Remittance costs in North America as of Q1 2024, by country

Published by
Raynor de Best,
Dec 10, 2024

Sending remittances to Mexico was cheaper than sending money from either Canada or the United States, as of the first quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.

Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in North America in 1st quarter of 2024

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Sources

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Release date

July 2024

Region

Canada, Mexico, United States

Survey time period

Q1 2024

Special properties

Includes cash, bank account transfers, credit cards, debit cards, prepaid cards, and mobile money

Supplementary notes

The source states it investigates 105 remittance receiving countries, compared to 48 remittance sending countries. It is therefore likely that not all countries have data for both situations.

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Topics

RemittanceGross Domestic Product (GDP) worldwideGlobal economyGlobal economic indicatorsCBDC (Central Bank Digital Currencies)
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