A five per cent cut in remittance fees would free $16B globally: World Bank
Ottawa ACORN picketed a downtown payday loan outlet to protest what they say are excessive fees companies like Western Union charge immigrants to send money back to their home countries.
In order to send $106 to his brother and sister in Afghanistan, Tahir Nazari said he had to pay a $13 fee, a bite of about 12 per cent.
“I think it is not fair,” he said.
Western Union spokesman Daniel Diaz said sending is cheaper than it used to be, because increased competition and other factors have actually driven their fees down in past decade.
“We take pride in offering consumers excellent value for their dollar,” he said. “This does not always mean that we are the lowest-priced service provider.”
While there are many other options for transferring money internationally, ACORN says Western Union, which is heavily advertised, is the most accessible for people who are not familiar with the banking system, and in some parts of the world it is the only local option available.
Original article available t: http://www.metronews.ca/ottawa/local/article/1068487--acorn-takes-on-western-union-s-fees