As is well known, a large part of the remittances is channelled via the informal financial system through money transfer companies. So far, the access of migrants and their families to the formal financial system has been very limited due, in part, to the fact that a large proportion of the remittance senders are in an irregular situation in the developed countries. Cost and insecurity are usually pointed out as the main disadvantages to transferring remittances via the informal system. As far as cost is concerned, there are many different estimates: according to data collected.
