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| Momodou |
Posted - 17 Apr 2014 : 11:40:14
One gets more for the money if you give to a trustworthy person travelling home. The rate is better but of course it depends on the urgency.
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Remittance fees hurt Africans, says Comic Relief
BBC: 16 April 2014
Communities in sub-Saharan Africa are being "hurt" by high fees charged by money transfer operators, charity Comic Relief has said.
Restricted competition has helped push up charges, according to research by the Overseas Development Institute (ODI).
Money transfer company Western Union said that fees were set according to factors such as local taxes.
The company "delivered much-needed services to individuals", it added.
'Duopoly'
The research found that average fees of 12% to send $200 (£119) were twice the global average.
Read full story |
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| toubab1020 |
Posted - 01 Aug 2014 : 17:04:58
"a trustworthy person travelling home.The rate is better but of course it depends on the urgency."
I read your words Momodou,AGREED "The rate is better" but as EVERYBODY should know by now,NOTHING in this world now is FREE.
The rates which money transfer companies charge is out of all proportion to the WORK involved,a few clicks on the computer, job done,I have not bothered to look at the profit made by the companies mentioned in the story (and no I wont !! KOBO, want to pass a few hours ?) but I expect it to be an extremely healthy PROFIT margin.
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