, etc.

Don’t forget: as an immigrant in the U.S., verify eligibility rules related to immigration status.

Manage your finances in the U.S. with Común

In this article, we covered what to consider before enrolling, the different plan types, and how to compare benefits.

There’s no single “best” plan—it depends on your personal and family needs and budget.

Beyond medical costs, immigrants need safe financial services to manage their money.

Común is the financial platform you’ve been looking for—discover the benefits!

• Checking account with clear, competitive fees.

• International money transfers at affordable costs.

• Mobile app available in Spanish that accepts 100+ official IDs for account opening.

• Debit card for everyday purchases and payments.

Open your Común account today and manage U.S. medical bills simply and transparently.

Frequently Asked Questions (FAQ)

If you still have questions, see the section below.

What is the number-one health insurer in the U.S.?

Among the top U.S. health insurers are: 

• Cigna. 
• Aetna. 
• Blue Cross Blue Shield. 
• Ambetter.
•  Anthem.

Is health insurance mandatory in the U.S.?

It isn’t required at the federal level, but some states—like California and New Jersey—mandate coverage or impose penalties.

Where can I officially compare health plans?

Official sources include: HealthCare.gov (federal Marketplace to view/compare/enroll); Finder.Healthcare.gov (to find off-Marketplace plans); Medicare.gov (compare Medicare plans by ZIP code).

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O1 Visa Requirements to Work in the United States

The United States offers a wide variety of visas to include as many profiles as possible that can contribute their knowledge to the country.

One example is the O1 visa, intended for foreign nationals who possess extraordinary abilities in fields such as science, sports, and the arts.

This visa has very specific criteria. Therefore, in this article, we explain the requirements established by the U.S. government to obtain it, the classification of O1 visa types, and the documents required during the application process.

If you are looking for an alternative to obtain a work visa in a highly competitive field, the O1 visa could open the door to a new life.

What Is the O1 Visa and Who Can Apply?

The O1 is a U.S. nonimmigrant visa aimed at foreign nationals with extraordinary abilities or outstanding achievements in specific areas.

The concept of “extraordinary ability” can seem a bit ambiguous, but in this context, USCIS refers to individuals who have reached such a level of excellence in their field that they have verifiable national or international recognition.

This visa is divided into two main categories:

O-1A Visa

For individuals with extraordinary achievements in science, education, business, or athletics.

O-1B Visa

For individuals with extraordinary ability in the arts, motion picture, or television industry.

As you can see, it is an immigration document that demands a high level of achievement from applicants in specific areas of work.

Main Requirements for the O1 Visa

To qualify for an O1 visa, applicants must meet a series of requirements established by USCIS.

Below are the main requirements for the two categories of this visa.

For the O-1A Visa

Applicants with outstanding achievements in science, education, business, or athletics must demonstrate they meet the following eligibility criteria:

• Having received significant recognition with national or international impact.

• Membership in prestigious associations that require outstanding achievements.

• Mentions or features in reputable media outlets.

• Having participated as a judge of the work of others in the same field.

• Being the author of published scientific articles.

• Having collaborated with distinguished organizations in the area of expertise.

• Evidence of a high salary or remuneration compared to others in the same field.

For the O-1B Visa

Applicants with outstanding achievements in the arts, film, or television industry can demonstrate eligibility if they meet the following requirements:

• Having received major awards, such as Grammy, Emmy, Oscar, or Nobel Prize.

• Participation in renowned productions.

• Being recognized by media and critics.

• Demonstrable commercial success or popularity.

• Having led prestigious projects.

It is important to note that it is not necessary to meet all these requirements, but the more criteria the applicant fulfills, the easier it will be to obtain the visa.

In both cases, applicants must have a job offer or a sponsor in the United States.

Documents and Evidence Commonly Submitted with the Application

In addition to meeting the criteria, the applicant must have the following documents to prepare a complete application.

Form I-129, Petition for a Nonimmigrant Worker

This form must be filed by the U.S. employer or agent and should include the following details:

• Full name of the beneficiary.

• Detailed description of the project.

• Expected duration and location of the project.

Letters of Recommendation

This letter is essential to support the applicant’s experience in their field. It must be issued by a group of peers, a union, or an expert entity.

Job Offer Letter or Employment Contract in the U.S.

It is a document signed by the applicant and the employer that sets out the terms and conditions of employment, responsibilities, and duration.

Additionally, the previously mentioned requirements can be supported with the following documentation:

• Copies of publications, articles, or press materials.

• Evidence of memberships, awards, or recognitions.

• Financial statements or evidence of high remuneration.

If you have any doubts about your application process, consult an immigration attorney who can help you determine whether your profile fits this type of visa, which is often considered an elite category. Keep in mind that there are other options such as the EB-1 and H-1B visas.

Find Opportunities in the U.S. with Support from Común

In this article, we explained that the O1 is the visa for individuals with extraordinary abilities, aimed at people with outstanding performance in science, sports, and the arts. We also covered the approval requirements and documentation needed to demonstrate that you belong to the groups covered by this work authorization.

Arriving in a new country to work involves many changes and learning to adapt to customs and regulations. When it comes to managing money effectively, it is essential that immigrants have access to quality financial services.

Discover Común, the financial platform that makes life easier for immigrants in the U.S.!

• Checking account with clear and competitive fees.

• International money transfers with affordable costs.

• Mobile app available in Spanish that accepts more than 100 official foreign identifications.

• Debit card for everyday purchases and payments.

Open your account with Común today and build your future in the U.S. with a financial platform designed for immigrants.

Frequently Asked Questions (FAQ)

Can You Obtain an O1 Visa Without a Sponsor?

No, the O1 visa always requires a sponsor to initiate the process. This sponsorship may be provided by a U.S. employer or an agency that acts as an intermediary between the applicant and contractors in the United States.

Although this visa cannot be self-petitioned, there is an option to hire an agent to submit the initial petition.

How Much Money Is Required for an Investor Visa in the United States?

The most common investor visa is the EB-5, which requires a minimum investment of $1,050,000 if the investment is made in a rural area or one with high unemployment.

A key requirement is that the project must create or maintain at least 10 full-time jobs in the United States.

Another investor visa option is the E-2, or treaty investment visa, which does not require a fixed amount but requires the applicant to prove that the investment is large enough to generate a positive impact.

Which Documents Carry the Most Weight for Approval?

The documents that usually carry the most weight for O1 visa approval are those that demonstrate sustained and verifiable recognition.

For example:

• Major awards.

• Publications in recognized media.

• Participation as a judge of others’ work.

• Membership in selective associations.

• Evidence of participation in well-known projects.

• Letters of recommendation from experts or field leaders.

Although it is not necessary to present all these documents, the more evidence there is, the greater the chances of approval.

How Long Does the O1 Visa Last and Can It Be Renewed?

The initial duration is 3 years, depending on the project. Extensions of 1 year can be requested as long as the requirements continue to be met.

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Popular apps to send money from the United States

The short answer is that it depends on what you're looking for. Whether you're splitting rent with a roommate, paying a friend back for dinner, or sending money home to your family in Mexico or Guatemala, there's an app for it. The key is selecting which one to use and when.

Sending Money from your phone

Today, millions of people living in the United States send money in minutes from their phones. This can be done to another person's bank account for someone sitting across the table from you at lunch or to a family member in a different country.

However, it is important to consider that not all apps work the same way, and choosing the right one for you could save you time or money. Some service providers offer fixed fees, while others offering international transfers include the cost in the exchange rate. This directly impacts how many pesos, quetzales, or lempiras your loved ones receive after the conversion.

How to compare money transfer apps?

It is recommended to look at three key factors that could impact the real cost of any transfer:

The transfer fee

The flat fee or percentage charge that is presented before the transaction is made. Some apps charge both a transfer fee and an exchange rate markup, while others charge only one. For domestic transfers within the United States, the fee is often the main cost to evaluate.

Speed

Faster delivery options could have a higher cost. Many apps offer a standard option that takes a few days at a lower cost, and an express option for more urgent transfers. For domestic transfers in the US, instant or same-day delivery is more common, though it may still carry an extra charge depending on the provider.

The exchange rate spread

For international transfers, this is the gap between the mid-market rate and the rate the app offers you. It is one of the most important cost drivers when sending money abroad. For domestic transfers in the US, there is no currency conversion, so this factor does not apply.

An overview of popular money transfer apps from the U.S.

Reviewing six popular remittance apps in the U.S.

Sending money within the United States is not the same as sending money abroad. The costs and logistics work differently, especially when currency exchange comes into play.

1. Común

Común is a digital financial platform that offers services in Spanish and supports both domestic transfers and remittances to countries across Latin America. Users can receive direct deposits into a Común account and send money from the same balance. Transfers are typically completed within minutes, with an average delivery time of around eight minutes depending on the destination and method. Común also operates with cumulative transfer limits over time: $2,999/day · $4,999/7 days · $9,999/30 days · $19,999/90 days. To learn more visit comun.app/remittances.

2. Remitly

Remitly offers multiple delivery options, including bank deposits, cash pickup, and mobile wallets. The app tends to offer promotional exchange rates available for the first transfers; however ongoing transfers tend to include a different spread. It is important to review each service provider's exchange rate spread. Speed is flexible: Express transfers are faster but could come with a higher cost embedded in the rate.

3. Wise

Wise shows the mid-market rate and charges with a clearly defined fee. This model makes it easier to understand what you are paying. It is an app that users have reported to be useful when managing multiple currencies or sending money to different regions across the world.

4. Xoom

Xoom is part of PayPal, which can be convenient if you already use PayPal regularly. Transfers are generally quick to initiate and familiar for those who already know the platform. In some cases, exchange rates may include a wider spread compared to more specialized remittance providers, so it can be useful to check the rate offered on the day of the transfer.

5. Western Union

Its biggest advantage is cash pickup. Recipients can collect money in thousands of locations, which can be useful for those receiving the money who don't have bank accounts. The costs vary widely depending on how you send and receive money.

6. Felix Pago

Felix Pago operates through WhatsApp, which could simplify the transfer process for some users. It is primarily focused on transfers to Mexico, and pricing can be competitive in certain cases, though exchange rate spreads may vary depending on the transfer method and timing.

Which app works best for each country?

The reality is that it depends on specific needs, whether it is lower costs, delivery options or speed. Mexico is one of the largest recipients of remittances globally — most major apps support transfers from the United States to Mexico. Guatemala and Honduras are supported by several providers, including Común, Remitly, Western Union, and Xoom. Colombia and El Salvador are also served by a mix of providers.

What's the best exchange rate available right now?

It changes. Exchange rates fluctuate with currency markets, and provider margins shift with them as well. The recommended approach is to model your specific transfer before sending. Some app service providers offer tools to enter the amount and calculate the amount your recipient would actually receive.

What can I look out for when sending money?

Typos in recipient information:

These are the most common and costly errors. A wrong digit in a phone number or account number can delay a transfer for days or send money to the wrong person entirely.

Sending on a Friday afternoon or holiday weekend:

This often means that the money won't arrive until Monday or Tuesday, even for services that advertise same-day delivery.

Choosing the wrong delivery method:

A bank deposit doesn't help someone who doesn't have a bank account. A cash pickup location that's far from your recipient's town isn't convenient, no matter how fast the transfer is.

Not comparing rates for larger transfers:

The exchange rate spreads and fees directly affect the final amount the person receives.

FAQ

Which app charges the least?

It depends on the destination, amount, speed, and delivery method.

Which app is the fastest?

Speed can vary between domestic transfers within the United States and international remittances. Some providers offer faster delivery options that may come with an additional cost.

Can I send money without a bank account?

Some financial service providers like Común allow you to open an account with your home country's official ID which may be used to manage your finances and send money. Western Union also accepts cash payments at agent locations.

Are these apps safe?

Many money transfer apps operating in the United States are registered with financial authorities and are required to follow regulations related to consumer protection and anti-money laundering. Issues are often linked to user input rather than the platform itself.

The right app depends on what you need

The right app depends on what you need, and that can change over time. There is no single option that fits every situation. What tends to make the biggest difference over time is paying attention to the full picture, including fees, timing, and the final amount your recipient receives.

If you send money regularly to Latin America, it may be worth exploring options that combine everyday banking with remittances in one place. Visit comun.app to learn more.

Remittance 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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Direct deposit is an electronic transfer that deposits your paycheck or benefits straight into your bank account, with no physical check required. It's the most common way employers pay in the U.S. With Común, you can receive your direct deposit and access your money up to 2 days before payday.

Direct Deposit Definition

Direct deposit is an electronic funds transfer method that lets an entity — an employer, the government, etc. — deposit money directly into the recipient's bank account. Unlike paper checks, this process eliminates the need to issue, deliver, and cash physical checks, saving time and resources.

Common Uses of Direct Deposit

1. Employee payroll: One of the best-known uses of direct deposit is payroll management at companies. Instead of issuing checks to each employee, companies can deposit wages directly into employees' bank accounts.
2. Government payments: Governments also use direct deposit to distribute payments to citizens, such as pensions, unemployment benefits, and tax refunds.
3. Money transfers: People can also use direct deposit to send and receive money between bank accounts, making it easier to handle transactions and payments between friends, family, and businesses.

Advantages of Direct Deposit

4. Speed: One of the biggest advantages of direct deposit is how fast the funds transfer happens. Direct deposits generally process faster than paper checks, letting recipients access their money sooner.
5. Security: Direct deposit is a safer method than paper checks, since it reduces the risk of theft, loss, or check fraud.
6. Time and resource savings: By eliminating the need to issue, deliver, and cash physical checks, both companies and recipients save time and resources. Direct deposit is also more environmentally friendly, since it reduces the amount of paper used in financial transactions.
7. Control over your money: Direct deposit lets recipients access their money quickly and conveniently, giving them more control over their personal finances.

How to Set Up Direct Deposit

With mobile apps like Común, you can connect your direct deposit to your bank account in seconds. Común lets you connect your direct deposit right from the Común app, or if you'd rather your employer handle it, Común gives you a pre-filled form to hand to your employer. On top of the convenience, connecting your direct deposit with Común means the Común app gets you your pay up to two days early.

Conclusion

Direct deposit is a modern financial solution that offers speed, security, and convenience when transferring funds. Whether for payroll, government payments, or personal transfers, direct deposit has become a preferred way to handle transactions and manage money. Ultimately, this method simplifies our financial lives so we can focus on what really matters.

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Q: What is direct deposit?

A: Direct deposit is an electronic transfer that sends your paycheck or benefits straight to your bank account, with no physical check needed. It's the most common way employers pay in the U.S.

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Q: How do I set up direct deposit with Común?

A: To set up direct deposit with Común, you need your account number and routing number. You'll find them in the Común app, in your account section. Share them with your employer or HR.

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Q: How long does direct deposit take to arrive?

A: Direct deposit usually arrives on the payday your employer sets. With Común, you can get paid up to 2 days early.

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Q: Do I need an SSN to receive direct deposit?

A: Not necessarily. With Común, you can open an account using official ID from your home country and receive direct deposit without an SSN.

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Q: What's the difference between direct deposit and a bank transfer?

A: Direct deposit is initiated automatically by your employer or payer every pay period. A bank transfer is something you initiate manually from your account. Direct deposit is faster and requires nothing further from you once it's set up.

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Q: Is direct deposit safe?

A: Yes. Direct deposit is safer than a physical check because the money goes straight to your account with no risk of loss or theft. Común accounts are backed by CFSB, Member FDIC.

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How to fill out a money order

A money order is a prepaid paper payment often used for rent, bills, or sending money securely through the mail. To fill one out correctly, you need to add the recipient's name, your information, sign the front, and keep the receipt for tracking or replacement purposes.

Money orders are still widely used in the United States, especially for situations where people need a secure paper payment method. Even in 2026, many landlords, utility companies, government offices, and individual recipients continue to accept or require money orders for certain payments.

For many people, especially immigrants, newcomers to the United States, or people without a traditional bank account, money orders can feel more accessible than personal checks. Filling out a money order incorrectly can cause delays, make the payment invalid, or create problems if the money order is lost. Knowing exactly what information to write and where to write it can help avoid unnecessary stress.

What is a money order?

A money order is a prepaid paper payment that works similarly to a check. Instead of drawing money directly from a bank account, you pay the full amount upfront when purchasing the money order.

Once completed, the money order can usually be:

• Mailed to a recipient
• Deposited into a bank account
• Cashed at approved locations

Because the payment is prepaid, money orders are often considered safer than mailing cash. Money orders are commonly used for:

• Rent payments
• Utility bills
• Government fees
• Payments sent through the mail
• Sending money to family members
• Situations where personal checks are not accepted

Most money orders also include a receipt or tracking number that can help verify whether the payment was cashed. Unlike many digital payment apps, money orders are not typically trackable in real time.

When to use a money order vs other options

Money orders can still make sense in certain situations, especially when:

• A landlord only accepts money orders
• You do not have a U.S. checking account
• You need to mail a secure payment
• The recipient does not use digital payment apps
• You do not want to share banking information

Where to buy a money order

USPS (United States Postal Service):

One of the most common places to buy money orders. Domestic money orders typically cost between $1.45 and $1.95. USPS money orders never expire.

Walmart:

Many Walmart locations offer money orders through MoneyGram services. Fees can be lower than traditional banks, although limits apply depending on the location.

Western Union:

Western Union locations also sell money orders. Some stores offer extended hours.

Banks and credit unions:

Some banks and credit unions issue money orders to account holders. Fees may vary depending on whether you already bank with the institution.

Step 1: Fill out the recipient's name

Write the recipient's full legal name in the "Pay to," "Pay to the Order of," or "Payee" section.

Tips:

• Write clearly using black or blue ink
• Double-check spelling
• Avoid nicknames unless specifically requested
• Do not leave this section blank

If the name is incorrect, the recipient may have trouble depositing or cashing the money order. Once the recipient's name is written, only that person should be able to cash or deposit the money order with valid identification.

Step 2: Fill out the sender's name and address

Write your own information in the purchaser or sender section. The form may ask for: full name, address, city and state, phone number. This helps identify who purchased the money order if there is a problem later.

Step 3: Sign the front and add a memo

Sign only where the purchaser or sender is instructed to sign on the front.

Do not sign the back.

The back is reserved for the recipient when they cash or deposit the money order.

Some money orders also include a memo or account number section. Examples: apartment number for rent, utility account number, invoice number, purpose of payment.

Step 4: Keep your receipt

The receipt usually contains: tracking information, serial number, purchase amount, date of purchase.

Keep the receipt until the money order has been cashed or deposited successfully. If the money order is lost, stolen, or delayed, the receipt may help you: request a replacement, verify whether it was cashed, contact customer support, file a claim.

Common mistakes to avoid

Leaving fields blank:

Fill out the money order completely before handing it over or mailing it.

Using incorrect recipient information:

Misspelled names or incorrect business information can delay the payment process.

Signing the back:

Only the recipient should sign the back of the money order.

Throwing away the receipt:

Always keep your receipt until the payment is confirmed.

Using pencil or unclear handwriting:

Use permanent ink and write clearly.

Mailing cash instead:

Money orders are generally safer than sending cash through the mail.

Alternatives to money orders (digital options)

Common digital alternatives include: Venmo, Cash App, bank transfers, debit card payment apps.

For people who regularly send money within the United States or to Latin America, Común offers digital transfer options through ComunPay.

ComunPay allows eligible users to send money using: payment links, QR codes, phone numbers, email addresses, usernames, debit cards. Unlike traditional mailed money orders, digital transfers inside apps can usually be tracked directly from the phone.

Común also offers international remittances to Latin America starting at $2.99.

Choosing the right payment option for your needs

Money orders continue to play an important role for many people in the United States, especially for rent payments, government forms, mailed payments, or situations where paper documentation is preferred. For everyday sending between family members, friends, or trusted contacts, digital payment tools may feel more practical and easier to track.

FAQ

How much does a money order cost?

Money orders typically cost between $1.45 and $10 depending on the issuer, amount, and location. USPS money orders commonly range from $1.45 to $1.95.

Can a money order be cashed by anyone?

No. Once the recipient's name is written, only that person should be able to cash or deposit it with valid identification.

How long is a money order valid?

Many money orders do not expire. USPS money orders do not expire.

What happens if I make a mistake on a money order?

Avoid crossing information out. Contact the issuer about replacement options.

Can I track a money order?

You can usually verify whether it was cashed by contacting the issuer with your receipt information.

What is a digital alternative to a money order?

Venmo, Cash App and ComunPay for peer-to-peer transfers. Común also offers international remittances to Latin America starting at $2.99.

Común is a financial technology company and not a bank. Banking services are provided by Community Federal Savings Bank, Member FDIC. The Común Visa® Debit Card is issued by Community Federal Savings Bank. Peer-to-peer payments services are provided by Cross River Bank. No minimums, no maintenance fees. Remittance service provided by Service UniTeller, Inc. Remittance fees start at $2.99 but may vary. Común Inc. may earn revenue from the conversion of foreign currencies.

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International money transfers can be sent via bank wire, money transfer apps, or remittance services — each with different fees, speed, and delivery options. With Común, transfers to Latin America start at $2.99, with most arriving within minutes.

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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What are the main ways to send money internationally?

Bank-to-bank wire transfers, dedicated money transfer apps, and remittance services are the three main options, each with different costs and delivery times.

What should I compare between international transfer options?

The fee, exchange rate, delivery speed, and whether the recipient needs a bank account or can pick up cash.

How does Común handle international transfers to Latin America?

Transfers start at $2.99, with your first transfer at no cost. Delivery options include bank deposit or cash pickup at locations like Elektra and Oxxo in Mexico, with most transfers arriving within minutes.

Frequently asked questions

What's the cheapest way to send money internationally?

It depends on the corridor and amount; always compare the fee AND the exchange rate, since a low fee can hide a worse exchange rate.

Do I need a bank account in the destination country to receive money?

Not always — some services, including Común, offer cash pickup options that don't require a bank account.

How long do international transfers usually take?

It varies by method — bank wires can take days, while modern remittance apps like Común often deliver within minutes.

Are international money transfers safe?

Yes, when using a licensed provider that's transparent about fees and exchange rates before you confirm.

What information do I need to send an international transfer?

Typically the recipient's name, destination country, and either their bank account details or pickup preference, depending on the method.

Does Común charge for international transfers?

Fees start at $2.99 per transfer, with your first transfer at no cost.

As an immigrant in the United States, you have likely been asked for proof of income to complete a procedure such as obtaining a loan, renting an apartment, or verifying financial solvency and ability to pay.

Such proof is a document that verifies the amount of your income as well as its source.

This time, we explain what proof of income is in the USA, what it is for, how to make an income letter if you are paid in cash, and everything you need to know to handle your procedures in the United States without complications.

What is proof of income?

Broadly speaking, proof of income is an official or informal verification of how much money a person earns and the sources from which that income comes.

This document is commonly used for both salaried employees and independent or freelance workers.

These are the most common types of documents used to verify income:

Pay stub:

This is an official document that serves as a payment receipt and is provided by the employer along with wages for the relevant pay period. It includes both parties’ details, base pay, hours worked, overtime (if applicable), and deductions for taxes.

Tax return:

The tax return is a document a person files annually with the Internal Revenue Service (IRS). It must include income earned, taxes withheld, deductions or credits, and the total tax due or refund.

Bank statements:

This is a report issued by a bank or financial institution detailing a customer’s transactions and balances in their bank account over a given period. It serves as an official document to corroborate a person’s solvency as well as other personal data.

What is proof of income used for in the U.S.?

Having proof of income is very useful for various procedures in the United States, as well as to access helpful benefits and simplify your life—for example, signing a lease, obtaining a loan, and completing relevant immigration procedures. Proof of income is essential in these processes because it gives the requesting party assurance.

Housing rental:

Landlords commonly request proof of income to sign a lease, as it helps ensure tenants can cover the monthly rent without delays.

Loan or certain credit card applications:

Banks and other financial institutions usually verify applicants’ income before approving credit, since this reduces the risk of nonpayment or delinquency.

Immigration or social security procedures:

Immigration procedures—such as obtaining permanent residence—and other social security benefits also require proof of income. This is a measure implemented by the U.S. government to ensure applicants will not become a public charge.

What can I use as proof of income?

Whether you have formal employment or are self-employed, there are several documents you can use as proof of income.

For employees with formal jobs

If you have a formal job, obtaining proof of income will be easier. As noted, you can present a pay stub, bank statement, or an employer letter.

For independent workers

If you are self-employed, verifying income may be a bit more challenging than for formal employees. In this case, you can present your annual tax return and bank statements.

If none of these options are available, you can draft an income letter, which should include the following information.

• Full name.

• Address.

• Social Security Number or ITIN.

• Description of independent economic activity.

• Average monthly income.

• Signed statement of truth.

• If possible, attach a bank statement.

How can I verify my income if I’m paid in cash?

If you receive your pay in cash, you can generate formal proof of income.

The first option is to create a signed income letter. You can also keep an income log in a spreadsheet. To make the process easier, it is advisable to seek support from an accountant.

How can you make an income-verification letter?

Fortunately, drafting an income-verification letter is not complicated, since it can be adapted to your work situation—even if you are paid in cash.

It is also a simple path for immigrants because it lets them use day-to-day documents.

Follow these steps to draft your income letter.

Step 1: Gather your documents

Any document that can help verify your income, even if it is not strictly a pay stub—such as a bank statement, fee receipts, invoices, etc.

Step 2: If you are self-employed, draft a self-employment income letter with basic data

Don’t forget to include your average income and signature.

Step 3: Verify that it includes your personal data and the income period you are declaring

It is very important to include your full name, address, and the dates that the declared income covers.

Step 4: If necessary, consult an accountant to make it more formal

An accountant will help you formalize your letter and gain better control of your personal finances and tax obligations.

Sample income letter

I, (full name), residing at (address), declare under penalty of perjury that I work as an independent contractor in the field of (description), with an average monthly income of (amount).

Copy this text and create your letter easily.

Use Común account statements as your proof of income

As you can see, proof of income is a formal document to verify a person’s income level as well as their ability to pay and financial solvency. You can use several documents for this purpose, such as a pay stub, annual tax return, and bank statement from traditional banks.

Común is the financial platform that can also help you record and organize your income, and generate account statements that can serve as valid proof in many situations.

It also offers a more accessible way to complete procedures through an easy-to-use mobile app available in Spanish, where you can quickly open an account using qualifying official identification from your country of origin.

Discover Común, a convenient financial option for those seeking simple and accessible solutions.

Frequently Asked Questions (FAQ)

If you still have questions, consult our FAQs.

What if I don’t have formal proof of income in the U.S.?

You can draft an income letter including your personal data, a description of your activity, average income, and signature.

Do proof-of-income documents from my country work in the U.S.?

Proof-of-income documents from your country can be accepted in the United States as long as they are official; in some cases, a certified translation may be required.

Which type of proof of income is most widely accepted?

The most widely accepted proof-of-income documents are pay stubs, tax returns, and bank statements.