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On March 4, 2024, the Inter-American Dialogue released the report “Transaction Costs and Money Transfer Operators – A Review of Costs by MTO Receiving Countries.” The report, produced by Manuel Orozco, director of the Migration, Remittances, and Development program, and Patrick Springer, program associate, for the Inter-American Dialogue’s Remittance Industry Observatory (RIO) details remittance prices for over 12 remittance service providers (RSPs) in the region across a selection of nine key countries. In 2024, the cost to send US$200 to the region is 3.89 percent, while the cost to send US$400 is even lower at 3.22 percent.
Using data collected in the months of January and February, 2024, the report presents the findings for both unweighted and weighted remittance transfer costs, costs by country, and foreign exchange margins by country.
This report is a product of the Remittance Industry Observatory (RIO), an initiative of the Dialogue that seeks to improve knowledge and information about the remittance market.
