Sending Remittances to Nepal
The Nepal Rastra Bank (NRB) recently asked the government of Nepal to subsidize or otherwise reimburse fees associated with money remittance. Bank officials assert that such assistance may encourage workers to use formal, safe mediums to transfer money. Currently, the country faces a major problem with illegal money transfers and smuggling. Continue reading Nepal Rasta Bank Considers Reimbursing Remittance Fees
Money Transfers to the Philippines
Filipinos living around the world sent more money home last December than ever before. Cash remittances to the Philippines have grown by 6.6% yearly. These international transactions reached $2.317 billion in December — the most the Philippines Central Bank has recorded since 1970! Continue reading Remittance to Philippines Skyrockets
International Money Transfer
Immigrants commonly use money transfer to help their families in their native countries. The recent increase in both legal and undocumented immigration in the U.S. has led to an increase in money remittance at a rate of billions of dollars a year. Experts predict these numbers will continue to rise given the number of immigrants finding work in the U.S. Continue reading Increase in Domestic Immigration Means Remittances Will Rise
Money Remittance Safety Tips
To prevent fraud when sending money, you need to be diligent and use secure networks. Online money transfers are generally affordable and fast, but they’re not always secure. In fact, the explosion of the remittance industry has been something of a double-edged sword for customers. On one hand, the proliferation of new technologies and remittance support services are making it easier for people to support friends and family back home. On the other hand, the success of the industry has attracted some less than ethical companies. Continue reading How to Transfer Money Securely
Money Transfer To Mexico and Beyond
Many U.S. immigrants from Latin America send money and portions of their income back to their families. In 2011, the 54 percent of Spanish speaking immigrants who send money home sent $53.1 billion in remittances – more than 8 times the official federal aid. That all occurred while America found itself still struggling with recession difficulties. (During the U.S. housing crisis in 2008, remittances went down.) Continue reading Remittances to Latin America on the Rise
Transferring Money Around The Globe
Remittance patterns across the globe tend to follow patterns of migration.
The spread of globalization has accelerated migration trends and indirectly influenced many industries, including the remittance industry. Per the United Nations, 230 million people lived abroad (outside their home countries) in 2013. Per the World Bank, “remittances sent home by migrants to developing countries are equivalent to more than three times the size of the official development assistance.” Continue reading How Migration Influences Remittance
Money Transferring Increases In Vietnam
Money transfers can help families and businesses separated by thousands of miles to stay financially connected. Both businesses and individuals can benefit from the remittance process — the primary way to send money to other countries outside the United States. Lucky Money provides money transfers to India and other countries in Asia, such as Vietnam. We recently read a report that revealed that the Vietnam remittance industry is expected to reach $5 billion in 2014. That’s an increase of about $1 billion from last year! Continue reading Vietnam Money Remittance
Sending Money Online Has Surprising Benefits
In July, workers sent $1.48 billion to their families in Bangladesh, representing the country’s highest-ever month for receiving remittances from migrant workers. Continue reading Remittances Transform Bangladeshi Economy
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The more money your friends send, the better your exchange rate will be.
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Increased Exchange Rate
Example: All of your referrals have sent money this year totaling $17,500. This means your reward rank is Silver level. You will receive +.05 increase on exchange rate to the current exchange rate. You can send up to the Silver Cap on Transfers at the +.05 increased exchange rate.
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Trends In Money Transferring
Remittances represent a crucial service for those who need to send money online to family members in other countries. By transmitting funds in this matter, you can help loved ones receive money quickly and safely while avoiding excessive fees and travel. Continue reading Growth of the Remittance Market