Do you know Mexico It was one of them main receiving country remittances in the world, according to the World Bank (WB). Many Mexicans live in Overseasespecially in United States of Americausually support their family finances by sending money to their place of origin, so UN proclaimed on June 16 as International Family Remittance Day.

According to the magazine Protect your money June of this Condusef year, that consignments has allowed them to provide rest for many Mexican families, because they help maintain consumption in their homes, in addition to boosting the country’s economy.

Due to its importance, according to the portal Union of nations (UN), that General Assembly This organism is proclaimed to celebrate every year International Family Remittance Dayevery June 16.

“On this day, the contributions of more than 200 million female and male migrant workers who sent money to more than 800 million of their relatives in their home countries are commemorated,” the United Nations said.

Remittance in Mexico

Specifically, In Mexico, remittances are part of the income of 1.6 million Mexican households, So in this article we will tell you what remittances are and how they support financial inclusion.

“There are many Mexican families who benefit from receiving remittances, and if you’re wondering where it comes from, according to data from Banxico, by the end of 2020, 95 percent of the remittances received in the country came from the United States,” reports The magazine. conducive.

The country is followed with a 5 percent share by countries like Canada, United Kingdom, Ecuador, Colombia, Chile, Spainamong others.

Also, remittances are an important resource for our country, because during 2021 a total of 51 thousand 594 million dollars came inrecord numbers for deposits for this concept.

In this way, half of Mexican households have the possibility to cover at least 50 percent of their food expenses, and in some cases that percentage can increase to 70 percent.

Remittance in their early days

You know that 20 years ago remittances were sent via postal money order or banks that are interchangeable through some financial institutions. Currently, 98.9 percent of remittances are sent via telectronic transferand only 0.7 percent were made by sending cash or goods.

Evolution in the process of sending remittances to Mexico continues to innovate due to the recent launch of debit cards Paisano Money Transferso that migrants can send their resources to Mexico without paying a commission.

“People who receive money in our country will be able to do so in minutes and in better conditions, in a safer, more reliable and efficient way. In addition, this card is recognized in several places, so they can use it. for the necessary purchases. for families”, refers to the publication.

Through Telecomm, most Mexican residents will be able to draw on their resources, as half of the available branches are located in rural areas of the country.

Also, Telecommunication announced that the maximum transfer amount in remittances is 7 thousand 499 dollars and there is no minimum amount.

Furthermore, according to data from Union of nations, in 2020 amid the pandemic, the adoption of digital technology by migrant workers and their families is increasing; Meanwhile, remittances sent with mobile technology increased 65 percent in the same year, which helps people financial inclusion.

At the end of 2021, Mexico I know world number three about accepting foreign currency stranger, be the first and second overall position, India you China respectively, asremittance recipient for family economy, according to data from World Bankl.

MRA