Growing Demand of Secured Financial Transactions
Remittance Service can also refer to the accounting concept of a monetary payment transferred by a customer to a business. A remittance is a transfer of money by a foreign worker to his or her home country.
Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. Estimates of remittances to developing countries vary from International Fund for Agricultural Development's. Remittances contribute to economic growth and to the livelihoods of people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion. Remittances also foster, in the receiving countries, a further economic dependence on the global economy instead of building sustainable, local economies.
Remittances are playing an increasingly large role in the economies of many countries, contributing to economic growth and to the livelihoods of less prosperous people. The World Bank and the Bank for International Settlements have developed international standards for remittance services.
As remittance receivers often have a higher propensity to own a bank account, remittances promote access to financial services for the sender and recipient, an essential aspect of leveraging remittances to promote economic development.
The stability of remittance flows despite financial crises and economic downturns make them a reliable financial resource for developing countries. As migrant remittances are sent cumulatively over the years and not only by new migrants, remittances are able to be persistent over time. At the state level, countries with diversified migration destinations are likely to have more sustainable remittance flows.
Sending money to Pakistan has never been easier. ATMCASH offers the safest and most convenient way to send money the Pakistan 24 hours a day, 7 days a week. Sending money to Pakistan using ATMCASH’s breakthrough money transfer service with low fees, unmatched security and the convenience of transferring money online or by phone.
If you are trying to figure out how to send money to Pakistan, you must know that you are not the only one. With the Pakistani immigration rate expected to rise by 130,000 citizens per year, to one country or another, there are a lot more people out there who also need to learn how to send money to Pakistan.
Just like with any other group of immigrants, Pakistani citizens that immigrate to other countries want to figure out how to send money to Pakistan in order to help their loved ones financially. In many cases, it could possibly mean the difference between their loved ones living comfortably and surviving or having to live in poverty. Remittance payments sent back to Pakistan from the immigrants equaled 4.3% of the country’s GDP in 2007. With the country being in political turmoil, the reliance upon remittance payments has been increased.
Remittance payments not only help the recipients and the families thereof, they also help boost the economy of Pakistan. With more money coming in to the country, the economy gets the boost that it needs through consumer spending and the alike.
Now, you can see why learning how to send money to Pakistan is so important. From the United States alone, in 2007, Pakistan residents received approximately $733 million in remittance payments. This number has rose by $200 million over the previous year.
Send money to Afghanistan you need to: Sign up with ATMCASH, tell us who to send the money to and how much to send. You can use your credit card or checking account. ATMCASH sends your friend or relative a prepaid ATMCASH card via FedEx and sends you the secure PIN code via the mail. The recipient can then withdraw the money at any ATM in Afghanistan that accepts MasterCard using their ATMCASH card once you reveal to them the PIN.
Our customers in Afghanistan appreciate no more waiting in lines or expensive fees. You can withdraw as much cash as you need when you need it. There is no need to carry around all the cash at once. The card recipient can add additional funds whenever you want.
Ariel Linford - About Author:
Lorenzo is working as a professional content writer for more than two years. Along with his profession, he has experience of working as a content manager in Remittance Service. During his career he wrote many knowledgeable articles on Send money to Afghanistan and many more. Hope his writing will be effective for you as well.
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