Portuguese migrants in Europe send remittances to their home from a small number of sending countries. France has been the most important source country since the 1960s, and more recently, Germany, Switzerland, and the United States have also become significant source countries (Karafolas, 1998). According to figures from the Banco de Portugal, 42 per cent of remittances came from France, 18 per cent from Switzerland and 15 per cent from the United States. Transfers of remittances are primarily performed by Portuguese banks with their branches abroad. As Portuguese banks expanded operations to the countries of destination.
