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remittance
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labor-exporting countries.According to the World Bank, in 2018 overall global remittance grew 10% to US$689 billion, including US$528 billion to developing countries. Overall global remittance is expected to grow 3.7% to US$715 billion in 2019, including US$549 billion to developing nations.Due to its large diaspora and overseas expats population, India consecutively remains the top receiver of remittance, e.g. with US$80 billion in 2018, US$65.3 billion (2.7% of India's GDP) in 2017, US$62.7 billion in 2016 and US$70 billion in 2014. Other top recipients in 2020 were US$67 billion to China, US$34 billion each to Philippines and Mexico and US$26 billion to Egypt.
Any idea paanu makatipid sa fee?0Gusto ko magpadala sa Austria ng 100k. Matipid ba kung galing sa Phil bank ang pera tapos digital transfer nalang sa bank nya dun sa Austria?or it depends sa mga bangko kung meron silang ganitong service to transfer money abroad. Iniisip ko esend thri remittance...
Ano po best remittance apps na gamit nyo?
Currently using coins.ph, pero after an update pangit na sya. Mahal na transaction fee at matagal pa magprocess.