Migrants’ Remittances from the United Kingdom : International Remittances and Access to Financial Services for Migrants in London, UK, A Greenback 2.0 Report
This report will share key findings fromthe research, starting with an overview in section two ofthe international remittance context and the UK remittancemarket. It also provides a view on trends in the UK market,particularly in the wake of significant bank de-risking,leading many remittance service providers (RSPs) to seek outalternative banking solutions. Section three outlines theobjectives of the research, the survey design and thesampling techniques for the fieldwork. This is followed bySection 4, which presents the empirical findings of the 602interviews collected. It begins with demographic andeconomic characteristics of the participants before focusingon migrants’ attitudes and behaviors regarding remittancesending, using financial services, and savings andinvestment. Given the current environment for remittanceservice providers in the UK (and in several other countries)and the global commitment to reducing remittance costs,there is a focus on the service providers used and the costsincurred. Finally, the report concludes with a summary ofthe main findings and provides recommendations on addressingthe barriers and issues faced by migrants in Londonregarding financial and remittance services, as well aspotential areas of further inquiry.
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