This memo provides input on a current problem affecting family remittances: the bank account closures of money transfer companies. The memo analyzes the trends and presents some of the consequences and implications as identified in the research. It concludes by discussing solutions and recommendations suggested by industry experts.
The memo draws from multiple sources, including previous research, interviews with remittance experts and members of the Remittance Industry Observatory, and media and data analysis in order to offer a fresh look at a persistent issue in the industry.
