The International Day of Family Remittances
The International Day of Family Remittances (IDFR) is celebrated every year on 16 June.
A family remittance is the money sent by migrant workers to support their families and loved ones back home.
According to the International Organization for Migration (IOM) there are 258 million international migrants globally (or 3.4% of the global population) who live outside their countries of birth.
They often send money back home to provide their families with health, nutrition, education opportunities. Remittances to low- and middle-income countries are expected to reach $550 billion in 2019, according to the World Bank’s latest Migration and Development Brief.
Remittance companies
Banks continue to handle the majority of remittances. However in recent years online money services and fintech companies are emerging as mobile technologies make it easier and faster to send money worldwide and allow to reduce the costs.
But despite the changes, costs remain very high. According to the World Bank’s Remittance Prices Worldwide database in Q1 2019, the Global Average cost for sending $200 remained at 7 percent, roughly the same level as in previous quarters (figure 1.5)
Banks are the most expensive remittance channels, charging an average fee of 10.2 percent in the first quarter of 2019. Post offices are the next most expensive, at over 7 percent.
In this case online money transfer services like Paysend can be the most convenient method of sending and receiving remittances.
Paysend, as the only global card-to-card money transfer network that currently operates in over 70 countries worldwide allow customers to transfer funds to any card overseas at a fixed price, using real exchange rate with no traditional fees.
For migrants and their families it’s time and cost-saving to send money with Paysend. Rather than spending a lot of time traveling to the bank, they can spend their time more effectively. With Paysend migrants can make a transfer from any location, at any time on the website or in the mobile app and check the total cost of sending. PaySend customers will also benefit from PaySend’s ability to send money at a fixed low price without any hidden fees or charges.
Online money services reduce security concerns associated with carrying cash
Using traditional methods, senders and recipients have to take the risk of carrying cash to or from the bank, making them susceptible to theft.
Sending and receiving remittances via Paysend allow to minimise these cash-handling risks.
At Paysend the recipients are able to see the incoming transfer and be able to immediately direct it to any Visa, MasterCard, UnionPay card or a bank account of their choice or withdraw cash at any ATM worldwide.
As part of the remittance industry, we are happy to support the observance of this day.
Here at Paysend we see on a daily basis just how vital that money is to individuals and families. We’re determined to make international money transfer cheaper, faster and simpler, and bring families closer together and help them stay connected across continents.
Thank you to all our customers who trust us with their hard-earned money to deliver it safely to their families.
最新帖子
Back-to-school season can be one of the times of year you feel furthest from the people you love. It's also one of the most expensive – school supplies, uniforms, tuition, and everyday essentials all add up at once. Many people help cover these costs by sending money internationally to family abroad. To support that, new Paysend customers get a fee-free first transfer at a better exchange rate during the back-to-school period.
Whether you're helping pay for school or everyday expenses, an international transfer can get support to the people who need it, when they need it. Paysend lets customers send money to more than 170 countries through secure, straightforward payment methods — here's how to sign up for free and claim the offer.
每个月，数以千计在捷克工作的人都会把部分工资寄回家——其中许多是支持着边境另一边家人的乌克兰人。而传统方式让本应简单的事情变得更复杂：银行汇款需要 IBAN 和 SWIFT 代码，手续费往往在钱汇出后才显现，还要等上好几天，而家里的人正等着这笔钱应急。
多年来，Pavel Štich 一直在帮助他的读者解决这个问题。他是 Moneyo.cz 的联合创始人兼财经主编——这是一个独立的捷克平台，专门比较汇款服务、股票经纪商和另类投资；同时他也是 Paysend 大使，这意味着他会亲自试用自己推荐的一切，用通俗易懂的方式讲解，并为读者带来专属福利。我们请他谈了谈 Moneyo 是如何诞生的、谁在阅读它，以及他为什么选择了 Paysend。
