If you have friends or family members living across the Rio Grande, you may occasionally wire money to Mexico to assist them with ongoing household costs, celebrate a special occasion, or help with medical expenses. However, Donald Trump has proposed to put a stop to these types of payments until the Mexican government agrees to fund an anti-immigration wall between the two countries. Could such a plan come to fruition? What are your options if you're concerned about your ability to continue sending money across the border? Read on to learn more about the challenges to this proposal and how you can preserve your rights.
How would stopping wire transfers between the U.S. and Mexico be accomplished?
At first blush, this proposal seems impossible to implement -- both from a legal and logistical standpoint. However, an emergency provision in the Federal Administrative Procedures Act (APA) can permit a government entity to modify rules without publishing them in the Federal Register for comment if the situation involves an emergency and the problem must be immediately addressed to avert public health or safety threats. Arguably, a proposal to limit the influx of illegal immigrants over the southern border into the United States could fulfill this criteria.
From a logistical standpoint, things may be more difficult. Donald Trump's proposal doesn't differentiate between wire transfers made from legal U.S. citizens to Mexican citizens (or even to expatriate U.S. citizens residing in Mexico to enjoy the lower cost of living). Because wire transfer providers don't collect citizenship information when transfers take place, broadly implementing such a proposal would likely violate the rights of a number of U.S. citizens unless procedures changed to permit wire carriers to collect this information.
What can you do to protect your ability to send money into Mexico?
Fortunately, Donald Trump's plan has drawn such wide criticism it is unlikely to ever be implemented. However, it's still a good idea to have a backup plan if you find yourself somehow prevented from sending a wire transfer to relatives or friends in Mexico.
One good backup option is an online bank account. Often, you can send funds directly from your account to a relative's account in another country. If your relative doesn't have a bank account, you may be able to send this money via wire transfer from your bank to a storefront in Mexico. Funds should be made available nearly instantly, and your relative will be able to pick up cash after arriving at the wire carrier.
Share13 April 2016
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