Electronic Cash News @

It is amazing how costly it still is to send money between countries. Most people still use a money transfer agent such as Western Union or use a bank wire transfer to send money to relatives and families.
Even with the high cost of money transfer, money sent back to relatives is the largest source of foreign investment for many African and Latin American countries.
I’m sure that with the advent of the internet and electronic banking, it will continue to get easier to send money internationally in the next few years. Prepaid debit cards are getting to be more common even for international money transfer. A big advantages for using prepaid debit card besides the costs and convenience is that you have less opportunity of being robbed. With a prepaid debit card, you do not need to pick up cash at a money transfer agent. See WorldChanging posting:Another World Is Here: Remittance – New Ways to Send Money Home for more information on the current state of International money transfer.