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Posted on:
May 5th, 2008
Filed Under: Blogante Business, Blogante News, Business, Wisconsin, Your Money
Tagged: Mexico, money transfer, remittance, remittances
Filed Under: Blogante Business, Blogante News, Business, Wisconsin, Your Money
Tagged: Mexico, money transfer, remittance, remittances
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For an immigrant community that isn’t always comfortable with traditional banks, these transactions — known as remittances — are more likely to be done in places like La Concha, or in tiny grocery stores, travel agencies, video shops and beauty salons tucked away in strip malls, with signs on the windows that advertise “Envios de dinero,” or money transfers.
La Concha owner Tomas Ballesta, whose money-wiring business is one of the largest in the state, said he processes about 150 of these transactions on an average day; on a busy day, there might be 250. He collects a fee per transaction, typically between $8 and $10 for transfers under $1,500. Part of that is his commission; the rest covers fees charged by the wire transfer company.
Customers also pay a currency exchange fee to the wiring company, typically about 2 percent. Those picking up the money on the other end are generally not charged any fees.”*
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Knowledge is Power and this page is just the start. Hispanics/Latinos are a growing diverse force in this country. Check out some of the 53,938 items found on this site below or dig into the Site Map
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- November 5, 2009
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- November 4, 2009
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- November 4, 2009
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- Immigrant Jail Tests U.S. View of Legal Access – City Bar Justice Center is calling for all immigrant detainees to be provided with counsel.
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- Did a resolution honoring Hispanic media trigger a silent boycott among the GOP?
