Did you know part of your money might be lost to fees that are easy to miss? These small charges add up and your family gets less. Here, we'll show you the common fees you face when sending money to Mexico or Latin America, and how to easily avoid them.

Why It Matters

Every dollar counts. The money you save means more cash reaches the people you care about.

1. Where Do Hidden Fees Hide?

In-person money transfer services usually charge in two ways:

• The fee shown on your receipt. If you have doubts, always ask. It's your money, and you have the right to know exactly what you're paying.
• Exchange rate. Always compare the exchange rate before sending money.

Together, these charges reduce how much your family receives. A money transfer app like Elektra Go clearly shows all costs upfront.

2. Common Fees to Watch For

• Exchange rate differences. The exchange rate determines how many pesos your family receives for each dollar. If the service uses a lower rate, you lose money. The built-in calculator in the Elektra Go app shows real-time exchange rates.
• Fixed fee or percentage fee. Some charge a flat fee; others take a percentage of your transfer. The important thing is to know the total cost upfront.
• Payment method fees. Many services add extra charges when you pay at a store or with certain methods. With Elektra Go, you can pay with your debit card, Google Pay or Apple Pay without extra charges.
• Intermediary bank fees. When your money passes through multiple banks, each bank may charge a fee, especially common in bank-to-bank transfers.
• Cash pickup fees. Some payout locations deduct an extra fee when delivering the cash. Always ask how much your family will receive.

3. How to Spot Hidden Fees Before Sending Money

1. Compare exchange rates. Check a reliable source, like a major bank or financial website.
2. Read the fine print. Look for phrases like “additional charges.”
3. Always confirm how many pesos your family will get. It's the easiest way to see exactly what your family receives.

4. Tips to Send Money Fast Without Surprises

• Plan ahead to avoid last-minute transfers.
• Use official promotions and check expiration dates.
• Choose a service like Elektra Go that clearly shows total costs before you confirm.
• Keep your receipt and keep a simple record. Elektra Go lets you check all your transfers right from the app.

Pro Tip: With Elektra Go, you can quickly see the exchange rate in the built-in calculator, review past transfers, and track your money from the moment you send it until your family picks it up.

5. Why Choose Elektra Go?

If you're looking for a clear and fast money transfer app, Elektra Go is your go to option:

1. Competitive exchange rates shown in real-time.
2. Transparent fees displayed clearly before you pay.
3. Fast and secure pickup at thousands of locations across Mexico and Latin America.
   

Download Elektra Go today and send money fast with total clarity.