What are remittances? Kondosev Explains Its Importance – Uno TV

What are remittances?  Condusef explains its importance
Most transfers are sent from the United States. Photo: shutterstock

One of the most common terms in finance is Transferswhich refers to the amount of national and foreign currency that comes from abroad, that a person sends to his relatives, he explained condos (National Committee for the Protection and Defense of Users of Financial Services).

  • Remittances have allowed many Mexican families to breatheShe added dependency through her magazine, because it helps them maintain consumption in their homes, in addition to boosting the country’s economy protect your money

Families, when receiving the transfers, have the potential to “cover at least 50% of their food expenses, and in some cases, this percentage can go up to 70%,” she stated. condos With data from the Bank of Mexico (Banxico).

Where do remittances come from?

Most come from the United States, but there are also shipments from Canada, the United Kingdom, Ecuador, Colombia, Chile or Spain.

Where were they sent?

Due to technological advancement, remittances are largely sent by wire transfer, cash or in kind; Before they use postal money orders.

In addition, according to data from the United Nations, in 2020, during the epidemic, the adoption of digital technology by migrant workers and their families grew, with remittances sent using mobile technology increased by 65% ​​during the epidemic. in that year. This option continues to open up new pathways for the financial inclusion of migrants,” he added condos.

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Is there a day for transfers?

  • The June 16 is International Family Remittance DayThe date was declared by the United Nations General Assembly to commemorate the memory of migrant workers and recognize their efforts to contribute financially to their countries of origin.
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