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The United States of America has been a topic of discussion ever since it was announced that Donald Trump, businessman turned politician, won the elections for presidency last year. This week we are discussing President Trumps decision to halt entry to the USA for non US visitors from 7 Muslim countries.
The reason around this ban has been mainly due to Trump ticking tasks off his campaign agenda. Officially the US Chief of staff has said it is a necessary protocol until further and more necessary action is in place to protect the US borders.
What can this mean for my money transfer?
This is a question a lot of remitters, expatiates and travellers a probably wondering around the world. As it stands, there hasn’t been any officially sanctions on money transfer to or from the US, so those who may have been effected can take a deep sigh of relief. President Trump has been very vocal about his agenda and non of them directly attack money transfer or financial distribution of any sort.
However, we can only hypothesis any potential outcomes you may want to be vigilant of. In the recent events of the US border control being tightened, it may not be so farfetched that money transfer to those who are labelled as “non-US nationals” living in the US may be up next.
To protect your means of money transfer we would advise to think ahead of the time and try “send money for a rainy day” if you know it will be required. It’s one thing to feel a particular way about financial sanctions but it would be smart to get ahead of the curve and send the money larger increments and perhaps less frequently. This will facilitate breathing room for at least 2-3 months before your next due to send money.
Vorto Trading partners with SendThatCash for foreign exchange comparisonTue, 02 May 2017 - 12:32 AM