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International money transfers have transformed with the advancement of technology and the progression of people moving abroad from continent to continent. As technology advances, we’ve become more connected than ever, making it easier to transfer money worldwide. The rise of digital payment platforms and mobile apps has further simplified the process, allowing users to send money quickly and securely. For those looking to navigate this evolving landscape, researching sending money internationally tips can help ensure that transactions are cost-effective and efficient. These insights often include comparing fees, understanding exchange rates, and choosing reliable service providers.

In this post, we’ll look at the history of money transfers from the ancient Hawala system to the rise of online money transfers through Remitly and other providers. Then, we’ll discuss how you can transfer money safely to your loves anywhere in the world.

 

A brief history of international money transfers

Money transfers date back to the concept of hawala, which emerged during the 8th century CE in South Asia. This payment method spread through the Middle East and parts of Africa, and people still use it today.

With a hawala system, one person pays an agent, who sends the money transfer through a network of hawala dealers made up of friends, family, or trusted acquaintances.

Hawala dealers may settle debts between parties with cash, property, or services. The very first systems of exchange often involved bartering goods or services rather than with currency, coins, or banknotes.

Hawala was adequate, but it moved slowly. As colonization and trade began to connect more and more of the world during the centuries that followed, people needed ways to send money quickly overseas.

The answer would arrive in 1851 with the founding of Western Union. It began as a telegraph service strictly for messaging but sent money transfers in 1871. In 1918, the Federal Reserve Banks followed their example and began moving currency via telegraph.

In the 1920s, a few department stores and oil companies offered a “courtesy card” — the world’s first credit card. You could only use these cards at the store where you got them, and you paid the balance in full each month.

This idea inspired other card programs in the U.S. and led to the launch of the first actual credit card, The Diner’s Club Card, in 1950.

Credit cards were a new credit-based system that allowed people to transfer money for goods and services without exchanging physical cash.

The formation of the Society for Worldwide Interbank Financial Telecommunications (SWIFT) in 1973 changed how the credit system worked. SWIFT quickly became a secure financial messaging system for banks, making it easier than ever to move money around the world.

The Internet brought new opportunities for electronic payments and international money transfers online.

In 1999, European banks began offering money transfers via cell phones, and numerous money transfer sites would come online in the years that followed.

Transferring money internationally between banks

Wire transfers are a popular way to move money internationally between banks. To move money, banks use a network like SWIFT.

International wire transfers require you to provide the recipient’s name, bank name, account number, the payment amount, and the currency for the payment. In addition, you need the bank’s bank identifier code (BIC). Some people refer to the BIC as the SWIFT code.

Most international wire transfers arrive one to five days after you initiate them. Depending on your bank, you may be able to request a SWIFT transfer by phone or online. Some financial institutions will require you to visit a branch office to send an international wire transfer.

With the SWIFT system, money often moves between multiple banks, and each one may charge you a wire transfer fee, plus maybe a currency conversion fee.

An international wire transfer is a one-time transaction. If you want to send money to the same person again, you must initiate a new wire transfer, even if the amounts are the same.

Transferring large sums of money internationally

In the U.S., laws don’t limit how much money you can send through an international wire transfer through SWIFT.

However, financial institutions may put caps on how much you can transfer at one time. Most banks will allow you to transfer $500,000 to $1 million or more at a time.

Contact your financial institution if you need to transfer a large sum of money internationally. They’ll tell you about daily limits and if there are additional international money transfer fees for sizable transactions.

Mobile and online international money transfers

Mobile and online international money transfers allow you to send money without making a traditional international wire transfer.

Online and mobile international money transfers offer a few benefits, including:

• Cost: Fees for online and mobile transfers tend to be much lower, making it more affordable to send money to family and friends.
• Safety: Most websites and apps use two-factor authentication to guard against fraud. You may need to enter a code sent to you via text message, enter a pin, scan your fingerprint, or submit a photo for your face ID.
• Speed: Wire transfers can take days, but online and mobile transfers often arrive within minutes or the same day.
• Simplicity: With mobile and online transfers, you don’t have to visit a bank or even talk to someone to send money internationally. You can initiate a transfer at any time of day, wherever you are.
• Accessibility: To send an international mobile or online money transfer, you only need to access the Internet with a computer or mobile device. Many services don’t require the recipient to have a bank account, which allows anyone to still receive money from friends and family.

International money transfers through Remitly

Remitly simplifies international money transfers. Download the app, and you can get started quickly.

You’ll initiate the money transfer with your credit card, debit card, or bank account information. Then, Remitly sends money through the mobile money provider that you specified.

To receive money, all your loved one needs is an account with one of our mobile money partners. There are more than 80 to choose from, so you can send money anywhere in the world.

We offer competitive rates and no hidden fees. Plus, we guarantee that your payments will arrive on time. If they don’t, we’ll refund your fees.

How to send money internationally with a credit card

Typically, banks won’t allow you to initiate wire transfers with a credit card. They’ll generally only initiate wire transfers when you have the funds available in a checking or savings account with them.

Some online and mobile money transfer services will allow you to fund a transfer with your credit card. At Remitly, we accept major credit cards, debit cards, and bank routing and account numbers.

Although credit cards can make transferring money convenient, they can add additional costs to the process. You may have to pay the mobile transfer service a higher fee when you use your card.

Additionally, your credit card company will charge you interest on the amount transferred if you don’t pay the balance off in full within 30 days.

Top tips for transferring money internationally

To transfer money internationally like a pro, keep the following information in mind.

1. Protect yourself from scams.

Scammers often take advantage of the simplicity of online and mobile money transfers to try to steal money from unsuspecting people. Never send money to someone you don’t know or whose identity you can’t verify.

Be suspicious of strangers asking you to send money to claim an inheritance, lottery winnings, or a cash prize.

Also, use caution when someone asks you to pay a tax bill or fees for a loan through a money transfer service.

2. Double-check the information.

Before you hit send, double-check that you’ve entered all the necessary information correctly. Errors could result in delays or your money going to the wrong place.

3. Communicate with the recipient.

Let the person who’ll be receiving the money know that it’s on the way. Remind them to bring identification if they need to go somewhere to pick up the money.

4. Keep your account safe.

When setting up a password for a money transfer app or online account, choose something unique and challenging to guess. Never share your password with anyone, and protect your phone with a passcode, PIN, fingerprint scan, or face identification.

Change your password every two to three months.

5. Choose a service that prioritizes customer service.

You may never have a question or issue when using international money transfer services, but it’s nice to know that you can get help if you ever need it.

Remitly can assist you via online chat in English, French, and Spanish, or by phone in English and Spanish 24 hours a day, seven days a week. Plus, our easy-to-use help center has answers to common questions in 15 languages. We’re here to help make sending money internationally as simple and safe as possible.

August is more than just the last stretch of summer. For many immigrants and international families, it’s a busy and meaningful time for sending money home. From back-to-school costs to national holidays and seasonal transitions, August brings several compelling reasons to send support to your loved ones, but here’s what to consider first.

August Is Back-to-School Season Around the World

In many countries—including India, Nigeria, Kenya, and the Philippines—school resumes in August or early September. Families face a flurry of expenses: uniforms, tuition, school supplies, and transport costs.

Whether you’re helping a sibling start university in India or supporting your niece in the Philippines with school shoes and notebooks, August is often when those needs peak.

Tip: Send early in the month to avoid last-minute delays, especially if your family faces school-related deadlines.

Exchange Rates May Shift with Seasonal Demand

Summer months can bring shifts in exchange rates due to tourism, economic updates, and international spending patterns. If you’ve been monitoring rates, you might see some fluctuations..

Tip: Be aware of public holidays in the country you’re sending to; they can temporarily close banks or delay delivery. Additionally, it’s important to check the specific banking regulations and exchange rates in the recipient’s country, as they can fluctuate significantly. As you plan for sending money overseas in 2025, consider the fees that different services may charge, which can impact the total amount received. Staying informed will help ensure your transactions go smoothly and efficiently. Additionally, consider the time zone differences that may affect processing times. When researching sending money internationally tips, also look into the transaction fees associated with various services, as these can vary significantly. Finally, it’s always wise to double-check the recipient’s information to avoid any delays caused by incorrect details.

Major August Holidays That May Affect Transfers

Several countries observe important national holidays in August, affecting banking hours and increasing demand for transfers.

Here are a few notable ones:

• India: Independence Day – August 15
• Pakistan: Independence Day – August 14
• Philippines: Ninoy Aquino Day – August 21, National Heroes Day – August 26
• Jamaica: Independence Day – August 6
• Colombia: Assumption of Mary – August 15

During these holidays, families often gather for meals, travel, or community celebrations. It’s common to send extra funds to help cover these costs.

Weekend Transfers? You’re Covered

Need to send money on a Saturday or Sunday? With Remitly, you can. Many countries and delivery partners support weekend transfers, depending on the method. To ensure a smooth transaction, it’s important to check the specific hours and fees associated with weekend transfers. Additionally, utilizing some international money transfer tips can help you find the best rates and avoid unexpected charges. Always keep an eye on exchange rates and compare different services to maximize your transfer amount.

With the Remitly app, you can:

• Choose express or economy delivery
• Track your transfer in real time
• Send from anywhere—even during weekend errands

Looking Ahead: September Planning Starts Now

September often brings major financial needs: rent, tuition payments, and travel for fall holidays. Starting your planning now can help reduce stress later.

Consider setting up reminders to stay ahead.

Ready to Send Money in August?

Whether you’re sending for school, celebrations, or daily essentials, Remitly helps you do it safely, quickly, and with peace of mind. Download the app to check your rate, see available offers, and send your next transfer today.

Frequently Asked Questions (FAQs)

Can I send money internationally on weekends?

Yes! Remitly allows 24/7 transfers. Delivery times vary by country and payment method, but many transfers are instant.

Are there delays during August holidays?

Some public holidays may cause delays. Check your recipient’s local bank calendar and send early if possible.

How can I track my transfer?

Use the Remitly app to follow your money step-by-step. Both you and your recipient can see when it arrives.

Can I cancel or edit my transfer?

If it hasn’t been delivered yet, you may be able to cancel or change it. Visit our help center or contact support for details.

When sending large sums of money internationally, timing is often a crucial factor. With today’s interconnected world, you may assume transfers happen in an instant. However, large international money transfers involve various complexities that can influence the time it takes for funds to reach their destination. Additionally, factors such as currency exchange rates, the methods used for the transfer, and the banking systems involved can all contribute to delays. It’s essential to research how to transfer money internationally to ensure the process is as smooth as possible. By understanding these elements, senders can better anticipate when the recipient will receive the funds.

This blog will explain the key factors affecting transfer speed, typical timeframes for large transfers, and how to ensure your transaction is as fast and smooth as possible. By the end, you’ll have a clear understanding of the process and how to plan accordingly.

What Affects the Speed of Large International Money Transfers?

Several factors determine how quickly your large transfer is completed. While small transfers can often happen within minutes, large international payments are often subject to more scrutiny, regulations, and processing requirements. Here are the key factors that come into play:

1. Destination Country

The rules and banking systems of the destination country significantly influence transfer times. Countries with well-established financial systems and agreements with your bank typically process transfers faster. However, if the receiving country has restrictions or outdated infrastructure, it may take longer.

2. Transfer Method

Different transfer methods come with varied timelines. Options include:

• Bank Transfers: Direct transfers between banks can range from 1-5 business days, depending on the banks’ networks and processing times.
• Money Transfer Services: Companies like Remitly often offer faster alternatives, sometimes within minutes or hours, when using their service for large transfers.
• SWIFT Transfers: The SWIFT network for interbank communication is reliable but can take longer (2-5 working days) for large amounts depending on the countries and banks involved.

3. Regulatory and Compliance Checks

Large transfers often trigger additional compliance and anti-money laundering (AML) checks to protect both parties and adhere to international regulations. These checks, while essential, can sometimes extend transfer timelines.

4. Currency Exchange

If your transfer involves converting from one currency to another, this step may also take time. The currency’s availability and volatility significantly affect processing speed. Major currency pairs (e.g., USD to EUR) typically process faster than rare ones.

5. Banking Hours

Bank holidays, weekends, and banking hours in both the sender’s and receiver’s countries often delay transfer processing. Always account for these variables when estimating timelines.

6. Transfer Amount

Surprisingly, the size of the transaction plays a role. Some banks and transfer services take extra precautionary measures for large transfers, like verifying the source of funds or requiring additional sender information.

7. Inbound Bank Policies

The receiving bank may have specific procedures for clearing or crediting large sums, impacting how fast the recipient can access their funds.

Typical Timeframes for Large International Money Transfers

To help set expectations, here’s a breakdown of approximate timeframes based on common transfer methods:

• Instant Transfers (0-30 Minutes): Some money transfer services, like Remitly, offer instant transfers for select countries and payment methods.
• Fast Transfers (1-2 Business Days): Many digital money transfer services specialize in quicker international delivery, especially for popular currency routes.
• Standard Bank Transfers (2-5 Business Days): For large amounts, traditional bank transfers often fall within this range.
• Extended Delays (5+ Business Days): Transfers to less common destinations, involving exotic currencies, or requiring extensive compliance reviews may take longer.

Each payment provider will outline their expected timeframes. Be sure to check specifics when selecting a service.

Tips for Faster Large International Money Transfers

Here are a few actionable steps to ensure your transfer is sent as efficiently as possible:

Double-Check Recipient Details

Mistakes in account numbers, recipient names, or SWIFT/BIC codes can delay your transfer, so take time to verify every detail before submitting.

Choose the Right Transfer Provider

Money transfer companies like Remitly are known for offering faster, more reliable transfers for large amounts compared to traditional banks. Always compare delivery times before selecting a service.

Send During Banking Hours

Transfers initiated during bank holidays or outside typical banking hours may be delayed. If timing is critical, plan around the banking hours of involved countries.

Provide Any Needed Documentation Upfront

For large amounts, services might require documents verifying your identity, proof of funds, or reasons for the transfer. Submitting these right away avoids processing delays.

Opt for Well-Connected Currencies

If you have multiple options for currency conversion, choosing highly-traded currency pairs like USD, GBP, or EUR can smooth the transaction process.

Ask for Real-Time Updates

Many modern transfer services provide tracking tools so you can monitor the progress of your transfer and identify any potential delays.

Consider Premium/Express Services

If timing is essential, ask your provider if they offer premium delivery services for a fee. These typically bypass standard processes for a faster completion time.

Ensuring a Smooth and Secure Transaction

When sending large sums of money internationally, security is just as important as speed. Always verify the trusted status of your provider. Reputable companies like Remitly offer additional layers of protection, including secure encryptions and guaranteed delivery times.

Frequently Asked Questions

How can I check the status of my international transfer?

Most modern transfer providers, including Remitly, offer online tracking tools. These allow you to monitor your transfer from initiation to delivery in real time.

Are there limits on the amount I can send internationally?

Yes, most financial institutions and transfer services have daily or transaction-specific send limits. These may vary based on your account type and regulations in both countries.

Are large transfers more expensive than smaller ones?

Not necessarily. While large transfers sometimes involve additional fees, many providers (like Remitly) scale their fee structures based on amount, making larger transactions relatively affordable.

How can I avoid delays with compliance checks?

Submit all required documents like IDs and proof of funds during the transfer process. Be honest about your transaction’s purpose to avoid red tape.

Is it safe to send large amounts online?

Yes, reputable providers maintain high security standards with encryption and multiple layers of fraud detection. Always use a well-reviewed, regulated service like Remitly.

Nowadays, when you want to send money to El Salvador, there are so many companies that promise user-friendly services and great rates. But is this really true? Many times when you take a closer look, you’ll find hidden fees, long waits, and difficult to reach pick-up locations. And some companies don’t give you the option to have your recipient pick up money at a cash pick-up location at all!

Remitly is different. We are constantly thinking of ways to make your experience as fast and affordable as possible for both you and your loved ones.  Sending money to El Salvador with Remitly has never been easier.

Why use Remitly to send money to El Salvador?

Remitly is an easier way to send money to El Salvador, since you can do it at any time and any place from your phone or computer. In addition, we offer really low fees so your loved ones get more money. And you can send the money directly to a bank account or to one of our thousands of cash pickup locations in El Salvador.

We have many partners that your recipients can receive money from, such as Banco Agrícola, Sistema Fedecredito, Elektra, Davivienda, Superselectos y BAC Credomatic.  You can see a full list of all our partners in Central America here.

Sounds great, now how do I send?

1. You can download our app in the App store for iOS, on Google Play, or go to Remitly.com and create an account using your email address.
2. Choose how fast you want your money to arrive and select your pick-up location or if you want to send money directly to a bank account.
3. Enter the amount of money you wish to send and enter your recipient’s information.
4. Push the SEND button!

You’re set!

Sending money to El Salvador with Remitly really is that simple. Forget about high fees or long waits for your family members. You can also easily send money to Elektra in Mexico, allowing your loved ones to access funds quickly and conveniently. With competitive rates and instant transfers, Remitly ensures that your family receives every dollar without unnecessary hassle. Experience the peace of mind that comes with reliable money transfers wherever they are needed.

Are you ready to send? Go to Remitly and try it now!

You Might Also Like

• How to Safely Send Money to Banco Agrícola in El Salvador in 5 Easy Steps
• How to Safely Send Money to Banco Cuscatlán in El Salvador in 5 Easy Steps

Nerdwallet recently included Remitly in its list of the best ways to send money to Mexico. We may be a little biased but we agree, Remitly is one of the best when you need to get money to your loved ones in Mexico.

Why is Remitly one of the best ways to send money to Mexico?

• No fees: When you send $500 or more, there are no transfer fees. If you’re sending less than $500 it’s only $3.99 (check our site for more details here)
• Foreign exchange rates: We offer great foreign exchange rates daily, so your loved ones get more Pesos per dollar.
• On time: Every transfer carries the Remitly delivery promise. We deliver on time or your money back.

We can get your money to almost any bank or cash pick-up location in Mexico with over 15,000 partners across Mexico including Elektra, Banorte, Banco Azteca, Bancomer, and even Walmart. See a list of all our partners here. With our user-friendly platform, transferring funds is quick and hassle-free, ensuring that your loved ones receive their money exactly when they need it. Whether you prefer to send cash or transfer money to a bank in Mexico, our reliable service caters to all preferences, making financial connections across borders seamless. Experience the peace of mind that comes from knowing your transaction is secure and efficient.

Nerdwallet highlighted our low cost, competitive foreign exchange rates, easy cash pickup options, and our speedy delivery times as reasons why we’re one of the best.  Send to help loved ones with necessities, education, or medical expenses we will help you deliver on the promises you made to them.

When you send money to help loved ones in Mexico with necessities, education, or medical expenses, we will help you deliver on the promises you made to them. To ensure a smooth transfer, it’s important to consider various factors like transfer fees, exchange rates, and delivery methods. For anyone looking to make the most out of their remittances, we offer valuable tips for sending money to Mexico that can help you navigate the process effectively. By following these guidelines, you can maximize the support you provide to your loved ones and make every cent count.

To read more about why Nerdwallet thinks we’re one of the best ways to send money to Mexico, visit their full story here: Best Ways to Send Money to Mexico Online. And check us out for yourself here. 

You can also read how to in Spanish here.

Transferring money to a bank account in Mexico should be simple, affordable, and reliable. Whether you’re sending financial support to loved ones or managing your own funds as an expat, knowing the best ways to transfer money can save you time and unnecessary fees. Below, we’ll explore three common methods for transferring money from the U.S. to a bank account in Mexico, outlining the benefits, costs, and important factors to consider.

If you’re looking for the easiest and most secure ways to transfer money from the U.S. to Mexico, there are several options available, including bank wire transfers, international bank account transfers, and digital money transfer services. By understanding the pros, cons, and costs tied to each method, you can choose the option that best fits your needs. Additionally, it’s essential to consider factors such as transfer speed, fees, and exchange rates when selecting a method. For those who want to ensure they get the best deal, researching and comparing different services is a great strategy. Here are some sending money to Mexico tips to help you make a well-informed decision.

Key Takeaways:

• Compare wire transfers, bank account transfers, and digital transfer platforms to make an informed choice.
• Understand potential fees, delivery times, and exchange rate differences.
• Learn how to maximize convenience and affordability.

1. Wire Transfers Through Banks

Wire transfers remain one of the most reliable ways to send money internationally. These bank-to-bank transfers are widely used for their security and ability to handle large amounts. You can set up a wire transfer in person, online, or even through a mobile app.

Advantages:

• Reliable and secure, with deep infrastructure support from participating banks.
• Delivery times can range from minutes to a few business days, depending on the bank.

Considerations:

• Fees: Wire transfers to Mexico typically cost between $45–$50 USD per transfer. Note that additional fees may be required for currency conversion.
• Accuracy: Double-check all recipient details, including the SWIFT/BIC code and account number, because once a wire transfer is initiated, it’s difficult to reverse or modify.

Tip: If your recipient banks with Banorte (a major bank in Mexico), you can expedite the process by providing their SWIFT code and account details.

2. International Bank Account Transfers

Transferring money between international accounts is another practical option, especially for individuals who maintain accounts in both the U.S. and Mexico. This method simplifies cross-border banking by allowing funds to move seamlessly between accounts.

Advantages:

• Convenient for expats or anyone with dual bank accounts.
• Some banks offer no-fee transfers when sending funds in Mexican pesos.

Considerations:

• Account Requirements: Both sender and recipient must often hold accounts with the same international bank.
• Pre-Planning: If you’re relocating to Mexico, set up a local account in advance for smoother transfers.

Insight: Many banks provide linked debit or credit cards, which can allow easy access to funds in either country.

Fees for international account transfers vary widely. Some banks waive fees on transfers above a certain threshold or on transfers performed in pesos. Check your institution’s website for the most up-to-date charges.

3. Digital Money Transfer Services

Digital platforms like Remitly, Wise, and PayPal offer some of the easiest and most affordable money transfer options. These services are built for convenience and empower users to send funds quickly, often at low cost.

Advantages:

• Typically lower fees compared to traditional bank transfers.
• Easy setup through apps or websites makes it accessible to all.
• Transactions are often completed within minutes or hours.

Considerations:

• Fees: Pricing depends on the amount sent and the method of delivery. For instance, with Remitly, sending over $500 USD incurs no delivery fee.
• Exchange Rates: Evaluate the rate offered, as it may differ from standard currency conversion rates.

Example: Digital transfer services often collaborate with local banks and cash pickup networks in Mexico, making it easy to send funds directly to a recipient’s account or have them collected locally.

Why Choose Remitly for Digital Transfers?

With no hidden fees, transparent exchange rates, and multiple delivery options, Remitly stands out for ease and reliability. You can send money confidently to bank accounts or cash pickup locations across Mexico.

Understanding Peso Exchange Rates

Before completing your transfer, take a moment to check the peso exchange rate offered by your transfer service or bank. Banks and transfer platforms often quote rates that differ from those on currency conversion websites. To maximize your transfer’s value:

• Look for a competitive exchange rate balanced with reasonable transfer fees.
• Time your transfer during periods of favorable currency fluctuations, if possible.

Pro Tip: Platforms like Remitly often lock in exchange rates when you initiate the transfer, ensuring predictability.

FAQ

How can I avoid high fees when transferring money to Mexico?

Opt for digital money transfer services that specialize in international remittances, like Remitly or Wise. These platforms generally have lower fees than wire transfers and traditional banks.

How long does it take to send money to a bank account in Mexico?

Transfer times depend on the method you choose. While some international bank transfers can take up to three business days, digital transfers can be almost instant.

Are online money transfer services safe?

Yes. Services like Remitly and PayPal use advanced encryption and security protocols to protect your financial information.

What is the cheapest way to send money to Mexico?

For small to medium amounts, digital services like Remitly often provide the lowest fees. They combine affordable rates with competitive exchange rates, making them a cost-effective choice.

What information do I need to complete a transfer?

You’ll typically need the recipient’s full name, bank account details, and SWIFT or IBAN code (for bank transfers). Digital platforms require the recipient’s account or contact information.

Final Thoughts

Making an informed choice on how to send money to a bank account in Mexico can save you time and avoid unnecessary costs. While wire transfers and international bank accounts offer reliability, digital services stand out for convenience and affordability. Whichever option you choose, always double-check transfer details and costs to ensure a smooth process for both you and your recipient.

For fast, reliable, and secure money transfers, consider platforms like Remitly, which prioritize transparency, simplicity, and customer convenience.

If you support loved ones and send money to Mexico for gifts, daily living, tuition, and more, you’re not alone. And like your fellow Mexicanos, you want to find the safest way to send money to Elektra to make sure more funds make it home. To ensure your transactions are secure and efficient, consider exploring various options and comparing fees. Additionally, take advantage of online resources that offer sending money to Mexico tips, which can help you navigate the process effectively. By being informed, you can maximize the support you provide to your loved ones across the border.

According to the Mexican government’s Institute for Mexicans Living Abroad, over 11 million Mexicans live in other countries, with the vast majority based in the U.S. Remittances they send contribute nearly 3% of the country’s national income. But because of exorbitant wire fees and unfair exchange rates, sending money to loved ones in Mexico can be costly.

At Remitly, a trusted transfer company, we provide a simple app for sending money internationally.

When sending money to Mexico, Remitly have many providers you can choose from, including Elektra and Banco Azteca. In fact, Remitly has over 25,000 pickup locations throughout Mexico.

Sending Money to Elektra in 5 Easy Steps

Sending money to your loved ones with Remitly is simple. The first step, if you haven’t done so already, is to download the app and create an account.

1. Select Mexico as your destination country and decide the amount of U.S. dollars (USD) or Mexican pesos (MXN) you wish to send.
2. Select deposit to a Banco Azteca account or cash pickup as your delivery option and select Elektra.
3. Enter your recipient’s name and information and enter the bank account information such as their account number. Review your transfer summary details for accuracy and push send.
4. Add your payment method such as a bank account, credit card, or debit card.
5. Enter the recipient’s details such as their full name, phone number, and other bank details for bank deposits.

Why Should I Use Remitly to Send Money to Elektra?

Money transfers should be easy. With low transfer fees and competitive exchange rates, Remitly is an affordable choice. Using our app or website, you can easily send money to loved ones while also taking advantage of our excellent exchange rates, so you can get more pesos for every dollar.

You can read more about this on our page about our dollar to peso rates and fees when sending money to Mexico.

We make sure to send your money on time. Plus, with fewer fees and low transfer fees, you’ll no longer have to deal with any hassles while sending money home.

How Quickly Will my Money Arrive at Elektra?

Using Remitly, it’s efficient and quick to send money to Elektra. Senders that pay with a debit card or credit card can transfer money within minutes.

For those that aren’t in a rush, transfers via bank account take three to five days.

How Much Money Can I Send to Elektra with Remitly?

Remitly is committed to helping users send remittances both big and small to Elektra and Banco Azteca while prioritizing safety and following regulations. That keeps you, your money, and your recipient secure.

To that end, we have sending limits based on the information provided by a customer.

Is It Safe to Send Money to Elektra with Remitly?

There’s a reason that millions worldwide trust Remitly’s money transfer services.

Remitly uses top-notch security to ensure safe transactions and to protect your data.

You can also turn on SMS/text notifications to keep an eye on your transfer. If anything goes wrong while sending funds, you’ll get your money back.

Why We Love Elektra and Banco Azteca

Elektra is mainly a furniture and appliance retailer. They also sell cell phones, motorcycles, and even your kid’s back-to-school backpack.

When they started their own bank, Banco Azteca, it made life easier for their customers, who could shop and bank in the same location.

Banco Azteca is now one of the most well-known banks in Mexico, along with longstanding banks like Bancoppel, Bancomer, and BBVA.

Elektra is everywhere, too. It has over 1,800 locations in Mexico so your family and friends can pick up cash at the most convenient location for them. These locations are open 9 AM to 9 PM every day of the year, including Saturdays and Sundays.

In addition to convenience, Elektra offers theft insurance.

Elektra’s Theft Insurance

Your recipient is insured for 6 hours after picking up their money transfer from Elektra and Banco Azteca. If they are robbed, they need to file a police report within 6 hours and go to an Elektra store to make an insurance claim. Then, Elektra will pay them up to a maximum of 8,500 MXN. Visit Elektra’s Terms & Conditions for more details.

Safety and security are our top priorities, so we are proud to make it easier for you to send money to banks that offer extra protection throughout the delivery process.

Where Else Can I Send Money in Mexico?

If you’re looking for a different payout location around the country, visit our network in Mexico page to see the 25,000 locations you can choose.

If you support loved ones by sending money to a PayMaya account in the Philippines, you’re like many of your fellow overseas workers. 

According to a 2019 survey by the Philippine Statistics Authority, at least 2.2 million Filipinos live away from the islands. In fact, remittances like yours contributed 11% of the country’s national income in 2018. However, steep wire transfer fees and lopsided exchange rates can make sending money to the Philippines expensive. That’s where Remitly comes in. 

We make it easy for you to send mobile money to the Philippines. While PayMaya only allows transactions within the Philippines, Remitly users can easily use the Remitly app to transfer money into a PayMaya account from abroad.

Sending Money to PayMaya in 5 Easy Steps

Trying to send funds to family and friends in the Philippines? Follow these simple steps to send money safely to the virtual wallet service PayMaya. Once your funds are securely sent to PayMaya, the receiver can easily access them through their mobile wallet. If you’re also looking to send money internationally, you might want to check out guides on how to send money to Mexico. Understanding these processes will ensure your transactions are smooth and efficient.

1. For first-time users, download the Remitly app and create an account. Then select the Philippines as your destination country.
2. Enter the amount you wish to send.
3. Select your delivery speed, then choose Mobile Money as your delivery method and PayMaya as your location.
4. Enter your recipient’s phone number and full name. Make sure they have a PayMaya account already.
5. Enter your payment details.

And that’s it! Give your details a quick review and press send. Rest easy knowing that your money is on its way across borders.

Your recipient can track the transfer on their end, too. Remitly offers peace of mind for everyone involved.

Why Should I Use Remitly to Send Money to PayMaya?

With Remitly, it’s super-easy to send money any time, any place using your phone or computer. We offer excellent exchange rates for the Philippine peso and low transfer fees. 

Plus, if you need to cancel your transfer for any reason, you will get your money back.

New customers also get a special FX rate of ₱46.79 for every US Dollar sent on the first $500 of the transfer.

How Quickly Will My Money Arrive?

Using Remitly, sending money to PayMaya is quick and efficient. Senders that pay with a debit or credit card can transfer money immediately. 

If you’re not in a hurry, transfers via bank account take three to five days.

How Much Money Can I Send to PayMaya with Remitly?

Remitly is dedicated to helping all of its customers send money safely, no matter the quantity they send. At the same time, we prioritize safety and international regulations to protect your information and your assets.

To that end, Remitly has sending limits based on the information provided by a customer. 

Is It Safe to Send to PayMaya with Remitly?

In a word: yes. There’s a reason that we have millions of users around the world who trust Remitly.

Remitly uses two-factor verification and personal data encryption to ensure safe logins and secure transactions. You can also turn on SMS/text notifications to keep an eye on your transfer. If anything goes wrong while sending funds, you’ll get your money back.

Read more about how Remitly keeps you safe in our guide here.

Why Filipinos Love PayMaya

PayMaya Philippines, Inc., which used to be known as Smart eMoney, is one of a few popular mobile wallets in the Philippines. Similar to Apple Pay or Google Pay in the United States, the PayMaya app allows users to transfer money easily from device to device. 

Users love PayMaya because it’s so convenient. Like other mobile money providers, it turns your phone into a digital wallet. Through this mobile wallet, you can pay for many goods and services that you’d otherwise use cash for. PayMaya users can pay bills, shop online, buy tickets, and much more, all with the PayMaya app. It’s no wonder that mobile wallets are being adopted in larger and larger numbers around the world.

The American Dream is alive and well for immigrants to the United States, who play an important role in creating jobs and contributing to the economy. In 2017, more than 3 million immigrant entrepreneurs employed 8 million people and produced $1.3 trillion in total sales.

Immigrants in California account for 27 percent of the state’s population — and almost 39 percent of its entrepreneurs. In New Jersey, immigrants make up more than 23 percent of the population and account for more than 35 percent of small business owners. It’s the same story in Florida — 21 percent vs. 35 percent. And in New York — 22 percent vs. 33 percent. And in Texas, Nevada, Maryland, Massachusetts, Illinois — the list goes on.

From small landscaping companies and local restaurants to Fortune 500 companies, businesses across the U.S. are increasingly owned by immigrants — many of them with less than a bachelor’s degree. In fact, less-skilled immigrants start businesses at a higher rate than both immigrants with a bachelor’s degree and the U.S.-born population.

Recently, the United States Joint Economic Committee pointed out that immigrants are vital to the U.S. economy and are, in fact, driving the post-pandemic economic recovery. If you’re an immigrant considering starting a business, we’ve gathered essential information to help you understand what’s involved.

If you aren’t sure where to begin, this guide is for you. Here, we provide an overview of the steps you’ll need to take to get your business off the ground — from coming up with an idea and a name to getting your first customer.

Decide what kind of business is right for you

What kind of business you have will impact many other decisions you’ll need to make along the way. You may already have a clear vision for your business, but if you don’t, that’s okay. Many entrepreneurs start off without a specific idea in mind, but with a little thought, you can come up with an idea for using your talents, skills, or knowledge to make a living.

First, think about your business as a way to solve a problem or create value for potential customers. Find something you’re passionate about — after all, nearly 50 percent of small business owners say they work 50 hours per week or more, so doing work that you enjoy will make it easier to stay committed to success.

Apply for an ITIN

Before starting a business, you’ll need to be able to pay taxes. If you have a Social Security number, you’re already set. But if your immigration status means you aren’t yet eligible for Social Security, you’ll need to get an Individual Taxpayer Identification Number, or ITIN.

This nine-digit number is assigned by the Internal Revenue Service (IRS) to people who work in the U.S. but don’t have a social security number. The IRS can take up to 7 weeks to issue a new number, so apply as soon as you decide what kind of business to start.

Create a business plan

Once you have a vision for your new company, it’s time to focus on the details and create a business plan. This document gives you a roadmap to success, and it’s an important step in starting a business. A business plan includes:

• Your mission statement
• Details about the leadership, employees, operation, and location
• What products and services you will sell
• An analysis of the current market conditions in your industry
• A strategy for marketing your business
• Financial planning, such as balance sheets and projections
• Budget to help you manage costs

Determine how much funding you need

All new businesses require capital to get off the ground. How much money you’ll need to fund your venture depends on your line of business, what financial resources you already have available, and what assets you own. Having a realistic picture of the cost for opening your business allows you to secure the right amount of funding.

Find the funding

Once you have a funding goal in mind, you need to decide how to raise the money you need. Here are some of your options:

Business loans for immigrants

With an immigrant business loan, a financial institution agrees to give you a lump sum of money, and you repay the amount plus interest over time, on a set schedule. Once the loan is paid off, you can apply for a new one if you want to build or expand your business.

Immigrant-owned small companies may also qualify for business lines of credit. With a line of credit, a lender makes a certain amount of money available to you. When you need money, you can draw from the line. Then, you make monthly payments only on the amount you used. The bank only assesses interest on what you use. As you make payments, the money goes back to the line of credit. You can draw from it again in the future if you need more money.

Although you may need to complete more steps than a U.S. citizen to gain approval for a loan, it’s not too difficult to get a loan from a bank as long as you have good credit. Our list of some of the best banks for non-residents in the U.S. is a good place to start finding a financial institution to borrow from.

Grants for immigrant entrepreneurs

A grant is a lump sum of money that you can use to fund your business. Unlike a loan, a grant doesn’t require repayment. Federal and state agencies and nonprofit organizations are good sources for immigrant business grants — and while competition for grant funding is high, a solid business plan and a good credit history increase your chances of securing one.

Other ways to find money

Loans and grants are among the most common sources of immigrant small business funding, but they’re not your only options. In fact, more and more people from all backgrounds are using non-traditional funding to get their small business off the ground.

Alternative financing sources can make it possible for immigrants with no established credit history to achieve their dreams of owning their own business. The U.S. Small Business Administration (SBA) reports that entrepreneurs who successfully raise revenue through crowdfunding and other non-traditional sources are more likely to get approved for business loans in the future.

Decide on your business structure

The next step to starting a small business is to choose your business structure, or how you will organize your company. The business structure you choose affects how much you pay in taxes, who is financially and legally responsible for your business, and what paperwork you need to file as you move through the next steps.

Sole proprietorships, limited partnerships, and limited liability partnerships are the most common business structures for immigrant-owned small businesses. Each has its own benefits and drawbacks, so understanding your business structure options and how they impact your taxes is important for selecting the one that will work best for you and your business type. Additionally, seeking advice from local business organizations can provide valuable immigrant business tips for New York, helping you navigate the unique challenges in the area. It’s also essential to familiarize yourself with local regulations and industry standards to ensure compliance and optimize your business operations. By leveraging these resources, you can make informed decisions that promote your business’s growth and sustainability.

Apply for federal & state tax ID numbers

Once you have chosen a business structure, you need to apply for a business tax identification number. Your tax ID number enables you to register your business, pay business and sales taxes, open bank accounts, and more.

As an immigrant business owner, you will likely have to apply for two tax ID numbers:

• Employer Identification Number or EIN: This number is issued by the IRS, and you can apply for an EIN online by answering a few simple questions. There is no fee for applying, and you’ll receive your EIN as soon as you complete the application process.
• State Tax Identification Number: The Department of Revenue or tax division of the state where you establish your business will issue this number. Each state has its own process, so use this list of state tax agencies to learn what you need to do to obtain a tax ID number in your state.

Choose & register your business name

Now, it’s time to decide what you will call your business. Choose a business name that describes what you do, sparks interest, and sets you apart from other businesses in your field. As you consider names, search the database of the U.S. Patent and Trademark office to find out if the name has already been legally trademarked by someone else. You can also do a Google search of the business name to find out if others have the same or a similar one. This handy business name generator can help you come up with name ideas for your company.

Once you have a great name, you may need to register it. Most businesses don’t need to register their name with the federal government unless the business will be tax-exempt, or you want to trademark the name.

Depending on the laws where you live, though, you’ll likely need to register your business name with your state. This is especially true for limited liability companies (LLCs) and limited partnerships (LPs). The state agency or department that handles business name registration varies, but this handy search tool from USA.gov can help you easily connect with the right agency in your state.

Decide whether you need business insurance

Insurance helps to protect you and your business from financial liability. Federal laws require all businesses with employees to have:

• Worker’s compensation insurance: Pays the medical and personal expenses of employees who become injured or sick on the job.
• Unemployment insurance: Funds the unemployment system to provide payment for people laid off due to no fault of their own.
• Disability insurance: Pays expenses for employees who are unable to work due to an illness or injury

Depending on your business type and your state’s laws, you may need additional types of insurance. But even when the law doesn’t require it, you may wish to consider the following types of insurance:

• General liability insurance: Protects you from loss due to a number of causes, such as property damage, lawsuits, and medical expenses
• Product liability insurance: Protects you from loss if a product you sell injures or harms someone
• Professional liability insurance: Protects you from loss if you make an error, commit malpractice, or are negligent while providing services
• Commercial property insurance: Protects you from financial loss if your property or physical assets become damaged due to weather, fire, vandalism, or civil disobedience

With most insurance policies, you pay a premium on a regular basis, such as monthly or annually. Although the premium is an additional expense for your business, the cost can be much lower than the financial risk of not having insurance. In many cases, business insurance is often a good investment for a new immigrant-owned business.

Open a business bank account

For accounting and tax purposes, you must keep your business money separate from your personal money. To do so, you’ll need a business bank account. Banks will open a checking account for an immigrant-owned business, provided you bring the right documentation with you to the branch office. In some cases, you may also be able to open a new account online. Read our new arrival’s guide on how to open a U.S. bank account to find out what information you will need and how to complete the account opening process.

Get a business license and permits or certificates

State and local governments set rules that govern what licenses and permits you need to operate a business legally in a specific area. Depending on the type of business and where you live, you may need to obtain a license, permit, or certificate — or a combination of credentials before you can start operating your business.

Types of support you can find for starting a business

As you can see, opening a business as an immigrant is a lengthy, involved process. Fortunately, you don’t have to do it on your own. A number of federal and state programs for immigrant entrepreneurs can provide you with information and resources to help you through every step of the process of starting a business. Professionals like these can offer even more guidance and practical advice: These resources often include workshops and networking opportunities that can connect you with other immigrant entrepreneurs who have successfully navigated the process. Additionally, seeking out mentorship from experienced business owners can provide you with invaluable insights and immigrant entrepreneurs business planning tips that are tailored to your unique situation. By leveraging these resources, you can significantly improve your chances of building a successful business.

Accountants

An accountant can assist you with bookkeeping and preparing financial statements. Some offer payroll and bill-paying services that allow you to focus on your business and leave key functions up to professionals.

Accountants also provide valuable advice for filing business taxes in the U.S. Our guide to immigrants and businesses taxes can help you understand the basics, and an accountant can provide you with specific guidance to help you minimize your tax bill.

Lawyers

Lawyers offer a variety of valuable services for an immigrant starting a new business. A lawyer with experience working with small businesses can help you make decisions like what type of business structure is best for you or what kind of insurance you might need.

They can also guide you through what permits, certificates and licenses you need and advise you about whether you need to register your business name with your state.

Business coaches

Business coaches help immigrant entrepreneurs succeed. Although the approaches they take vary, a business coach can help you set goals, create plans to achieve them, help hold you accountable, and motivate you to carry out the plans. They can also assist you with networking, referrals for service providers, and more.

Marketing professionals

Marketing your business helps you get more customers. Depending on the type of business you start, your marketing may take place entirely online, or it could involve mailers, TV commercials, radio spots, or advertising in local publications. A marketing professional can assist with market research, branding, creating a social media presence, advertising, and more. Marketing agencies can also help you complete your business plan.

Creative professionals

Artists and graphic designers can help you design logos, signage, and artwork that will catch the eye of your ideal customer. Seek out photographers and videographers for website and social media content, advertising, and other tasks. You may also wish to hire writers to pen everything from written customer correspondence to employee handbooks to text for your website.

How does eating pastries in Paris, getting some vitamin D along the French Riviera, or putting your feet up in Provence sound? If that is your idea of heaven, you’ll want to understand the cost of living in France in 2025 to make your move with confidence. 

Knowing where your money will go—and how far it will stretch—is a big part of any relocation experience. In this Remitly guide, we will break down everything you should know about living expenses in France, including a comparison across different regions. Whether you’re moving for work or study, taking the plunge into nomad life, or retiring to your favourite French village, we’ll help you figure out what to expect financially. Additionally, if you’re considering exploring other destinations, it’s essential to also look into the cost of living in Switzerland, as it can vary significantly from what you may find in France. This comparison will equip you with insights into managing your budget more effectively, regardless of where you choose to settle. By understanding these financial factors, you can ensure a smoother transition and a more enjoyable experience in your new home.

Overview of the cost of living in France

As with any country, living expenses in France vary from one region to the next. They are also affected by your lifestyle choices. 

Regional cost variations

Overall, you’ll need a bigger moving to France budget—Paris remains the most expensive city to live in. But if you have your heart set on a provincial city like Montpellier or Rennes, or smaller rural towns, your budget will take you much further. 

To put things into perspective: 

• The average monthly cost of living in Paris, excluding rent, is €1,000 to €1,300 per person. 
• Living in a smaller city like Nantes or Toulouse will cost between €900 and €1,000 per month. 
• If you choose a more rural town, your monthly cost of living might be as little as €800 or less.

Comparing other countries

When we compare France to neighboring countries, living costs fall somewhere in the middle. Generally:

• You’ll pay more in Germany, Switzerland, the Netherlands, and the UK.
• Countries like Spain, Italy, and Portugal are more affordable.
• Expenses are comparable in Belgium and Italy.

Life in the US is more expensive than in France, too. However, costs will vary depending on the specific city and your lifestyle.

A breakdown of living costs in France

Now you’ve got a general overview of your living expenses in France, let’s examine these costs in more detail.  One important aspect to consider is how these expenses compare to other countries. For instance, as you plan your budget, you may want to look into the cost of living in Portugal 2025, which can offer a different perspective on your financial decisions. Understanding these variances will help you make more informed choices for your future. Additionally, it’s beneficial to explore the cost of living in Spain 2025, as this can further inform your comparisons and considerations. By evaluating the living expenses in these different countries, you can gain insights into potential savings and lifestyle choices that align with your financial goals. This comprehensive understanding empowers you to make strategic decisions about where to live and how to manage your budget effectively.

Accommodation

A good portion of your budget will be spent on accommodation. French rental prices vary widely depending on the region: 

	Studio (EUR)	1 B/R apartment (EUR)	2 B/R apartment (EUR)
Paris	900–1,300	1,200–1,800	1,800–2,500
Lyon, Marseille, and other provincial cities	600–800	800–1,100	1,100–1,600
Small rural towns	400–600	500–800	700–1,000

You can save money by considering shared housing options, which are especially popular in larger cities. Scholarship students can also apply for affordable accommodation through the Regional Center for University and School Work (CROUS). With this option, rental costs typically range from €200 to €500 per month.

Want to learn more about housing? Check out our guide to renting a property in France as a US expat. 

Food and eating out

France is the best place to eat well without breaking the bank, especially if you plan to do a lot of home cooking. Shopping at a chain supermarket like Carrefour and Intermarché will also reduce costs.

Monthly grocery budget

Your monthly food bill will depend on where you shop and how much you buy. On average, look forward to spending €250–€350 as a single adult, €400–€600 for couples, and €700–€900 for a family of four.

Of course, this also depends on your personal tastes. If you enjoy getting the cheapest grocery deals or prefer to spend more on premium options, your spending might look slightly different. 

Eating out costs

The cost to dine in France’s legendary restaurants is pretty consistent across different regions. However, expect to spend more at tourist hotspots, like cafés with a view of the Eiffel Tower, for example. 

On average, a cup of coffee usually costs €2–€4 . Dinner at a mid-range restaurant ranges between €25 and €40 per person, while fast food, like a McDonald’s meal, will set you back €8–€12 .

As with most other living expenses in France, eating out in rural regions is typically more affordable. 

Transportation

So, you know how much it’ll cost to eat in France—but what about getting around? It’s important to decide whether youll be driving or using the country’s extensive public transport system.

Public transport costs

How much you’ll pay for public transport depends on your exact transit mode. Metro, tram, and bus passes offer good value. By paying a set monthly fee, you’ll be free to use your preferred public transport option as much as you want. 

The price of these passes varies by region: 

• In Paris and the surrounding regions, you’ll need a Navigo travel pass, which costs around €88 .
• Passes in smaller cities range from €30 to €70 .
• Most regions offer discounted passes for students.

If you don’t want to commit long-term to a pass, you can buy a single ticket instead. These usually cost around €1.60 to €2.10 .

Driving costs

Driving in France is generally more expensive than in the US. That’s because buying a car is costly, and fuel prices are higher. Also, there are a lot of toll roads you’ll probably have to use on longer drives—unless you want to take the very long way around.

On average, you can expect to pay: 

• €1.657 /litre for petrol
• €600–€900 /year for insurance
• €500–€800 /year on general car maintenance
• €15–€60 for tolls on major roads

Public transport is the cheaper and less stressful option for most, unless you plan to live in a remote area. But if you want to drive, don’t forget to get a French driver’s license so you can do so legally in the long term.

Utilities and internet

Utilities like gas, electricity, internet costs, and mobile plans can vary based on your house size, your usage, and the provider you choose. Here’s what you can generally expect to pay. 

Monthly utility costs

To keep things simple, let’s assume you’re renting a one- or two-bedroom apartment. Your spend on monthly utilities will be: 

• €20–€40 on water.
• €100–€160 on electricity and gas.
• Variable local property taxes typically include waste collection, subject to the size and location of your home.

Internet and mobile plans

A phone plan and internet connection in your home will help you avoid paying high rates. Here’s how much you’ll spend:

• €25–€40 per month on fibre broadband.
• €10–€25 per month on a mobile plan covering data, calls, and texts.

A popular way to reduce costs in this category is to get a bundle deal. In France, the leading providers are Orange, Free Mobile, SFR, and Bouygues Telecom; each offers good coverage across the country. 

Healthcare

Healthcare in France is generally very good, and it’s relatively affordable, even for expats. 

Immigrants can register to access the French public healthcare system through Sécurité Sociale, though you might need private coverage initially. But it’s important to note that state-sponsored healthcare isn’t entirely free in France. As a patient, you could be expected to partially cover your care with co-payments. Some top-up insurance plans will cover these contributions.

On average: 

• A GP visit costs €25 without insurance
• Visiting a specialist may cost between €40 and €70 
• Health insurance for expats costs range from €40 to €80 per month

A common path many expats take is getting comprehensive international health insurance first, then switching to local options once they’ve settled in. Here’s our guide to getting health insurance in France.

Entertainment and leisure

If you want to experience the very best of France, you’ll need to budget to see and do everything the country has to offer. Average entertainment and leisure costs are as follows: 

• €10–€13 for a cinema ticket
• €9–€15 for museum entry passes
• €20–€80 per concert ticket
• €25–€50 /month on a gym membership

If you live in a big city and plan to do a lot of sightseeing, check out the Culture Pass program, which allows you to spend less. Options like the Paris Museum Pass are incredibly extensive and convenient.

Saving tips for living in France

Some costs are non-negotiable, but there are still ways to live well while minimizing your spending, helping stretch your moving to France budget even further. Here are some effective money-saving tips:

Buy supermarket-brand grocery items

Just like in the US, most major French supermarkets sell own-brand items—called “marque de distributeur” (MDD)—at a fraction of the cost of branded versions. Buying MDD items can help you shave several euros off your weekly shopping bill. 

Open a French savings account

Many transactions in France require you to open a French bank account. However, it’s worth looking into savings accounts, too. If you want to build a financial future here, placing some of your cash in a good savings account can be advantageous. 

Use travel passes or take advantage of share schemes

If you plan to travel a lot while living in France, you’ll save money by buying a monthly or yearly pass rather than paying for each ticket individually. You can also look into bike-sharing schemes, offered by many cities for €20 to €40 per year. 

Be smart about housing locations

Rents outside city centres can drop by up to 30-40%, so if you don’t have to live centrally, this can be a good way to save money. Most outer-city residential areas have easy, direct transportation into the urban core, so you won’t be missing out by living on the outskirts.

Get ready to live affordably in France

The good news is that having an enjoyable experience living in France is feasible, even on a moderate income. All you have to do is take the time to evaluate costs and budget before your move.

FAQs

Is it cheaper to live in France than the US?

Yes. Generally, the cost of living in France is lower than that in the US. This depends on where you’re moving from and to—living centrally in a big city like Paris will be more expensive than a smaller city or residential area. 

What is the cheapest place in France to live?

Grenoble, Nîmes, and the Occitanie region are often cited as some of the more budget-friendly places to live in France. Cities like Toulouse and Lyon are also relatively affordable. 

How much money do you need to live comfortably in France?

The amount of money you need to live comfortably in France depends on where you plan to live and what kind of lifestyle you plan to lead. Some visa requirements indicate you should have a monthly income of at least €1,800 for a single person, or €3,600 for a couple.

What is considered a lot of money in France?

As in the US, what is considered “a lot of money” in France is subjective based on a person’s own background and financial situation. But 2024 research by Observatoire des Inégalités noted that a single person with no dependents must make a net of €3,860 per month to be considered rich in France.

If you’re moving to France, you can look forward to accessing one of the most renowned healthcare systems in the world. It covers everything from routine visits to a doctor’s office to hospital care, dental treatments, and vision care, providing a vast infrastructure of aid for those living in France. Let’s take a closer look at exactly what to expect to get health insurance in France. In order to fully benefit from this exceptional system, understanding how to obtain health insurance in Spain is also crucial, especially if you’re planning to travel or stay there frequently. Many expats find that enrolling in the French Social Security system provides substantial coverage, but private insurance can also offer additional perks. It’s essential to research the different options available to ensure that you have comprehensive protection tailored to your specific needs.

How the France healthcare system works

France boasts a universal public healthcare system known as protection universelle maladie or PUMa. Let’s take an in-depth look at how the system works.

Who can use the state health insurance scheme in France?

This French healthcare system provides wide-ranging medical coverage for anyone working in France or living in the country on a stable, continuous basis for at least three months. French citizens and all legal residents can access PUMa regardless of employment status.

Who pays for the French health insurance fund?

French residents contribute to the healthcare system through mandatory payments made to the French social security system. Employers deduct around 8% of employees’ salaries to make social security contributions and help fund the statutory health insurance system.

How does payment work through the French public healthcare system?

The French healthcare system reimburses you for a portion of whatever you pay when receiving medical treatment. If you suffer from one of the chronic illnesses on the official list, they will reimburse you 100% of the medical bills. Otherwise, there will usually be some medical fees left to pay.

Outside of treatment for the chronic conditions on the official list, getting care through France’s health care system means some out-of-pocket costs for most people. The system covers around 70 to 80% of medical expenses in most cases. The remaining costs are the responsibility of the patient.

It’s important to understand that France’s universal healthcare system works through reimbursement rather than through upfront payments. This may be different from how public insurance works in your home country.

If you have state health insurance, you’ll need to pay for your care first. Then, the government will reimburse you for the covered amount.

For example, say you undergo a few complex procedures and rack up total medical costs of €5,000 at a hospital. You would pay €5000 to cover the costs. With 80% health insurance coverage, you would then receive reimbursement of €4000 from the French government.

Is it possible to get free healthcare in France?

French residents who qualify as low-income may receive free medical treatment without going through the reimbursement process.

As mentioned, your health details may also allow you to receive free care. If you have a qualifying chronic illness, the public system covers 100% of the costs in most cases.

What is a private health insurance policy in France?

Most people in France have private ‘top-up’ private medical insurance policies, known as mutuelles. This complementary health insurance helps to pay for the leftover amount not covered by reimbursements.

When looking to get health insurance in France, it’s important to note that, unlike private health insurance in other countries such as the UK, a mutuelle is simply a form of financial assistance rather than a way to cut waiting times for treatment or access private hospitals.

Some private health insurance plans do cover care at private facilities. However, private coverage varies from policy to policy. If you’re interested in seeing medical professionals at private facilities, find out whether the plans available through private insurers provide this benefit.

Can you use a European health insurance card in France?

If you’re from a European country, you can typically participate in the French health insurance scheme and get care through public hospitals in France. You’ll need to present your card when you receive medical care, so take it with you when you travel.

Similarly, UK citizens can get care in France by presenting a UK Global Health Insurance Card, obtainable through the NHS. This card allows them to access necessary medical treatment while staying in France, ensuring they receive the same standard of care as local residents. For those considering longer stays or living abroad, it is essential to research how to obtain health insurance that covers a wider range of services. Understanding the different options available can help ensure adequate coverage during their time in a foreign country.

Can you use international health insurance in France?

International health insurance is a type of private insurance that you buy in your home country. Whether or not you can use this private insurance in France depends on the terms of your policy. Check the details of your private coverage or contact your insurance company for more information.

What does French public health insurance cover?

The French public healthcare scheme will reimburse some of the costs of a very diverse range of services and treatments, including:

• GP consultations
• Specialist consultations
• Scans and diagnostic tests
• Hospital treatments and care
• Emergency care
• Dental care
• Maternity care
• Mental health care
• Physiotherapy and speech therapy
• Podiatry
• Eye tests, glasses, contact lenses, and hearing aids
• Prescription medication

How to access France’s healthcare system

The way to access the health insurance France provides to all residents depends on your situation.

Public health insurance for employed people

Many immigrants seeking health insurance in France will have a job secured in France before they arrive. If that’s your situation, your registration with social security and the healthcare system will usually be handled by your employer.

Public health insurance for self-employed people

Self-employed people will be automatically enrolled when they register with the Sécurité Sociale Indépendants. This form of social security is for people who don’t pay into the program through payroll withholdings.

Public health insurance for unemployed people

If you’re not working and have lived in France for at least three months, you can register yourself by filling in this form and submitting it to your local CPAM office.

CPAM stands for Caisse Primaire d’Assurance Maladie. It handles healthcare administration.

When you apply for public health insurance, a number of documents will be required, such as:

• Passport
• Birth certificate
• French residency permit
• Proof of address, such as a rental agreement and utility bills for the past three months.

Public health insurance for international students

International students in France can access the healthcare system by registering for social security here.

What to do after you register for public medical insurance

Once your details have been registered, you can create your own healthcare account here. This is highly recommended, as you can easily track your healthcare reimbursements on your account page.

You can also order your Carte Vitale through this site, although it’s also possible to apply by post using a form that will be sent to you when you register with social security.

The Carte Vitale resembles a credit card and must be presented when you make use of medical services in France – for example, at a doctor’s surgery or a hospital. The card will be inserted into a reader in order to register the service or treatment you’ve received with the healthcare system.

You’ll then get a percentage of the medical fee reimbursed to your bank account, usually within a week. Bear in mind that the Carte Vitale isn’t a payment method, so you’ll be expected to pay any money owed using cash or a bank card.

Healthcare costs

To ensure you’re eligible to get the highest possible reimbursement percentage for healthcare services in France, you must register a particular doctor as your primary care physician, or médecin traitant.

You’re free to seek out the doctor of your choice using directories such as Doctolib and KelDoc. However, you may need to shop around, as many doctor’s surgeries may be running at maximum capacity and not taking on new patients.

Once you’ve found the right doctor, they’ll officially log their status as your médecin traitant and act as your first entry point for many healthcare services in France. This means you will see the same doctor whenever you need care.

Healthcare costs will vary depending on the type of treatment and its related reimbursement percentage. For example, a standard consultation with your doctor will typically cost €25. The public health insurance system will reimburse 70% of this cost, though there’s also a flat-rate contribution of €1 that you must pay. The rest will have to be paid either by you or your mutuelle private health insurance plan.

You can find the current reimbursement rates for hospital treatments, prescription medications, dental treatments, and other services here. There are a few additional factors to bear in mind if you are looking to get health insurance in France:

• The state healthcare system’s reimbursement percentages are only applied to official base rate fees for services or treatments. In reality, doctors, dentists, opticians, and specialists may charge higher medical fees than the base rate, meaning you’ll have to pay more out of your pocket (or through a mutuelle private health insurance policy).
• While a large percentage of hospital treatment fees are reimbursed, you’ll usually be expected to pay €20 per day to cover accommodation, food, and so on. Certain patients, such as those admitted to the hospital for childbirth, are exempt from this fee. Some private health insurance policies may also cover the fee.

Mutuelle policies

As we discussed earlier, mutuelles are top-up insurance policies that contribute towards fees not covered by the public scheme. By law, private companies in France must provide employees with a top-up insurance policy and pay at least 50% of the cost.

If your circumstances differ – for example, you’re a student, self-employed, or work in the public sector – then you may want to arrange your own mutuelle policy. To get coverage, you’ll need to pay a premium. When setting rates, insurers usually consider an applicant’s age, gender, and place of residence.

Such policies are provided by banks, insurance companies, and non-profit organizations called mutuelles. It’s a good idea to take some time to compare and contrast the various packages available, paying attention to how much they cost and how much they’ll reimburse for different treatments. Two useful price comparison portals for mutuelles are Assurland and Empruntis.

It’s well worth having a mutuelle in place to cover assorted medical costs higher than the official base rate, as mentioned earlier. Plus, most mutuelle policies will give you access to 100% Santé, a relatively new initiative that slashes certain costs for eyewear, dental care, and hearing aids. Public and mutuelle insurance plans fully cover items and services listed as 100% Santé.

When choosing a health insurance plan, consider your budget and how much you can afford to pay for monthly premiums and out-of-pocket expenses.

In addition, think about your medical history as you compare health insurance options. If you’re in good health and have low medical costs, a less expensive private medical insurance plan may be adequate. Those with ongoing health issues that aren’t 100% covered in France may require more comprehensive health insurance.

What is a digital wallet? It can be a great way to send and receive money without having to carry around a physical card or enter your credit card number online. That said, not all merchants accept mobile or contactless payments, and your favorite digital wallet app may not work outside your country of residence.

Here’s what you need to know about digital wallets and how to use one to make mobile payments or send money internationally. Digital wallets offer a range of functionalities that enhance your payment experience. By utilizing digital wallet features and benefits, users can enjoy secure transactions, quick access to funds, and the convenience of making purchases without the need for physical cash or cards. As mobile payments continue to gain popularity, understanding these tools can help you navigate financial transactions more efficiently.

What is a digital wallet?

A digital wallet is a digital alternative to a physical wallet or purse. It’s usually a mobile app, but you may also be able to view your digital wallet in a web browser and make payments from other types of mobile devices, such as a smartwatch.

Digital wallets that only work on mobile devices are called m-wallets, while those that work on a wider range of devices are called e-wallets, or electronic wallets.

Just as you might carry around multiple payment methods in a physical wallet—such as a credit card, debit card, and cash in your local currency—you can usually store multiple cards in your digital wallet, or e-wallet.

In addition to credit and debit cards, digital wallets may be able to hold:

• Gift cards
• Loyalty cards
• Public transit cards
• Concert tickets
• Boarding passes
• Identification cards
• Bitcoin and cryptocurrency

Digital wallets aren’t bank accounts, but some e-wallets may hold a cash balance that you can top up with a debit card or link directly to your bank account.

How to use a digital wallet

Digital wallets can be used for paying a retailer, sending money to your friends or family members, or even sending money to yourself.

To get started, you can set up your digital wallet by adding your bank account details or credit card information. Modern digital wallets typically use a tool called tokenization, which is meant to keep your card number safe.

Still, it’s a good idea to check your digital wallet provider’s security policies and to lock your digital wallet app behind a passcode or facial recognition tool like Face ID.

Once you’ve added your financial information to your digital wallet, you can use one for online and in-store purchases as long as it’s accepted.

Look for the contactless symbol

Most digital wallets use one of two contactless payment technologies: near-field communication (NFC) or magnetic secure transmission (MST). These technologies send a signal between your mobile device and the merchant’s contactless card reader.

You can choose the “card” you want to pay with in your digital wallet, then hold your device close to the card reader to start the transaction.

You may need to unlock your device with your face or thumbprint if you’ve set up biometric security.

Use a QR code

Some merchants may have a point-of-sale app that uses a QR code instead of an NFC payment terminal.

This is especially common in some parts of Asia, where customers can scan a QR code to view and pay their bill using a digital wallet.

To use this option, look for PayPal or other QR codes at the checkout counter.

Send money to friends and family

If your recipient uses the same digital wallet or a mobile banking app that’s compatible with your own, you may be able to send them a payment by looking up their username, phone number, or other account information details.

In the U.S., it’s common for friends to “Venmo” each other their share of an expense, while Brazilians commonly use the Pix payment system for similar day-to-day transactions.

However, digital payments typically only work within a country’s banking system, so you may need to use an app like Remitly for international money transfers.

Advantages of digital wallets

Knowing how to use a digital wallet is important if you live in or are traveling to a country that relies heavily on mobile payments. But that’s not the only good reason to learn how to use a digital wallet. Here are three other advantages to consider.

Security

Carrying around credit or debit cards in a physical wallet can be risky. Even if you never lose or misplace your wallet, thieves may skim your card information when you use an ATM.

Digital wallets reduce the risk of unauthorized card transactions. They store your payment information securely, and you can protect your card details from hackers by using multiple forms of authentication.

If someone steals your phone, you can disable your wallet remotely, saving you from having to cancel your card and wait for the issuer to send you a new one.

Convenience

Paying with a digital wallet may also be more convenient than other payment methods. Depending on which type of e-wallet you use, you may be able to view your balance directly in the app and set up alerts and notifications.

It can save you from having to carry around cash and even from exchanging currency, if you choose a digital wallet that supports international transactions.

Plus, you can use it to store things like airline boarding passes and concert tickets, so you don’t have to worry about forgetting important documents at home.

Speed

Digital wallets can often process transactions much more quickly than other payment methods. It can take several business days for a check to clear and even credit card payments may not show up on your account balance immediately.

You can access your digital wallet 24/7, so you don’t have to wait for your bank to be open to initiate a payment. Many person-to-person transactions take place very quickly, especially if your recipient uses the same mobile banking service.

Examples of digital wallets

Chances are you’ve heard of some of the most popular mobile wallets around the world, from AliPay to Venmo. Here are three of the most widely used digital payment apps and the devices that support them.

Apple Wallet

Apple Wallet is available on a wide range of Apple devices, including the iPhone 6 and up, as well as some iPads and wearable devices like the Apple Watch.

It supports contactless NFC payments using Apple Pay, which you can use for in-app payments and online purchases.

Apple Pay works in dozens of countries around the world, but keep in mind that your credit or debit card issuer may charge international transaction fees.

Google Wallet

If you don’t have an Apple device, then you won’t be able to use Apple Pay—but there’s a similar digital wallet for Android devices. Google Wallet (formerly called Google Pay) also uses NFC and supports contactless payments in dozens of countries.

Google Wallet lets you store everything from digital car keys (specific models only) to your driver’s license in some U.S. states.

Samsung Wallet

Samsung has its own digital wallet for Samsung devices, including smartwatches and phones. Unlike Apple and Google Wallet, it supports NFC and MST transactions.

Samsung Pay is now part of the Samsung Wallet app, which allows you to store debit and credit cards from over 1,000 financial institutions. You can also store your vaccine record and use it to ride New York City’s public transit system.

Use a digital wallet for international money transfers

Digital wallets are a great way to pay for goods and services from a mobile app or send money to loved ones. But not all types of digital wallets support international payments, and if they do, you may have to pay international transaction fees.

If you need to send money to your friends or family members overseas, then you may be better off using an international money transfer app like Remitly. Remitly offers fast and affordable international money transfers.

Popular Digital Wallets from Around the World

Have a look at this list of some top mobile wallets in different regions. Have you heard of all of them?

Mobile Money in Africa

Africa has the world’s largest mobile money market, and the COVID-19 pandemic only accelerated its growth. To stimulate the economy, many African governments have reduced barriers to encourage more people to sign up for mobile wallets.

Many people living in Africa don’t have access to traditional banking services. Mobile money technology has enabled the unbanked to access financial services more readily. To have a mobile money account, all one needs is a mobile phone—no bank account required.

While the popularity of the following companies varies by country, each of them helps to provide financial services that many citizens would not otherwise have.

1. MTN Mobile Money

With nearly fifty million users throughout the world, MTN stands out among other mobile wallets in Africa for name recognition and adoption. It offers services in Rwanda, South Africa, the Republic of Congo and at least 22 other countries in Africa and the Middle East.

2. Orange Money

After its initial rollout in 2008, Orange Money from Orange Group quickly became one of the most popular mobile wallets in Africa. It’s only slightly less widely used than MTN. It’s also available in 18 countries on the continent, so it’s one of MTN’s biggest competitors in many places.

3. M-Pesa 

Launched in 2007 by Vodafone Group and Safaricom, M-Pesa has active agent operations across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique, and Tanzania.

While it’s only available in seven countries in Africa, M-Pesa still reaches a massive amount of the continent’s citizens. Most of its customers are concentrated in Kenya. A major driver of their popularity is their customer service. As their user base increased, they grew their agent network at the same pace.

Mobile Wallets in Asia

Asia is the epicenter for this technology’s adoption. For instance, digital wallets account for 48 percent of payment volume and over 70% of e-commerce spending in China.

Nearly one-third of e-commerce spending in Asia also comes directly from these mobile wallets. While some popular options in the world are available throughout the region, the following offerings remain the most widely used.

4. Alipay

While there are many mobile wallet options in China, Alipay is the undisputed king. In 2020, it made up 55 percent of the Chinese mobile payments market, and it keeps growing. Users love this offering because it also provides services in the areas of wealth management, investing, and micro-loans.

5. WeChat

While Alipay may be the most popular option in China, WeChat is not far behind. Research from the second half of 2019 showed that it made up 39 percent of the mobile wallet market in the country and boasts over a billion users.

As one of the most popular communication methods in the country, its virtual payment offering immediately had a massive user base.

6. GCash

While China may have many well-known virtual wallet brands, other Asian nations have their own mobile money providers. In the Philippines, for instance, GCash has millions of users and is so far the most popular mobile wallet in the island nation in terms of total users.

Mobile Money in Latin America

Just as in Africa, many people in Latin America don’t use traditional banking services, though this varies by country. Regardless, as in other developing nations, mobile money and mobile banking options are gaining traction in the region.

One reason? Mobile internet access has increased in Latin America. In fact, a recent report by the Global System for Mobile Communication reveals that 4G coverage in Latin America went up to 85% in 2019, while Mexico alone has experienced a nearly 20% increase in mobile internet penetration in the past five years.

Digital and cloud payments are also expected to drive investment from fintech and banks in Latin America in the coming years. The following mobile wallets have already established themselves to take advantage of this revolution.

7. DaviPlata

DaviPlata is a mobile wallet offered by one of the biggest banks in Colombia, Banco Davivienda. With DaviPlata, Colombians can pay for many goods and services they’d otherwise use cash for. They can also withdraw cash from their DaviPlata wallet at Banco Davivienda ATM machines.

With DaviPlata, Banco Davivienda is working to give Colombians access to financial services without needing to have a bank account. Users can transfer money across wallets, get their balance on their phone, and make payments digitally.

DaviPlata is becoming well-known thanks to its contract with the Colombian government to distribute payments to Familias en Accion recipients. This social safety net program reaches over 900,000 Colombians.

8. Tigo Money 

Many citizens of Paraguay, Bolivia, Guatemala, Honduras, and El Salvador depend on Tigo Money for many of their financial needs. The mobile wallet boasts millions of users in these countries.

Tigo Money is just one version of the Tigo product, which is known as Tigo Pesa in Tanzania and Tigo Cash in other parts of Africa.

Mobile Wallets in North America

The virtual payment options in North America are among the most widely available in the world. You can also use these digital tools in countries around the globe, but typically, you cannot use them to send money from one country to another.

Even though the adoption of these services in the United States is not as widespread as their availability, they’re becoming more common, especially in retail settings.

9. Google Pay

Android users have a built-in virtual payment system with Google Pay. Users can make contactless payments in dozens of countries, from Austria to Singapore to the United States; you can see the full list here. However, sending money to friends and family with Google Pay is limited to the U.S. and India at the time of this writing.

10. Apple Pay

Users of iOS devices—including the Apple Watch and iPad—can pay with their phones in over 60 countries.

11. Samsung Pay

Owners of Samsung devices can also use the phone’s mobile wallet app to make payments. It’s accepted in at least 24 countries.

What Is Mobile Money, Anyway?

We use many terms regarding mobile money technology: virtual wallet, digital wallet, mobile wallet, mobile banking, mobile payments—and the list goes on.

Let’s take a look at two of these common terms. Mobile wallets enable you to pay with your credit or debit card without having to actually carry the cards around. Instead, you pay from an app on your phone. For example, when you use a mobile wallet to pay at a store, you might tap your phone over a reader at the checkout station. The merchant charges you directly from the card you provide in the mobile wallet.

The more general term mobile money refers to the ability to make payments, transfer money between accounts, deposit money, or withdraw funds by using a mobile device.

Not all mobile money accounts require a traditional bank account, which makes them popular in developing countries, where more people are likely to be “unbanked.” Armed with only a phone, mobile money users can store funds in a secure account connected to their mobile phone number. They can take cash to a mobile money agent to have it added to their phone’s account.

Meanwhile, others can transfer money to mobile money accounts via their bank, a credit or debit card, a remittance provider, or their own mobile money account.

International Money Transfers to Mobile Wallets

Thinking of sending money abroad to a mobile money account? Try Remitly.