Latest news from the remittance industry
How NRIs Can Save On Money Transfer Fees & Get Best Exchange Rate
NRIs often pay a heavy price to send their hard-earned money. In 2019, the average cost of sending $200 to India was 2.9% of the amount sent according to the World Bank data on remittances. On average, NRIs spent close to $2.4 billion in just fees and charges to send money home in 2019. In this blog, we will break down the various costs associated with sending money to India, and tips for saving on money transfer fees.
CompareRemit On Boards XE, Commits To Maximum Choice For Users
CompareRemit, the world's biggest online marketplace for cross-border money transfer service providers on boards XE Money Transfer. With the addition of Xe to its portfolio, CompareRemit expands its network of cross-border money transfer channels and offers users the most convenient and comprehensive experience at the lowest cost available.
New Money Transfer Rules In The UK From June 30, 2020
Starting June 30, 2020, six biggest UK banks; Halifax, First Direct, RBS, NatWest, Nationwide, and Santander will have a new system in place for when it comes to sending money to your home country. Other players like TSB said they will also follow suit and implement the new system by October 2020. The new scheme is in an effort to combat fraud that costs the UK more than £130 billion per year and to protect consumers from fraudsters from duping people into sending money to the scam accounts.