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Why Citizens of Developing Nations Need Better Remittance Services
Apr 21 2021 · 11:57 UTC | Updated
7 hours ago
Photo: Bococoin
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Many citizens from developing nations are working abroad to improve the quality of their lives and support their families. At the same time, financial institutions are using them to take huge cuts from their remittance payments.
It’s a common practice among citizens of developing nations to remit money back home to help and support their families.
According to the World Bank’s estimates, remittance flows to low and middle-income countries are projected to reach $470 billion in 2021, even with a 7.5% decline from last year.