Eight percent fee possible on money transfers to Mexico
Thu, 17 Mar 2011 01:56:09 GMT —
Many people who use money transmission businesses to wire money to their relatives in Mexico will soon have to pay extra for the process.
It's a bill that would require people to pay an eight percent fee on money transmissions to Mexico, Central or South America.
As written in the bill, the money made from these fees would go to the indigent health care support account.
"It sounds like a really good idea," said Shari Dirkx.
Dirkx is in favor of this bill, but not without some reservations.
"If the money would go where it's supposed to go...if it really ended up in health care, but i think that would take a lot of finagling to get it there," said Dirkx.
But others have bigger reservations about the bill.
"I think it's a big hit for Hispanics that come here to work," said Eliesas Mendoza.
The fee would only apply to undocumented immigrants.
Citizens can apply for a refund of the fee after showing proof of citizenship which leads some to believe this bill is made to discourage undocumented immigrants from living in Texas.
"There's a lot of money transmissions to Mexico from here-and the government should be more considerate," said Manuel Diaz.
Diaz said those who send money to Mexico contribute their money here in the United States as well and the economy could be affected if this law passes because those who need to send money to Mexico will be making the sacrifice to also pay the fee and won't have the money to spend on other things here in the U.S.
"I just don't think the fee increase is fair," said Diaz.
On Monday, the house heard testimony on this bill, but as of now, it is pending in committee.