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Global remittance fees fall below 5% for first time
World Bank data shows average money transfer costs dropped to 4.9%, driven by fintech competition on South Asia and Latin America corridors.
The World Bank's quarterly remittance price index recorded a global average cost of 4.9%, the first reading under 5% since tracking began. The US–Bangladesh, US–Mexico, and UK–Pakistan corridors saw the steepest declines. Consolidated from two reports; figures match the published index.
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This story was consolidated from the following independent reports. Read every original source:
Sending money home is finally getting cheaper
Fintech price wars benefit migrant workers most on high-volume corridors.
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