3 ms·
The global redistributor we never hear about: money sent by migrants
- deleted 2y ago[deleted]
- therabbithole 2y agoInternational 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 2y agoThe transaction fees are insane. For example, xe.com charges $3 to send $10 via an ACH transfer from US Dollars to Indian Rupees.