I want to use my bank or credit union to transfer money to someone in another country. Does the new federal law about international money transfers apply?

You can still transfer money internationally if your financial institution doesn’t qualify as a remittance transfer provider, but you may not receive the same rights and protections under federal law, including:

• Up-front information about certain fees and taxes and the exchange rate.
• A receipt that shows how much was sent and when the money would be available.
• The ability to cancel your transfer at no charge within a certain period of time.
• The right to have errors investigated and fixed.

Tip: You may still be protected. These rules do not apply to every company that sends money internationally. But other protections may be available to you, depending on how you send the money and the laws in your state. Contact your state attorney general  or state financial regulator for more about your state’s laws.

If you have a complaint and you’re not sure where to turn, submit a complaint to the CFPB. We’ll forward your complaint to the company and work to get a response from them. If we find that another government agency would be better able to assist, we will forward your complaint to them and let you know.