$44 billion. That is the amount lost to remittance charges each year. That’s quite a sum - equivalent to over a third of all foreign aid - siphoned off by banks and big money transfer operators.
But things are changing. New digital players in the remittance market are providing some much needed competition to established providers, and costs are falling year on year.
With all these new providers entering the marketplace, people have more choice than ever when it comes to sending money abroad. Still, it can be difficult to cut through the noise and find the cheapest, most reliable options. Prices vary significantly by corridor, so you can never be sure which company will offer the cheapest service.
That’s where we come in. Our mission is to put you in control of your money transfers. That’s why we compare leading providers across hundreds of routes to help you find the deal that’s right for you. By giving people all the information they need to make an informed choice, we hope that we’re doing our bit to make remittances fairer. and bring down the cost of money transfers worldwide by facilitating effective competition.