On Thursday 31 March DFID launched the results of a UK survey into the best ways for people to send money to relatives and friends in developing countries. This is the first survey of its kind in the UK, and addresses a chronic lack of information available to diaspora wishing to send money back to friends, family, and communities. The survey results are being made available through a full report (PDF) 1MB, summary (DOC), website and country specific leaflets.

International Development Minister Gareth Thomas opened the launch event with diaspora and community leaders, senior bankers and money transfer operator representatives, government agencies and press. Gareth Thomas said that:

“We commissioned this report to encourage competition among money transfer operators to ensure openness and lower costs.”

“We want to make remittances contribute more effectively to international development, and making it easier and cheaper for people to send money home to families and communities abroad is an important way to do this. We also want to ensure that it’s easier for people in other countries to access the money.”

The minister also called on banks, building societies and money transfer organisations to view diaspora in the UK as an attractive market for financial services, including remittances, and to further improve their service offer to them.

Read the full DFID and Banking Code Standards Board-funded UK Remittances Products Survey (PDF) on money transfer products to Bangladesh, China, Ghana, India, Kenya and Nigeria.

A brief summary of the report is also available (DOC).

Visit www.sendmoneyhome.org to compare the range, the cost and the availability of money transfer products for each of the six countries.

Leaflets providing information on money transfers to each country are available, and will be translated into at least 4 languages. 500,000 leaflets will be printed and widely distributed and are available from www.sendmoneyhome.org or by calling PBI on 020 7332 6277.

Vicky Seymour V-Seymour@dfid.gov.uk

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