ECONOMY FINANCE&BANKING

Remittances of just USD 3.2 bln from the 2.5 million Romanians working abroad

+ MoneyGram announces the launch of the cash-to-account service in Romania

 

Of course, it’s just a relative assessment. However, even so, it outlines the drastic drop in the amount of funds that Romanians working abroad “set aside” in order to send back to their country of origin. Compared to the start of this decade, the sums have almost halved.

According to MoneyGram representatives, the main sources of remittances were Italy (USD 937 M), Spain (USD 740 M) and Germany (USD 422 M). Likewise, money are also remitted from Hungary (USD 208 M), United States (USD 186 M) and Israel (USD 99 M).

MoneyGram has announced the launch of the cash-to-account service in Romania, a method for transferring money from abroad to any Romanian bank.

Likewise, the company’s portfolio includes the cash-to-cash (available in over 3,500 partner locations in Romania) and the cash-to-mobile (through the partnership with M-Pesa Vodafone) services.

“Romania is an important market for MoneyGram. That is why we continue to channel our efforts toward easing our clients’ access to money transfer services,” said Pete Ohser, MoneyGram International Vice President for Europe and America.

The company also offers utility bill payment services and issues payment orders.

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