One of the most commonly heard terms in finance is remittancewhich refers to the amount of national and foreign currency originating from abroad, which is sent by a person to his relatives, explains conducive (National Commission for the Protection and Defense of Financial Services Users).

• Remittances have allowed many Mexican families to breathebecause it helps them maintain consumption in their homes, besides boosting the country’s economy, increasing dependence through the magazine protect your money

Families, upon receipt of remittances, have the possibility “to cover at least 50% of their food costs and, in some cases, that percentage can increase to 70%”, stated conducive with data from the Bank of Mexico (Banxico).

Where do the remittances come from?

Most come from the United States, but there are also shipments from Canada, the United Kingdom, Ecuador, Colombia, Chile or Spain.

Where were they sent?

Due to technological advances, remittances are mostly sent via electronic transfer, cash or in kind; before they used to send by money order.

“In addition, according to data from the United Nations, in 2020, during the pandemic, the adoption of digital technology by migrant workers and their families grew, as remittances sent with mobile technology increased by 65% ​​during the pandemic. , this option continues to open new avenues for the financial inclusion of migrants,” he added conducive.

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Are there remittance days?

• It June 16 is International Family Remittance Daythis date was proclaimed by the General Assembly of the United Nations, to commemorate and recognize the efforts of migrant workers to contribute financially to their countries of origin.