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According to Merriam Webster, “remittance” is defined as a transmittal of money to a distant place like another country. This transmission of money may be done through traditional money management methods such as a bank or through modern solutions like a digital money transfer platform.
As we continue into the new year, the remittance market is expected to expand despite a slight decrease in the amount transferred due to the COVID-19 pandemic. In fact, in 2022, experts project remittances to grow at nearly 5%.
Canada is a beautifully scenic country residing in North America. It contains ten provinces and three territories stretching from the Atlantic to the Pacific Ocean and northward to the Arctic, making it the world's second-largest country by a total area.
Canadians are known for their hospitality and generosity, with great pride for their country. Canadians are spirited people who enjoy escaping to explore the wonderful outdoors, hiking, and adventuring across varied terrain!
From giving back to their communities to helping loved ones with financial support, read inspiring stories behind why people use Paysend’s digital money transfer app. Customer satisfaction is the motivation behind everything we do here at Paysend. It is our goal to continue reducing economic barriers by providing users the ability to access money transfer options to send funds to their friends and family abroad.
When you open a bank account online or in-person, you will need to provide the bank, credit union, or financial institution with specific documentation which meets their eligibility requirements.
Certain types of accounts, such as saving accounts, joint accounts, or certificates of deposits (CD) have a minimum age or other additional specifications.
