Migrants’ Remittances from the United Kingdom : International Remittances and Access to Financial Services for Migrants in London, UK, A Greenback 2.0 Report
This report will share key findings from the research, starting with an overview in section two of the international remittance context and the UK remittance market. It also provides a view on trends in the UK market, particularly in the wake of si...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/09/25068036/migrants’-remittances-united-kingdom-international-remittances-access-financial-services-migrants-london-uk-greenback-20-report http://hdl.handle.net/10986/22772 |
| Summary: | This report will share key findings from
the research, starting with an overview in section two of
the international remittance context and the UK remittance
market. It also provides a view on trends in the UK market,
particularly in the wake of significant bank de-risking,
leading many remittance service providers (RSPs) to seek out
alternative banking solutions. Section three outlines the
objectives of the research, the survey design and the
sampling techniques for the fieldwork. This is followed by
Section 4, which presents the empirical findings of the 602
interviews collected. It begins with demographic and
economic characteristics of the participants before focusing
on migrants’ attitudes and behaviors regarding remittance
sending, using financial services, and savings and
investment. Given the current environment for remittance
service providers in the UK (and in several other countries)
and the global commitment to reducing remittance costs,
there is a focus on the service providers used and the costs
incurred. Finally, the report concludes with a summary of
the main findings and provides recommendations on addressing
the barriers and issues faced by migrants in London
regarding financial and remittance services, as well as
potential areas of further inquiry. |
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