UK banks not best option for remittances to Developing Countries

Friday, April 1, 2005

Specialist money transfer companies are generally cheaper than high street banks for immigrants to send money home to developing countries from the UK and informal methods are the cheapest according to a survey published by the UK Department for International Development (DFID).
On Thursday DFID launched the results of the UK survey into the best ways for people to send money to relatives and friends in developing countries. This is the first survey of its kind in the UK, and addresses a chronic lack of information available to diaspora wishing to send money back to friends, family, and communities. The survey results are being made available through a full report? (1 mb) , summary? (20kb).?
Story found here.

Source: FinFacts Business News