The global redistributor we never hear about: money sent by migrants

Posted by therabbithole on Friday January 17, 2025 @12:08PM
from the ourworldindata.org dept.

( 2 comments | 2 points | on HN )

Re:The global redistributor we never hear about: money sent ... by therabbithole on Friday January 17, 2025 @12:13PM (#42740577)

International migrants send $781 billions per year to families back home. That's over >3x global aid.

About 6% goes to bank fees. Reducing these fees would unlock a huge amount of redistribution.

[ Parent | on HN ]

Re:The global redistributor we never hear about: money sent ... by kamaraju on Monday January 20, 2025 @08:29PM (#42775344)

The transaction fees are insane. For example, xe.com charges $3 to send $10 via an ACH transfer from US Dollars to Indian Rupees.

[ Parent | on HN ]