Sentence examples for new remittance from inspiring English sources

SureRemit plans to leverage this network for its new remittance focused crypto token.

In a call, Pockit founder Virraj Jatania told me the new remittance service is part of the 2013-founded startup's mission to bring a range of cost-effective digital banking products to customers currently underserved or financially excluded by traditional banks who don't see a lot of money to be made by serving this segment of the market, despite regulatory pressure to do so.

For more information on the new remittance transfer rule, visit this CFPB site.

Siam Commercial Bank, Thailand's third-largest commercial bank, is waiving its 200-baht ($7) fee for new remittances to Myanmar, at least until May 31st.Dragging the informal financial flows between Thailand and Myanmar the two countries with the biggest shadow economy relative to GDP in Asia into the daylight will take time.And the informal transfer of cash is only the obverse side of the coin.

New sorts of remittance firms are allowing people to send money to relatives back home using pipelines that bypass banks and other traditional intermediaries, helping to bring down the hefty fees charged on such transfers.

From a development perspective, these new channels for remittances are good news.

More bank accounts, meanwhile, help individuals take advantage of newer, lower-cost remittance services.

But a new study of remittances sent home by Ghanaian migrants suggests that on average they transfer enough over their working lives to cover the amount spent on educating them several times over.

But it is still a niche service, and it is not clear yet whether similar products will ultimately offer the mass market a better option than the status quo (including newer digital-only remittance providers) on security, speed, cost and ease-of-use.

"As the emphasis tips away from remittances to new trading relations, you need things like letters of credit, so there are gaps in the current system," said Mohammed Yusef, chief executive of Petrosoma, an oil exploration company based in Somaliland.

Tom Robinson, a 32-year-old entrepreneur who was present at the 90-minute meeting, and aims to launch a virtual currency exchange called BitPrice, said that the principal complaint was that banks are blocking the creation of new accounts for money remittances.