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According to Mexico's Central Bank, Mexican residents received $58.5 billion from people residing in the U.S. in 2022. And with so many people sending and receiving money between the two countries,...
U.S.-based money transfer firm Western Union Co, announced an agreement Wednesday with South American e-commerce giant MercadoLibre to send digital remittances to Mexico, which have become a ...
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.
The United States is currently the largest source of international remittances in the world, sending a total of $148 billion in 2017. [2] Mexico received the largest portion of these remittances, accounting for more than $30 billion USD. [3] making the U.S.-Mexico remittance corridor one of the largest in the world. [3]
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WorldRemit focuses on cross border remittance money transfers from over 50 countries to over 130 countries around the world. [8] For those receiving money, it offers pay out options including bank deposit, mobile money, mobile airtime top-up and cash pick-up as well as cash delivery. The firm has a network of more than 5,000 corridors.
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