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Remittance Payments have been Too Costly for Malaysian Consumers, with Many Giving Up on them Completely: TransferWise Survey
A survey performed by UK-based
TransferWise, a leading online money transfer service, has provided insights on how the Coronavirus crisis has impacted consumer behavior, particularly how remittance payments are handled by individuals residing in Malaysia.
The survey revealed that approximately 50% of people in Malaysia find the relatively high cost of making remittance payments to be quite a challenge, which has led to nearly half of the survey respondents (48%) lowering the amount sent and over a third (35%) completely giving up on sending remittance payments.