The Appleseed Network has been committed to protecting consumers who send money to relatives or friends in a different country for well over a decade. These financial transfers, called remittances, are the most common financial transaction for immigrant Americans. Greater pricing transparency can lead to lower prices for transactions, resulting in savings for remittance senders and their families.
Appleseed, in conjunction with five of its centers, drafted "Sending Money: The Path Forward", a study to test the effectiveness of the new regulations in helping consumers make more informed choices. This study is a first look back at the consumer impact of the 2013 remittances regulations.
Additional Remittance Transfer Resources
Creating a Fair Playing Field for Consumers: The Need for Transparency in the U.S.-Mexico Remittance Market - 2006
To understand pricing dynamics in the international money transfer market place, Appleseed conducted a study in 2005 of the cost to transfer money from the U.S. to Mexico in four different states: Georgia, Illinois, Nebraska, and Texas. This report shares the results and offers recommendations to improve transparency in the remittance market.