Banking Across Borders: The Future of the U.S.-Mexico Remittance Corridor

Banking Across Borders: The Future of the U.S.-Mexico Remittance Corridor
Authors/editors: Taparia, Vivek
Type: journal
Publisher: Bureau of Business Research, The University of Texas at Austin
Series: Texas Business Review
Date: 2005-02
Full text: http://hdl.handle.net/2152/14920

Description

In 2004, Mexican immigrants in the United States sent a record of $16.6 billion dollars to their relatives in Mexico. Cross-border consolidation of banks has created the opportunity for migrants to send money home at no cost. However, most migrants do not choose this cost-free option of sending money home. This is due to the various barriers detering migrants from using banks. But this is changing. Political-economic developments are leveling these barriers, clearing the way for increasing numbers of migrants to use financial institutions for remitting money to Mexico.

Permalink