Published by Wanda Rich
Posted on June 24, 2025
The rise of international money transfer services, like BOSS Money, has been incredibly instrumental in digitalizing remittances to provide instant, secure, and affordable money transfers to all parts of the world, including underserved communities.
In a 2024 publication, the UN International Fund for Agricultural Development (IFAD) recognizes this digitalization of remittances as a key driver of modern financial inclusion.
Here, financial inclusion is not just about reducing costs and increasing the speed and security of money transfers.
Digital remittance services, like BOSS Money, are impact drivers of financial resilience in regions and communities with limited banking infrastructure. BOSS Money facilitates international money transfers from the U.S. to different countries across the world. So, it empowers people in underserved communities to access other vital financial services.
Before exploring how BOSS Money promotes financial inclusion, let’s look at what financial inclusion is all about.
What Is Financial Inclusion and Why Does It Matter?
Put simply, financial inclusion is the availability of accessible and affordable financial services such as banking, credit, and payments to everyone, irrespective of their location and socioeconomic status.
The absence of affordable financial services, especially in underserved, unbanked, and underbanked communities, is a threat to social justice and inclusive economic development.
Financial inclusion instruments, strategies, and services ensure some level of financial equality. They help create opportunities for economic stability, poverty reduction, and financial empowerment across the globe.
With international money transfer services, for instance, the recipients, especially those in underserved/unbanked/underbanked communities, become more empowered to access better healthcare and education, support their small businesses, and take care of other needs that improve overall quality of life.
But really, what’s hindering financial inclusivity in these communities?
Challenges Faced by the Unbanked and Underbanked
The lack of access to traditional banks in rural and low-income areas is still a key challenge for financial inclusion today.
For context, a 2023 survey by the U.S. Federal Deposit Insurance Corporation (FDIC) showed that about 5.6 million households in the US were unbanked. In developing countries like Bangladesh and Nigeria, the number of unbanked are significantly higher.
Where banks exist in low-income or rural areas, the services are often unreliable and slow. More so, the traditional wire services offered by these banks are usually laden with high fees and unnecessarily complex processes that negatively impact both the senders and the receivers.
Considering the associated costs and stress, some rural populations choose to be unbanked. Even when they have a bank account, they don’t use it for transactions.
Consequently, people in rural communities are often heavily dependent on cash transactions and other unorthodox financial services, which are generally unsafe and unreliable.
The FDIC survey indicates that nonbank payment services are improving the way unbanked and underbanked communities interact with financial services.
As of 2023, more unbanked than banked[1] households used nonbanking services to substitute core financial transactions like paying bills, receiving income, and saving money. Also, 63.3% of the unbanked used nonbank payment services to send or receive money.
Overall, there are clear indications that online financial services are eliminating these challenges while improving financial inclusivity in underserved communities and regions.
How BOSS Money Helps Bridge the Gap
BOSS Money digitalized international money transfer services to ensure you can send money instantly from the U.S. to anyone in different places across the world—including countries in Latin America, Central America, Africa, and Asia.
BOSS Money’s commitment to streamlining global financial inclusion is emphasized by the following key features.
Accessibility
Inclusivity also means understanding that not everyone is tech-savvy or speaks English.
The BOSS Money app, available for download in the App Store and Google Play Store, boasts one of the most user-friendly designs ever seen in an online payment platform. Anyone can easily use the app, even those with barely any tech knowledge.
Affordability
BOSS Money maintains a reputation in expat communities not just as the best way to transfer money internationally but also as one of the cheapest international money transfer services in the U.S.
Its competitive exchange rates, real-time transparent pricing, and lower fees compared to other providers remain some of BOSS Money’s key attractions.
For starters, it offers a $0 fee for first transactions. For example, new customers can make five transfers from the US to Mexico without any fees.
The app and website also provide a price comparison board that allows you to compare BOSS Money’s exchange rate with that of other major money transfer providers at a glance.
This commitment to transparency is further emphasized by the fact that the BOSS Money app shows users all the costs before they make payment, including:
Conversion rates
Transfer fees, if any
The amount the recipient receives.
Speed and Convenience
BOSS Money is serious about ensuring that money gets to the unbanked and underserved communities, and if that means literally taking the cash to the doorstep of the recipient, so be it.
No international money transfer provider embodies financial inclusion as well as BOSS Money in this context
To ensure users’ utmost convenience, BOSS Money offers two main categories of delivery options:
2. Hybrid delivery: These delivery options are completed through money agents in select countries and include:
The BOSS Money app also comes with a real-time tracking feature that keeps senders up-to-date with the transfer progress, further enhancing convenience and peace of mind.
Security and Trust
BOSS Money is a fully licensed and regulated money transfer service with strict AML, data privacy, and KYC compliance.
Its advanced encryption algorithms and built-in anti-fraud systems work around the clock to detect unusual activities and automatically initiate protocols that protect user data and money in real time.
To provide additional layers of protection on the customer side, BOSS Money offers multifactor authentication, which includes FACE ID, passcode locks, CVV checks, and biometrics.
These systems ensure that customers can securely save or send funds securely through the BOSS Money APP.
Conclusion
Financial inclusion through digital remittances is leading to access to better financial services, education, healthcare, and quality of life in low-income regions.
BOSS Money has shown that financial inclusion is much more than using technology for online money transfers. It proves that going the extra mile to ensure the utmost convenience, transparency, and cost-effectiveness can absolutely empower people and improve their lives across various facets.
Hence, it makes sense that BOSS Money is globally recognized as the best way to transfer money from the US to other countries, with over 1 million customers relying on it to send money to their families worldwide.
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