Financiera del Bienestar can reduce costs in sending remittances

“What we’re trying to do through Wellness Financial is to reduce the transfer cost of remittances because obviously there is a cost and the more we reduce it, the better for the beneficiaries,” she said after her participation in the Women’s Financial Health Forum.

The undersecretary recognized that it is the private banks that have a significant flow in the arrival of remittances with 95% of the shipments, and development banks, such as the Banco del Bienestar, do not receive as much money.

He added that alliances will be sought with intermediaries abroad so that the costs of sending money to Mexico are lower.

Last year, Mexico received the record figure of 58,497.4 million dollars in remittances, a growth of 13.4% compared to 2021.