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The global redistributor we never hear about: money sent by migrants
(
ourworldindata.org
)
3 points
by
therabbithole
11 months ago
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2 comments
therabbithole
11 months ago
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International migrants send $781 billions per year to families back home. That's over >3x global aid.
About 6% goes to bank fees. Reducing these fees would unlock a huge amount of redistribution.
kamaraju
11 months ago
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The transaction fees are insane. For example, xe.com charges $3 to send $10 via an ACH transfer from US Dollars to Indian Rupees.
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About 6% goes to bank fees. Reducing these fees would unlock a huge amount of redistribution.