Quarterly cost of sending 200 USD worth of global remittances 2023, by payment type
Remittance fees when using cash were relatively expensive, but not the highest in the world. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers across the world. Remitting towards any country in the world incurred an average cost of roughly 7.34 percent over the course of 2023 if they involved a bank account transfer. Mobile money was cheaper compared to the other payment instruments, but its costs grew relatively fast in 2023.
