Remittance Costs by the Numbers: What It Really Costs to Send Money Abroad
Across the 42 US-outbound corridors the World Bank surveyed in 2024 Q3, the average cost to send $200 abroad was 6.41% of the amount — ranging from 3.80% to Nigeria to 12.90% to Lebanon. The headline finding: every single corridor still costs more than the UN’s 3% target.
We catalogue the surveyed cost of sending money from the United States to every country in the World Bank Remittance Prices Worldwide survey. To make the dataset itself a useful reference, we measured how those costs are distributed — the cheapest and priciest corridors, how many clear (or miss) the global targets, how wide the gap is between providers inside the same corridor, and which provider turns up cheapest most often. Every figure below is computed directly from the survey data; nothing is estimated or hand-entered.
The cheapest and priciest corridors
Average total cost (fee + FX margin) to send $200 from the US, 2024 Q3 survey. “Cheapest firm” is the lowest-cost provider surveyed in that corridor — a dated survey result, not a recommendation.
Cheapest 8 corridors
| Destination | Avg cost | Cheapest firm | Priciest firm | Cheapest surveyed |
|---|---|---|---|---|
| Nigeria | 3.80% | -0.32% | 9.30% | MoneyGram |
| Honduras | 3.93% | 0.08% | 7.08% | Walmart2World |
| El Salvador | 4.29% | 0.00% | 9.00% | MoneyGram |
| Ecuador | 4.38% | 1.95% | 9.00% | Ria |
| India | 4.40% | -0.22% | 17.50% | Walmart2World |
| Peru | 4.54% | 2.00% | 10.40% | Jet Peru |
| Pakistan | 4.61% | -0.63% | 13.63% | Walmart2World |
| Ukraine | 4.67% | 1.11% | 11.72% | Remitly |
Priciest 8 corridors
| Destination | Avg cost | Cheapest firm | Priciest firm | Cheapest surveyed |
|---|---|---|---|---|
| Lebanon | 12.90% | 3.00% | 25.00% | MoneyGram |
| Cabo Verde | 10.93% | 0.32% | 22.50% | Walmart2World |
| Cuba | 10.56% | 5.50% | 15.41% | Western Union |
| Afghanistan | 10.16% | 6.89% | 12.50% | MoneyGram |
| Guyana | 9.32% | 3.16% | 13.62% | Walmart2World |
| Thailand | 8.63% | 0.62% | 25.00% | Walmart2World |
| Bangladesh | 8.15% | 5.07% | 11.96% | Walmart2World |
| China | 7.86% | 2.36% | 22.50% | Remitly |
Which provider is cheapest most often
How many of the 42 corridors each provider was the cheapest surveyed option in (2024 Q3). MoneyGram and Walmart2World tie for the lead, each cheapest in 13 corridors.
| Provider | Corridors where cheapest | Share |
|---|---|---|
| MoneyGram | 13 | 31% |
| Walmart2World | 13 | 31% |
| Western Union | 4 | 10% |
| Remitly | 3 | 7% |
| Ria | 3 | 7% |
| WorldRemit | 2 | 5% |
| Go Vianex | 1 | 2% |
| Vigo | 1 | 2% |
| Prabhu Money Transfer | 1 | 2% |
| Jet Peru | 1 | 2% |
“Cheapest surveyed” is a dated survey fact, not a live quote or an endorsement; the cheapest provider varies by corridor, amount, and quarter.
How far costs are from the global targets
The UN’s Sustainable Development Goal 10.c targets an average remittance cost below 3% by 2030. Here is how the surveyed corridors measure up against that target and against the 42-corridor average of 6.41%.
| Benchmark | Corridors above it | Share |
|---|---|---|
| UN SDG target (3%) | 42 of 42 | 100% |
| Global survey average (6.41%) | 17 of 42 | 40% |
What the data shows
No US corridor has hit the 3% target. All 42 surveyed corridors cost more than the UN’s 2030 goal — even the cheapest, Nigeria, sits at 3.80%. Costs cluster well above the target, with a median corridor cost of 5.94% and 17 corridors above the 6.41% average.
The provider you pick matters as much as the destination. Inside a single corridor the gap between the cheapest and most expensive surveyed provider averages 12.4 percentage points — and reaches 24.5 points for Dominican Republic. On a $200 transfer that spread is real money, which is why comparing providers within your corridor matters before you send.
A handful of large operators dominate the ‘cheapest’ column. MoneyGram and Walmart2World were the cheapest surveyed option in 13 corridors each — but no single provider is cheapest everywhere, so ‘cheapest’ is corridor-specific, not universal.
See the cost for your corridor
Every figure here rolls up from per-country pages. Pick your destination to see the surveyed median, the cheapest and priciest providers, and the full provider table.
Methodology
Figures are computed directly from the World Bank Remittance Prices Worldwide 2024 Q3 survey of 42 US-outbound corridors. Each corridor’s average, median, minimum and maximum total cost (transfer fee plus exchange-rate margin, as a percent of $200 sent) come straight from the survey; we then aggregate across corridors. The ‘cheapest firm’ per corridor and its frequency are the survey’s own results. The UN SDG 10.c benchmark is 3%. Surveyed prices are not live quotes and change quarterly; the cheapest provider in a quarter is a dated survey fact, not advice. See our methodology for the full survey basis.
Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org (CC BY 4.0). Figures are from the 2024 Q3 survey — surveyed prices, not live quotes.
Frequently asked questions
What is the average cost to send money from the US?
In the World Bank's 2024 Q3 survey, the average cost to send $200 from the US across 42 corridors was 6.41% of the amount (median 5.94%). The cheapest corridor was to Nigeria at 3.80% and the priciest was to Lebanon at 12.90%.
How many corridors meet the UN's 3% cost target?
None. All 42 surveyed US corridors cost more than the UN Sustainable Development Goal target of 3% by 2030 — even the cheapest sat above it. 17 corridors were also above the 42-corridor average of 6.41%.
Which money-transfer provider is cheapest?
It depends on the corridor. Across the 42 surveyed corridors, MoneyGram and Walmart2World were the cheapest surveyed option most often (13 corridors each), but no provider is cheapest everywhere. Inside a corridor the cheapest-to-priciest gap averages 12.4 percentage points, so it pays to compare providers for your specific destination.