I just sent some money to another country and received two pieces of paper that included a lot of information I’ve never seen before. What are these and what do they mean?

This includes information about:

• The exchange rate.
• Fees and taxes they collect from you.
• Fees charged by the company’s agents abroad and certain other institutions involved in the transfer process.
• The amount of money expected to be delivered, not including foreign taxes or certain fees charged to the recipient.
• If appropriate, a statement that additional foreign taxes and fees may apply.

When you receive this first piece of paper, you are under no obligation to pay for the transfer (see a sample form). The provider can also tell you this information orally, in a text message, or by email in some cases.

You should also receive a receipt. The numbers on your receipt must match any amounts the remittance provider gave to you earlier. The receipt also will include information about:

• When the money will be available at its destination.
• Your right to cancel the transfer.
• What to do in case of an error.
• How to submit complaints.

Companies must provide these disclosures in English. Sometimes companies must also provide the disclosures in other languages.