When one tries to send money around the world, it is important to take the associated fees into account. Convenience comes at a fairly steep price in the remittance world, and fees can amount to double digits rather quickly. That being said, there is an increase in the number of both sending and receiving countries worldwide, indicating a lot of people are still using these services despite the costs.
At the same time, the costs associated with remittance seem to be decreasing. Based on the report published by The World Bank, the average cost of sending a remittance transfer sat at 7.37%, which is a decrease from the previous level of 7.52%. On paper, this may not amount to much, but it’s a small step in the right direction.
http://www.newsbtc.com/2016/01/12/bitcoin-remains-cheapest-cross-border-money-transfer-solution-despite-reduced-remittance-fees/
