How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Can I cancel a money transfer from Ethiopia to Mexico after it's sent?
Yes, in most cases, you can cancel a money transfer from Ethiopia to Mexico if the funds haven't yet been received in Mexico. To do so, contact the provider's support team in Ethiopia or use their app/website. Keep in mind that some services may charge a cancellation fee for transfers between Ethiopia and Mexico.
Will the recipient in Mexico need identification to receive money from Ethiopia?
Yes. If you're sending money from Ethiopia to Mexico for cash pickup, the recipient in Mexico must show a valid ID and sometimes the transaction number. This helps ensure that money sent from Ethiopia is securely delivered in Mexico.
What is the cheapest way to transfer money?
The cost of a transfer can vary depending on the amount, chosen service, and delivery method. Online services like Wise often offer better exchange rates and lower fees than traditional banks.
