NewsBTC - Bitcoin Remains Cheapest Cross-Border Money Transfer Solution Despite Reduced Remittance Fees

[jdebunt]

Bitcoin is often touted as the long-awaited answer to expensive remittance solutions, such as Western Union and MoneyGram. Sending money overseas is a very costly manner, even when using bank transfers, But a recent report published by The World Bank shows how remittance transfer fees have started to decrease slowly throughout December 2015.

http://www.newsbtc.com/2016/01/12/bitco ... ance-fees/

[iFixBTCmemoryIssues]

Bitcoin is often touted as the long-awaited answer to expensive remittance solutions, such as Western Union and MoneyGram. Sending money overseas is a very costly manner, even when using bank transfers, But a recent report published by The World Bank shows how remittance transfer fees have started to decrease slowly throughout December 2015.

http://www.newsbtc.com/2016/01/12/bitco ... ance-fees/

Over the course of many, many years - WU has charged me in excess of $50K easily! Moneygram too, only about 20% though.

fees like, $150 for this transfer, $30 for that transfer, $80 for this transfer, and it goes on. Not to mention the juicing of exchange fees!

Bitcoin has not cost me anything per say, besides the extras I give out as gratuity.

Why the bankers are scared of Bitcoin