Remittance costs for 200 USD in 20 countries in Latin America as of Q1 2024

Published by
Raynor de Best,
Aug 21, 2024

Sending remittances to Cuba was twice as expensive in the first quarter of 2024 than to other countries in Latin America, such as Brazil or Dominican Republic. 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 Latin America in 1st quarter of 2024

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Sources

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Release date

July 2024

Region

Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname

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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