Travel-and-Leisure Remittances in general have slowed down in most countries as a result of the economy, but Latin America has not appeared to be hit as hard as many nations. In fact, 2007 saw an increase in money transfers of nearly 8 percent in El Salvador. From 1998 to 2008, the number of money transfers tripled. 2008’s number of remittances was equal to about 17 percent of the area’s gross domestic product, or GDP, showing that the country heavily relies on money transfers. However, the latest news on this subject reports that for the first time since about 1995, the number of remittances to this area fell in 2008. This is unfortunate news for its residents since its economy depends on remittances from other countries quite a bit, so much so that many people have stopped farming and started living off money transferred to them. In fact, nearly everyone in the country receives money from relatives overseas, making the ability to transfer money to El Salvador easily and cheaply very important. The reason for the recent reduction is clearly the economy, but you might wonder why the overall trend of sending money had increased up until recently. Much of the reason for the increase since the 1990s could be the improved technology. Traditional methods include using banks and agencies to transfer money to El Salvador, but now many people can do it on their own with few costs. For example, many cell phones now allow users to send money to their relatives’ phone in another country, either for free or a few dollars. A prepaid debit card is another method that is quite easy to use, and only usually costs $5 to add funds. Plenty of ATMs in nearly every country accepts the card, which means that your relatives could remove cash anytime. A prepaid debit card is especially useful in large cities like El Salvador’s San Salvador, La Libertad, and Santa Ana, since they typically have ATMs everywhere. If you need to transfer money to El Salvador soon, you will have to decide among the many choices available. Learning a bit about the country first is recommended of course, but knowing about the growth of remittances to the area can also be enlightening. Knowing the trends and preferences of both those sending money and receiving money can be helpful before you choose the method. Once you know a bit about the patterns of remittances, try to choose the cheapest, fastest method in order for you to transfer money to El Salvador. About the Author: 相关的主题文章: