BOSS Money App Helps Senders Avoid the New 1% Remittance Tax

BOSS Money (NYSE: IDT) highlights that a new federal excise tax on international transfers funded with cash, money orders, or cashier’s checks went into effect on January 1, 2026.

Rhea-AI Summary

BOSS Money (NYSE: IDT) highlights that a new federal excise tax on international transfers funded with cash, money orders, or cashier’s checks went into effect on January 1, 2026. The tax is 1% of the amount transferred, but transfers funded by debit card or bank account (ACH) are excluded.

BOSS Money promotes its app as a digital alternative that supports transfers to more than 50 countries, offers live fee and exchange-rate previews, fast delivery, secure logins, real-time tracking, bilingual support, a $25 referral reward, and > 110,000 five-star reviews.

Positive

• Avoids 1% remittance tax for debit-card or ACH-funded transfers
• Supports transfers to more than 50 countries
• 110,000 five-star reviews across app stores
• Named top-rated app with a 4.9 score by FXC Intelligence (June 2025)

Negative

• The 1% excise tax applies to cash, money orders, and cashier’s checks
• Customers who continue to use cash-based funding remain subject to the new tax

Argus Feb 12 session

-1.18% close to close Open Argus

Details

News Market Reaction – IDT

On Feb 12, the day this news came out, IDT closed 1.18% below the previous close.

Data tracked by StockTitan Argus for the Feb 12 session.

Market Context

This announcement positions BOSS Money as a beneficiary of the new 1% federal remittance tax on cash...

Analysis

This announcement positions BOSS Money as a beneficiary of the new 1% federal remittance tax on cash-funded transfers by emphasizing debit card and ACH funding to avoid the levy. It highlights broad reach to 50+ countries, high app ratings, and referral incentives. In context of recent solid earnings, retail data strength, and legal clarity, investors may watch how user growth and transaction volumes in this app contribute to IDT’s fintech revenue trajectory over time.

Key Figures

Remittance tax rate: 1% Countries covered: more than 50 countries Referral reward: $25 +3 more

Remittance tax rate

1%

Federal excise tax on certain international money transfers effective Jan 1, 2026

Countries covered

more than 50 countries

BOSS Money app transfer reach

Referral reward

$25

Refer-a-Friend program reward for successful referrals

Five-star reviews

more than 110,000

User ratings on Google Play and Apple App Store

App rating

4.9

FXC Intelligence top-rated money transfer app score in June 2025

Tax effective date

January 1, 2026

Start date of new federal remittance excise tax

Historical Context

5 past events · Latest: Feb 10

5 events

1. Feb 10

   Retail data update

   24h Move

   +1.7%

   January 2026 NRSInsights data showed higher same-store sales and transaction volumes.

2. Jan 09

   Retail data update

   24h Move

   -2.1%

   December 2025 NRSInsights report highlighted solid year-over-year sales and pricing growth.

3. Dec 09

   Retail data update

   24h Move

   +2.7%

   November 2025 report showed sales and pricing gains across a large independent retailer base.

4. Dec 04

   Quarterly earnings results

   24h Move

   +0.5%

   1Q26 results delivered revenue growth, record gross profit, higher margins and EPS gains.

5. Dec 03

   Legal ruling outcome

   24h Move

   +2.1%

   Delaware Supreme Court affirmed dismissal of all Straight Path-related claims against IDT.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ach, face id, mobile money

3 terms

ach financial

"funded with a debit card or bank account (ACH), customers can use the BOSS Money"

ACH (Automated Clearing House) is an electronic network banks use to move money between accounts, like a digital mail carrier that delivers payroll, dividends, bill payments and other transfers. Investors care because ACH affects how quickly a company can pay shareholders, collect revenue or move cash for operations; slower or disrupted ACH flows can change available cash, timing of dividends and short-term liquidity assumptions.

face id technical

"Secure, encrypted transactions with fraud alerts, Face ID, and passcode login;"

Face ID is a biometric authentication system that uses a device’s cameras and sensors to recognize a person’s unique facial features and unlock access or approve transactions, like a digital key tied to your face. For investors, it matters because adoption can drive sales and recurring service usage, improve user experience and retention, and create security or privacy risks that affect regulatory exposure, reputation and long-term device or platform value.

mobile money financial

"Multiple payout options including cash pick-up, mobile money, and in-country direct deposit"

Mobile money is a service that lets people store, send and receive money using a mobile phone instead of cash or a bank card — like carrying a digital wallet on your handset. It matters to investors because widespread use can create steady fee income, boost sales by making payments easier, and open new customer markets, while also introducing regulatory and security risks that can affect a provider’s growth and profits.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEWARK, N.J., Feb. 12, 2026 (GLOBE NEWSWIRE) -- A new federal excise tax on international money transfers funded with cash, money orders, or cashier’s checks went into effect on January 1, 2026. The cost of this tax, 1% of the amount transferred, will add up quickly for the millions of U.S. money transfer consumers who rely on international remittances to support loved ones overseas.

Fortunately, the BOSS Money international money transfer app enables customers to avoid the tax. BOSS Money is the remittance and payments brand of IDT Corporation (NYSE: IDT)

A Smart Way to Avoid the Tax: Go Digital

Because the tax applies only to transfers paid with cash or similar instruments but not to transactions funded with a debit card or bank account (ACH), customers can use the BOSS Money app to send money abroad without paying this new tax.

“The BOSS Money app has always made sharing with family and friends affordable,” said Michelle Rendo, head of marketing for BOSS Money. “If you don’t want to pay the new remittance tax, we invite you to try the BOSS Money app to send money transfers funded with your debit card or bank account.”

A Trusted, Cost-Smart Alternative

The BOSS Money app combines low rates, transparent pricing, and secure technology to offer a superior user experience with advanced features including:

• Debit and bank account (ACH) funded transfers to more than 50 countries;
• Transparent pricing with live fee and exchange-rate previews;
• Fast delivery options – often within minutes;
• Secure, encrypted transactions with fraud alerts, Face ID, and passcode login;
• Real-time transfer tracking with updates for both the sender and recipient;
• Multiple payout options including cash pick-up, mobile money, and in-country direct deposit to bank account and debit cards;
• Bilingual English/Spanish support;
• Refer-a-Friend program providing $25 rewards for successful referrals.

BOSS Money is consistently ranked among the highest-rated money transfer services with more than 110,000 five-star reviews, in total, on Google Play and the Apple App Store. In June 2025, FXC Intelligence named BOSS Money the top-rated money transfer app with a near-perfect 4.9 score.

About BOSS Money:
BOSS Money’s rapidly expanding international remittance service provides fast, secure and reliable money transfers for residents of the U.S. and Canada to popular destination countries in Latin America, the Caribbean, Africa, and South Asia. BOSS Money offers a robust menu of payout options including cash pick-up, mobile money, in-country bank account, and debit card direct deposit. Customers can remit funds through WhatsApp, the highly rated BOSS Money and BOSS Revolution apps, or through licensed Boss Money retailers. BOSS money is the remittance and payments brand of IDT Corporation (NYSE: IDT).

Contact:
IDT Corporation Investor Relations
Bill Ulrey
william.ulrey@idt.net

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FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How does the new 1% remittance tax affect IDT (NYSE: IDT) customers sending money internationally?

The tax charges 1% on transfers funded with cash, money orders, or cashier’s checks. According to BOSS Money, debit card and ACH-funded transfers are excluded, so using the app can avoid the excise tax for digital-funded transactions.

Can IDT’s BOSS Money app avoid the January 1, 2026 remittance tax for NYSE: IDT customers?

Yes. According to IDT, transfers funded by debit card or bank account (ACH) are exempt from the 1% tax, allowing customers to avoid the fee by using the BOSS Money app for digital funding.

What countries and payout options does BOSS Money (IDT) offer for tax-avoiding digital transfers?

BOSS Money supports transfers to more than 50 countries with multiple payout options including cash pick-up, mobile money, and in-country direct deposit. According to the company, real-time tracking and fast delivery are included.

Is BOSS Money (NYSE: IDT) rated highly by users and industry reviewers?

Yes. According to IDT, BOSS Money has over 110,000 five-star reviews on Google Play and Apple App Store and was named top-rated with a 4.9 score by FXC Intelligence in June 2025.

What security and user features does BOSS Money promote to IDT investors and customers?

BOSS Money offers secure, encrypted transactions, fraud alerts, Face ID and passcode login, plus live fee and exchange-rate previews. According to the company, these features aim to improve trust and transparency for senders.