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How do remittance agents make profits?

How do remittance agents make money?

  • Answer:

    Either through commission basis or percentages.

Bing1414 at Yahoo! Answers Visit the source

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Percentages.

Aref H4

2 ways, from the exchange rate and from commission paid.

peanutz

Usually agent will charged a commission percentage from the amount of money you want to sent and also from the exchange rate. Western Union is well known in many countries. the receiver can receive money within minutes depend of the country you sent to. However the commission is quite high. Eg: Sending of USD $300 from Singapore to Vietnam cost about SIN$50.00. Hope it answer your question

Apollonia

Through commissions. ^_^

ScarletRaven

Fees charged and exchange rates incurred from sent and received remittances that add up to 9.5 to 15 percent of the amount sent.

shirley g

percentage and service fee

wandering_pinoy

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