BOSS Money
BOSS Money

As of January 1, 2026, a new federal excise tax has added an extra cost to certain international money transfers. The 1% levy applies to remittances funded with cash, money orders, or cashier's checks. For many families who regularly send modest sums abroad, that additional percentage could translate into a meaningful financial burden over time.

The tax does not apply to transfers funded through debit cards or bank accounts using ACH. That distinction is shaping how some providers are positioning their services in a changing regulatory environment.

One company highlighting the digital alternative is BOSS Money, the remittance and payments brand of IDT Corporation. Through its mobile app, customers can fund transfers directly from a debit card or a linked bank account, thereby avoiding the new tax altogether.

The policy shift underscores a broader trend in remittances that is seeing the steady move away from cash-based transactions toward digital payments. For consumers who have traditionally relied on walk-in cash services, the tax may serve as an incentive to explore app-based options that can be both cost-effective and more convenient.

According to Michelle Rendo, head of marketing for BOSS Money, the company sees the moment as an opportunity to encourage digital adoption. She notes that the app was designed to keep transfers affordable, and that funding a transfer through a debit card or bank account provides a straightforward way to sidestep the excise tax.

Beyond the tax advantage, BOSS Money emphasizes features that have become standard expectations in the competitive remittance market. The app supports transfers to more than 50 countries and provides live previews of fees and exchange rates before a transaction is completed. Delivery options in many corridors are fast, often within minutes, and customers can choose from cash pickup, mobile money, direct deposit to bank accounts, or debit card deposits in destination countries.

Security is another focal point. The platform incorporates encrypted transactions, fraud alerts, Face ID, and passcode login. Real-time tracking allows both sender and recipient to monitor the progress of a transfer. Bilingual English and Spanish support reflects the demographics of many U.S.-based remittance senders.

Industry recognition has also contributed to the brand's visibility. In June 2025, FXC Intelligence named BOSS Money the top-rated money transfer app, citing a near-perfect score. The app has also accumulated more than 110,000 five-star reviews across Google Play and the Apple App Store, an indicator of sustained user engagement rather than a short-lived marketing push.

For households that send money abroad every month, even small cost differences matter. A 1% tax on a $500 transfer amounts to $5 each time. Over a year of regular remittances, that figure can add up. By steering customers toward debit and ACH funding, digital platforms such as BOSS Money are positioning themselves as practical solutions in the wake of the new rule.

The remittance market has long balanced affordability, speed, and trust. With the introduction of the excise tax on cash-funded transfers, the calculus may shift further in favor of digital channels. For many senders, the decision may come down to a simple question: whether sticking with cash is worth paying extra when alternatives are readily available on a smartphone.