New, cheaper way for cross-border remittance
Lim Siew May | 30 Mar 2018 00:30
While there are different means to transfer your funds overseas, disruptive technology has driven the cost of remittance to new lows
We are living in an era where globalisation is a feature of any emerging economy. There are thousands of knowledge workers coming from foreign lands to work here. Likewise, many Malaysians also work overseas.
Hence, in a globalised era, transferring money overseas has become a norm. The money transfer could be due to foreign investment, supporting a child’s education overseas, sending loved ones who reside overseas monetary gifts or helping family members out with a loan.

Unfortunately, some of the major pet peeves associated with cross-border money transaction are the unfavourable exchange rate and transaction costs. As remittance of money is increasing, FocusM takes a look at the different ways to remit money across borders.
Those who frequently remit money across borders will be surprised that there are several cheaper options, thanks to disruptive technologies that have driven down the costs.