Basic requirements to file taxes for the first time in the United States

Although getting a job in the United States brings a series of benefits for the quality of life of immigrants and their families, it also means committing to fulfilling the obligations required by the country's laws.

Filing a tax return is one of the processes everyone who has earned income must complete. This is done by submitting a report of annual income to the Internal Revenue Service (IRS).

Filing a tax return is particularly important for everyone, as it opens the door to access financial services such as mortgage and  personal loans, which in turn help build a financial record especially for immigrants.

Filing taxes is a stressful and often confusing process for most people, especially when it involves understanding the tax institutions of another country.

Below, we show you a step-by-step guide to help you fulfill your tax obligations in the U.S. and access the benefits that come with it, such as receiving refunds and building a financial record in the country.

What documents do you need to file your taxes?

The first thing you should know to file your tax return in the U.S. is the documentation required by the IRS to process your information.

Make sure you have the following documents:

• Tax Identification Number: if you do not have a Social Security Number (SSN), you must apply for an Individual Taxpayer Identification Number (ITIN).

• Qualifying official identification from your home country: valid passport, driver’s license, or any official document that verifies your identity.

• Proof of income: W-2 forms if you are a salaried employee and your employer withholds taxes, and Form 1099 if you are self-employed.

• Proof of address in the United States: utility bill or rental agreement.

• Financial information: checking account and routing number to receive your refund through direct deposit, if any.

Tax preparation: step by step for your first filing

It is important to stay alert during tax season and prepare in advance to meet the deadlines established by law.

Follow these steps to ease the stress of tax obligations.

Step 1. Gather all your documents

The first step is to gather all the necessary documents to file your annual tax return.

• Form W-2: this document details your salary and the amount of taxes already withheld; request it directly from your employer.

• Form 1099: used by people who work independently.

• Benefit or assistance letters: if you receive any government benefit or tax credit, the IRS sends letters to include in your tax return.

Step 2. Choose how to file

Once you have your documentation in order, you must decide how you will file your return: on your own or with professional help.

• Self-prepared tax filing: you can use various IRS-approved tax preparation software such as IRS Free File, TaxSlayer, or TurboTax, which simplify the process by automatically calculating your taxes.

• With the help of a tax preparer, if you have multiple income sources or are self-employed, the best option is to hire an authorized preparer to ensure everything is filed correctly. You can also go to a community organization that offers low-cost assistance.

Step 3. File your tax return in the United States on time

Keep in mind that the deadline to file your tax return is usually April 15 each year. It is essential to submit your tax return within the deadline to avoid penalties and delays in receiving your refund.

How much does it cost to file taxes, and which option is best for you?

As mentioned before, there are different ways to file your tax return, which vary in cost and level of support offered. The best option depends on several factors, such as your income level and how familiar you are with tax topics.

Below is a comparative table of the different ways to file taxes in the United States.

Method

Approximate cost

Level of support

Doing it yourself with IRS-approved software

Free or up to $25

Low. Although the platform guides you step by step, you must enter all the information yourself.

With the support of community organizations

Free or up to $50

Medium. You receive assistance from certified volunteers.

With private preparers or accountants

$150 to $500, depending on complexity

High. The preparer does all the work and answers your questions.

Practical tips to avoid mistakes in your first tax filing

If this is your first time filing taxes in the United States, it may seem like a very complex task. Keep these tips in mind to ease the stress associated with the process.

• Don’t wait until the last minute to file: keep the deadline in mind and prepare several weeks in advance.

• Verify that all forms match your income: remember that the required form depends on your type of work. Make sure your income matches what you report.

• Keep copies of all submitted documents: create both a physical and digital file to have every record handy.

• Check official IRS resources for immigrants: always access official websites ending in .gov.

• Avoid relying on third parties that promise higher refunds: remember that tax preparers or community organizations must be certified by the IRS to ensure your filing is done properly and your personal data remains secure.

Común, your financial support after filing your taxes

We’ve shown that the tax filing process is not as complicated as it seems. Now you know which steps to take and which method to use based on your situation.

Just as filing taxes helps you organize your financial situation, Común helps you manage your day-to-day finances.

Discover all the benefits of Común!

• Open a checking account with a qualifying official identification from your home country.

• Mobile app available in Spanish and English, specially designed for the immigrant community.

• Ability to receive your tax refund directly into your account.

• Debit card for daily expenses and international money transfers to Latin America.

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

Frequently Asked Questions (FAQ)

If you still have questions, check this section.

What happens if I don’t file my taxes in the U.S.?

Not filing your tax return may result in IRS penalties, accumulated interest, and withheld future refunds.

Can I file taxes without a Social Security Number?

If you do not have a Social Security Number, you can apply for an ITIN.

Is it better to file my taxes myself or with a tax preparer?

It depends on your situation: if you have only one source of income, you can use software, but if your income is higher or more complex, the best option is to consult a professional.

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

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

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

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

3. Sin Tarifas Absurdas

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

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

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

5. Servicio al Cliente de Primera Clase

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

6. Remesas Asequibles

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

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

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

8. Acceso Temprano a tu Cheque de Pago

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

9. Notificaciones Instantáneas e Inicio de Sesión Seguro

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

Una Breve Historia de las Plataformas Bancarias

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

La Evolución de la Banca

Banca Tradicional:

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

El Surgimiento de la Banca en Línea:

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

Banca Móvil:

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

Neobancos y Plataformas Solo Digitales:

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

¿Por Qué Elegir Común?

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

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

Alien Registration Number or A-Number: Everything you need to know if you’re in the United States

Immigrants living in the United States should become familiar with several terms and procedures to ensure their long-term stay in the country.

One way to compile all the information related to your immigration process is through the A-Number or Alien Registration Number. This identifier is assigned by the Department of Homeland Security (DHS) to foreign nationals residing in the country.

It’s very important to know this information, as it serves as the identification number for your immigration file.

In this article, we’ll explain what the Alien Registration Number is, what it’s used for, and why it’s so important for immigration procedures.

What is the Alien Registration Number (A-Number) and what is it for?

The first step to identifying an A-Number is knowing that it always begins with the letter “A” and contains 8 or 9 digits.

The main function of this number is to allow USCIS and other agencies to quickly track immigration cases and applications related to each person.

Here are some examples of when the A-Number is used:

• To track your permanent residence (Green Card) application.

• When you apply for a work permit (EAD).

• If you apply for an adjustment of status, your A-Number will be used to link your case file.

Where can you find the Alien Registration Number, and who receives it?

To locate your A-Number, you can check several official documents issued by USCIS or DHS, such as:

• Green Card

• Employment Authorization Document (EAD)

• USCIS notices

• Immigration court orders

Do you know the difference between an ITIN and an SSN? This article explains everything you need to know.

How to identify the A-Number

Below we break down how the A-Number appears on various official documents.

Document

Location

Permanent Resident Card

On the front, next to “USCIS#” or “A#.”

Work Permit (EAD) 

On the front

USCIS Notices

In the upper corner or near the applicant’s name

Immigration court documents

At the top of the document.

This is a unique number assigned only to individuals with formal and permanent files in U.S. immigration agencies, such as:

• Permanent residents (Green Card holders).

• Refugees or asylees.

• Adjustment of status or work permit applicants.

• Individuals with open cases before immigration court.

On the other hand, temporary visitors such as tourists, students, or non-immigrant visa holders do not receive an A-Number since their cases do not require a permanent immigration file.

Do you already have an ITIN in the United States? This article explains all the benefits of this identifier.

Why is the Alien Registration Number important in immigration procedures?

The A-Number is a central identifier used in multiple immigration procedures needed to regularize your status in the country.

Here are the most common uses of the A-Number in immigration processes.

Tracking immigration cases (USCIS Case Status)

If you want to track the status of your pending applications, such as permanent residence, work permit, or adjustment of status, you need to enter your A-Number in the USCIS Case Status system.

This way, you can know exactly which stage your case is in and stay informed of updates to ensure your process stays on track.

Updating personal information

It’s essential to keep your immigration records updated. If you change your address, phone number, or legal name, your A-Number will help you update your information.

This helps ensure you receive official notifications and avoid delays in important procedures.

Avoiding mistakes in immigration processes

Since the A-Number functions as a unique identifier, it also helps avoid confusion between applicants with the same or similar names.

Be sure to use your A-Number correctly when filling out forms or official documents so that all your information stays under the same file and saves time when searching for a document or specific information.

In short, this number helps simplify the immigration process for immigrants and provides a sense of security and control during procedures that can often cause stress and uncertainty.

What to do if you don’t have or don’t remember your A-Number

If you don’t have an A-Number, remember that USCIS assigns one once you start an immigration process in the United States. If you already have one but can’t remember it, follow these tips to locate it.

• Check your official documents, such as your Green Card, work permit, or any forms submitted to USCIS.

• Log in to your USCIS online account and check the “manage your case” section.

• Call the USCIS Contact Center at 1-800-375-5283, explain that you can’t find your A-Number, and ask for assistance locating it.

Avoid using a fake A-Number, as this could cause problems with immigration authorities.

Organize your immigration life while managing your finances with Comun

As you can see, the A-Number is essential to staying organized during immigration procedures. It helps keep your documents together in one file, making them easier to locate and reducing the risk of delays caused by mistakes.

Another important aspect of immigrant life in the U.S. is having the right tools to keep personal finances organized.

Meet Comun, the platform designed to help immigrants manage their finances with ease.

Here are some of the benefits Comun offers:

• Open an account with a qualifying official identification from your home country.

• Send money to several countries with clear and competitive fees, up to the applicable limits.

• Access support in both Spanish and English.

Want to discover a truly fair and accessible financial service? Open your Comun account today!

Just as your A-Number helps you keep your immigration documents organized, Comun helps you maintain your financial stability in the United States.

Frequently Asked Questions (FAQ)

If you still have questions, check out our FAQ section.

What is the USCIS number? Is it the same as the A-Number?

The USCIS number appears on your permanent resident card or work permit. It’s actually the same identifier as your A-Number, which appears on these documents preceded by “USCIS#.”

What is the Alien Number?

The Alien Registration Number is the official name for the A-Number assigned by DHS or USCIS to individuals who are not U.S. citizens, allowing them to track their immigration process through a unique file.

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Sending Money to Latin America? What You Need to Know About the New 1% Tax

If you send money home to Mexico, Guatemala, Colombia, El Salvador, Honduras, or anywhere else in Latin America, a new federal law may affect the fees you pay per money transfer, depending on how you send it.

On July 4, 2025, the United States enacted the One Big Beautiful Bill Act (OBBBA), Public Law 119-21, which introduced a new federal excise tax on certain international money transfers. The tax, set at 1% of the transfer amount, applies to remittances made on or after January 1, 2026. However, not all transfers are taxable.

If you send money from a US bank account or using a US-issued debit or credit card, your transfer is exempt from the tax by statute. The tax applies only when you pay with cash, a money order, a cashier's check, or a similar physical instrument.

Understanding whether this tax applies to you and how it may affect your transfers can help you send money home with fewer surprises.

What Is the New 1% Remittance Tax?

It imposes a 1% federal excise tax on certain outbound remittance transfers, meaning money sent from a sender in the United States to a recipient in a foreign country, through a remittance service provider.

The tax is codified under IRC Section 4475, added to the Internal Revenue Code by Section 70604 of the OBBBA. It applies to all senders, regardless of citizenship or immigration status.

The tax was effective for transfers made after December 31, 2025, with collection beginning January 1, 2026.

Who Pays the Tax? Who Doesn't?

The key factor is how you fund the transfer, not how much you send, not where it goes, and not your immigration or citizenship status.

This means that if you often send money back home with a remittance service provider with physical locations (for example Western Union or MoneyGram) and pay with cash, a 1% tax will be added to your total transfer amount.

However, if you send money through a digital app or bank account linked to your US checking or savings account, or pay with a US-issued debit or credit card, the transfer is exempt from the tax under Section 4475.

How Is the Tax Collected?

The tax is collected at the point of transfer. When a taxable transaction occurs, the remittance transfer provider is responsible for collecting the 1% from the sender at the time the transfer is made.

Providers must then deposit the collected taxes with the IRS on a semimonthly schedule and file quarterly returns.

The Remittance Landscape in 2026

For millions of families across Latin America, the money that arrives from a relative in the United States can pay the rent, cover school fees, or put food on the table. In 2024, Latin America and the Caribbean received an estimated $161 billion in remittances, the vast majority sent from the US. Mexico alone received over $63.3 billion. In countries like El Salvador, Guatemala, Nicaragua, and Honduras, remittances represent between 19% and 26% of GDP.

For people already stretching every dollar between their own expenses in the US and the needs of family back home, an additional cost on each transfer can have an impact. How much it affects you depends largely on the tools available to you.

Cash agent networks (Western Union, MoneyGram, Intermex):

These are the traditional in-person options, often used by senders who mostly manage cash. Transfers funded with cash at these locations are subject to the 1% tax.

Digital apps (Remitly, Wise, Xoom, Común, and others):

These platforms typically process transfers from a linked US bank account or US-issued debit or credit card. These payment methods are exempt from the tax under Section 4475. However, fees and exchange rate margins may vary by provider.

Bank wire transfers:

Transfers sent directly from a US bank account at a Bank Secrecy Act–compliant institution are exempt from the tax by statute. Bank wire fees can be higher than digital app fees.

What This Means for You

If you send money home regularly, you already know that there are costs involved: transfer fees, exchange rate margins, sometimes a fee on the receiving end. Now, depending on how you send money, there may also be a new 1% federal tax. That may not sound like much in isolation, but if you're someone already careful about managing what to keep and what to send, it can add up.

There is no single right answer for everyone. Some people that have a US bank account can shift to a digital transfer method. Others who don't have that option yet, or may have reasons for continuing to send through an agent location. Whatever your situation is, a few things may help:

Know what you're being charged:

Before confirming any transfer, you should be able to see the fee, the exchange rate, any applicable taxes, and the exact amount your family will receive. Review everything before you hit send. Some service providers, like Común, offer in-app tools to help you calculate the costs before sending anything.

Compare the total cost:

A provider that charges no transfer fee but offers a weaker exchange rate can potentially cost more than one with a modest flat fee and a fair rate. The number that matters is what arrives on the other end.

If you have a US bank account or debit card, ask your provider about your options:

Transfers funded from a US bank account or US-issued debit or credit card are exempt from the tax under the current statute.

Ask your provider directly how they handle the tax:

Some providers may have updated their apps, websites, or agent instructions. If you're sending via a digital channel linked to your US bank account or debit or credit card, ask whether that payment method qualifies for the statutory exemption.

Manage your remittances confidently with Común

Having an account to receive electronic payments, track your spending, and send money directly may help make managing your financial life in the U.S. more convenient. Común accepts more than 100 valid Latin American IDs to open a debit account. With Común you get:

• A $2.99 flat fee per remittance transfer, with no hidden charges
• A checking account held at Community Federal Savings Bank, Member FDIC. Deposits are FDIC insured up to the applicable limits
• Transparent, in-app pricing where you can see exactly what each transfer will cost, including fees and the exchange rate, before you confirm
• 24/7 customer support in Spanish
• Cash pickup options for your recipient
• The ability to send transfers from the comfort of your phone

To learn more about Común's remittance services, visit comun.app/remittances.

FAQ

What is the new 1% Remittance Tax?

It is a federal excise tax introduced by the One Big Beautiful Bill Act (OBBBA), Public Law 119-21, codified as IRC Section 4475. It imposes a 1% tax on certain outbound money transfers from the United States to recipients in foreign countries. It applies only to transfers funded with cash, money orders, cashier's checks, or similar physical instruments.

When does the new remittance tax take effect?

The tax applies to remittance transfers made on or after January 1, 2026. It was signed into law on July 4, 2025, as part of the OBBBA. The IRS granted penalty relief to providers for the first three quarters of 2026, with full enforcement expected beginning Q4 2026.

Who has to pay the 1% tax?

The tax is owed by the sender, but it is collected and remitted to the IRS by the remittance transfer provider at the time of the transfer. It applies to all senders, regardless of citizenship or immigration status.

Are all money transfers from the US subject to the new tax?

No. The tax applies only to transfers funded with cash or physical instruments. Transfers funded from a US bank account at a Bank Secrecy Act–compliant institution, or paid with a US-issued debit or credit card, are exempt from the tax by statute.

How is the tax collected?

The remittance transfer provider collects the 1% tax from the sender at the time of transfer. Providers must deposit collected taxes with the IRS on a semimonthly schedule and file quarterly returns using Form 720.

How can I tell if my transfer is taxable?

It depends on how you're funding the transfer. If you are paying with cash, a money order, or a cashier's check at a remittance agent, the 1% tax likely applies. If you are sending money through a digital app or bank account using your US checking account or a US-issued debit or credit card, the transfer may be exempt under the current statute. Ask your provider directly to confirm how your specific payment method is classified.

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What is the CVV on a card?

Nowadays, making purchases with a credit or debit card in physical stores and online is an essential activity for acquiring everyday goods.

Security in these operations is essential. For this, these payment methods use the CVV or CVC code, which means Card Verification Value or Card Verification Code respectively, and its purpose is to verify that the cardholder has the physical card and to protect online and phone purchases.

Below, we will explain in detail what the CVV is, where to find it, the types of security codes, and tips to keep your cards secure.

Where to find the CVV on your card?

If you are going to make purchases online or by phone, you will need to provide the security code of your debit or credit card to verify it belongs to you.

In most cases, the CVV is located on the back of the card and consists of 3 or 4 numbers.

Here is a quick guide to locating the verification code depending on the card type.

Card type

Where to find the CVV?

How many digits does it have?

Visa

Usually on the back, next to the magnetic stripe.

3

Mastercard

Usually on the back, next to the signature.

3

Discover

Usually on the back, to the right of the signature.

3

American Express

Usually on the front, next to the card number.

4

One way to strengthen security during electronic transactions is the use of a dynamic CVV, which is found in digital applications or cards and is valid only for a limited time to make a single purchase. This reduces the risk of misuse of your personal data if it is exposed.

What is the CVV for and why is it important?

The CVV number is a security lock that allows you to use your physical and digital cards with confidence that a third party cannot access your money.

These are the most important functions of this security code.

• Holder verification:

It is especially useful for protecting electronic operations by verifying that the cardholder is the one making the purchase.

• Security in online purchases

When making an online purchase, you must enter the card’s CVV to validate the transaction. This process is more secure when using a dynamic CVV because it reduces the risk in case of fraud.

• Fraud prevention

Unlike other data usually included on physical cards, such as the number and expiration date, the CVV is not stored in online store systems, so your data remains safe in case of potential identity theft.

The purpose of the CVV is to provide you with security and peace of mind when making online purchases.

CVV, CVC, and CVV2: how are they different?

You may notice different types of CVV since the name can vary depending on the card issuer.

These are the security codes most commonly used by financial institutions to protect users’ cards.

CVV

The CVV (Card Verification Value) is the security code created for Visa cards. It consists of 3 or 4 digits and is used to confirm that the person making the purchase actually has the card.

CVC

The CVC (Card Verification Code) is the version of the CVV used by Mastercard cards. It has the same function and a similar composition.

CVV2

The CVV2 (Card Verification Value 2) is a digital version of the CVV used to provide greater protection in online purchases. While the traditional CVV is used during payments at card terminals, the CVV2 is requested to confirm remote transactions.

4 tips to use your card safely

Some people avoid or minimize the use of physical or digital cards due to fear of having their personal data stolen and generating unauthorized charges. However, financial institutions and digital platforms currently offer the necessary security measures to protect your assets.

Thanks to the implementation of codes such as the CVV, the risk of experiencing a security incident is minimal and decreases even more when you have the right information to apply practical strategies like the following.

• Do not share your CVV or write it in visible places: avoid having this code leaked to third parties. Remember that it is the number used to verify online purchases and that no financial institution requests sensitive data over the phone, so make sure to use the CVV responsibly.

• Use only secure payment sites (https://): if you need to make an online purchase, make sure the site has the required security measures to process electronic payments.

• Activate notifications or dynamic CVV if your bank offers it: enable notifications in your banking application and try using the dynamic CVV when shopping online. This allows you to generate a new CVV for each purchase.

• Review your transactions regularly: check your statement and transaction history frequently. If you detect any irregular activity, report it to your bank immediately.

Bank cards are useful tools that require responsible and cautious use. Learning to use your card safely and confidently is also part of building financial stability.

Manage your money and make payments securely with Comun

This time we explained what the CVV or CVC is, why it is important, and gave you some tips to keep your checking accounts secure.

The security provided by the CVV is the same you need in all your financial operations, such as digital payments, cash deposits, and international money transfers. For this, you have Comun, the digital platform specially designed for immigrants living in the United States who want to manage their money safely and without complications, with clear and competitive fees.

Comun is the financial platform that truly understands your needs and offers fair, tailored solutions.

Open your Comun account and start managing your money in the United States with confidence. Send, receive, and monitor your expenses from the mobile app.

Frequently Asked Questions (FAQ)

If you still have questions, check the following section.

What happens if I give my CVV to someone else?

It is not advisable to give your CVV to someone else, as they could make purchases not authorized by you. Make sure to protect your banking information so only you have access to it.

Is the CVV the same as the card number?

No, the card number consists of 16 digits and identifies the checking account. The CVV consists of 3 or 4 digits and verifies that the holder is the card owner.

Can I make purchases without a CVV?

In physical stores, it is not strictly necessary, as the purchase is validated with the chip and PIN. For online purchases, it is essential to enter the CVV to authorize the transaction.

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

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

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

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

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

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

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

#1 Choose a remittance provider

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

#2 Select the destination country and delivery method

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

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

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

#4 Pay for the remittance

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

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

#5 The recipient receives the money

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

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

The total cost depends on two main factors:

1. Service fees

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

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

2. Exchange rate costs

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

3. Other possible additional costs

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

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

To choose the best option, you can always consider:

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

What Companies Offer Remittance Services from the United States?

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

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

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

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

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

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

Requirements vary by provider and they depend on:

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

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

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

Traditional banks and companies like Western Union generally require:

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

How can you send remittances using Comun? 

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

Through the Comun App

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

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

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

Through Comun’s WhatsApp

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

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Best Practices for Sending Remittances

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

1. Verify the exchange-rate margin

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

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

3. Consider timing and holidays in both countries

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

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Difference Between a Savings Account and a Checking Account

Need a safe, simple way to manage your money? It’s important to understand the different bank account types offered by U.S. financial institutions and digital platforms.

Two primary examples are savings accounts and checking accounts. While common in the U.S., they differ in important ways especially relevant when you’re new to managing money in a new country.

It’s easy to assume both accounts do the same thing. Below, we detail what each account is, the main differences, comparisons, and examples.

What is a checking account?

A checking account is one of the most popular financial products. It’s designed for frequent transactions: receiving pay, sending transfers, and paying at physical and online merchants.

These are the main benefits of opening a checking account:

• Allows frequent deposits and withdrawals.

• Includes a debit card for purchases.

• Makes bill payments and transfers easy.

• Ideal for day-to-day income and expense management.

• Access to mobile/online banking.

• Some still offer paper checks for secure payments.

What is a checking account used for?

A checking account has multiple functions, for example:

• Receive your paycheck via direct deposit—securely and quickly.

• Pay utilities like electricity, water, or internet.

• Make purchases online or in stores.

• Withdraw cash at ATMs or participating retailers.

• Send money transfers to others easily.

• Track your money in real time.

In short, this account type covers everyday needs with simple, accessible tools.

Here’s where you can learn about different checking account types and their features.

What is a savings account?

Unlike checking, a savings account is for setting money aside longer term and growing it through interest.

Advantages of a savings account:

• Fewer routine transactions; focused on building funds.

• Can earn interest on your balance.

• Useful for mid- to long-term goals.

• Generally limits monthly withdrawals.

• Ideal for an emergency fund or setting aside money for unexpected expenses.

Want to understand how bank accounts work in the U.S.? Don’t miss our explainer with all the details.

Key differences between checking and savings

Though different, both accounts complement each other to cover short-, mid-, and long-term financial needs.

These are the main differences between them.

Access and usage

• Checking: money is available anytime for daily transactions—transfers, cash withdrawals, and bill payments via cards and digital channels.

• Savings: access is more limited because the goal is saving and growth; transfers are still possible.

Interest earnings

• Checking: most don’t pay interest; those that do tend to offer very low rates.

• Savings: the core feature is interest over time—protecting and growing funds without high-risk investing.

Learn about joint bank accounts, an excellent way to manage finances as a team.

Primary purpose

• Checking: mainly for short-term holding to cover daily expenses, receive wages, and make purchases with a debit card.

• Savings: to keep money safe and earn interest so it doesn’t lose value to inflation; a reserve for emergencies or long-term plans like trips, celebrations, or moves.

Costs and requirements

• Checking: many have monthly maintenance fees, often waived with a minimum balance or regular direct deposits.

• Savings: typically fewer fees than checking, but may require a minimum balance to avoid charges; some require keeping funds for a set period before withdrawal.

As you can see, the decision to open a checking or savings account depends on your needs. However, combining both is a strategic decision for financial management. On the one hand, a checking account allows you to keep up with daily payments, while a savings account is designed to plan for the future and keep your money separate.

Manage your money in the U.S. with Común

In this article, you learned the difference between checking (for daily transactions) and savings (for growing money over time to meet future goals).

Immigrants arriving in the U.S. need bank accounts that offer security and trust, yet often face hurdles due to strict requirements that disadvantage many in the community.

Meet Común, the checking account that understands immigrants’ needs!

Here are some benefits that await you:

• Checking account with clear, competitive fees.

• International money transfers with affordable costs.

• Mobile app also available in Spanish and  accepts 100+ qualifying official IDs for account opening.

• Debit card for everyday purchases and payments.

Open your Común account today and organize your money in the U.S.

Frequently Asked Questions (FAQ)

If you still have questions, check out our FAQ section.

Which is better, checking or savings?

It depends on your needs. If you're looking for an account for everyday transactions, such as transfers and deposits, receiving paychecks, and making utility payments, a checking account may be an option. If you want to save your money for the long term, consider a savings account.

Can I have both checking and savings?

Yes, you can separate your goals and organize your money. Use a checking account that supports domestic and international transfers with clear, affordable fees, and keep a savings account to plan long-term.

Which account suits newly arrived immigrants best?

Común is a financial platform with accessible onboarding requirements and fair, competitive pricing.

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Buying a house in the U.S. is a process that is not legally restricted for the immigrant population. However, it is more complicated for this group due to certain specific requirements requested.

According to a recent article, obtaining financing is more difficult for immigrants due to obstacles such as lack of credit history, immigration status, and the need to have an SSN or ITIN.

If you plan to live in the United States and believe you are far from meeting the necessary requirements to buy a house there, below we present the complete guide so you can acquire a property for the first time.

Is It Possible to Buy a House in the United States as a Foreigner?

Unlike several Latin American countries, in the USA it is possible to acquire a property without being a U.S. citizen, as long as a series of requirements are met to carry out the purchase process.

This process is completely legal and increasingly common, as it is possible with good financial preparation and the necessary documentation. According to Realtor, during 2024 more than 43,700 homes were acquired by immigrants. This confirms the viability of the transaction.

Although it is not necessary to have citizenship or permanent residence to buy a house, it is true that immigration status and the fulfillment of other requirements can influence the steps to access mortgage loans and other financing options.

Requirements to Buy a House in the United States

The first step in buying real estate in the United States is to gather the requested documentation and have the financial solvency needed to cover the price of the property.

Identity Documents

These are the essential documents you must gather before buying a house.

Passport

You must present your valid passport and visa as primary identifications that will serve to validate your identity.

Tax Identification Number

Generally, lenders request the SSN, but if you do not have one, it is also possible to present the ITIN.

Financial Preparation

If you have the price of the property in cash, it will be much easier to complete the purchase process. Otherwise, you must undertake the appropriate financial preparation to access financing programs suitable for you.

This is the step-by-step process we recommend you follow to ensure you can cover the installments of your first house in the United States.

Proof of Income

It is essential that you can prove stable income to obtain a mortgage, since lenders want to ensure that applicants are able to cover monthly installments and other payments associated with the purchase of a property.

Immigrants have the option of presenting documents issued inside and outside the country, but they must be translated and certified.

Employment Letters

An employment letter issued by the employer is a common way to prove income.

This document must include:

• Company name and contact details

• Applicant’s position

• Date of entry into the company

• Annual or hourly salary

• Signature and position of the issuer

Banking Account

The lender may also request bank statements from the last 3 months to verify steady income consistent with the declared salary. In addition, they evaluate the existence of overdrafts and the applicant’s savings capacity.

Funds Available for Down Payment and Closing

It is essential that you demonstrate solvency to cover the following payments.

• Down payment: ranges from 3% to 20% of the property value, depending on the type of loan

• Closing costs: notary fees, insurance, and loan fees

7 Steps to Buy a House in the United States

Step 1: Research the real estate market and define where you would like to buy

Before choosing a property, research the real estate market, the average price in each area, and access to basic services in the neighborhood of your interest. States like Texas are characterized by an 18% lower cost of living than the national average and a high presence of the immigrant community.

Below we show you a comparative table of the range of housing prices in different cities, according to Zillow.

Price table

Step 2: Calculate How Much You Can Spend and Set Your Budget

It is very important that you carry out an analysis of your payment capacity, according to your income and monthly expenses.

Calculate how much money you spend per month and whether you will be able to cover the corresponding installments with the remaining money, as well as the amount you have saved at the moment.

Step 3: Choose a Real Estate Agent with Experience in International Clients

A real estate agent with experience in international clients will be of great help in streamlining the process, as they know well the special requirements as well as the most common barriers faced by immigrants. In addition, the real estate agent can help you with negotiation and with comparing housing prices.

Step 4: Request a Mortgage Pre-Approval if You Plan to Finance the Purchase

It is not mandatory to request mortgage pre-approval, although it does offer you certain benefits, such as greater solidity when presenting an offer, in addition to showing you the amount the bank could lend you.

Step 5: Visit Properties and Make a Formal Offer for the One You Are Interested In

Once you find a property ideal for your lifestyle, your real estate agent must prepare a formal written offer, which can be accepted, rejected, or renegotiated by the owner.

Generally, a guarantee deposit is delivered to endorse the purchase commitment.

Step 6: Carry Out the Inspection and Professional Appraisal of the Property

The inspection is vital to detect structural problems that affect the value of the house and to carry out the official appraisal that will be confirmed by the bank.

Step 7: Sign the Documents and Make the Final Payment at Closing

On the long-awaited closing day, you must sign a series of documents and carry out the following procedures:

• Mortgage signing, if applicable

• Signing of the property transfer

• Transfer of down payment and closing costs

• Registration of deeds in your name

Welcome to your new home!

Discover How Much It Costs to Buy a House in the United States

One of the most common mistakes of first-time buyers is calculating long-term payments based on the listed price, without considering the additional costs of the U.S. real estate market, such as:

Additional Costs to Consider

• Property taxes

• Home insurance

• Closing costs

Practical Tips for a Safe Purchase

Buying a house is a very important decision, which is why we recommend taking the necessary time to research and review all the details of the transaction.

In addition, it is advisable to have a banking account with real-time notifications and support in your language. This will help you better manage your finances and verify your income.

Común Helps You Prepare to Buy Your House in the United States

As you can see, buying a home in the United States is completely viable for immigrants, as long as they have the correct information, the support of experienced professionals, and proper financial planning.

Opening a banking account brings you closer to fulfilling the American dream, since it allows you to safely receive your salary and verify your income in the country.

Open your account today at Común with a qualifying official ID from your country of origin, organize your finances, and take the first step toward your new home.

Cobrar un Cheque en tu Propio Banco

Cuando se trata de cobrar un cheque, una de las opciones más sencillas es visitar tu propio banco o institución financiera. Aquí tienes un proceso paso a paso para depositar o cobrar un cheque:

1. Endosa el Cheque: Voltea el cheque y firma tu nombre en el reverso en el área designada para el endoso. Asegúrate de que tu firma coincida con la registrada en el banco.
2. Visita tu Banco: Dirígete a la sucursal local del banco donde tienes una cuenta. Lleva una forma válida de identificación, como una licencia de conducir o pasaporte.
3. Acércate a un Cajero: Dependiendo de tu preferencia y de las opciones del banco, puedes presentar el cheque a un cajero para su procesamiento o usar un cajero automático equipado con la funcionalidad de depósito de cheques para obtener tu dinero.
4. Proporciona Información Necesaria: Si estás tratando con un cajero, es posible que necesites proporcionar información adicional de la cuenta, como tu número de cuenta, banco emisor y el monto del cheque. Para depósitos en cajeros automáticos, sigue las indicaciones en pantalla para ingresar los detalles relevantes.
5. Confirma el Depósito o Recibe el Dinero: Después del procesamiento, recibirás una confirmación del depósito en tu cuenta o el efectivo en mano si optaste por cobrar el cheque.

'Cobrar' un Cheque Electrónicamente

Además de los métodos tradicionales en persona, muchos bancos ofrecen opciones electrónicas para depositar cheques. Este enfoque conveniente te permite depositar cheques sin visitar ubicaciones físicas o incluso cobrar cheques sin identificación. Así es como funciona:

• Depósito Móvil: La mayoría de los bancos proporcionan una aplicación móvil que te permite depositar cheques usando tu smartphone o tableta. Simplemente endosa el cheque, toma fotos del frente y reverso, y envíalas a través de la aplicación.
• Banca en Línea: Algunos bancos ofrecen portales de banca en línea donde puedes escanear y cargar imágenes de cheques para su depósito. Este método generalmente sigue pasos similares al depósito móvil y es accesible a través de un navegador web.
• Transferencia Electrónica de Fondos: En algunos casos, puedes tener la opción de transferir electrónicamente los fondos de un cheque directamente a tu cuenta sin necesidad de procesamiento físico.

Pros y Contras de las Cuentas de Cheques

Las cuentas de cheques sirven como el centro para muchas transacciones financieras, ofreciendo tanto beneficios como desventajas. Comprender estos pros y contras es crucial para gestionar efectivamente tus recursos.

Ventajas de Tener una Cuenta de Cheques

• Conveniencia: Las cuentas de cheques proporcionan una forma conveniente de acceder y gestionar tus fondos para gastos diarios, como pagar facturas y hacer compras con una tarjeta de débito.
• Escritura de Cheques: Con una cuenta de cheques, puedes emitir cheques a personas o negocios, ofreciendo un método de pago seguro y rastreable.
• Depósito Directo: Muchos empleadores ofrecen depósito directo, permitiendo que tus cheques de pago se depositen automáticamente en tu cuenta de cheques, proporcionando acceso rápido al dinero.
• Banca en Línea: La mayoría de los bancos ofrecen servicios de banca en línea para cuentas de cheques, lo que te permite monitorear la actividad de tu cuenta, transferir dinero y pagar facturas desde la comodidad de tu hogar o en movimiento.
• Protección Contra Sobregiros: Algunas cuentas de cheques vienen con opciones de protección contra sobregiros, que pueden ayudar a prevenir transacciones rechazadas y tarifas en caso de fondos insuficientes.

Desventajas o Limitaciones de las Cuentas de Cheques

• Tarifas: Algunas cuentas de cheques y del mercado monetario pueden tener tarifas de mantenimiento mensual, tarifas por sobregiros, retiros limitados o tarifas en cajeros automáticos, que pueden reducir tu saldo si no se gestionan cuidadosamente.
• Requisitos de Saldo Mínimo: Ciertas cuentas de cheques requieren que mantengas un saldo mínimo para evitar tarifas, lo cual puede ser un desafío para quienes viven de cheque en cheque.
• Intereses Limitados: Aunque algunas cuentas de cheques ofrecen intereses sobre los saldos, las tasas son típicamente más bajas en comparación con las cuentas de ahorro, resultando en ganancias mínimas sobre tus depósitos.
• Riesgo de Fraude: Emitir cheques o usar una tarjeta de débito vinculada a tu cuenta de cheques te expone al riesgo de fraude o transacciones no autorizadas, lo que requiere vigilancia y reporte rápido de cualquier actividad sospechosa.

Al sopesar cuidadosamente las ventajas y desventajas de las cuentas de cheques y considerar factores clave al seleccionar la cuenta adecuada, puedes gestionar efectivamente tus finanzas y aprovechar al máximo tu experiencia bancaria.

Dónde Cobrar un Cheque

Cuando se trata de cobrar un cheque, tienes varias opciones disponibles, que van desde un banco tradicional hasta una tienda minorista. Sin embargo, no todos los lugares son iguales, y es esencial sopesar los pros y los contras de cada opción antes de tomar una decisión.

Opciones para Cobrar Cheques, Incluyendo Bancos y Tiendas Minoristas

• Bancos: Tu banco a menudo es la opción más sencilla para cobrar un cheque. Puedes visitar una sucursal o usar un cajero automático equipado con funcionalidad de depósito de cheques. Muchos bancos y cooperativas de crédito también ofrecen opciones de depósito móvil, lo que te permite depositar cheques usando tu smartphone.
• Tiendas Minoristas: Algunas tiendas minoristas, como supermercados, tiendas de conveniencia y minoristas grandes, ofrecen servicios de cobro de cheques por una tarifa. Esta puede ser una opción conveniente si no tienes una cuenta bancaria o necesitas acceso a efectivo fuera del horario bancario.
• Tiendas de Cobro de Cheques: Las tiendas dedicadas al cobro de cheques se especializan en cobrar cheques por una tarifa. Aunque estos establecimientos proporcionan acceso rápido al efectivo, sus tarifas pueden ser más altas en comparación con otras opciones, reduciendo la cantidad que recibes.
• Tarjeta de Débito Prepagada: Ciertas tarjetas de débito prepagadas te permiten cargar cheques en la tarjeta electrónicamente, proporcionando acceso instantáneo a los fondos. Esta puede ser una opción conveniente si usas regularmente tarjetas prepagadas para transacciones financieras.

Dónde Evitar Cobrar un Cheque Debido a Tarifas Potenciales o Limitaciones

• Prestamistas de Pago Diario: Evita cobrar cheques en establecimientos de préstamos de pago diario, ya que a menudo cobran tarifas exorbitantes y pueden involucrarse en prácticas de préstamos depredadores.
• Casas de Empeño: Aunque algunas casas de empeño ofrecen servicios de cobro de cheques, sus tarifas pueden ser altas y pueden requerir garantía o imponer tasas adicionales y más dinero para cubrir transacciones.
• Minoristas con Altas Tarifas: Ten cuidado al cobrar cheques en minoristas que cobran tarifas altas por el servicio, ya que estas tarifas pueden reducir significativamente la cantidad de efectivo que recibes.

Al decidir dónde cobrar un cheque, considera factores como la conveniencia, las tarifas y el acceso al dinero. Opta por un establecimiento y servicio reputados con estructuras de tarifas transparentes para asegurarte de obtener el mayor valor de tu experiencia de cobro de cheques.

Comparación de Cuentas de Cheques y de Ahorros

Entender las diferencias entre las cuentas de cheques y de ahorros es crucial para una gestión financiera efectiva. Aquí tienes una comparación concisa:

Tasas de Interés y Beneficios de las Cuentas de Ahorros

• Tasas de Interés: Una cuenta de ahorros generalmente ofrece tasas de interés más altas en comparación con una cuenta de cheques, lo que la hace ideal para hacer crecer tu dinero con el tiempo.
• Beneficios:
  • Ahorro Orientado a Metas: Las cuentas de ahorros son excelentes para destinar fondos a metas específicas.
  • Red de Seguridad: Proporcionan un colchón financiero para gastos inesperados.
  • Acceso a Fondos: Aunque puede haber un límite en los retiros, las cuentas de ahorros ofrecen un acceso relativamente fácil a tu dinero.

Consideraciones para Tener Ambas Cuentas en el Mismo Banco

• Conveniencia: Gestionar tanto una cuenta de ahorros como una cuenta de cheques en el mismo banco ofrece facilidad en la transferencia de dinero, ver saldos y acceder a ciclos de estado de cuenta y servicios agrupados.
• Beneficios de Relación: Algunos bancos o cooperativas de crédito ofrecen ventajas para los clientes con múltiples cuentas, como tasas de interés más altas o tarifas exoneradas.
• Experiencia Simplificada: Consolidar una cuenta de ahorros y una cuenta de cheques simplifica tareas bancarias como pagos de facturas y transferencias de dinero.
• Diversificación: Sin embargo, tener cuentas en diferentes bancos proporciona diversificación y puede mitigar riesgos asociados con una sola institución financiera.

En última instancia, la decisión de tener una cuenta de ahorros y una cuenta de cheques en el mismo banco o repartirlas en múltiples instituciones financieras depende de tus preferencias, metas financieras y necesidades bancarias.

Cargar un Cheque en una Tarjeta Prepagada

Cargar un cheque en una tarjeta prepagada es una alternativa conveniente a los métodos bancarios tradicionales, ofreciendo flexibilidad y accesibilidad para individuos que pueden no tener o prefieren no usar cuentas tradicionales. Vamos a analizar brevemente el proceso y las consideraciones asociadas con este método.

Tarjetas Prepagadas y su Adecuación

• Tarjetas Prepagadas: Tarjetas de pago recargables no vinculadas a cuentas bancarias tradicionales.
• Carga de Cheques: Los proveedores de tarjetas prepagadas ofrecen opciones de carga de cheques electrónicamente a través de aplicaciones móviles o portales en línea.
• Adecuación: Ideal para quienes no tienen una cuenta bancaria o prefieren servicios financieros alternativos.

Pros y Contras de Usar Tarjetas Prepagadas

Pros:

• Accesibilidad y conveniencia para cargar cheques.
• Control sobre el gasto y características de seguridad.

Contras:

• Tarifas mensuales por varias transacciones.
• Características limitadas en comparación con cuentas bancarias tradicionales.
• Límites de recarga y falta de seguro de la FDIC.

Considera la conveniencia y accesibilidad de las tarjetas prepagadas para las transacciones con cheques, teniendo en cuenta las tarifas y limitaciones asociadas.

Puedes Abrir una cuenta corriente en Común ahora mismo!

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Abre tu cuenta

Conclusión

Navegar por el panorama de la banca con cheques hoy en día requiere una comprensión equilibrada de las ventajas y desventajas inherentes a este método de pago. Aunque los cheques ofrecen flexibilidad y accesibilidad, también vienen con tarifas potenciales y riesgos de seguridad. Al sopesar los pros y los contras delineados en este artículo y explorar opciones bancarias alternativas, las personas pueden tomar decisiones informadas para optimizar sus estrategias financieras y de gestión de efectivo.

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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 is a certified check and how does it work?

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

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

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

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

What is a certified check?

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

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

How is a certified check issued?

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

• The customer requests the check

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

• Customer identification

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

• The bank freezes the amount in the account

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

• Signature certification

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

Affixing the certification stamp

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

Differences between a certified check and a cashier’s check

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

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

Cashier’s check

Certified check

Security

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

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

Cost

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

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

Issuance time

At the branch, after funds are verified.

Immediate.

When is a certified check typically required?

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

• Paying an apartment security deposit.

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

• Buying a used car.

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

• Closing an important contract or legal settlement.

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

• For tuition or school fees.

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

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

Practical tips for using certified checks safely

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

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

How to know if a check has funds and avoid scams

• Verify with the issuing bank. 

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

• Be alert if you receive an overpayment check. 

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

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

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

• Avoid accepting checks from unknown parties. 

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

Manage your money securely with Común

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

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

Meet Común, your financial ally in the United States!

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

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

Frequently Asked Questions (FAQ)

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

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

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

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

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

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

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