More Transparency is Coming to Remittances in 2020

According to McKinsey $10 trillion is sent across borders by consumers and small businesses every year; however it is an industry which is known for charging customers very high rates; the World Bank estimates that the average cost of a remittance is 6.94% of the transfer value; TransferWise has been one of the leaders in driving down costs for many years; Taavet Hinrikus, co-founder and chairman of TransferWise writes in Wired how 2020 is the year that the banks wake up to transparency; one of the big changes is the new landmark ruling from the EU’s Cross-Border Payments Regulations which will require banks to disclose the full costs of international transactions up front. Wired

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  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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