In this episode, we're going to learn about remittances in different parts of the world. For some of us it feels pretty seamless and easy to send and receive money, but for others, especially people who don't have a traditional bank account, it can feel impossible to exchange money across large distances. How is someone from a small town in Guatemala who is paid in the currency of another country supposed to send money back to their family if their loved ones don't have access to a bank? Often the solutions are costly, slow, and sometimes even dangerous if you have to physically carry cash for miles. But if you can access the internet from wherever you are, why can't you just move your money digitally? We'll explore the differences between regions from Eastern Europe to Latin America and get a sense of the remittances landscape and how money movement can become more inclusive.
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Disclaimer
- Actual fund availability varies by receiving financial institution, receiving account type, and whether transaction is domestic or cross-border.
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- Twelve months 1 October 2021 – 30 September 2022. Visa Inc, Quarterly Results, Q4 2022 Transcript.
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