Family remittances remain a key support for millions of households across Latin America. In Peru, they continue to rise. In the first quarter of 2025, remittances totaled US$1.255 billion —a 5.5% increase compared to the same period of the previous year, the Central Reserve Bank (BCR) reported.
According to this report, the United States remained the leading source of remittances and the country with the greatest increase, driven by job recovery.
However, the proposal to impose taxes on remittances in the United States —such as the 3.5% levy suggested in some states— could lower the net amount received by families.
Maria Jose Artacho, country manager of Global66 Peru, indicated that such measures would raise the total cost of sending money, especially in a context where inflation has already reduced purchasing power in several countries across the region.
"This means that the same amount sent from abroad has a tax added to it, so the net amount the beneficiary receives is reduced even further, diminishing their spending capacity," she explained.
Therefore, the expert stated that people should become informed and explore the various alternatives available in the market to receive money from the U.S.
"It is important that people review and evaluate the method they use to receive their money, as many take several days or involve intermediary fees that further reduce the final amount," she said.
In Peru, the main modalities include:
1) Transfers to Peruvian bank accounts
This remains a common option, although it usually involves more steps, fees, and waiting time. Many traditional banks still require in-person procedures or charge for receiving international transfers.
2) Digital wallets
Some apps already allow users to receive money in certain currencies. It is important to check the company’s legitimacy and only use verified links or apps.
3) Global Accounts or local transfers
Digital platforms, such as Global66, allow users to receive payments and transfers from the U.S. in dollars.
"It's like having a U.S. bank account, and the transfer is processed locally, without having to pay any tax in the process," Artacho explained.
4) Cash withdrawal at physical locations
Some companies allow money to be sent for recipients to withdraw in cash at affiliated locations. This method is used in areas without access to banking services, although it may involve higher fees and security risks when carrying the cash.
5) Digital platforms
There are also digital platforms that allow money transfers. In this case, a local entity is still required to complete the withdrawal process. Transactions can take days or even weeks, and any intermediary fees must be verified.
(END) NDP/MDV/JMP/MVB