The Better Half Of Remittances

Expat life
07 Mar 2018
2 mins read
Written by Team Instarem
This article covers:

    From flying an aircraft, fighting for the honour of their country, to leading the pack in innovation & entrepreneurship, women around the world are breaking gender stereotypes every day. Yet, women continue to battle the stigma of being the ‘weaker’ sex in many spheres of life — the most important being financial credibility. Be it the gender pay gap or the ability to support her family, a woman’s contributions are always considered to be ‘lesser’ in comparison to her male counterpart.

    The international remittance industry is no different. When it comes to overseas money transfers, the general perception is that it’s men who move out of their home country to support their families, as is evident in the following case: Jesus Cervantes of CEMLA writes, “it is commonly thought that remittance flows (…) stem from a migratory process where men leave their country to seek better employment and income opportunities, and then send remittances to their wives and children back home.”

    Now comes the surprise — women not only contribute to half of the global remittances but also remit a larger share of their income than men! We, at InstaReM, are out to debunk some common theories about women and remittances.

    Since women remit smaller amounts more frequently, they end up paying 20% more transaction fees than men. InstaReM strives to empower women to #DoMore by offering cost-efficient and easy overseas money transfers. More power to you!

    About Instarem

    Instarem stands at the forefront of international money transfer services, facilitating fast and secure transactions for both individuals and businesses. Our platform offers competitive exchange rates for popular currency pairs like USD to INR, SGD to INR, and AUD to INR. If you're looking to send money to India or transfer funds to any of 60+ global destinations, Instarem makes it easy for you. We are dedicated to simplifying cross-border payments, providing cutting-edge technology that support individuals and businesses alike in overcoming traditional fiscal barriers normally associated with banks. As a trusted and regulated brand under the umbrella of the Fintech Unicorn Nium Pte. Ltd., and its international subsidiaries, Instarem is your go-to for reliable global financial exchanges. Learn more about Instarem.