KEY FINDINGS INCLUDE:
- Digital or online-based remittance transactions represent at least thirty percent of all transfers to major countries.
- Transfers (online or offline) deposited into the home country relative’s bank accounts represent at least twenty percent of all transfers.
- Mobile wallets allow for capturing funds among unbanked individuals, including the remittance transfers they receive.
- Money transfer operators continue to offer the lowest transaction cost compared to other types or remittance service providers.
- Average transfer costs for sending USD $200 have remained stable at six percent.
- There is not a single factor that predominantly explains money transfer costs.
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