Albanian immigrants pay higher fees to send money home
01/03/2019 18:13
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Many Albanian families with their children abroad have been relying for years to remittances, money that immigrants bring to them.
According to the Bank of Albania, this makes 600 million EUR a year. But sending money to Albanian is not as easy as in other European countries.
The Bank of Albania notes that Albanians pay the highest costs for sending money to their relatives. For every 100 EUR they are sending home, they need to pay 9.4 EUR of commission. The average price for this fee in the region is 7.2 EUR.
But this is just the average. Some countries, such as Switzerland, have a fee of 25%; Germany and Great Gritain 10%, etc.
This is what makes many of them chose informal ways, through banks and Money Transfer Operations.
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