Money Transfer/Remittance Companies as forex

Money Transfer/Remittance Companies as forex

Remittance companies perform high-volume low-value transfers generally by economic migrants back to their home country. In 2007, the estimated that there were $369 billion of remittances (an increase of 8% on the previous year). The four largest receive $95 billion. The largest and best known provider is Western Union with 345,000 agents globally.