UK Sends More Money To Nigeria Than To Any Other Country, Says Data From World Bank

The World bank studies the global remittance industry closely and its data is often revealing, especially because it is not always easy to track the real amounts of money sent overseas from one country to another – there are many different ways it can be done, and many different reasons for doing so.

Finder.com recently used World bank data to reveal that Nigeria is the most popular destination for outward remittances from the UK. The country accounts for almost 15% of all money sent abroad from the UK, followed by India (14.1%), France (6.7%), Pakistan (6.7%), and Germany (4.9%). Read more

Sainsbury’s Bank Partners With MoneyCorp, Reveals Reasons Why Brits Send Money Overseas

Last year, Sainsbury’s bank moved into the money transfer space, announcing a partnership with MoneyCorp that will allow their customers to transfer up to £100,000 overseas, either online or over the telephone.

In the process of setting up the partnership, Sainsbury’s uncovered some interesting facts about why Brits might want to make international payments. Read more

How To Compare The Best Money Transfer Services

The way that we send money abroad has changed almost beyond recognition recently, with the emergence of money transfer apps, instant transfer platforms, and even wearable technologies, that can arrange transfers in a matter of a few swipes.

Although this tech disruption has made the money transfer industry a much better market for consumers, it can still be confusing to navigate through all the noise, and find the best deals. Read more

World Bank Figures Reveals Falling Average Worldwide Cost Of Remittances

Remittance Prices Worldwide (RPW) is an organisation, affiliated to the World Bank, that monitors the costs incurred by those sending money abroad, across all of the world’s major remittance corridors.

Since 2009, when the average global cost of sending money anywhere in the world was calculated at a high of 9.67% of the total amount sent, the figure has been in steady decline, and the good news is that the latest figure, for Q4 2017, records another decrease in price, from 7.21% in Q3 ‘17, to 7.09%. Read more

Transferwise Launches 28 Currency Borderless Bank Account, But Faces Stiff Competition From Rivals

This content is sourced and brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

TransferWise is targeting “expats, second homeowners, freelancers and more” with a new bank account that allows users to make transactions in 28 different currencies. Read more