# How do I move money abroad without losing it to fees?

Canonical: https://theretirementdecisionlab.com/answers/how-do-i-send-money-abroad-without-losing-it-to-fees/
Section: Where does your money work hardest? (Retirement Decision Lab, Decision 3 · Week 3 · Wed Nov 18)
Facts checked: 2026-10-06 · Next review by: 2027-04-06
Reviewed by: Todd Allyn, Founding Director, Sovereo Intelligence Research

## Short answer

Compare the amount that arrives, not the fee. The exchange rate a provider gives you can cost more than the fee it advertises.

## Detail

US rules require transfer providers to show you the exchange rate, fees, taxes and the amount the recipient gets before you pay. You can usually cancel within 30 minutes at no charge.

Social Security can deposit straight into banks in many countries; SSA's International Direct Deposit list shows which. Some countries have conditions. In Colombia, for example, the account must be in US dollars.

Test a small transfer first, and keep a written record of what arrived.

## Where it gets personal

Week 3 checks how your money travels before you choose a place. The Retirement Decision Lab: https://theretirementdecisionlab.com/

## Sources

1. What are my rights when I send money internationally?, Consumer Financial Protection Bureau: https://www.consumerfinance.gov/ask-cfpb/what-are-my-rights-when-i-send-money-internationally-en-1161/
2. International Direct Deposit List, Social Security Administration: https://www.ssa.gov/international/countrylist6.htm
3. Direct Deposit Sign-Up Form (Colombia), SSA-1199-OP69, Social Security Administration: https://www.ssa.gov/forms/ssa-1199-op69.pdf

Education only. Not financial, tax, investment, immigration or legal advice.
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