What the economy receives
Families may use transfers for daily purchases, education or housing. Aggregate flows do not reveal how income is distributed across residents. Informal channels make measurement harder.
FinFly Explains / Economy
Remittances: how much reaches the family
Money earned abroad and sent home supports household spending. It is not government investment or a bank loan.
The fee is not the whole cost
Compare the fee and exchange rate together. A zero advertised fee does not eliminate conversion costs. The World Bank methodology includes both components in transfer comparisons.
Before sending
FinFly checklist: compare the same sending amount and route, receiving currency, final payout, delivery time and collection method. Ask about possible recipient-side deductions.
An average is not your quote
An international database records observations for particular routes and amounts, not a provider promise. Obtain a current quote. Remittance statistics do not establish the tax treatment of an individual payment.
Method
Primary sources
The explainer is checked against these institutional and industry sources. Links open the original material.