LIRNEasia is a regional ICT policy and regulation think tank active across the Asia Pacific

Work with us: We are currently recruiting for the positions of Big Data Researcher and Project Manager - Statistician.

What is the cheapest remittance mechanism of them all?

Last year as many as 190m migrant workers sent cash home, according to the World Bank. These remittances amounted to US$337 billion, of which US$251 billion went to developing countries. But the cost of sending hard-earned cash depends on both the source and destination. On average, sending US$500 from Spain to Brazil will incur a modest charge of US$7.68, or a 1.5% fee. Sending the same sum from the Netherlands to Indonesia costs a whopping US$86.41, a 17.3% charge. The Netherlands, Germany and Japan tend to be the priciest places to send money from. Costs are generally lowest in Russia, Saudi Arabia, Spain, Singapore, America and Britain. (

With hard times at our doorsteps, all we can say is a remittance mechanism that employs mobile communications would be an excellent idea. By the way, that is one area our research on Mobile2.0@BoP will focus.


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