Remittances sent to Mexico, a major support for the Mexican economy and in particular for low-income families, continued its historicRead more
Bank of America has quietly discontinued a program that allowed customers to transfer money to friends and family in Mexico for free.
The SafeSend program, started in 2003, was regarded as one of the lowest-cost options for international money transfers, also known as remittances. But the program failed to catch on in a market dominated by companies such as Western Union and MoneyGram.
Is this light at the end of the tunnel? Remittances sent to Spanish-speaking nations in Latin America by immigrants in the United States and elsewhere have recovered to pre-recession levels, with the notable exception of Mexico.Read more