Growth in the money transfer business is more than just a numbers game—it’s about building stronger connections and empowering communities.
Much like Conversion Rate Optimization (CRO) enhances user experience and business results, in our industry we focus on refining every interaction to ensure that sending money worldwide is both easy and secure for customers. So, how do we maximize our CRO efforts to turn users into loyal customers? How can a marketing technology stack boost our CRO and why should it be an integral part of a business strategy?
In this post, we will cover CRO, its importance to businesses and how a robust marketing technology stack can amplify CRO efforts. We’ll also discuss the integration of payback period with CRO and the marketing technology to maximize return on investment (ROI), enhancing user experiences and driving business growth.
Conversion Rate Optimization: What it is and why it is essential for users and businesses
Conversion Rate Optimization focuses on optimizing each touchpoint of the user journey, which is the interaction a customer has with a business. These touchpoints happen at different stages as the customer moves from discovering the brand to making a purchase or completing another action.
For example, in a money transfer service, touchpoints might include seeing an ad, visiting the website to check rates, completing the payment or receiving follow-up emails or messages.
Each time the customer interacts with the business, that’s atouchpoint. By improving these moments, we make it more likely that the customer will complete the desired action.
Understanding users’ behaviors and removing potential obstacles is key if we want to boost what we call conversion rate. This is the percentage of users that complete a desired action, such as logging in or making a transfer. A higher conversion rate means users are being guided more efficiently toward the business goal, making it crucial for both businesses and customers.
Enhancing the customer’s journey and experience
Ensuring that every money transfer is smooth and hassle-free is paramount for us at Ria. By refining the touchpoints, we can increase user satisfaction and reduce friction, making transactions more efficient and enjoyable.
In essence, we use CRO to help identify pain points and quickly resolve issues that might cause users to abandon their transfers. .
By continuously testing and optimizing, any inconsistencies or issues can be addressed, which helps us provide a more reliable experience and boost confidence among users. There are many moving parts when it comes to improving the customer journey, from analyzing performance and identifying low-conversion assets to optimizing resource allocation by improving conversion rates. At the same time, you can’t lose sight of user experience, which involves researching customers, learning what they want and how they interact with your business, and optimizing content for conversions to make sure the business is communicating effectively with its audience.
Benefits of Using CRO for businesses
As CRO directly influences key business outcomes such as revenue growth, customer retention and operational efficiency, it is crucial to set up and align conversion goals with business objectives.
By optimizing the user experience and removing barriers to completing transfers, CRO increases the likelihood that users will complete their transactions, leading to higher transaction volumes and increased revenue.
Moreover, a smooth and satisfying user experience encourages repeat business by developing stronger customer relationships with higher retention rates and long-term revenue growth.
In order to do that, we have to use CRO to gain valuable insights into how users interact with the service. This allows for targeted strategies and customizable user experiences with tailored services and communications.
CRO also allows us to stay agile and adapt to the constantly changing market conditions and customer needs. Ensuring that products and services remain relevant and responsive will lead to higher customer retention, which is vital for long-term success.
How martech stacks boost CRO efforts
A marketing technology (martech) stack is a collection of tools and technologies that create a powerful ecosystem that supports your marketing activities, including CRO.
Martech can provide advanced analytics and insights through tools like Google Analytics and ContentSquare, offering deep data on user behavior. These tools help track key metrics, such as session duration and abandonment rate, while identifying where users drop off. With this information, you can implement targeted changes to improve conversion rates and make more informed decisions on where improvements are needed.
Personalization and segmentation can also be achieved with martech stacks through the enabling of unique user experiences built on targeted messaging. This way, companies can deliver customized content to specific user segments, increasing engagement and conversions.
When it comes to experimentation, platforms like Optimizely and VWO can facilitate A/B testing, which allows us to experiment with various elements of an app or website. Continuous experimentation helps identify the most effective strategies for improving conversion rates.
Marketing automation enables us to bypass repetitive tasks and nurture customers with tools like Braze, which can set up automated inbox sequences to follow up with users who abandoned a relevant action, encouraging them to complete it. Automation ensures that no potential customer is left behind and that every opportunity to convert is maximized.
Finally, integration with Customer Relationship Management (CRM) systems make customized follow-ups a possibility. CRM data can be used to tailor CRO efforts based on customer behavior and preferences, helping to maintain a comprehensive understanding of customer interactions, enabling more personalized and effective marketing efforts.
Integrating Payback Period with CRO and Marketing Technology for Enhanced Business Growth
Understanding and Improving the Payback Period
The payback period shows businesses how long it will take to recover the money they spent on improvements. A shorter payback period means the business can start seeing profits sooner, helping it grow faster.
Businesses use insights from CRO and marketing technology to calculate how long it will take to recover their investment. For example, if a business spends $50,000 on improving conversion rates and marketing, and this results in an extra $10,000 in monthly revenue, it would take five months to break even. This helps the business understand when it will start making a profit.
Implementing high-impact strategies identified through CRO and marketing technology can significantly speed up revenue growth and accelerate ROI. For instance, if specific strategies lead to a higher increase in conversions and sales, the payback period might shorten, allowing the business to see returns sooner.
Enhancing Customer Acquisition Cost (CAC)
Customer Acquisition Cost (CAC) is the amount of money a business spends to acquire a new customer. This includes costs for marketing, advertising, and sales efforts. In essence, it’s how much a business pays to convince someone to start using the product.
CACcan also be lowered through improved efficiency. CRO efforts that enhance the conversion process help reduce the cost associated with acquiring new customers. For example, by optimizing the user journey and increasing conversion rates, companies can attract and convert customers more effectively.
By analyzing customer data and campaign performance, marketing strategies can be refined to target the most cost-effective channels and audiences, increasing productivity. This targeted approach also reduces CAC and improves overall profitability.
Increasing Customer Lifetime Value (CLTV)
Boosting Customer Lifetime Value (CLTV) with Personalized Engagement: can lead to enhanced customer experiences and to higher satisfaction and retention, all driven by CRO insights and data. For example, personalized offers and targeted communications increase customer loyalty and repeat business, which is likely to increase the CLTV.
Meanwhile, an effective use of marketing insights allows companies to provide exceptional service and support, strengthening customer relationships. This improved customer experience contributes to longer relationships and possibly greater CLTV, as satisfied customers are more likely to remain engaged and make repeat transfers.
Throughout this post, we’ve explored Conversion Rate Optimization (CRO) at length and learned the vital role it plays in competitive markets such as ours. For us at Ria, user-friendly resources, security and efficiency are key to a long-lasting relationship with our customers.
Enhancing the user journey, building trust, and maximizing operational efficiency by improving automation, personalized experiences and targeted approaches are key to any CRO strategy.
By integrating marketing technology stacks and understanding how the payback period plays a relevant role in the day-to-day operation, CRM specialists can help organizations refine the effectiveness of their investments and accelerate growth.
Across the globe, small businesses play an essential role in spurring economic activity, often offering consumers vital services in their local vicinities. Be they newsagents, grocery stores or internet cafes, these enterprises also shape our communities by employing local residents and establishing a deep connection with their customer base.
This close proximity with the public provides small businesses with some key advantages. As the owner, you have the creative freedom to innovate and adapt your offering to better meet your customers’ needs and enhance your earnings.
With that in mind, let’s explore some curious ideas that could boost your income, while at the same time, allowing you to keep your core focus on your small business.
1. Rent out unused space
One of the biggest advantages of being a small business owner is the fact you have your own entity and are likely able to manage your retail space. If you have any unused storage space, vehicles or parking slots, consider renting them to other businesses in the area. Even if you use every inch of your premises, purchasing and then renting storage units can also translate into a steady stream of passive income. Unlike other real estate, these units have low operational costs and require very little maintenance. Before taking this step, be sure to analyze the local area. Typically, neighborhoods with a high apartment ratio tend to have a much higher demand for storage units.
2. Become a money transfer agent
With more people living outside their native countries than ever before, the need to send funds and support families and communities from abroad is steadily growing. In this sense, becoming a money transfer agent would not only boost your income but also provide a valuable service to migrants in your local area.
Becoming an authorized agent doesn’t require financial investment or lots of preparation. At Ria, we provide first-class training to ensure that all our agents are fully equipped to perform international transactions as well as offering continued support, including multilingual assistance. Additionally, Ria will actively promote and advertise the service on your behalf, helping you attract more customers.
Once you’ve established yourself as a money transfer agent, we recommend you use our custom-built Monthly Earnings spreadsheet to keep track of not only your commission fees but also your expenses and other sources of income.
3. Invest in laundromats and vending machines
Another popular source of passive income is placing laundromats in your store. Given the fact we always need clean clothes, these self-service facilities can provide you with year-round income. Better still, washing garments is not a quick process. While waiting, customers have time to browse and potentially purchase other products in your store. For this reason, contemplate adding vending machines to offer these consumers coffee as well as other snacks.
4. Become a drop-shipping point
Alternatively, if you have no excess space to utilize, you could develop a dropshipping business. Importantly, dropshipping doesn’t involve keeping any products at your business location. Instead, the role of the small business owner is to highlight products, either online or in their store, and then place orders with the supplier depending on demand. Upon receiving an order, the supplier will then ship the product directly to the customer.
This process, in effect, removes many of the challenges that typically come with running a small commercial enterprise, allowing you to expand your product range without large-scale investment. If you have a strong relationship with your customers and a good understanding of their needs, then dropshipping could become a reliable source of passive income.
However, before setting up, be sure to choose your suppliers carefully. As the seller, you will need to provide ongoing customer support, including organizing any refunds or product returns as well as resolving any supply chain issues directly with the wholesaler.
5. Take on side projects
With millions of companies adopting digital platforms during the Covid-19 pandemic, there is currently a huge global demand for skilled freelance workers. While strictly speaking not a passive source of income, freelance projects can help you harness your creative skills and earn additional funds, particularly during known quiet periods with low customer footfall.
Platforms like Freelancer and Upwork are full of creative writing, graphic design, web development and video editing tasks for freelancers to take on. Alternatively, consider longer-term side hustles that you could later convert into passive income. For instance, if you’re knowledgeable about a particular subject or have some amazing stories to share, consider producing an e-book for avid readers. Growing in popularity, e-books are relatively inexpensive to publish and the royalties you receive from sales could provide you with passive income for many years to come.
6. Sell products online
Sales shouldn’t be limited to those made in your store. Increasingly, consumers are buying more and more online with the eCommerce industry expected to be worth $9.3 trillion by 2027. Having your own online presence will enable you to highlight your existing products, including any leftover stock, to a much wider audience.
Equally, having a digital footprint would also help you set up a print-on-demand store. Typically, these online stores contain unique designs that can be placed on plain t-shirts, posters, cups and backpacks among other items. Similarly to dropshipping, this model allows you to offer customized products without the need for large amounts of capital or considerable storage space. Customers simply purchase a product on your website, automatically placing an order with your supplier, who will then add your design to the desired plain item and deliver the product directly to the customer.
7. Engage with the digital community
When introducing new sources of income, one of the biggest challenges small business owners face is maximizing the potential revenue, while at the same time, continuing to deal with the natural ebb and flow of customers visiting their store. In this sense, it is helpful to have paid online activities that you can pause at a moment’s notice. For instance, completing online surveys can provide you with a little extra money every day without heavily disrupting your core activities. InboxDollars and SurveySavvy are just a few examples of websites that offer payment for completed surveys.
Bonus tip: Put your money to work
Given money tends to lose value over time, consider investing any spare capital into either stocks, bonds or mutual funds. In essence, investing can boost your income in two ways. For instance, some investments offer dividends, regular payments made to the investor based on the performance of the asset. However, most investments simply appreciate as time progresses, helping you accumulate long-term wealth. For example, a standard $100 investment in corporate stocks in 1970 would have surpassed $22,000 in 2023.
At Ria, we understand the importance and impact small businesses have on our local economies. Their success helps our customers’ communities thrive, resulting in greater purchasing power, healthier households and better educational opportunities for children. By diversifying your small business and becoming a money transfer agent, you can help facilitate the flow of crucial funds from migrants to their loved ones back home.
Interested in becoming an authorized Ria agent? Visit our website to learn more about the great benefits of working with us and the steps to follow.
Remittances play a vital role for poverty-struck communities, especially when it comes to countries like Haiti. The Caribbean nation depends on remittances sent from abroad, particularly from the United States where the Haitian diaspora is considered the 15th largest foreign-born population.
Today, three-fifths of Haitians live on less than $2 a day. Following a long history of socioeconomic problems and decline, the devastating 2010 earthquake pushed the country to its limit. With no government system to fall back on and grave societal issues such as food insecurity, Haiti depends on the funds received from abroad. But these same remittances could help rebuild and restore Haiti to what it used to be.
Haiti’s and its Economy Today
Prior to the French colonial era, the island of Hispaniola was inhabited primarily by the Taínos. The population was organized into chiefdoms, with Marién and Jaragua occupying present-day Haiti.
Each chief was in charge of distributing work amongst their communities to ensure there would be enough food and resources to go around. For the most part, women were in charge of agricultural and domestic tasks, including artistic endeavors, while men would take care of planting, hunting, fishing, and carving. Even children played an active role, scaring away birds from the plantations.
Under subsequent French rule, Haiti, then known as Saint-Domingue, became one of the wealthiest and most profitable colonies in the world, though the indigenous and slave populations were not benefitting from this economic growth.
By 1804, Haiti became the first nation to have gained its independence through a slave revolt, the first freed colony in Latin American, and the first to abolish slavery. Unfortunately, it was this same great feat that cemented the nation’s economic decline.
There were several crucial factors at play: the destruction of capital and infrastructure, the lack of diplomatic and trade relations with other nations, the scarcity of foreign and domestic investment, the transitions towards subsistence farming to escape plantation agriculture, and reparation payments made to France.
The last factor was a particularly brutal and damming one. In order for the French Empire to formally recognize their independence, Haiti was forced to pay a sum of 150 million francs – or the equivalent of $21 billion in today’s money, which practically matches the country’s 2021 Gross Domestic Product (GDP).
The Impact of the Haitian Diaspora
Fast-forward to today, Haiti is the poorest nation in the Western hemisphere, and its unlucky geographic location hasn’t helped.
As such, there has been a massive increase in migrants leaving the country over the years. Some 1.75 million Haitians had left the island by 2021, according to data from Knomad.
But there is hope for Haiti, and much faith can be applied to the ever-growing diaspora population. There’s an estimated 70% of skilled labor immigrants currently living outside the country, eager to get back home and build up their homeland.
Moreover, the Haitian diaspora, particularly in the US, has made big gains towards achieving better education, with some 13% of them obtaining a Bachelor’s degree- a far cry from the 4.53% in Haiti. This type of education can better prepare them to help in Haiti’s development.
All in all, the Haitian work ethic and belief in the equalizing force of education remains the diaspora community’s major asset.
Currently, the best contributions these overseas Haitians make to their economy is through remittances. The country relies heavily on them, and they make up to 24% of the country’s GDP. Some $3.8 billion worth of remittances were sent in 2023. For that reason, it’s also important to foster a climate of financial inclusion that will help Haitians take better advantage of the money they have and kick-start their future.
Fostering Financial Literacy and Inclusion
Being educated in financial literacy is crucial for financial inclusion, which continues to be a big challenge for Haiti going forward. Even those who own some type of bank account or mobile wallet still lack basic financial skills.
That education and skills deficit then impedes them from accessing the most basic of financial services, with a mere 32.6% of Haitians owning an account, according to data by World Bank.
In Haiti, only 1.27% of the GDP is spent on education, which is over 3 points lower than the global average, which sits at 4.4%. This lack of government funding directly impacts the population’s financial literacy levels and means that much of the education-related infrastructure, such as schools, aren’t prioritized to be repaired or rebuilt.
In fact, more than a thousand of the affected schools are yet to be rebuilt after another devastating earthquake in 2021.
Adding to this lack of schooling infrastructure, another aggravating factor is the poor literacy rate in the country, with just 61.7% of the population being able to read. If people can’t read, they’ll struggle to receive any type of education.
Another report concluded that the reason many people in Haiti don’t have a financial account is because they simply can’t afford one (34%) or that it’s too expensive (15%), so education isn’t the only factor at play.
Despite these relatively low figures, the number of Haitians with accounts is on the rise, to the point where they are nowon a par with other low-income countries. Though it’s still not an overly positive fact, it bodes well for the country going forward.
Empowering Hope through Remittances
Though Haiti is taking huge strides to improve their future, the country’s situation is still a difficult one. However, if there’s one thing that history has taught us is that they have proven to overcome fierce obstacles.
And now, with the money received through remittances, Haitians have a whole host of options regarding where they can best put their money to use, according to their needs and what they want.
Once Haitians achieve greater financial inclusion – be it through the opening of bank accounts or the acquisition of different financial products such as credit or loans – the money can be put towards developing local infrastructure, towards education to raise the ceiling for Haiti’s youngest or towards healthcare, all in a bid to reduce dependence on foreign aid, which totalled some $13 billion between 2011 and 2021.
By consciously channelling their funds, they can invest strategically to secure their future, improve the overall economy of their country, massively increase their immediate living conditions and also develop sustainable economic growth overall.
This puts Haiti at a bit of a crossroads. While the remittances Haitians receive can and should be put towards improving everyday life and the future of the country as a whole, a broken system plays against them.
In the meantime, steps should be taken to continue improving financial literacy. With better access to banks, Haitians will be more empowered and will achieve greater economic stability, helping to build a better future and drag themselves out of the complicated situation they’re currently in.
At Ria, we’re celebrating our one-year anniversary as Inter’s Official Money Transfer Partner. To do so, we set out to create a powerful spot highlighting the best qualities we share with one another.
“Never Far Away” tells the story of found family and how important it is to stay connected to our loved ones, even when you’re far away. The tale is a simple yet universal one. It showcases the power football and money transfers have to bring people together no matter the distance.
The video follows Anuar, María, Moussa and Irina, four migrants from vastly diverse backgrounds but who are connected by a common goal: helping the people they care for the most.
We follow Moussa, a care worker who always makes time to speak with his family despite his exhaustion from working all day. No matter how tired he may be, he makes sure his love and devotion are felt by his family.
María works as a seamstress so she can provide for her mom back home. Food always brought her family together, so she makes sure to pour into her work the same love her mom put into her recipes.
For Irina, a customer service rep at Ria, knowing her brother is alright is all that matters. Working hard to provide for him is all the motivation she needs to patiently wait for the day she can hug him again.
While striving for a better everyday life for themselves and their families, the four friends come together to enjoy an Inter match – a shared passion they’ve found in their new homes.
While these are just the tales of four people, there are thousands more like them. At Ria, we’re proud to amplify these migrant stories alongside Inter, and we look forward to another year of impactful collaboration and celebration.
Since 2012, Ria has been collaborating with the TeletónUSA foundation to help children with a range of disabilities, including neurological disorders, muscular deficiencies, and osteopetrosis. The non-profit organization offers rehabilitation services to improve the children’s quality of life. Recently, we were honored to receive a visit from TeletónUSA beneficiary Isaac and his mother Alejandra in our offices in Buena Park, California.
Isaac’s condition, treatment options and Alejandra’s fight for healthcare access
From the moment Isaac first opened his eyes sixteen years ago, his mom has been by his side. Isaac means the one who rejoices, and despite the challenges of being born with brain damage, Alejandra has made sure to do right by her son’s name. Though it’s not impossible to receive therapy for this type of disability, treatment is usually halted if the patient’s condition doesn’t improve. Against all odds, Alejandra has continued to fight for her son’s healthcare access, not in search of a cure, but simply for moments of relaxation or respite from her son’s pain.
A renewed hope: TeletónUSA transmission and an innovative treatment
One December evening, Alejandra happened upon a TeletónUSA transmission while watching TV. She was fascinated by what they were showing, an innovative treatment called hydrotherapy. She wished there was a center close by that could offer this type of service, and, within a couple of months, her prayers were answered. She received a call from a friend whose daughter also has special needs. “She told me she was in touch with Teletón Mexico and could send them over to my house as well. Two months later, they were interviewing us and taking note of Isaac’s specific needs,” shared Alejandra.
This was great news. Isaac was soon enrolled in the Centro de Rehabilitación e Inclusión Infantil (CRIT) La Paz, a TeletónUSA rehabilitation center located in Baja California. “Hydrotherapy is the most enriching because it lessens muscle aches. In my case, I had never seen my son relax until he was floating in the water,” recalled Alejandra. Isaac also received physical therapy and his first Botox injection at CRIT La Paz, which helped relax the muscles in his back. “They are constantly fighting their own bodies because spasticity hurts,” she explained.
The Centro de Rehabilitación e Inclusión Infantil (CRIT) La Paz: how CEMS therapy can help
The CRIT La Paz also offers CEMS therapy, which stands for Cuarto de Estimulación Multisensorial or Multisensorial Stimulation Room. The room is filled moving lights and other stimulants meant to help children with disabilities develop their five senses. “It’s a blessing, being able to move a finger. We’re millionaires. We can see, we can hear, we can swallow, we can touch… With them, we need to help them touch, smell, and even work on their hearing to help them develop it,” said Alejandra.
Before the stimulation room, doctors had assumed Isaac was blind. Yet, Isaac was mesmerized by the lights, following their movements with his eyes and even lifting his head for the first time. As of now, Isaac is considered to be legally blind, though the full extent of his ability to see is still unknown.
Knowledge gained and continued therapy
“For me as a mom, the greatest feeling is seeing your child react to something and to know that you can take away their pain. The knowledge you gain from the specialists, doctors, and therapists in these centers is something you get to take home. I’m no longer at the CRIT, but I continue to give him the therapy I learned,” said Alejandra.
We were deeply moved by the family’s visit, which inspired us to continue striving to break new fundraising records for the next TeletónUSA later this year. “I prayed and cried to find angels like you. People who lend a hand and who care about your son’s life. When we’re sick, we want people to be there for us. Sometimes our whole world closes up and we think no one’s there, but there are angels, and what you do with love and excellence is priceless.”
The cost of living in the U.S. varies significantly based on location, lifestyle choices, and economic conditions. This guide aims to provide a comprehensive overview of the cost of living in major regions and cities in 2024.
We’ll look at major cities in the West, analyzing the following factors:
Housing
Transportation
Healthcare
Taxes
Note that, in general, living in rural areas in the U.S. can be cheaper than living in urban areas because of lower land prices, and reduced expenses for groceries, transportation, and utilities. While rural living may be cheaper in some respects, it may also come with trade-offs such as limited job opportunities, fewer amenities, and longer travel times for certain services or activities.
Cost of Living in Chicago
Chicago is renowned for its iconic skyline dominated by architectural marvels like the Willis Tower and John Hancock Center, its vibrant cultural scene with world-class museums such as the Art Institute of Chicago, and its deep-rooted history in jazz, blues, and theater. The city also boasts legendary teams like the Bulls, Bears, Cubs, and Blackhawks. So, what’s the cost of living in the U.S. in Chicago?
Housing
Average Rent Cost: The average rent for a one-bedroom apartment in Chicago is around $1,400 per month, with variations based on neighborhood desirability and property features.
Luxury Rentals: High-end luxury apartments and condos in prime neighborhoods like the Gold Coast, Lincoln Park, and River North can command significantly higher rents, often exceeding $3,000 per month for one-bedroom units.
Median Home Prices: The median sale price for homes in Chicago is close to $360,000.
Transportation
Chicago has an extensive public transit system operated by the Chicago Transit Authority (CTA), including buses and the ‘L’ train system. The L train costs $2.50 per ride, and a bus ticket is only $2.25.
Wheel Tax: This is a municipal vehicle registration fee to provide the City with a source of funds to be used for transportation purposes. According to the Office of the City Clerk, all Chicago residents driving, parking, leasing, or owning a vehicle are subject to this tax. Costs vary from $90.88 to $144.33, depending on the size of your vehicle.
Illinois has a flat income tax rate for individuals and corporations. Chicago residents also pay local taxes, including sales tax on purchases and property taxes. According to AARP, these are the current rates for main taxes in Chicago:
Income tax: 4.95 percent
Property tax: 2.08 percent of a home’s assessed value (average)
Sales tax: 10.25 percent
Cost of Living in Seattle
Seattle is synonymous with innovation and technology, being the birthplace of tech giants like Microsoft, Amazon, and Boeing. With a strong emphasis on sustainability, outdoor activities such as hiking, kayaking, and exploring nearby national parks like Mount Rainier and Olympic National Park are integral parts of Seattle’s identity. So, what’s the cost of living in the U.S. in Seattle?
Housing
Seattle is known for its booming tech industry, leading to higher housing costs, especially in desirable neighborhoods and downtown areas.
Average Rent Cost: The average rent for a one-bedroom apartment in Seattle is $2,267.
Median Home Prices: The median sale price for homes in Seattle is close to $850,000.
Transportation
The Seattle Streetcar is an integral part of the overall transit and mobility network for Seattle. A single ride costs $2.25.
Congestion Pricing Tax: Seattle is planning to implement a strategy to address congestion and transportation emissions through pricing. It involves pricing city streets to encourage alternatives to single-occupant vehicle trips and to improve travel reliability, reduce travel times, and improve safety. Charges may range from $1 to $20 at certain times of day, with various caps, discounts, and exemptions.
Healthcare
The average cost of health insurance in Chicago is $503 per month for a 40-year-old. Rates will vary based on age, lifestyle, location, etc.
Washington does not have a state income tax on wages. This means there is no personal income tax in Washington. According to AARP, these are the current rates for main taxes in Seattle:
Property tax: 0.98 percent of a home’s assessed value (average)
Sales tax: 9.38 percent
Cost of Living in Portland
Portland is renowned for its eclectic and progressive culture, often described as quirky and artistic. Portland is also known for its commitment to sustainability, with extensive bike lanes, eco-friendly initiatives, and a strong emphasis on environmental consciousness. Portland’s beautiful natural surroundings, including nearby forests, rivers, and the iconic Columbia River Gorge, provide ample opportunities for outdoor activities such as hiking, biking, and exploring the great outdoors. So, what’s the cost of living in the U.S. in Portland?
Housing
Portland offers a unique lifestyle with a focus on sustainability and eco-friendly living, although housing costs have risen in recent years.
Average Rent Cost: The average rent for a one-bedroom apartment in Portland is $1,728.
Median Home Prices: The median sale price for homes in Portland is around $530,000.
Transportation
Portland has a comprehensive public transit system operated by TriMet, including buses, MAX light rail, and streetcars, promoting alternative modes of transportation. Fare rates are as follows:
TriMet bus and MAX Light Rail fares are $2.80 to ride for 2.5 hours; $5.60 for a day pass
For the Portland Streetcar: $2.50 to ride for 2.5 hours; $5 for a day pass.
The city is bike-friendly with bike lanes, paths, and bike-sharing programs, contributing to a culture of cycling.
Portland has a bike-share program known as Biketown since 2016, with 1,000 bright orange, eight-speed bicycles. After paying a one-time $5 sign-up fee, you’ll be charged 8 cents per minute ($2.40 for 30 minutes of use). You can use up to four bikes per account.
You can also rent an electric scooter. Powered by an electric motor and maxing out at 15 miles per hour, these e-scooters are another energy-efficient alternative to driving a car.
Healthcare
The average cost of health insurance in Portland is $578 per month for a 40-year-old. Rates will vary based on age, lifestyle, location, etc.
The average cost of a doctor’s visit ranks between $93 – $143.
Taxes
Oregon has a progressive income tax system. Portland residents also pay state and local taxes, including property taxes and sales tax on purchases. According to the Tax Foundation, these are the current rates for main taxes in Portland:
Income tax: Oregon has a graduated individual income tax, with rates ranging from 4.75 percent to 9.90 percent.
Property tax: 2.24 percent of a home’s assessed value (average)
Sales tax: Oregon does not have a state sales tax and does not levy local sales taxes.
Cost of Living in Los Angeles
Los Angeles is known for its glamorous entertainment industry, with Hollywood at its epicenter, making it a global hub for film, television, and music. With a Mediterranean climate and miles of stunning beaches like Santa Monica and Venice, outdoor activities such as surfing, hiking in the nearby hills, and enjoying beachfront attractions are integral parts of the LA lifestyle. The city’s dynamic arts scene, museums like the Getty Center, and diverse neighborhoods further contribute to its status as a cultural and entertainment capital. So, what’s the cost of living in the U.S. in Los Angeles?
Housing
Average Rent Cost: The average rent for a one-bedroom apartment in Los Angeles is $2,719.
Median Home Prices: The median sale price for homes in Los Angeles is around 1.2 million.
Housing costs in popular areas like Santa Monica, Beverly Hills, and Downtown LA are typically higher.
Transportation
Los Angeles is known for heavy traffic congestion and long commute times.
However, the city has one of the country’s most extensive public transportation networks, including subways, light rail, buses and shuttles that service every corner of the Greater Los Angeles area.
A regular Metro ride is $1.75. Fares for a one-way trip on Metro includes 2 hours of free transfers.
Healthcare
The average cost of health insurance in Los Angeles is $600 per month for a 40-year-old. Rates will vary based on age, lifestyle, location, etc.
California has a progressive income tax system with higher rates for higher incomes. Los Angeles residents also pay local taxes, including sales tax and property taxes. According to AARP, these are the current rates for main taxes in Los Angeles:
Income tax: 1 percent to 12.3 percent (California has nine tax brackets, ranging from 1 percent to 12.3 percent. Those who make over $1 million also pay an additional 1 percent income tax).
Property tax: 0.75 percent of a home’s assessed value (average)
Sales tax: 8.85 percent
Cost of Living in Phoenix
Phoenix is known for its desert climate, stunning natural landscapes, and outdoor recreational opportunities. The city’s cultural scene includes museums like the Heard Museum, showcasing Native American art and history, and the Phoenix Art Museum. With a growing culinary scene, diverse neighborhoods, and major sports teams like the Phoenix Suns (NBA) and Arizona Cardinals (NFL), Phoenix offers a blend of outdoor adventure, cultural exploration, and urban amenities So, what’s the cost of living in the U.S. in Phoenix?
Housing
Phoenix offers a relatively affordable cost of living compared to other major cities.
Average Rent Cost: The average rent for a one-bedroom apartment in Phoenix is $1,534.
Median Home Prices: The median sale price for homes in Phoenix is $525,000.
Transportation
According to the Bureau of Labor Statistics, it costs more to get around in Phoenix – a city that was designed for cars – than in any other U.S. metro. Phoenix households spend an average of $12,776 per year on transportation, whether by private car or public transportation.
Phoenix has a network of highways and roads, and the Valley Metro system provides public transit services including buses and light rail (Valley Metro Rail).
The one-way cost is $2.00 for local bus and an All-Day pass is $4.00. The one-way cost is $3.25 for RAPID and Express buses and $6.50 for an All-Day pass.
Healthcare
The average cost of health insurance in Phoenix is $517 per month for a 40-year-old. Rates will vary based on age, lifestyle, location, etc.
With notably low taxes on working and retirement income, and no estate or inheritance tax, Arizona is one of the more tax-friendly states for older workers and retirees. According to AARP, these are the current rates for main taxes in Phoenix:
Income tax: 2.5 percent
Property tax: 0.63 percent of a home’s assessed value (average)
Sales tax: 8.37 percent
Cost of Living in Denver
Denver is renowned for its scenic beauty, outdoor recreational opportunities, and vibrant cultural scene. Situated near the Rocky Mountains, Denver attracts outdoor enthusiasts with easy access to hiking, skiing, and camping in nearby mountain areas. Denver’s cultural offerings include the Denver Art Museum, Denver Center for the Performing Arts, and a rich music scene spanning genres from indie and folk to jazz and blues. Additionally, Denver is a hub for technology, startups, and entrepreneurship, contributing to its dynamic economy and diverse community. So, what’s the cost of living in the U.S. in Denver?
Housing
Denver’s housing market has seen significant growth and demand in recent years, leading to rising housing costs, especially in popular neighborhoods and downtown areas.
Average Rent Cost: The average rent for a one-bedroom apartment in Denver is $1,979.
Median Home Prices: The median sale price for homes in Denver is $600,000.
Transportation
Denver has an extensive public transit system operated by RTD (Regional Transportation District), including buses, light rail (RTD Rail), and commuter rail services.
In 2023, the RTD approved a new fare plan that lowered the cost of a ticket for most riders. RTD said “simpler, more affordable fares” will replace the current ticking system of fare zones. The Denver Post provides a useful graphic:
Healthcare
The average cost of health insurance in Denver is $535 per month for a 40-year-old. Rates will vary based on age, lifestyle, location, etc.
Colorado has a flat income tax rate for individuals. The state has no estate or inheritance tax, relatively low property taxes and one of the lowest state sales taxes in the country; however, some municipalities levy a local sales tax. According to AARP, these are the current rates for main taxes in Denver:
Income tax: 4.4 percent. Denver also collects local income taxes. The tax is paid by people working in those cities, regardless of where they live.
Property tax: 0.55 percent of a home’s assessed value (average)
Sales tax: 7.81 percent
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Australia, the fabled land Down Under. The place you visit and end up leaving with more questions than answers thanks to its vastly different flora and fauna and stunning, otherworldly landscape.
But today, we’re here to talk about its people and the bespoke language and culture they’ve nurtured, which makes this huge country such a unique place for anyone to live in and emigrate to.
Australian Culture and Immigration: Perspectives from Migrants and Foreigners
Language and culture barriers are often the biggest hurdles a person will face when starting a brand-new life in an unfamiliar country. Despite the challenges most of them have to overcome, they still make the effort to take part in shaping a country’s identity with their own perspectives.
The case is especially true for those making the move to Australia thanks to their migration system. In recent decades it’s hard to not associate the country with immigration, and according to the Australian Bureau of Statistics over a quarter of the country’s population was born overseas.
Data collected by Australia’s Department of Home Affairs showed that aside from the United Kingdom or China, citizens from India, the Philippines, Vietnam or Nepal also make up a large chunk of the migrant population. It’s a testament to the diversity of people that can be found there.
The variety of ingredients in this particular melting pot have led to a clear cultural exchange taking place in Australia. Even though immigrants still maintain heavy links to their home nations, that hasn’t stopped them from adapting to the local lingo.
Decoding Aussie Slang: Insights and Misconceptions
Australian slang culture takes the crown for the most diverse in the English-speaking world. For starters, Aussie English speakers use the highest number of diminutives in the English language – over 5,000 of them!
The sheer variety in ways to say different words will be overwhelming for a newly arrived migrant, so getting up to speed is a challenge.
However, with time people will eventually learn the ropes around the tricky Aussie slang. According to a study by Ria, over 90% of expats who have lived in Australia for over 10 years know an average of 5-6 slang words.
The same study discovered that people who settle down in the state of Queensland picked up Aussie slang more effectively, while those hailing from the African continent assimilated the words quicker than their Asian and South American counterparts.
But Aussie slang is no easy thing to wrap your head around. In fact, many of the turns of phrase often lead to misconceptions about what is being said. There are several well-used sayings that mean something unrelated to the original phrase.
For example, if someone has “kangaroos loose in the top paddock”, it doesn’t mean that person has free-roaming kangaroos in their back garden– it refers to that person having strange or crazy ideas.
It only adds another layer of difficulty for people trying to learn the language and its nuances.
Australia’s Remittances
But despite all these cultural surprises, more recent migrants in Australia have mentioned how cost of living has been a greater shock to them than the slang and the language itself.
According to the Ria study, two thirds of respondents cite the cost of living crisis as having impacted their ability to send money back home. This is significant because close to 50% of remittances sent from Australia are to support families with living expenses.
But that hasn’t stopped younger people from contributing financially. Some 14% of Gen Z immigrants still send over half their wages to family overseas, despite the ongoing and escalating financial pressures.
Even with these financial difficulties, the contributions migrants make to the Australian economy should not be overlooked. They currently add an impressive $330 billion to the country’s GDP, a figure that is only going to go up in the next few decades.
It’s estimated that their contribution will grow exponentially to $1.6 trillion by 2050, according to this report by the Australia Migration Council. Moreover, each individual migrant will, on average, add some 10% more to the Australian economy than an already established resident.
The same report also highlights the positive impact migration will continue to have. Not only will it drive population growth, helping Australia hit 38 million residents by 2050, but it will also impact labor participation, employment, wages, income, national skills base and net productivity.
The data shows that despite cultural and financial difficulties, migrants play a key role in many countries. Their resilience allows them to overcome so many obstacles, as they continue sending money home and providing for their families.
Looking to send money to relatives in other countries? Make sure to use Ria Money Transfer for an accessible, efficient, and cost-effective way to remit money worldwide.
December has arrived and you know what that means: it’s holiday time! Regardless of where you live around the world, you’ll most likely participate in one winter holiday or another. Here are five winter holidays you can expect to see in the weeks leading up to the New Year.
Hanukkah
Hanukkah, also known as the Festival of Lights, is a winter holiday celebrated by the Jewish community.
This 8-day celebration commemorates a historic revolt in Jerusalem in the 2nd century BCE, which ultimately gave the Jewish people back their freedom to practice Judaism. Before their victory, Jewish temples had been seized and converted to worship the Greek gods. The legend states that the Jews returned to the temple and found only one jar of oil to light their sacred candles. Miraculously, the jar of oil lasted 8 days — enough time to find more oil and, therefore, continue to bless the temple.
Today, the holiday centers around family and friends. Jews celebrating Hanukkah light a candleholder called a menorah for eight nights. The menorah holds nine candles—one for each night plus a candle called the shamash used to light the other candles.
Other ways to celebrate include playing with the dreidel and eating oil-fried foods like latkesandsufganiyot.
Yule
Yule is celebrated on the winter solstice, making it one of the oldest winter celebrations in the world! Today, Yule practices are largely synonymous with the Christian holiday of Christmas, but the meaning behind Yule is quite different.
The word yule comes from the ancient word jól, used by Vikings to refer to the winter solstice festival. Winter solstice marks the longest night of the year, and therefore, the return of the sun. After the solstice, the days once again grow longer. It’s seen as a time of rebirth and renewal.
To celebrate, Norse men would bring home large yule logs to set on fire, which would burn for up to 12 days. During this time, people feasted and practiced gratitude.
Today, it’s common to decorate homes with evergreen wreathes and lit fireplaces. Take this shift in seasons as an opportunity to reflect and focus on new beginnings.
Christmas
Traditionally, Christmas is celebrated by Christians on Dec. 25 to remember the birth of Jesus Christ. The story states that a woman named Mary was told she’d give birth to the son of God. She traveled to Bethlehem and gave birth in a barn. News traveled fast, and three wise men came with gifts of gold, frankincense and myrrh.
Children may not receive myrrh in the 21st century, but they do receive presents….from Santa Claus! Traditions throughout the years have combined with other cultures and holiday celebrations to become what they are today. This has led to the Western lore that a man named Santa Claus lives at the North Pole and delivers presents to children every year on a sleigh pulled by flying reindeer.
Today, many people celebrate Christmas regardless of religion! Popular traditions include decorating the Christmas tree, baking cookies for Santa’s reindeer, and opening presents on the big day.
Kwanzaa
Kwanzaa is a winter holiday created to honor African heritage in African-American culture. Kwanzaa is observed for seven days, from Dec. 26 to Jan. 1, and finishes in gift giving and a big feast.
Kwanzaa comes from the Swahili phrase matunda ya kwanza which means “first fruit” or “harvest.” Celebrations often include songs and dances, storytelling, poetry readings, African drumming, and feasts.
Each of the celebrated days is dedicated to one of the seven principles of Kwanzaa: unity, self-determination, collective responsibility, cooperative economics, purpose, creativity, and faith.
New Year’s Eve
Last but not least, New Year’s Eve is one of the most widely celebrated holidays around the world! It marks the last day of the Gregorian calendar and entry into the new year.
Festivities typically begin on Dec. 31 and continue into the early hours of Jan. 1. Popular traditions include attending parties, making resolutions for the new year, and watching fireworks.
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Schools have reopened in regions across the globe, and for many students and teachers alike, school finally feels much the way it did before the COVID-19 pandemic began.
The return to “normal” comes after several years of school closures, remote learning, canceled events, and other disruptions to the academic calendar. But as families settle back into the welcome return of normalcy, it is important to remember that school closures have hit some communities harder, and for longer, than others.
The time students have spent out of the classroom threatens to have lasting developmental, social, and economic consequences for an entire generation. What will post-COVID education look like, and what can be done to help schools prepare for future disruptions and help students recover from learning losses?
Before and after COVID: the academic effects of empty classrooms.
UNESCO estimates that, as of March 2022, students have missed a combined two trillion hours of in-person learning globally since the beginning of the pandemic. 405 million schoolchildren in 23 countries still had not returned to in-person learning as of spring of this year.
One recent study found that, in four out of five countries, students have suffered measurable learning losses since the beginning of the pandemic. Students in Pakistan were found to have lost the equivalent of between 0.3 and 0.8 years of learning, while more than 80 percent of students in India were found to have lost at least one specific math ability and one specific language ability as compared to the previous school year.
Missing days in school has an impact on students that extends beyond education. For many, school is also a place that provides safety, socialization, access to healthcare resources, and a reliable meal. School nutrition programs serve approximately 370 million children worldwide, and the pandemic led to an estimated 30 percent reduction in essential nutritional services in low and middle-income countries.
Even where schools have reopened, the disruptions have had a lasting impact on students, with estimates suggesting that the current generation of students risks losing as much as $17 trillion in total lifetime income because of educational losses and school closures.
The impacts of school closures aren´t shared equally.
Educational setbacks stemming from school closures in recent years have only deepened existing divides between students from high and low-income families and communities. Studies conducted in Mexico and Ethiopia, for example, show that low-income students have fallen further behind in reading and math than their higher-income counterparts.
There are many complex causes behind this gap. Families with fewer resources have less income available for school fees, books, supplies, and transportation. Students without adequate nutrition have a harder time focusing on schoolwork and suffer from worse overall health. And families struggling to make ends meet sometimes rely on school-aged children to earn extra income by working – a problem only worsened for families facing illness, death, or job loss.
What can we do to get students back on track?
The worldwide scope of learning losses can make the path to post-COVID recovery seem daunting. But groups like UNESCO that have studied the situation in-depth make several recommendations about how nations around the globe can help students and school systems recover from extended school closures and begin to make up for lost time.
Schools need adequate funding to help students recover from learning losses. The share of both international development assistance and humanitarian aid that went toward education fell during the pandemic, and on average countries directed only 3 percent of their COVID stimulus packages to keeping students enrolled and engaged despite the hurdles. Without more resources, schools will face an uphill battle in providing the tools, expertise, and attention students need to succeed in a post-COVID world.
Recovery plans should not stop at getting schools “back to normal”. School systems must be able to adapt to changing needs without losing valuable classroom time. Teachers, administrators, and students alike need to be equipped with the resources and training necessary to continue teaching and learning despite extraordinary circumstances, including e-learning and digital learning resources, stable internet connections, and support for their mental health to improve overall wellbeing.
Ria + Save the Children.
At Ria, we believe that we share the responsibility of helping get students around the world back on track. That’s one of the reasons why we’ve joined forces with Save the Children — to drive positive change and improve the lives of vulnerable children worldwide.
In addition to emergency appeals that channel donations to areas of urgent need around the world, Ria´s partnership with Save the Children also includes investment in longer-term social intervention projects aimed at supporting at-risk children and their families. Two of those initiatives are poised to make an early and lasting impact on students.
In the Philippines, Ria and Save the Children will help ensure that nearly 9,000 boys and girls have access to quality, safe, uninterrupted education by providing school supplies and hygiene kits, furniture for temporary learning spaces to help ensure that kids displaced by disaster are able to continue learning, and training staff to spot signs of abuse and take action to protect students.
And in Mexico City, Ria and Save the Children will contribute to early-childhood education for more than 2,000 vulnerable children between the ages of 0 and 6 through preschool teacher training, learning materials aimed at helping kids master age-appropriate reading and math skills, and even an educational podcast for parents.
Supporting education is just one of the many ways this partnership promises to make a lasting positive impact on vulnerable children around the world. Find more information about our partnership with Save the Children and how you can be a part of it on our blog.
Millions of people leave their home country each year to improve their lot in life. Whether it be for work, study, or to escape natural disaster or conflict, the world has witnessed a steady flow of people picking up roots and moving on since the beginning of time.
Since 1970, the number of international migrants has increased threefold to 281 million, the United Nations’ most recent estimate, dated 2020. That’s less than four of every one hundred people.
Before COVID-19 acted as a brake on the movement of people, the number of international migrants throughout the world had been rising steadily. The United Nations estimates that the pandemic slowed the growth in the global pool of migrants by about two million by mid-2020, 27 percent less than the growth that had been expected.
Despite the pandemic, there are more migrants in the world today than there were 30 years ago. Different countries and regions have become more interconnected with the rise of a global economy and more people have been leaving their country of birth to pursue employment or educational opportunities abroad.
According to the World Bank’s most recent report on migration, Europe is currently the largest destination for international migrants, with 87 million, followed closely by Asia with 86 million international migrants. North America is the destination of 59 million of the world’s migrants, or 21 percent of the total.
At Ria Money Transfer, we are committed to helping families remain connected no matter how far apart they may be, by providing a cross-border money transfer service that is affordable, fast and safe. This report provides a snapshot of the factors that are impacting the international migrants who are our customers and the remittances they sacrifice to consistently send home, contributing to development abroad.
Many international migrants feel a deep obligation to consistently support the people they leave behind. The money they send back home – remittances – is often a critical lifeline for their families. International remittances to low and middle-income countries were over $600 billion last year, far exceeding development aid provided to those countries.
The remittances received from family members abroad keep food on the table for families, improve the educational opportunities of many children in the developing world, allow people access to healthcare, broaden resources available to small farmers, and help support small-scale businesses whose growth would otherwise be limited due to credit constraints, among other benefits. In developing countries where workers are abundant but have few opportunities for formal employment, remittances get people started on the path to self-employment. The evidence is strong that remittances help alleviate poverty for recipient families.
The impact of remittances goes further and can even improve the economic prospects of entire countries. In extreme cases, such as Nepal and Samoa, remittance inflows represent nearly 30 percent of GDP. For many developing countries, remittances contribute more than 10 percent of GDP.
2. The cost of sending remittances
The World Bank estimates that international remittances will grow an additional 4.2 percent this year to $630 billion. They are a crucial development tool that helps alleviate poverty. But is the cost of sending remittances commensurate with the critical needs they often help address?
Cutting the price of sending remittances by just a few percentage points would save remittance senders billions per year, according to development analysts. It’s no wonder that the United Nations has made reducing the cost of sending remittances to 3 percent an important factor in helping to reach the Sustainable Development Goals it has set for 2030. The UN recognizes why remittances are so important, and the impact they have on SDGs such as reducing poverty and hunger while promoting better health care and access to quality education.
The global average cost of sending a cross-border remittance stood at 6.04 percent at the end of last year, down from 6.8 percent In 2019. As the World Bank reports in its most recent Remittance Prices Worldwide report, the number of corridors with average costs of less than 5 percent is steadily increasing and mobile money options are helping reduce the cost of sending remittances in many markets. Still, some remittance corridors remain slow to take up the trend, such as Sub-Saharan Africa where fragmented payment systems, burdensome regulatory requirements and legacy non-compete clauses are keeping average remittance costs at nearly 8 percent.
3. COVID-19’s impact on remittances
More than 100,000 COVID-related travel restrictions were put in place by countries or territories during the pandemic. Aside from the far-reaching effect it had on international mobility, COVID slammed the economies of many developed countries. The majority – 64 percent – of the world’s migrants are living in G-20 countries so COVID’s economic impact had the potential to produce devastating consequences for many people in low and middle-income countries.
Convinced that the economic slowdown would mean that migrants simply would not have money to send, analysts initially forecast a 20 percent drop in remittances in 2020. Not only did remittances hold up, they increased by nearly one percent for that year and rebounded eight percent to low and middle-income countries in 2021.
International migrants know how important the money they send to their families back home is so they will go to extraordinary lengths to continue to send it, cutting back on their own consumption or drawing on savings to continue to support their families. Remittances are remarkably resilient in the face of crisis.
The resilience of remittances has been especially surprising considering the difficulties many international migrants have faced due to restrictions on mobility and lockdowns. At the start of the pandemic, migrants around the world not only became stranded in destination countries, but also while in transit. Migrants faced not only loss of jobs and employment, but the loss of residence permits and social services that are often tied to employment. Others were without resources to return home or faced restrictions on movement or closed borders that left them in limbo.
Many of the migrants who had maintained their employment throughout pandemic lockdowns were typically health or frontline workers exposed to a higher risk of contracting the virus. Many high-income countries depend on foreign-born healthcare workers, including the U.S., France, the U.K., and Germany (OECD).
The pandemic brought incalculable suffering and loss to people around the world, but it also forced the adoption of technology at an unprecedented rate. Technology that already existed but had not been implemented at scale was suddenly in high demand due to lockdowns and social distancing. This accelerated several trends in the payment ecosystem overall and brought unprecedented technological adoption. Some analysts estimate that five years’ worth of technological adoption took place in less than a year due to COVID.
Suddenly, not only did businesses need to provide a lot more goods and services online to survive, but the sheer volume of digital payment transactions meant that investment in payment infrastructure would pay off much more quickly both for businesses and the entities that provide them with financial service solutions, strengthening real-time payment networks. This helped pave the way for faster processing speeds as more processes became automated and more technological advances were implemented.
Not only have the digital payment services of traditional businesses improved since early 2020, but the number of customer-facing applications, and their adoption by consumers, also grew rapidly. There were 230 billion downloads of mobile applications in 2021 alone to serve the estimated 6.3 billion smartphone users worldwide.
5. Governments deliver support through digital channels
According to the World Bank, there are 1.7 billion people in the world without a bank account. Improving access to a basic account is a crucial first step in reaching broader financial inclusion goals and the digitization of aid payments can open a door to the financial system for many people. Before the pandemic, progress had been gradual. In 2017, about 63 percent of adults globally had a bank account, up from 54 percent in 2011.
The efforts of a number of countries made during the pandemic to encourage the use of digital services have made an impact on financial inclusion. In fact, most of the growth in the recent uptake in mobile wallet use has been in markets where governments provided substantial pandemic relief.
Nearly 60 low and middle-income countries have used digital payments to deliver emergency relief during the pandemic. One example is Brazil, which used its new real-time payments system, Pix, to distribute COVID-19 relief aid, resulting in 70 million new accounts in a country that has an estimated 34 million unbanked adults.
Access to mobile money payments and solutions is also pushing more people in low and middle-income countries to open bank accounts. This is due in part to the efforts of authorities in countries such as Colombia which is promoting the financial services sector and improving regulation and monitoring. The number of Colombians with a bank account grew to 86% in the first half of 2020, up from 82% at the end of 2019.
International relief organizations and NGOs are also using digital channels to disburse aid. The UN Refugee Agency, UNHCR, sent $700 million in cash and value assistance to 8.5 million recipients in 100 countries in 2020. The organization has established digital payment programs in 47 countries, 15 of which use mobile money. The digitization of cash assistance has the potential to foster financial inclusion.
In general, mobile money adoption continued to rise in 2021 globally, reaching $1 trillion transactions for the year. Registered mobile money accounts have grown 18% since 2020, reaching 1.35 billion globally by the end of last year.
In the case of remittances, mobile money platforms make the cross-border transfer of remittance payments cheaper and faster than traditional cash and bank transfers. The Global Average price to send an international remittance decreased from 6.3 percent to 6.04 percent in the last quarter of 2021, an encouraging sign that costs can come down quickly when conditions are right.
6. Connecting the world faster each day with real-time payments
Real-time payments (RTP) allow the whole payment process to occur seamlessly and instantly. Offering remittance payments in real-time is an attractive draw for remittance senders. Knowing that the money sent to loved ones far away arrived safely, in an instant, offers convenience and invaluable peace of mind for both the sender and the recipient.
Currently, 60 markets have a real-time payments infrastructure with Canada, Peru, New Zealand, and Indonesia launching in 2022, according to FIS Global. That means that by the end of this year, nearly three-quarters of the world’s population will have access to instant payments in their domestic market.
The appeal of RTP is extending beyond consumer and retail use cases to include business and corporate applications, such as instant salary payment, accounts payable, and bulk payments. The public sector is also turning to RTP for fee and tax collection, as well as benefits and pension payments.
One important hurdle RTP has yet to overcome, however, is enabling instant payments between countries as bank payment systems and infrastructure are not standardized throughout the world. Ria Money Transfer overcomes that obstacle because we maintain our own global payments network in more than 160 countries with mobile wallets in 61 countries and 3.6 billion connected bank accounts. Thanks to the quality of our international network, we can deliver cross-border real-time payments to bank accounts 98% of the time.
The integration of technology in payments processing is part of what makes cross-border RTP possible, particularly since compliance regulations can vary from country to country. RegTech, as it’s called, puts technology to use to speed customer onboarding and transactional processing. Technology is used at the backend to score transactions and filter for compliance checks.
Ria has its own internally developed RegTech tools, like its consumer risk assessment, that scores clients’ behavior each day based on their activity over time as well as an independent compliance culture that is a reference in the industry. This allows for more automated processing because the system does most of the checks, flagging only situations that appear high risk to a specialist for human review. This improves speed and convenience for customers.
Mobile money systems’ effect on the formal economy
Mobile money systems and payments are helping promote financial inclusion throughout the world, but they offer other benefits as well. Since mobile money creates a recorded financial history for every deposit, withdrawal, or transfer made, it can help protect consumer rights, build trust in business, and foster efficient payment networks. Digitizing government benefit payments also reduces the risk of fraud and theft, making the system more cost-effective and sustainable.
The data records generated by mobile transactions help facilitate oversight and supervision of money laundering and terrorism financing activities, particularly since mobile money systems have strong safeguards built in.
Strengthening the formal financial system through increased use of mobile money can help governments build more effective monetary policy by channelling more money and assets into the system, contributing to economic stability. By producing transaction records, mobile money encourages a shift to the formal economy which fosters contributions to social security, taxes, and secure wage payments, helping make it easier for the public sector to finance itself.
7. Filling the educational gap through remittances
At the peak of nationwide lockdowns due to COVID-19, the education of more than 1.5 billion children ground abruptly to a halt, causing an unprecedented global learning crisis. For children in the developing world, however, the crisis was already in full swing. Half of 10-year-olds in middle and low-income countries couldn’t understand a simple written sentence and more than 250 million children were not in school.
The pandemic intensified educational inequality because children in poorer countries have less access to the technology that allowed learning in rich countries to continue. More than half of the world’s households are connected to the Internet, but the share of students without Internet access varies from 15 percent in Western Europe and North America to as high as 80 percent in sub-Saharan Africa.
Remittances play an important role in providing educational opportunities for the young members of migrants’ families in low and middle-income countries. In 18 countries across Sub-Saharan Africa and Asia, remittances boost education spending by an average of 35%. Increased resources dedicated to education can create opportunities that last a child a lifetime.
8. Migration and conflict
The war in Ukraine has brought to the fore an often overlooked factor that impacts international migration flows: conflict. There are more people displaced by conflict and political turmoil today than at any time since World War II. Not only is the situation in Ukraine causing massive displacement of people, conflicts in Syria, Yemen, the Central African Republic, and the Democratic Republic of the Congo as well as instability in Venezuela and Afghanistan are forcing many people to leave their homes to ensure their safety. In the case of Ukraine, more than 6 million Ukrainians have fled the conflict in their country.
According to the National Bank of Ukraine, remittance flows to Ukraine amounted to more than $19 billion in 2021, a 28 percent increase for the year. That accounts for around 12 percent of the country’s GDP and is nearly three times the size of foreign direct investment. The World Bank expects remittances to Ukraine to increase 8 percent this year.
Beyond Ukraine itself, the conflict is also impacting Central Asian countries which depend on remittances sent from Russia which is cut off from the international financial system because of the war. In the case of the Kyrgyz Republic, where remittances make up 30 percent of the country’s GDP, the World Bank expects remittances to drop overall by a third this year. The country derives 80 percent of total remittance receipts from Russia and although international sanctions target Russian companies, they also affect the ability of individuals to send money outside of the country.
Ukrainians have fled the violence in their country, but another impact the conflict is having on the movement of people, is the number of Russians leaving their homeland as a result of the war and the gradual deterioration of civil liberties in Russia since it began.
The Russian Federation was already a major origin country for international migrants. In 2020, it ranked among the top 10 origin and destination countries for international migrants, with the third largest number of Russians living abroad after India and Mexico.
Since the start of the war, however, tens of thousands of Russians are reported to have arrived in Georgia, Armenia, Turkey, and Central Asia. In many cases, these migrants are young, urban, tech, or creative professionals who can work remotely from almost anywhere in the world. Since Canada, the European Union, the United Kingdom, and the United States have closed their airspace to Russian flights, these educated professionals are heading to countries like Armenia and Turkey, and to Central Asia because they are against the war and are fearful of what the future holds for them if they remain in Russia.
9. Conclusions
The mobility crisis brought on by the pandemic will have lasting effects on the cross-border money transfer industry.
The digital expansion of money transfer operators means a greater number of mobile wallets can be reached through bank payment systems, other wallets, fintech apps, ATMs, debit cards, and traditional over-the-counter cash points, bringing financial services like cross-border, real-time payments to more people than ever.
Along with accessing financial services through mobile money systems, a rising number of people throughout the world are opening bank accounts. This is due in part to the efforts of authorities in countries like Colombia who are promoting the financial services sector and improving regulation and monitoring.
Digital expansion is critical for the future of the cross-border money transfer industry, yet today, 70% of customers continue to rely on brick-and-mortar channels. These are people with digital skills that use other digital solutions but prefer to transact across multiple channels, sometimes digital, sometimes physical.
According to a World Bank report published last October, nearly 50 million adults took up in-store digital payments during the pandemic in Latin America and the Caribbean, but about half of new digital payment adopters surveyed in the region prefer a return to cash.
Many of these people are interested in omnichannel solutions that allow them to modify orders, change beneficiaries, track their activity across physical and digital channels, find physical locations, and access other self-service solutions. Being able to offer both will continue to be key for money transfer operators.
Important advances are being made that will lay the groundwork for increased financial inclusion throughout the world. Access to financial services is expanding along with the ability to move money around the world quickly, easily, and safely. Further progress is needed to lower costs for cross-border money transfers so that this essential service is affordable for everyone.
The money migrant workers send back to their countries of origin, remittances, is a crucial source of income for many developing countries. More than 270 million migrants globally send the money they earn in developed countries back home to their loved ones. International remittances amount to well over $500 billion each year, far exceeding the aid provided to those countries by development agencies and governments. Remittances are considered so critical that during the pandemic, countries declared money transfer an essential service so that customers could continue to send and receive money, despite lockdown restrictions.
Aside from the grave consequences for public health, the pandemic brought the economies of many developed countries to their knees, halting non-essential manufacturing production and closing restaurants and shops. As COVID-19 tightened its grip throughout the world in early 2020, analysts estimated that its impact on remittances would be a 20% drop for the year, convinced that many migrants would simply not have money to send. During an economic shock three times worse than the 2008 financial crisis, how could migrants continue to send money home?
Fortunately for the millions of people in the developing world dependent on remittances for their survival, those predictions did not come true. In fact, the global flow of remittances has held up during the COVID crisis, declining only slightly in 2020 to $540 billion, just 1.6 percent below prior year levels. A variety of factors explain how international migrants defied the experts and continued to support their loved ones at home.
One factor that analysts overlooked was the solidarity of international migrants when a crisis hits home, cutting back on their own consumption or drawing on savings to continue to support their families. “You have families staying at home, brothers and sisters not going to school and they are depending on you to help them” one West African resident told the BBC while the pandemic raged last spring.
International remittances: A tale of two countries
Currency fluctuations are another element that helped dull the impact of COVID on international remittances in some cases. The amount of remittances sent home by Mexican immigrants during the crisis was starkly different from those sent by Salvadorans. Migrants who send money home to the two countries from the United States have similar demographics and educational backgrounds. However, the remittance flows to El Salvador dropped 40 percent in 2020 compared to the previous year while the flows to Mexico increased 35 percent. Why?
Analysts at the FED attribute the difference to the fact that El Salvador’s economy is fully dollarized so the dollar’s rise in value didn’t increase the value of remittances arriving to that country, while the drop in value of the Mexican peso against the dollar created incentive for Mexican migrants to send more money home because they knew their dollars would buy more pesos for their families.
Sharing the umbrella
During the COVID crisis, many developed countries, including the US, EU and the Gulf states introduced measures to support laid-off workers and businesses affected by lockdowns. The Coronavirus relief law passed in the United States, for example, included $300 billion in one-time cash payments to individual taxpayers, loans for small businesses and expanded unemployment benefits. Cash payouts and employment support programs reduced the fall in personal income and helped businesses continue to employ workers. That meant more migrant workers in developed countries had safety nets they could share and the effect helped lessen COVID’s impact on international remittances.
Out with the old: COVID’s effects on how remittances flow
Although informal channels for international remittances were already in decline in recent years, COVID-19 helped highlight the advantages of using safer, more reliable money transfer services for international remittances. Informal channels, which rely on the movement of international travelers to deliver cash to recipients but ultimately expose those funds to the risk of loss or theft, have been largely unavailable during the pandemic due to restrictions on international travel. Ria has been making cross-border transfers safer and easier for more than 30 years. Throughout that time and now, we constantly look for ways to help our customers overcome obstacles and enjoy the peace of mind that comes from knowing their money will arrive safely and almost instantly to its destination.
Looking ahead
Now that the world has learned to live with COVID-19, remittance flows to developing countries are forecast to increase by 2.6 percent in 2021, to $553 billion and by 2.2 percent in 2022, to $565 billion. The bonds that tie international migrants to their home countries will remain strong and continue to strengthen even further when crisis hits. At Ria, we understand how critical our services are, especially when times are tough. Transfer money safely, easily and almost instantly with the Ria Money Transfer app, available for download here.
▪ Mayotte is a French overseas territory, considered to be the poorest region of the country with 8 in 10 inhabitants living below the poverty line. ▪ Cyclone Chido caused massive destruction in Mayotte, including considerable damage to Les Colibris School, leaving children unschooled. ▪ Les Colibris School is a private, community-led educational center in Mayotte that does not receive public funding, making it reliant on private support and parent involvement for its operations and projects. ▪ The school’s recovery was only possible through private aid and the collective action of parents, local stakeholders, and Ria, as public resources were unavailable to private institutions such as Les Colibris. ▪ Ria Money Transfer played a pivotal role in supporting the school’s reconstruction and the continuation of students’ education. ▪ The project highlights the importance of education and the meaningful impact of corporate social responsibility (CSR) in times of crisis. ▪ The initiative is guided by the belief that “Education is the most powerful weapon which you can use to change the world,” echoing Nelson Mandela’s words.
Mayotte is a French overseas territory nestled between Mozambique and Madagascar in the Indian Ocean’s crystal-blue water. But behind its post-card worthy beaches and nature, lies a sad reality: the territory is France’s poorest region. In fact, over 70% of Mayotte’s population lives below the poverty line.
Almost half of the archipelago’s population lives in small shacks that do not meet safety regulations and are often not connected to running water of electricity. Improving infrastructure is one of France’s first priorities in Mayotte. However, their mission has been hindered due to extreme weather events.
Cyclone Chido: A Community in Crisis
The region where Mayotte is located is prone to deadly cyclones. In December 2024, Cyclone Chido, a category 4 tropical cyclone, hit the French territory. With wind speeds reaching 250km/h, it was the most powerful storm to strike Mayotte in almost a century.
But much of the archipelago’s infrastructure wasn’t built to withstand the cyclone’s force. The weather system caused unimaginable destruction, razing entire shanty towns and leaving countless Mayotte residents without housing and access to basic services. Educational infrastructure also suffered considerable damages, deeply impacting, children’s right to education.
Such was the case of Les Colibris School, a community-led education center that was not eligible to receive public funding for its reconstruction. As a result, the community was forced to find a way to raise enough aid so more than 40 students could regain access to education.
The Power of CSR Initiatives and their Support
The school president, Nadjim Houdjatte, immediately got to work. He began reaching out to private organizations for financial support to help rebuild the school and restore a safe learning environment.
As it turns out, Nadjim is also a long-time Ria agent. For over 10 years, he’s been partnering with us to offer fast, secure, and accessible money transfer services to Mayotte’s inhabitants. Naturally, he turned to Ria in hopes of finally getting the help that the school so desperately needed.
When word reached Quentin Cornejo, Ria Country Manager in France, he immediately understood how important it was for us to get involved. Without hesitation, Ria responded to Nadjim’s request.
Thanks to this contribution and the support of other local stakeholders and volunteers, the necessary repairs were completed just in time for back-to-school season. Les Colibris students were able to start the school year in a welcoming space, ready to learn alongside their peers.
But Ria did not simply send a check. A team visited the facilities to make sure that all needs and expectations were being met, taking the opportunity to meet with the students, parents, and school staff. These moments of genuine interaction helped our team form true connections with the communities that rely on Ria.
Why Education Is More Than a Project
We are proud that our efforts contributed to promoting access to education, allowing us to give back to the Mayotte community that has always embraced Ria’s widespread presence across the archipelago. This initiative reflects our hands-on approach to CSR projects and partnerships, as well as the genuine care we bring to causes that are dearest to our hearts.
Education is one of these causes, because we know that it has the power to make a social impact far beyond the classroom. It fosters stability, reduces inequality, and opens doors to financial security. In fact, studies show that it has helped many households break the cycle of poverty.
In a place like Mayotte, where the poverty rate exceeds 80%, education can be a powerful tool to break this cycle and help families build better futures. That’s why we believe that supporting schools is an investment in long-term change. As Nelson Mandela once said: “Education is the most powerful weapon which you can use to change the world.”
The reconstruction of Les Colibris School brings a legacy of hope for Mayotte’s current students and future generations. And it’s a testament to what can be achieved when private resources are used to give back to the communities we serve.
Why doesn’t Les Colibris School receive public aid?
Les Colibris School is a private educational institution led by the community, which means it is not eligible for public resources from the national education system and must rely on private aid.
How did Cyclone Chido affect the school and its students?
Cyclone Chido destroyed the school, leaving children without access to education. The disaster also led to a significant drop in enrollment and forced many families to leave Mayotte.
Who helped rebuild Les Colibris School?
The recovery was made possible by private aid, including financial contributions from Ria Money Transfer and the collective efforts of parents and community members.
What role did Ria Money Transfer play in the initiative?
Ria Money Transfer provided crucial financial support for the school’s reconstruction and helped ensure the continuation of its students’ education after the cyclone.
Why is education considered so important?
Education is seen as a vital tool for community development and resilience, with studies showing that it fosters stability, reduces inequality, and opens doors to financial security.
Sending money internationally is easier than ever, but small mistakes can lead to big problems. A simple typo or a missing detail can cause delays, extra fees, or even a failed transaction. While these issues can be frustrating, there is good news: most money transfer mistakes are easy to avoid with a few simple checks.
1. Entering Incorrect Recipient Information
One of the most frequent errors in international money transfers is entering the wrong recipient details. A misspelled name, an incorrect account number, or a wrong mobile wallet ID can cause the transfer to be rejected or significantly delayed. When your money is needed urgently, these simple mistakes matter.
How to avoid this:
Match the name exactly: Ensure the recipient’s name is identical to how it appears on their official ID or bank records.
Copy and paste: Instead of manually typing account or mobile wallet numbers, copy and paste them directly from a message or document to avoid typos.
Check country codes: When sending to a mobile wallet, always double-check that you have the correct country code and phone number.
Send a test transfer: Before sending a large amount, consider sending a small test payment to confirm all details are correct.
2. Overlooking Hidden Fees and Exchange Rates
Many people focus only on the upfront transfer fee, but the exchange rate is where the real costs can hide. Some providers advertise low fees but offer unfavorable exchange rates, meaning less money arrives in your recipient’s pocket.
How to avoid this:
Compare the total cost: Look beyond the initial fee and check the exchange rate. Calculate the total amount your recipient will get before you confirm the transaction.
Use transparent services: Providers like Ria Money Transfer clearly display the fees, exchange rate, and the final payout amount before you send.
Time your transfer: Exchange rates can fluctuate daily. Use Ria’s app or website to check live rates and choose a time that works best for you.
3. Not Understanding Transfer Limits
For security and regulatory reasons, every country and provider has limits on how much money you can send. If you try to send more than the allowed limit without proper identity verification, your transfer could be delayed or even canceled.
How to avoid this:
Verify your identity early: Complete the Know Your Customer (KYC) process as soon as you sign up for a service. This often increases your sending limits.
Check limits before you send: Familiarize yourself with Ria’s sending and receiving limits for your chosen destination country.
Keep documents updated: Ensure your identification documents are current and readily available if needed for verification.
4. Choosing the Wrong Delivery Method
A common mistake is picking the payment and delivery method that is most convenient for you, rather than what is best for your recipient. Your choice can impact speed, accessibility, and convenience on the other end.
Compare your options:
Cash pickup: This is a great option if your recipient does not have a bank account or needs the funds quickly.
Bank deposit: A reliable and traceable method, perfect for sending money for savings or bill payments.
Mobile wallet: A fast and convenient choice for recipients who are comfortable with digital payments.
Home delivery: In certain areas, this service can be a lifeline for recipients in rural or low-access locations.
Always confirm your recipient’s preferred method before you initiate the transfer.
5. Falling for Scams and Fraud
Scammers are always looking for ways to trick people into sending money. They often create a sense of urgency, pretending to be relatives in an emergency, government agencies, or companies offering prizes.
Stay safe with these tips:
Verify identities: If you receive an urgent request for money, take a moment to confirm the person’s identity through a separate, trusted channel.
Use official channels: Only send money through the official Ria app, website, or authorized agent locations.
Never share transaction details: Keep your PIN, verification codes, and other transaction details private.
6. Misunderstanding Delivery Times
Expecting an instant delivery for every transfer is a common misunderstanding. Several factors can influence how long a transfer takes.
What affects transfer speed:
Payment and delivery methods: Cash pickup is often faster than a bank deposit, which can take a few business days.
Time zones and banking hours: Local business hours and time differences can affect when funds are processed and delivered.
Public holidays: National or local holidays in the receiving country can delay transactions.
Ria provides real-time updates so you can track your transfer and know exactly when it arrives.
7. Forgetting to Track Your Transfer
Once you’ve sent your money, failing to track it can cause unnecessary worry. Tracking your transfer gives you peace of mind and helps you resolve any potential issues quickly.
Benefits of tracking:
Stay updated: See the progress of your transfer from start to finish.
Resolve issues fast: If there’s a delay, you’ll know right away and can contact customer support.
Keep your recipient informed: You can let them know exactly when to expect the funds.
Use Ria’s Track a Transfer feature online or in the app. Just be sure to keep your PIN or transaction number in a safe place.
Your Pre-Send Checklist
To ensure stress-free transfers every time, create a simple “pre-send” routine to catch errors before they happen.
Is the recipient’s information 100% correct?
Have I reviewed the total fees and exchange rate?
Did I confirm the best delivery method with my recipient?
Do I understand the estimated delivery time?
Am I using an official and secure provider?
Send Money with Ria Today
Avoiding common money transfer mistakes isn’t complicated. It simply requires slowing down, paying attention to the details, and choosing a provider you can trust. With a reliable partner like Ria Money Transfer, you can feel confident that your money will arrive safely, quickly, and without unnecessary stress.
Peru’s growing economy and strong ties to international markets make it a popular destination for remittances. With multiple transfer methods available, from digital platforms to traditional bank wires, choosing the right service depends on your specific needs, budget, and timeline.
This comprehensive guide breaks down everything you need to know to send money to Peru, including fees, transfer speeds, and the best methods available through Ria Money Transfer.
Overview: Money Transfers to Peru
Peru uses the Peruvian sol (PEN) as its currency.
Many services let you send either in USD or PEN; recipients often prefer to receive in their local currency to avoid additional conversion.
A growing number of Peruvians use Yape, a mobile wallet for digital payments and remittances. Ria partners with Yape so you can send directly to Yape.
Fees & Exchange Rates
When you send money internationally, your total cost comprises:
Upfront transfer fee (what the remittance company charges you)
Exchange rate margin / markup (the difference between the “mid-market” rate and the rate the company gives you)
Fast, but card issuers may charge extra fees (cash advance).
Wire / bank-to-bank
Use international wire service
Funds delivered by correspondent banks
Reliable for large transfers, but often expensive and slower
What You’ll Need / Verification
Like sending to any country, providers need identity verification, recipient details, and source-of-funds information. Ria’s identity requirements tend to apply broadly, so similar documentation will likely be required:
Typical requirements:
Valid government-issued ID (passport, driver’s license, national ID)
Name, address, contact info of sender and recipient
For bank deposit: recipient’s bank name, branch, account number
For mobile wallet: recipient’s wallet identification
Sometimes proof of source of funds (depending on amount / regulations)
If sending large amounts, additional KYC / AML checks may be required.
Step-by-Step Guide to Sending Money to India with Ria
Ria makes sending money internationally simple, fast, and secure. Here’s how to do it in just a few steps:
For cash pickups, share this PIN with your recipient.
8. Notify the Recipient
Ensure your recipient knows where and when to collect their funds.
For cash pickups, they must present their ID and the tracking PIN at designated locations.
FAQs About Sending Money to Peru
Is it safe to send money online? Yes. Ria uses encryption, identity verification, and secure systems to protect your transfer every step of the way. We’ve helped millions of people send money across the globe for over 35 years.
What is the cheapest way to send money to Peru? Generally, paying with your bank account and sending to a recipient’s bank account or digital wallet in Peru is the most cost-effective option. These methods usually have lower fees and competitive exchange rates.
Can I send money to a debit card in Peru? Ria doesn’t currently support transfers directly to Peruvian debit cards. However, you can send funds to your recipient’s bank account or Yape wallet, both of which are typically linked to debit cards for easy access to funds.
How much money can I send to Peru at once through Ria? Limits vary depending on your location, how you pay, and your recipient’s payout method. You’ll see the exact limit when setting up your transfer. If you need to send a large amount, additional verification may be required for your safety.
Send Money to Peru with Ria
Whether you’re sending funds for family expenses, emergencies, or special occasions, choosing the right transfer service is key. Ria offers fast, cost-effective, and secure options to send money to Peru, making it one of the best choices for your international remittance needs.
In September 2025, Ria Money Transfer and Proyecto Migrante launched a collaboration to empower migrants in Spain and across the globe. This partnership was a natural fit, as we share core values and a commitment to support migrants.
The Migrant Realities: Hopes, Challenges & Opportunities
Current situation in numbers
According to the International Migrant Stock (UN Population Division), in 2024, the number of international migrants worldwide stood at 304 million. That same year, Europe received more international migrants than any other region in the world with 94 million. In Spain, 18,5% of the population are international migrants, making the country the 6th leading country of arrival.
The majority of those migrants are from Latin America. Based on INE’s Continuous Population Statistics, during the second quarter of 2025, the main nationalities of immigrants coming to Spain were Colombian, Venezuelan and Peruvian.
Behind these migration flows lie very real human challenges. Because arriving is only the first step, integrating into a new society can be a much bigger hurdle.
Integration challenges
Often, migrants and Spanish nationals are not dealt the same cards.
As we see in The European Migration Network’s country factsheet for Spain, when it comes to education, the data highlights a real gap between migrants and nationals. In 2023 in Spain, young migrants are far less likely to have pursued higher education: only about 28.6% hold a higher education degree, compared with 57,6% among Spanish nationals. The gap is even bigger among early school leavers: a third are migrants, while 11% are Spanish.
This gap is also reflected in the labor market, with the unemployment rate for migrants sitting at 18.5%—7.5% higher than for Spanish nationals—increasing their risk of living in poverty, facing social exclusion, and being less likely to own a home.
These figures show that migrants face distinct challenges that require targeted support and attention.
Migrants’ Needs
Migrants, like anyone else, need basic security: safety, shelter, food, healthcare, and long-term stability. Beyond that, they also need access to financial services to send money home, a welcoming community to feel a sense of belonging, and education and job opportunities to build a sustainable life.
This is where Ria Money Transfer and Proyecto Migrante come in.
The Collaboration: How Ria & Proyecto Migrante Work Together
Meet Proyecto Migrante
Proyecto Migrante is the first collaborative community supporting migrants in Spain, aiming to promote cultural integration and well-being by using social media as a force for good. It was founded in 2023 by Wilder and Gianfranco, two Peruvians who left everything behind to build a future in Europe. The project invites migrants to connect, share, and grow, breaking down barriers and creating opportunities. Originally based in Spain, Proyecto Migrante is also expanding its mission worldwide.
On their TikTok account, which has accumulated 1.4 million likes, they share content with their 171.5K followers. In one instance, they surprise a migrant on the streets of Madrid with a fully paid shopping spree. In another, they buy everything from a migrant vendor’s street food stall and pay for their groceries. Aside from these initiatives, they also often provide migrants with free hospitality courses to enhance their skills, fun activities to lift their spirits and job opportunities to help them earn a living.
A Shared Mission
Joining forces with Proyecto Migrante was an obvious decision for Ria, as we share a commitment to supporting migrants’ inclusion. While Proyecto Migrante empowers migrants in their new country, Ria helps them stay connected to their home, family and friends through remittances, ensuring their hard-earned money reaches their loved ones.
According to the Banco de España’s Economic Bulletin 2025/Q2, in 2023, remittances sent abroad from Spain amounted to around €10.7 billion, a number that has grown considerably in the last 20 years. Latin American countries are the main recipients of remittances sent from Spain. In 2023, 62% of the remittances received by Paraguay, 31% by Bolivia, 16% by Ecuador, and 13% by Colombia came from Spain.
These numbers reflect how crucial remittances are in many households. They provide direct financial support to families, help prevent poverty, fund education, enable family investments and offer protection during crises. With Ria, migrants can benefit from fast and safe money transfers to support their loved ones back home.
Migrant Stories: The First Video
Thanks to Ria’s support, Proyecto Migrante was able to cross borders and reach the Philippines.
There, the team gave back to a community connected to the migrants they serve in Spain. They brought meals, smiles, and hope to children in a small rural school. “Although for many it is a simple meal, for them it means studying with energy, growing up with hope and smiling without worries,” said a Proyecto Migrante representative. Check it out!
The Philippines ranks first in the World Risk Index 2025 and faces increasingly extreme weather events, disrupting everyday life and essential services like schools, which strongly affects children’s right to education. Ria has been helping the community through its partnership with Save The Children International for three years now. We are pleased to expand our support through Proyecto Migrante.
But this is just the beginning. Together, we are building a future where migrants feel supported, empowered and connected to their loved ones.
FAQ: Quick Answers About Ria, Proyecto Migrante & Migrant Support
Q1: What is Proyecto Migrante and how does it help migrants?
Proyecto Migrante is an NGO that provides community support, financial aid and job opportunities to empower migrants.
Q2: What challenges do migrants face today?
Migrants face real integration challenges in Spain, including gaps in education, higher unemployment rates, financial exclusion, limited access to social services, and barriers to housing and social inclusion.
Q3: How does Ria Money Transfer support migrants?
Ria helps migrants stay connected to their home countries by providing fast, secure, and affordable money transfers. These remittances support families, fund education, prevent poverty, and provide stability during crises.
Q4: What is the goal of the Ria–Proyecto Migrante collaboration?
The collaboration aims to empower migrants in Spain and beyond by combining Proyecto Migrante’s on-the-ground support and Ria’s financial services, creating opportunities, promoting inclusion, and improving migrants’ well-being.
Q5: How can I support this initiative?
You can support the initiative by following and sharing Proyecto Migrante’s videos, engaging with their social media content, or donating to help fund programs that provide migrants with education, skills, and community support.
While awareness is growing, many still carry these burdens silently for fear of being misunderstood or stigmatized. To help end these misconceptions, October 10th was designated as the day dedicated to raising awareness about mental health issues around the globe.
You should always seek professional help if you need it. But we know that mental health help is not always easily accessible, depending your situation. So today we’re sharing easy ways to boost your mental wellness.
The World Health Organization defines mental wellness as “a state of well-being in which the individual realizes his or her own abilities, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to his or her community.”
Below, we’ll walk you through some tips to boost your mental wellness from the comfort of your home.
While these aren’t a substitute for professional help, they’re small steps that can make a big difference in your day-to-day mental wellbeing.
1. Breathing exercises
Although it sounds basic, and you’re sure to have heard it a million times already, it doesn’t make it any less effective. Connecting to our breath is one of the most fruitful and straightforward ways to boost mental wellness.
When we’re busy coming and going, we don’t realize that we breathe less effectively. The body tends to clam up when under stress, restricting our airway and discouraging us from deepening our breaths. This means our body is not getting as much oxygen as it needs, which leads to stress, anxiety, and fatigue.
The good news it that it’s super simple to reset our breathing. A common solution is the 4-7-8 breathing exercise, consisting of a four-second inhale, a seven-second pause, and an eight-second exhale. By repeating this exercise three or four times, we are able to bring down our heart rate and reconnect with our breath. This is also a helpful technique to use before bed if you’re feeling restless.
2. Exercising
Contrary to popular belief, you don’t need extensive workout routines to reap the benefits. In fact, studies have shown that as little as 10 minutes of exercise per week can boost your mental health. However, the amount of time needed will vary from person to person. The important thing is getting to know your own body and trying out different exercises and routines.
But how does exercise improve mental health? Exercise releases endorphins, a brain chemical that makes us feel happy and energized. At the same time, exercise can help you sleep better and improve your concentration. What’s not to love?
Even if you lead a sedentary life, exercising for 10 minutes a week is not a lifestyle change. Try it out and see how you like it. Who knows? Maybe you’ll be running marathons in two-years’ time.
3. Meditation
For those who aren’t familiar with it, mediation can seem complicated and even strange. However, meditation is like the sweet spot between deep breathing and falling asleep. At its core, meditation is a moment to reconnect with our mind and body and bring ourselves back into the present moment.
When we’re stressed, we tend to “leave” our bodies, focusing only on the imaginary scenarios running through our heads. As a result, we lose track of our own physical needs: staying hydrated, eating properly and at the right intervals, sleeping, or having fun.
We’re also starting to see that meditation may have even more profound benefits than we first thought. These include long-term improvements to gene expression and overall health.
If you’d like to try out meditation for a few minutes, this grounding practice could be a good place to start.
4. Yoga
An ancient Indian practice, yoga is the perfect marriage between breathing, meditating, and exercising. So, if you enjoyed any of the above activities, you might want to combine them all and settle into a yoga practice.
Aside from its many physical and mental benefits, yoga is a good option for people who don’t enjoy contact sports or high-impact exercising. It can be used both for muscle toning and strengthening as it can be for working on muscle knots and pain.
The key is carving out that time to take care of yourself. There’s something magical about showing up for ourselves, about reinforcing that commitment to look after our own wellbeing. If you’re ready to get started, here’s a sequence for beginners that will walk you through the basics.
5. Journaling
So far, we’ve been talking about using our physical bodies to ground ourselves and boost our mental wellness. However, working directly with the brain can also be super effective when it comes to improving mental health and wellness.
Journaling might sound like homework, but it really isn’t. When we say journaling, we mean sitting down with a problem or concern and jotting down how we feel about it on paper. Our brains love solving problems, but if we let our thoughts run loose for too long, we’ll wind up with a jumbled mess of ideas and worries.
When we write, we force ourselves to organize our thoughts. As you journal, you’ll notice how thoughts become much less pronounced once you write down an idea. All your brain was trying to do was ensure you’d remember. Now that it’s on paper, it won’t need to sound the alarms anymore.
But the true magic of journaling comes after the brain dump. Seeing your thoughts written down can help you find solutions, notice patterns, and even come up with more concise ideas. All it takes is pen and paper. And if freestyle writing isn’t your cup of tea, here’s a list of writing prompts to guide you.
6. Doodling
Maybe writing isn’t your thing. That’s fair. Here comes doodling to the rescue. Doodling is what you’ve been doing in the margins of your school notebooks or on the back of that receipt that has been sitting on your desk for the past six months.
Studies show that doodling can help our brains solve problems without needing to consciously think them through. Instead, doodling will unleash that creative space within you, kind of like those great ideas you have while showering.
Coloring, doodling’s cousin, can also boost your mental wellness. You can download some mandalas, ancient geometric designs known for improving mental health and concentration, here.
7. Establishing a self-care routine
Be it making sure you moisturize your face before bed, lighting candles, or giving yourself a foot massage, self-care is important. However, the most important part of self-care is ensuring it comes in some form of routine.
By incorporating activities that improve mental wellness in your day-to-day, your body will know to expect these moments of downtime and reassurance. Keeping up with your routine will also increase the chances of reaping cumulative benefits overtime.
8. Keeping promises to yourself
In line with a self-care routine, establishing habits and sticking to them is a great way to honor yourself and your mental wellbeing. Doing something as simple as making your bed every morning can send a strong message to yourself that you are committed to your goals and your overall wellness.
9. Planning and scheduling
While you should still prioritize mindfulness and exercise, getting all your ducks in a row can help you relax and carve out even more time for yoga or journaling.
There are many ways to organize your day or your workload. From having an Excel sheet or reminders on your phone to putting up a dozen post-its, there are planning styles for every taste.
A good rule of thumb is to start simple. Create a list of your recurrent tasks or responsibilities and figure out what your current schedule looks like. Would waking up an hour earlier be a better way to get some exercise in? Or would ending work sooner free you up for doodling sessions?
The important thing is that you keep modifying your schedule so it works for you. That includes revisiting a tried and true plan when something about your lifestyle or work schedule changes.
10. Organizing your space
Along the same lines of planning and scheduling, organization can help tremendously to streamline your day-to-day tasks.
When you don’t have to host a scavenger hunt to find your notes from yesterday’s meeting, your time can be used more effectively. Decluttered spaces can also have a soothing effect on the brain.
At the end of the day, the hardest part about mental wellness is finding the motivation to engage in these little activities that may seem like nothing but have a massive impact on your mental health.
A cluttered space is an easy, and even understandable, excuse to press the snooze button on your mental wellness journey. Make sure that your space is conducive of positivity and wellness instead of an ally to stress and anxiety.
11. Reading
We know that reading is important as a source of knowledge, but it can also do a whole lot about boosting your mental wellness. Reading can both provide escapism and help organize your thoughts. In other words, by curling up with your favorite book, you can train your brain to better structure your thoughts while also engaging in a therapeutic experience. And if you’re not into reading, audiobooks are a great alternative!
And there you have it! The journey to mental wellness is an ongoing process, but a rewarding one. Start with what sounds the most appealing and see where it takes you.
Although modern society wasn’t built around the concept of self-care, you’ll be amazed at how keenly your mind and body will take to these exercises once you get going.
When you send money with Ria Money Transfer, security comes first. That’s why identity verification is required—not just as a step in the process, but as a way to protect you and your loved ones.
In this guide, we’ll explain what documents you need, when verification is required, and how to submit them correctly—so you can complete your Ria identity verification smoothly and start transferring with confidence.
Why Identity Verification Is Required
At Ria Money Transfer, we follow Know Your Customer (KYC) regulations to keep money transfers safe. These rules aren’t just paperwork—they help protect the financial system from fraud, money laundering, and other illegal activity.
That’s why we ask for official documents to confirm your identity and make sure your details match government records. As part of anti-money laundering (AML) laws, we also keep an eye on transactions to spot anything unusual.
This process may sound formal, but it’s all about trust. By verifying every customer, Ria ensures a secure experience where you can send money confidently, knowing your transfers are protected.
When Do You Need to Verify Your Identity with Ria?
Verification isn’t always required immediately, but certain situations will trigger the process:
First-time transfers over specific limits require verification before processing. The exact amount varies by country and regulation, but expect verification for most initial transfers.
Large money transfer amounts always require verification, regardless of your history with Ria. Higher-value transactions carry greater regulatory scrutiny and risk, making verification essential.
Receiving money in certain countries may trigger verification requirements based on local regulations. Some destinations have stricter compliance requirements that affect both senders and recipients.
Account updates or flags can prompt reverification. If you change personal details, haven’t used your account recently, or if automated systems detect unusual activity, we may ask you to verify your identity again.
The key is being prepared. Having your documents ready means you won’t face delays when you need to send money urgently.
Primary Documents Accepted for Identity Verification
Ria accepts several types of government-issued photo identification. Your document must be current, unexpired, and clearly show your full name, date of birth, and photograph.
Passport is the gold standard for identity verification. It’s universally recognized and contains all necessary information. Your passport must be valid and not expired.
National ID card works in countries where these are standard government-issued identification. The card must include your photo, full legal name, and date of birth.
Driver’s license is acceptable in many countries, provided it includes a photograph and meets government standards for identification. Some countries’ driver’s licenses don’t qualify, so check with customer support if you’re unsure.
Residency card may be accepted depending on your country and the card’s official status. Permanent resident cards typically qualify, while temporary permits may not.
Document quality matters. Your ID must be clear and legible with no missing corners, excessive glare, or blurry text. The photo should clearly show your face, and all text must be readable.
Country-Specific Requirements
Different countries have unique verification requirements based on local regulations and banking laws.
United States customers may need to provide their Social Security Number along with photo identification. This helps comply with U.S. anti-money laundering regulations.
United Kingdom residents might be asked for their National Insurance Number for certain transactions, particularly larger amounts or first-time transfers.
European Union countries each have specific requirements, though EU-issued identification is generally accepted across member states.
Other regions may have additional documentation requirements based on local banking laws and compliance standards.
Supporting Documents (If Needed)
Some situations require additional documentation beyond your primary photo ID.
Proof of address may be requested for certain transfers or account situations. Acceptable documents include utility bills, bank statements, lease agreements, or government correspondence dated within the last three months. Your proof of address document must clearly show your full name and current residential address. Bills or statements that only show a nickname or abbreviated name may not be accepted.
Secondary identification might be required for high-value transfers or if manual review is needed. This could include additional government-issued documents or alternative forms of identification. The key is providing documents that clearly match your primary identification. Inconsistencies in names or addresses can cause delays, so ensure all documents show identical information.
How to Submit Your Documents
Document submission is simple when you follow the correct process.
Upload through the app or website using the verification section of your account. The system will guide you through each step and specify which documents are needed.
File format requirements include PDF, JPG, and PNG files. Avoid uncommon formats that may not process correctly.
Image quality is crucial. Take photos in good lighting with minimal shadows. Ensure all text is readable and no parts of the document are cut off. Avoid glare from overhead lights or camera flash.
Common mistakes to avoid include uploading blurry images, cropping out important information, photographing documents at angles, or submitting expired identification.
Take a moment to review your uploads before submitting. Clear, complete documents process faster and reduce the chance you’ll need to resubmit.
How Long Does Verification Take?
Most verifications process within 24-48 hours during business days. Simple cases with clear documentation often approve much faster.
After approval, you’ll receive confirmation via email or app notification. Your account will be updated to reflect your verified status, and you can proceed with money transfers.
If resubmission is needed, you’ll receive specific instructions about what needs correction. Common issues include document quality problems or missing information.
Processing can take longer during peak periods, holidays, or if manual review is required. Complex cases or unclear documentation may extend processing time.
Frequently Asked Questions
What if I don’t have government-issued photo ID? Contact customer support to discuss alternatives. Some countries accept other forms of official identification, though options may be limited.
Can I verify my account if I’m not a citizen? Yes, valid identification from any recognized government typically works. Residency status doesn’t prevent verification, though requirements may vary by country.
Is my information safe with Ria? Absolutely. Ria uses bank-level security to protect your personal information and follows strict data protection regulations. Your documents are encrypted and stored securely.
What happens if my ID expires during verification? You’ll need to provide current, unexpired identification. Expired documents cannot be used for verification, even if the expiration is recent.
Your Security Is Our Priority
Identity verification protects every money transfer you make with Ria. This process ensures your funds reach their destination safely while keeping fraudsters out of the system.
Ready to send money securely? Complete your verification today and experience the confidence that comes with Ria’s trusted money transfer service.
• Peru’s cultural identity has been shaped by waves of immigration, notably from Italy, China, and Japan.
• Each immigrant group contributed significantly to Peruvian gastronomy, creating fusion cuisines like chifa and Nikkei.
• Over 3.49 million Peruvians live abroad, with large communities in the U.S., Spain, Argentina, and Chile.
• Peru also hosts over 1.35 million immigrants, mostly Venezuelans, creating a dynamic migration landscape.
• Mobile wallets like Yape, supported by Ria, are revolutionizing financial inclusion for Peru’s largely unbanked population.
• These digital tools enable fast, secure, and accessible international money transfers, strengthening cross-border family ties.
Peru’s history has been shaped not only by its ancient roots but also by successive waves of migration that brought new perspectives, skills, and traditions. From early settlers to more recent immigrant communities, these movements have influenced the country’s economy, society, and identity in lasting ways. Today, just as past migration helped weave together new opportunities and ways of life, modern technological shifts are reshaping how people connect and thrive.
One of the most significant transformations is happening in financial inclusion. Digital solutions like mobile wallets are empowering millions of Peruvians, including migrants and their families, to access vital financial services and support each other from afar.
In this post, we’ll explore how migration has influenced Peru’s development, and how digital tools are opening new doors for inclusion, opportunity, and growth.
Global Roots: How Immigration Has Shaped Peru
Immigrants from all over the world move to Peru, where over 1.3 million foreigners have settled down in the last year.
However, some specific groups have had a larger impact, seamlessly incorporating their own customs and traditions into Peruvian culture.
Italian Legacy in Peru
Peru has received one of the most significant migratory flows of Italians in South America, which started as early as the Spanish colonial era. Back then, many Italians were employed as marine captains due to a lack of qualified professionals in Spain. Italian arrivals then peaked during the Guano Era, between the 1840s and 1860s, when Peru’s economy boomed thanks to guano exports (a mix of bat, sea birds, and seal excrements used as a fertilizer). The most recent notable wave of immigration occurred during World War II, as many fled political persecutions in Italy.
Since then, Italians have fully integrated into Peruvian social and economic life, contributing extensively to Peruvian cuisine as they tried to recreate recipes from back home with local ingredients. This gave rise to new iconic dishes with creative variations, as well as the incorporation of staples like panettone, now a popular Christmas treat in Peru.
Chinese Immigrants’ Enduring Influence
The first Chinese immigrants arrived in Peru in the 19th century, mainly to work in the fields or guano mines, where labor was much needed. Through word of mouth, many heard of the opportunities and made the journey to Peru.
Chinese immigrants brought a whole new set of traditions to local culture. They popularized tea, calligraphy, martial arts, and traditional Chinese medicine techniques. But their main contribution by far is chifa food. Born from integrating Chinese culinary traditions with Peruvian ingredients, one of the world’s best regarded cuisines was born. Arroz chaufa, one of their signature dishes, has become an iconic part of Peru’s gastronomy and can be found at any Peruvian restaurant.
Japanese Effect on Gastronomy
Much like Chinese immigrants, the Japanese first wave of immigration arrived in the late 19th century. At the time, Japan was in the midst of the Meiji Restauration, an era of industrialization when agriculture was pushed aside. Countless farmers and workers found themselves without work and in precarious situations. At the same time, Peru needed labor for its agricultural sector. So, both countries signed an agreement to facilitate the migration of Japanese workers.
Today, there are more than 200,000 people of Japanese descent living in Peru, most of them descendants of immigrants who arrived in the late 1800s. Over time, they became fully integrated in Peru, but they also contributed to it by deeply influencing Peruvian cuisine. The fusion of Japanese and local ingredients is known as Nikkei cuisine, classified as fusion cuisine. Their innovative recipes combine the best of both worlds, giving birth to dishes like maki encevichado, a delicious mix between ceviche and makis. Thanks to its innovative creativity and delicious flavor combinations, Nikkei cuisine is becoming increasingly popular, not only in Peru, but around the world.
Peru has welcomed a wide range of cultural influences over the centuries. Each contribution has enriched the country’s identity, adding new flavors, rhythms, and customs to its already diverse heritage.
The Current Landscape of Migration in Peru
Migration in Peru has always been a two-way street. While the country has welcomed a growing number of immigrants, millions of Peruvians have also moved abroad in search of better opportunities.
According to Peru’s National Institute of Statistics and Informatics (INEI), more than 3.49 million Peruvians currently live abroad, which represents roughly 10.5% of the national population. The largest Peruvian communities are found in the United States (30.2%), Spain(15.6%), Argentina (13.5%), and Chile (11.7%).
At the same time, Peru has become a destination for migrants, especially from Venezuela. As of 2023, over 1.35 million foreigners resided in Peru, with 86% being Venezuelan nationals. And as immigrants to and from Peru continue to build bridges across borders, technology is playing an increasingly important role in keeping those connections alive.
In the next section, we explore how digital financial tools such as mobile wallets aretransforming how people manage their money, support loved ones, and stay united across distances.
How Mobile Wallets Are Driving Financial Inclusion in Peru
In Peru, over 71% of the population work in the informal sector, which means they often lack access to traditional financial institutions and their services, such as bank accounts or loan requests, among other things. These people are referred to as unbanked.
Almost half of the unbanked individuals in Peru declare that the lack of good financial institutions is also an obstacle to financial inclusion. But modern digital financial solutions are bridging that gap and offering them access to financial services, namely through mobile wallets.
Mobile wallets are essentially mobile phone applications or services that allow users to store, send, receive, and manage money digitally, often without needing atraditional bank account or payment card. This fast and secure mechanism allows users to transact directly through their phone.
Considering that 79% of the Peruvian population has a mobile phone and 90% has access to the internet, this tool is a perfect way to provide unbanked individuals in the country with access to financial services.
Mobile wallets are increasingly evolving into multipurpose tools, allowing users to handle everything from shopping to bill payments, from requesting loans to making international money transfers, all from the comfort of their phones. And they are becoming increasingly popular everywhere around the world.
At Ria, we are committed to providing fast, secure, and accessible money transfer services, expanding our digital portfolio to offer our customers financial tools that are truly tailored to their needs.
That is why we have partnered with Yape, a mobile wallet developed by Banco de Crédito del Perú, one of Peru’s largest banks. Launched in 2016, it has become overwhelmingly popular thanks to the easy-to-use features, large service portfolio, and widespread accessibility.
Through Ria’s largest real-time money transfer network, Yape’s remittance feature allows migrant workers living in Peru to send money from their mobile wallet account to their loved ones back home. Vice-versa, the relatives of those who have moved out of the country can receive money transfers directly on Yape. No more cash-pickups or bank accounts needed, it’s that easy.
As Peruvians and migrants living in this country continue to navigate life across borders and generations, these digital solutions are helping them stay connected to each other in simple, accessible ways. Every time our customers send money back home, they contribute to making the world a better place, by helping their families cover emergencies, basic needs, and build a better future.
Financial Inclusion and Connection Through Digital Solutions
In this ever-evolving world, mobile wallets play a vital role. With the launch of Yape’s international remittance feature, sustained by partners like Ria, migrants to and from Peru can now send and receive money across borders.
Because at Ria, we know how important it is to create fast, secure, and accessible paths for you to support your loved ones. Every time our customers send money back home, they help their families cover emergencies, basic needs, and build a better future.
▪ Embedded finance allows platforms to offer financial services natively, boosting revenue and user retention.
▪ Integrated Money Transfers enable SaaS, fintechs, and marketplaces to integrate remittance features seamlessly.
▪ Ria Money Transfer offers a scalable, secure, and global API solution for platforms targeting international or migrant users.
▪ Monetizing with remittance-as-a-feature is an evergreen strategy for platforms looking to differentiate and grow.
▪ Ria’s API supports white-label, co-branded, and native integrations, making it flexible for various business models.
Embedded finance is reshaping how platforms engage users and generate revenue. By integrating financial services—like payments, lending, and remittances—directly into non-financial platforms, businesses can offer seamless experiences that drive loyalty and monetization.
For SaaS providers, fintechs, and marketplaces, embedded finance is no longer optional, it’s a strategic move that combats rising acquisition costs and shrinking returns on investment.
Among embedded finance solutions, money transfer services like Ria stand out for platforms serving international or migrant users. Whether it’s a gig economy app paying freelancers abroad, a business that sends and receives B2B money transfers through an API, or a marketplace with global sellers, remittance capabilities add real value.
What Is Embedded Money Transfer?
Embedded money transfer refers to the integration of remittance capabilities directly into digital platforms. Instead of redirecting users to external services, platforms can offer money transfers as a native feature. This is also known as a white-label remittance solution.
This approach is already being used across industries: gig platforms use it to pay international freelancers, e-commerce sites enable sellers to receive cross-border payments, neobanks offer remittance as part of their core services, and payroll apps disburse salaries to migrant workers globally.
This shift from standalone services to embedded solutions is transforming the remittance industry. As Forbes explain, the future of remittances lies in integration by providing users with a unified experience within their trusted platforms.
Why Embedded Money Transfer is a Game-Changer
This appeal, at its core, lies within a seamless user experience. Customers can send or receive money without leaving the platform, which increases engagement and satisfaction. According to McKinsey’s Global Payments Report, embedded finance is reshaping customer journeys by integrating financial products into everyday digital experiences.
Our infrastructure supports real-time transfers, multi-currency payouts, and robust compliance, making it ideal for integration.
The Revenue Opportunity: Why Add Remittance to Your Platform?
Integrating money transfer services into your platform opens up multiple monetization paths. For example, platforms can earn transaction fees on each transfer or participate in revenue-sharing models offered by Ria.
Beyond direct revenue, embedded remittance boosts user retention. When users can send money without leaving the platform, they’re more likely to stay engaged and loyal. This is especially true for platforms serving communities where sending remittances is a regular activity.
Offering remittances also helps platforms stand out. In crowded markets, differentiation is key. By adding financial services that competitors lack, platforms can position themselves as more comprehensive and user centric.
Ria’s brand recognition and global reach further enhance this value proposition, lending credibility and trust to the embedded service.
Behind the Scenes: How Merging Ria’s Integrated Money Transfers Works
Integrating money transfer capabilities into your platform can be a powerful move, but it doesn’t have to be a complex one. We offer you two distinct integration options for digital partners, each designed to suit different levels of technical involvement and business needs: Turnkey Hosted and API integration.
For platforms seeking a fast and low-effort way to launch, our turnkey hosted solution is the most streamlined option for your platform. This model is fully managed by Ria, meaning your platform can offer international money transfers without needing to build or maintain the infrastructure.
It includes a secure Single Sign-On (SSO) via SDK, allowing users to access Ria’s services directly from your platform with minimal friction. Ria handles everything from compliance and transaction processing to global delivery, making it ideal for businesses that want to add remittance functionality quickly and efficiently.
If your platform requires more control over the user experience, we also offers a customizable API integration. This option allows you to embed cross-border money transfers directly into your app or website, giving you full ownership of the customer journey.
While this route involves more technical development, it offers greater flexibility in terms of branding, user flow, and feature customization. It’s a strong fit for platforms that want to maintain a cohesive experience and have the resources to support a deeper integration.
How to Get Started with Ria’s API
Getting started is simple. Interested platforms begin by submitting a short form to Ria, outlining their business and goals.
From there, our team works closely with you to determine the best integration path and guide you through the onboarding process. Whether you choose the turnkey hosted solution or the API route, we provide the tools, support, and global infrastructure to help you launch and scale successfully.
By offering these two integration models, we can ensure that platforms of all sizes and technical capacities can embed money transfer services in a way that aligns with their business strategy. Whether you’re looking for speed, flexibility, or full control, Ria’s partnership approach makes it possible to monetize smarter with embedded remittance.
Real-World Use Cases: Who’s Winning with Embedded Remittance
Across industries, platforms are already seeing success with embedded remittance and payments. SaaS providers offering payroll or HR services for migrant workers are using our API to enable direct transfers from paychecks to families abroad. This not only adds value for users but also creates a new revenue stream for the platform.
Marketplaces with international sellers or freelancers are embedding money transfer features to help users manage earnings across borders. By keeping financial transactions within the platform, they improve user experience platform loyalty.
Fintechs serving remittance-heavy communities, such as diaspora populations, are integrating Ria’s API to offer fast, affordable, and secure transfers. These platforms benefit from our global reach and compliance infrastructure, allowing them to scale quickly without regulatory headaches.
In each case, Ria’s API fits seamlessly into the platform’s ecosystem, providing the tools needed to offer remittance as a feature while driving growth and differentiation.
Monetize Smarter with Ria’s Embedded Remittance API
Embedded finance is no longer a trend—it’s a strategic tool for growth. Platforms across industries are discovering that integrating financial services like remittances directly into their user experience drives engagement, loyalty, and revenue.
We makes this easy for you. With coverage in 200 countries and access to over 630,000 payout locations, 7.3 billion bank and mobile wallet accounts, and 4 billion Visa debit cards, Ria offers the infrastructure and flexibility needed to embed money transfers at scale. Whether you choose the turnkey hosted solution for speed or the customizable API for control, our integration options fit seamlessly into your platform.
It’s the integration of money transfer services directly into non-financial platforms, allowing them to be monetized.
How do platforms make money from remittance services?
Through transaction fees, FX spreads, and increased user retention.
Is it hard to integrate Ria’s global money transfer API?
Not at all! Ria offers developer support and flexible integration options to embed its services into other platforms.
What industries benefit most from embedded remittance, or remittance as a feature?
SaaS, fintech, marketplaces, gig economy platforms, and payroll providers. These industries may benefit from improved user loyalty, additional revenue streams and better organized workflows, among others.
What makes Ria’s API a good choice?
Global reach, compliance, fast transfers, and customizable integration models.
Senegal houses many wonders such as a village made of seashells, a pink lake called Retba, and jollof rice. So, it is no wonder the West African country is also home to over 270,000 international immigrants.
Dakar, the country’s capital and socioeconomic focal point, is a popular hub for migrant workers. However, this trend has flipped in the past 30 years due to economic adversity, with Senegalese citizens now being the ones to migrate.
Yet, the Senegalese are resourceful people, currently fighting back deforestation with agroforestry and poverty with remittances.
Senegal’s relationship with immigration
With the median age estimated at 17.8 years (against a global value of 30.3), a case could be made that Senegal counts with a solid incoming workforce. Yet, the dire economic circumstances and limited job opportunities have left the dependency ratio at 81.55%, meaning almost the entire population depends on somebody else financially.
The search for better job opportunities is one of the main motivations for Senegalese migrants. Deforestation has displaced many, as more than 50% of citizens live off the land in rural areas.
As to be expected, France is a popular destination for migrants of their former colony, with Marseille becoming a Senegalese hub thanks to the many who joined the French colonial army and later found work in the city.
Other popular choices for migrants are Italy and Spain, for their job opportunities in agriculture and hospitality, the United States, and neighboring countries in West Africa.
Even though approximately 4-5% of the Senegalese population has left their home country in search of something more, immigrants still find opportunities around Dakar. The vast majority of them (87.8%) come from sub-Saharan Africa, but smaller groups also come from France, North Africa, and the Middle East.
The impact of remittances in Senegal
In 2021, Senegal received an estimated US$2.66 billion in remittances, representing 9.6% of the country’s GDP.
The impact of remittances in poverty reduction and socioeconomic development can be life-changing for families and communities. Remittance-receiving households in Senegal have a significantly increased income compared to those who don’t receive funds from abroad. These contributions are important given that, according to data compiled by the UN’s International Fund for Agricultural Development, 70% of remittances are used for current expenses (including health and education), around 20% for expenses linked with production (like agricultural supplies and commerce) and the rest for social events and savings.
Boosting diaspora engagement has become a priority for the Senegalese government, which is promoting new policies to incentivize people living abroad to invest in the country and its private sector and finance infrastructure needs.
Countries in Sub-Saharan Africa need better access to remittance services, and this can only be accomplished if competition is encouraged in the region. Exclusivity deals restrict the number of providers, increasing prices and hindering the reach of remittances.
Ria’s presence in Senegal
Malick Seck, Ria’s Managing Director for Africa, is a forerunner and advocate for sustainable remittance services in his native Senegal. Based in our Dakar hub, Malick travels the world spreading his passion for financial inclusion and development in Africa.
“Senegalese people, like their African brothers, are economic warriors. They are the ones pushing for change, boosting the country’s economy and bringing business back to Senegal,” Malick shared. “As managing director, I focus on the fight against exclusivity deals and looking for innovative ways to connect Africans with their loved ones, especially those who live in remote areas and have limited access to financial facilities.”
In Senegal, Ria partners with Ecobank, La Poste, Banque Atlantique and others to make sending and receiving money even easier for our customers. Customers that can’t access a physical Ria location and prefer digital payments can easily send money from our Ria app to an Orange Money wallet in Senegal. It’s fast, simple, and secure, like all our services.
Do you need to send money to or from Senegal? You can use our web, app, or visit your nearest Ria location.
Sending money internationally should be simple—but sometimes, things don’t go as planned. Maybe you entered the wrong account number, your bank declined the payment, or the transfer was flagged for review. Whatever the reason, seeing your international money transfer canceled or rejected can feel stressful.
The good news? Resolving the issue is usually straightforward.
Common Reasons Why a Money Transfer Gets Canceled or Rejected
If you’re wondering, “Why was my money transfer canceled?” here are the most common causes:
Incorrect recipient details – A misspelled name, wrong account number, or invalid mobile wallet ID can lead to a rejection.
Compliance or security checks – To protect customers and meet international regulations, transfers may be paused or canceled for additional verification.
Exceeded sending or receiving limits – Going over daily, monthly, or per-transaction limits can cause a transfer to fail.
Payment issues – Declined cards, insufficient funds, or expired payment methods are frequent reasons for cancellation.
Receiver-side issues – The recipient’s bank account may be closed, their mobile wallet inactive, or the cash pickup location unavailable.
Technical errors – Network downtime or mismatched systems between banks and providers can also interrupt a transfer.
How to Find Out Why Your Transfer Was Canceled or Rejected
When your money transfer is rejected, the first step is finding out why:
Check your email or app notifications – Ria provides updates explaining transfer status.
Track your transfer online – Use the Ria website or app to see real-time updates.
Confirm recipient details – Ask your recipient to verify their account or wallet information.
What Happens to Your Money If a Transfer Is Canceled or Rejected
Worried about your funds after a canceled money transfer? Here’s what you need to know:
Refund process:
If your payment wasn’t processed (e.g., declined card), you won’t be charged.
If the payment went through but the transfer was canceled later, a refund for your money transfer will be issued to your original payment method.
Refund timelines:
Debit/credit card: Usually 3–10 business days (depending on your bank).
Bank account: Refunds may take a bit longer.
Cash payments: Refunded at the sending location.
Steps to Take Next
Here’s what you should do if your money transfer is canceled or rejected:
Double-check recipient information – Confirm spelling, account numbers, and mobile wallet IDs.
Check your payment method – Ensure your card or bank account is valid and has sufficient funds.
Review transfer limits – Make sure your transaction is within Ria’s limits for your region and payment type.
Resend the transfer – Once corrected, you can try sending again.
Contact Customer Care – If you’re stuck, our team can provide quick assistance.
How to Avoid Cancellations in the Future
Preventing a rejected international money transfer is often as simple as double-checking the details. Here’s how:
Review details carefully – Even small errors can cause cancellations.
Use saved recipients in the Ria app – Reduces mistakes and saves time.
Know your sending and receiving limits – Stay within allowed amounts.
Update your payment methods – Replace expired cards or closed accounts.
Send early – Give yourself extra time in case adjustments are needed.
FAQs
Will I be charged a fee if my money transfer is canceled? No. If your transfer is canceled, both the amount and the transfer fee are refunded.
What if my refund is delayed? Refund timelines depend on your payment provider. If you don’t see your refund within 10 business days, contact Ria with your transaction number.
Can the recipient still collect money after a cancellation? No. Once the transfer is canceled, the funds are reversed and can’t be picked up.
Ready to try again? Log in to the Ria app or website and send money safely and confidently today.
▪ Financial self-care empowers remittance senders to support loved ones sustainably.
▪ Budgeting and tracking expenses are essential tools for financial wellness.
▪ Set clear financial boundaries with your family to avoid stress and burnout.
▪ Diversify income with low-stress side hustles to boost financial stability.
▪ Plan for the future through savings, retirement planning, and investing.
▪ Choose the right money transfer service for cost-effective and secure remittances.
The Importance of Self-Care for Remittance Senders
Each year, millions of migrant workers send money back home to support their families. These funds have the power to significantly improve the lives of countless households. Even small amounts can make a big difference, helping cover basic expenses and paving the way for a better future.
Sending money home is a powerful act of generosity creating opportunities that ripple across generations. But it’s also important to take care of your own financial health. Constantly making sure you have enough to send can become stressful, especially if your income is tight or unpredictable.
That’s where financial self-care comes in. Caring for your finances allows you to keep helping others in a sustainable way without hurting yourself in the process. If you’ve ever wondered “how do I take care of myself financially?” this post is for you.
The short answer? Financial self-care starts with a plan. Through money management tips and advice, we will explore strategies that will help you stay financially healthy while helping others.
The Fundamentals of Money Management
What is money management? This financial term essentially refers to the act of organizing your money. This will enable you to understand and take control of your financial situation, eventually improving your financial health.
Basic Knowledge and Tools
Step 1: Track your spending. Use a spreadsheet or budgeting app to see where your money goes each month. This helps you spot problems, if there are any, and plan better.
A good and easy way to begin is by making a table on Microsoft Excel or Google Sheet. If you don’t know where to start, you can use this template and adjust it according to your needs. There are also plenty of websites and apps offering free and paid plans to help you track spending and set financial goals.
Step 2: Create a budget. For those who are wondering “how do I budget for sending money to my family?”, the answer is: the same as everyone else! It’s that easy, because your budget should be tailored to your lifestyle.
In your budget, create categories for your expenses to know how much of your income you need to dedicate to each of them, including one for remittances:.
▪ Needs: Cover the essentials such as rent, utilities, and food. ▪ Wants: Dedicate some funds to non-essentials like entertainment or dining out. ▪ Emergency fund: Save for unexpected costs like car repairs or health problems by building an emergency fund. ▪ Debt: Set money aside specifically to pay back your loan (if you have taken one out), and look into some debt repayment strategies that work for you. ▪ Others: Create other categories that fit your spending habits, such as remittances, donations, gifts, etc.
The important thing is to make sure you’re covering your own needs first, especially the essentials, otherwise you won’t be able to properly help others. That’s the reason why you’re supposed to put your own oxygen mask first before helping others on a plane.
Tracking your spending and budgeting will help you stay aware of your spending patterns and know how to allocate money so that you’re always covered. Then you can decide how much to send each month without putting yourself at risk.
Setting Healthy Boundaries
At the same time, it’s important to set healthy financial boundaries so your support to others doesn’t jeopardize your safety. Transparent conversations are key, especially if your financial situation ever changes. Because if your income drops or your expenses rise, you will have to adjust your budget, including the funds that you send back home.
By being clear about what you can give, you ensure that your support remains sustainable and truly beneficial for everyone.
Here are some tips for setting boundaries and fostering a healthy relationship when it comes to finances and family:
▪ Be honest about your financial situation. ▪ Communicate clearly to avoid misunderstandings. ▪ Let loved ones know what you can and can’t afford. ▪ Offer non-financial help such as useful resources or help with financial planning. ▪ Reach out to a support system (friends, communities, or professionals) to get advice and assistance.
Setting boundaries and protecting your financial health is not selfish, it’s strategic and allows you to keep giving over the long term. And once your giving is sustainable, the next step is planning ahead, so your savings and investments can help you continue supporting family for years to come.
Next, we’ll share tips to grow your wealth, helping you ensure a stable future for yourself and your loved ones.
The Long Haul: Building a Future for You and Your Loved Ones
Studies show that financial security reduces stress and improves mental health. Putting your financial stability first isn’t just about your own peace of mind: it also gives you the freedom to keep helping the people who count on you.
If you ever find yourself able to set some funds aside, consider putting them towards building a more secure future. Think of it not only as financial self-care, but also as a way to strengthen your ability to share more confidently with loved ones.
Whether it’s saving steadily, preparing for your retirement, or making your money grow through smart investments, planning ahead ensures that your generosity can last for the long haul.
Boosting Your Income Without Burning Out
Of course, each situation is different, and often extra funds are hard to come by. If you’re looking for ideas to grow your income streams, here are some low-stress alternatives:
▪ Freelance consulting: Share your expertise and help others solve problems. ▪ Online tutoring: Teach subjects you know well and set your own hours. ▪ Pet sitting or dog walking: Stay active while earning in a flexible and enjoyable way. ▪ Become a money transfer agent: If you already run your own business, you can offer money transfer services to your community by becoming a Ria agent.
Always be cautious with “get rich quick” schemes. If it sounds too good to be true, it usually is. Focus on gigs that fit your skills, lifestyle, and long-term goals.
Plan for Retirement
Speaking of long-term goals, let’s talk about retirement. It may feel far away, but the earlier you prepare, the easier it becomes. A helpful starting point is to save around 7% of your income whenever possible, a technique famously known as the “7% rule” in finance. Think of it as paying your future self.
And remember, you don’t need a large salary to build a meaningful safety net, what matters most is consistency and patience. Even small, consistent contributions can grow over time.
Step Into Investing
If you ever find yourself with extra money after covering essentials and saving for retirement, investing can be a smart next step. Start simple: consider low-risk options such as savings accounts with good interest rates, designed to spread out risk and grow steadily over time.
You don’t need to be an expert to start, but you should make sure you understand the terms and risks before committing to anything. Read up on investing fundamentals for helpful tips.
And remember, acquiring financial stability doesn’t just benefit you, it also to strengthens your ability to support loved ones when they need it most.
Smarter Remittance Sending
Now that we’ve covered what financial self-care is —including examples and strategies— we’ll be looking at the best ways to send remittances so that you and your loved ones can make the most out of your funds.
Specialized money transfer services like Ria offer a wider variety of payout methods, lower fees, and better speed while staying just as reliable and secure as traditional banks.
The best choice for you will depend on your corridor (the countries you’re sending from and to). Here are a few things to look at:
▪ Fees and exchange rates: A low fee isn’t always the cheapest option if the exchange rate is poor. ▪ Speed and reliability: Some transfers are instant, while others may take a few days. ▪ Payout methods: Check whether your loved ones prefer cash pickup, bank deposits, or mobile wallets. ▪ Accessibility: Make sure there are nearby locations or digital options that are convenient for you and your family.
Choosing the right provider ensures that your hard work translates into real impact for your family while keeping the process safe and simple. It will allow you to focus on what truly matters: caring for yourself while continuing to support the people you love.
Financial Self-Care for Global Givers
Sending money home is a powerful act of kindness and connection, but to keep giving, you must also take care of yourself. How to practice financial self-care can take different forms for everyone, but budgeting wisely, setting healthy boundaries, and ensuring your own financial stability is always a good starting point.
When you care take care of your finances, you’re ensuring that your support for loved ones can continue to grow and create lasting impact. Thriving while you give is the foundation that makes true generosity possible.
At Ria, we understand that every transfer carries love, sacrifice, and hope for a better future. Our goal is to make it easier for you to send support in a fast, secure, and accessible manner—so you can take care of yourself while continuing to lift up the people who matter most.
What is financial self-care for remittance senders?
Financial self-care means managing your money in a way that allows you to support others without compromising your own financial stability. It includes budgeting, saving, setting boundaries, and planning for the future.
How can I budget for sending money to my family?
Start by tracking your monthly expenses and creating a budget that includes a dedicated category for remittances. Make sure your essential needs are covered first, then allocate funds for giving.
What are some low-stress ways to increase my income?
Consider side gigs that fit your skills, lifestyle, and long-term goals. It can be something like freelance consulting, online tutoring, pet sitting, or becoming a money transfer agent. These options offer flexibility and can help you increase income streams without burning out.
Why is it important to set financial boundaries with family?
Setting boundaries helps prevent financial strain and ensures your support remains sustainable. Clear communication about what you can afford builds trust and avoids misunderstandings.
How much should I save for retirement?
A good starting point is the 7% rule—aim to save 7% of your income consistently. Even small amounts can grow over time and provide long-term security.
What are the best ways to send money internationally?
Use specialized money transfer services that offer competitive fees, favorable exchange rates, and multiple payout options like cash pickup, bank deposit, or mobile wallets. Choose a provider that suits your corridor and your family’s needs.
How does financial stability help me support my loved ones?
When your finances are secure, you can give confidently and consistently. Financial stability reduces stress and allows you to plan for long-term support.
In today’s rapidly evolving and ever digitalized world, keeping data protection in top of mind is both necessary and essential for all companies, and at Ria it’s no different.
Although data protection laws and principles are commonplace nowadays, we still take it very seriously because of the industry we are in. That’s why data protection is more than just a buzzword for us: We strongly believe in privacy as a right, honoring it and ensuring that we do the correct thing.
So, how does Ria protect customer data?
What is Customer Data Protection and Why is it Important?
Customer data protection is the practice of securing personal information that businesses collect from their customers from unauthorized access, misuse, or loss. Names, contact details, financial information and behavioral data can all be considered personal information and limit access to sensitive data or information.
Using frameworks like GDPR and CCPA as guides, companies, including Ria, protect customer data through a combination of encryptions to secure data. For example, companies can conduct regular audits to identify vulnerabilities and ensure compliance, secure data storage with robust protocols, and limit access to sensitive information.
In the end, being compliant with personal data protection involves a strategic blend of technology, internal policies, and employee awareness to ensure that customer data remains private, accurate, and safe throughout its lifecycle.
The Growing Importance of Customer Data Privacy
As more of our activities become digital, data privacy is growing in importance. Customers are also becoming more aware of its significance as their information is available in more places.
There is growing importance in customers’ data privacy and it has become an expectation: businesses must adhere to strong data protection principles to retain these customers. According to McKinsey, customers who do not trust companies to handle their data will respond positively to those businesses that treat their personal data in the same way they would.
In order to keep these vital measures in check, companies have to appoint a Data Protection Officer (DPO) whenever personal data is involved. Acting independently, DPOs tend to report directly to the highest level of management and collaborate across departments to ensure proper privacy integration into a business’ operations. Through their DPOs, companies like Ria can help protect customer information by developing key steps, including multi-factor authentication (MFA); conduct regular security audits; train employees on privacy awareness; and ensure transparency. This will help meet compliance requirements and build lasting customer trust.
Security Starts Within: How Ria Protects Your Data
Compliance in Action: Ria’s Regulatory Roadmap
At Ria, compliance is an important priority. We take a proactive, global approach to data privacy by aligning with recognized standards and customer data protection acts across our operations. Our adherence to the GDPR, the toughest security and privacy law in the world, reflects our ongoing commitment to safeguarding personal data.
Wherever Ria does business, we apply rigorous data privacy principles to comply with other regulations, such as the California Consumer Privacy Act (CCPA), Gramm-Leach-Bliley Act, and more. Following these well-defined, established data privacy laws ensure consistent, top-tier protection and trust for all our clients and partners around the globe.
Ria is also ISO27001 certified, the world’s standard for information security management systems (ISMS), which promotes a holistic approach to information security, meaning that we have the mechanisms in place to deal with the risks associated with data owned or handled by Ria.
With a dedicated team of certified privacy experts that act with total independence, at Ria we make sure to verify that all data processing is done fairly and in accordance with the law. We stay ahead of emerging threats by improving our research and monitoring of the regulatory landscape and collaborating with experts to elevate our standards.
At Ria, we believe that every employee plays a vital role in protecting data. That’s why we offer training that empowers them to become data guardians, so that they don’t just follow company policies, but embrace a culture of responsibility and ethical data practices.
This mindset shift helps foster a workplace where privacy and integrity are shared values, helping us grow stronger together while protecting customers.
AI-Powered Protection & Innovation in Cyber Defense
As with many areas of our lives, Artificial Intelligence (AI) is finding its place in the cybersecurity world, becoming a useful, go-to tool. As it evolves in its capacities and grows in its scope, AI is slowly being integrated into data protection processes, as well as unlocking innovation in the cyber defense world.
In their paper on Artificial Intelligence and fraud prevention, Oluwabusayomi Adijat Bello and Komolafe Olufemi explained that thanks to AI and machine learning suspicious activity is easier to detect and block despite growth in fraud tactics.
For example, supervised learning methods, like so-called decision trees and neural networks, help identify fraud by learning from past cases. These models evaluate factors like transaction time, location, and flag anomalies from large datasets.
Moreover, unsupervised learning also helps spot and uncover new fraud types by identifying transaction data that does not match expected behavior.
These powerful AI monitoring systems help track potential fraud in real time and even before it can take place, sending near-instant alerts and allowing teams to act swiftly by freezing accounts or blocking transactions.
At Ria, we have a specialized team tasked with combating fraud, both in the development of our own AI models as well as those of third parties.
But, of course, AI-powered fraud detectors must also protect user data. Bello and Olufemi’s report also cites the importance of end-to-end encryption and compliance with privacy laws such as GDPR and CCPA. End-to-end encryption and tokenization also ensure that customer data, such as personal and financial information, remain secure. It also ensures that personal and financial information remains secure during analysis and transmission, helping companies strike a balance between security and privacy.
Why Your Data Is Safe with Ria
Data protection starts with transparency. That’s why at Ria we make it simple for you to understand how your how your information —such as details needed for a money transfer—are collected, used, and safeguarded through our Privacy Policy. Beyond disclosures, we empower you to stay in control with straightforward access to your privacy preferences and clear guidance on how to exercise your data rights. And if you ever need support, our teams are ready to assist.
At Ria, our privacy approach is built on a strong belief in legal compliance and a commitment to putting individuals first, only ever disclosing data under very specific instances where there is a legal mandate. We’re transparent in our notices and always available to help—responding to over 200,000 customer questions since 2018 without ever compromising our standards is a clear example of that.
Our values guide how we protect your information with robust safeguards as detailed in our Security Overview. They also shape our strict adherence to global compliance frameworks like AML, ATF, OFAC, and GDPR, which can be furthered explored in our Compliance Guarantee.
Japan is an archipelago located in the Pacific Ocean with a rich history and a myriad of unique traditions. It is home to millions of people, including many foreigners who choose to settle down there. According to 2024 data, 3.4 million international migrants are living in Japan, likely attracted by the country’s strong economy and good quality of life.
Many of those who move to Japan maintain deep ties with family and loved ones back home. For these migrants, supporting relatives from afar often means sending part of their earnings to them. These money transfers, known as remittances, play a vital role in helping households, communities and even entire countries.
In this post, we’ll take look at the history of Japan, migration and remittances.
A Brief History of Japan
Japan has always been characterized by its very strong identity, culture, and customs. The country’s long history has seen the rise and fall of powerful clans, emperors, and military rulers known as shoguns.
By the 12th century, most of Japan’s contact, trade, and conflicts were with neighboring countries such as China and Korea. But that was all about to change. In the 16th century, European influence reached the archipelago. Portuguese traders and Jesuit missionaries travelled to Asia and stopped in Japan, initiating a commercial and cultural exchange with them.
However, a new isolationist policy saw the country close its doors to the outside world for two and a half centuries. This allowed Japan to cultivate its distinctive art, literature, and culture without external influences. The isolationist policy ended in the mid-19th century, when Japan opened for trade following North American pressure.
This event kickstarted the Meiji Restoration, a historical event named after Emperor Meiji. It refers to the changes in Japan’s society as the country industrialized, modernized its military, and adopted Western systems. These changes led the archipelago to become a strong regional power, becoming involved in international geopolitical events, and eventually participating in the Second World War.
After its defeat at the hands of the United States in 1945, the country started rebuilding. It saw rapid growth, and quickly became one of the world’s leading economies, expanding its influence all over the globe. Today, you have probably driven a Japanese car, had a Japanese phone, or seen a Japanese anime or movie. Despite new challenges, like its aging population, the country remains deeply influential through its industry, technology, and culture.
The Context of Migration to Japan
For a long time, Japan was not considered a common destination for migrants looking for a place to settle down due to the archipelago’s secluded geographical location and its long-lasting isolationist policy that actively dissuaded immigration. So, when the country first opened up, most of the migrants came from close by, mainly China, Korea, and Taiwan.
But it all changes in the 1980s, when the government reformed immigration laws, introducing new programs for technical workers and trainees. Paired with the growing influence and popularity of Japanese culture, as well as its booming economy, these changes made Japan a highly attractive destination. Since then, immigration to the archipelago has been growing steadily.
Now, you’re probably wondering where do most immigrants to Japan come from today? Well, the Japanese Immigration Services Agency compiles data on this subject. While the top nationalities are neighboring countries (China, Vietnam, South Korea, Philippines, and Nepal), there are people from all over the world among the most common origins, such as Brazil and the United States.
Over the past 10 years, immigration has risen by 30.8%, now accounting for 2.8% of the total population. With low unemployment and a shrinking population, Japan has become increasingly dependent on migrants for its workforce. In fact, according to the OECD, 55% of the permanent migrants living in the country are there on a work visa.
As migration has grown, so has the amount of money sent home. In 2024, migrants in Japan sent more than USD $6 billion in personal remittances abroad, according to World Bank Remittance Data.
Understanding the Remittance Industry in Japan
The country’s remittance market is one of the most active in Asia. But how do migrants in Japan send money home?
People sending money from Japan can use traditional methods like bank transfers and wire services. While these are established, secure methods, they can also be slow and expensive. They generally charge higher fees and transactions can take 2-3 business days to go through. But there are better alternatives available.
This is where specialized money transfer services such as Ria make a difference. We serve as intermediaries, meaning that you can still send to or from a bank account, but with lower fees, competitive exchange rates, and a shorter wait, as money transfers are sometimes instant.
Companies like us are just as secure but offer faster, more accessible services, and a wider variety of options, including new technologies that are transforming the remittance market such as digital wallets —making money transfers faster, easier, and accessible.
But remittances are not just about moving funds. They’re also about promoting financial inclusion, stability, and growth in the communities that receive them, a point we’ll explore next.
Why Remittances Matter: Their Importance and Social Impact
Receiving remittances can make a huge difference for households, communities, and even entire countries, as they improve quality of life and generate economic growth.
The funds sent back home can help cover basic needs such as housing, food, or healthcare. They can also be used to cover the cost of education or to invest in a business opportunity, increasing financial stability and effectively helping break the cycle of poverty.
Families receiving remittances have more money to spend, whether on groceries or other needs, resulting in an influx of money in their community, which in turn boosts the economy.
Therefore, these funds have been proven to have a positive impact on every scale, helping reduce poverty, improve living standards, and strengthen economies.
The Future of Sending Money from Japan
Several factors can shape and change the future of remittances in Japan:
New labor and migration policies. Government rules on visas, skill requirements, and stay duration can directly influence the size of the migrant population.
Demographic changes. Japan’s aging and shrinking population means that migrant workers will remain essential for the workforce and continue moving there.
Compliance rules. Remittances are subject to guidelines and rules. Although this can affect the amount of money you’re allowed to send and how quickly it moves, it also adds security. These rules are here to help ensure your money is safe and reaches the right destination.
Money transfer corridors costs. While competition between money transfer companies is lowering fees in major routes, sending to remote areas can still be expensive. For instance, it costs on average 50% less to send money from Japan to the Philippines than to send money from Japan to India.
The good news is that competition between money transfer companies is bringing general and corridor-specific fees down. Ria actively works to maintain competitive fees and exchange rates in order to remain accessible and in an effort to align with the United Nation’s Sustainable Development Goal nº10.c, which seeks to reduce the global cost of migrant remittances to less than 3%.
These trends show that while the need and demand for remittances from Japan will remain strong, the way people send money and how much it costs will continue to evolve. That is why it’s important to keep up with changes and stay informed if you want to have a smooth money transfer experience.
More Than Just Money
Behind every money transfer is a personal story, one of sacrifice, opportunity, and connection. Migrants are not only filling critical roles in Japan’s economy, but they are also sustaining families and entire communities across borders.
At the same time, the remittance landscape is constantly evolving, shaped by policy decisions, technology, and demographics. As digital solutions become more popular, new platforms are cutting costs, speeding up transactions, and making services more accessible.
Ria is part of this change. With the acquisition of Kyodai Remittance, we are expanding our reach in the country. By offering fast, secure, and accessible transfer options, we seek to promote financial inclusion and empower the communities we serve.
If you need to send money to loved ones back home from Japan, you can use our web, app, or visit your nearest Ria location. Learn more about our services in Japan through the Kyodai website.
Sending money across borders comes with natural concerns. Will your transfer arrive safely? When will your recipient receive the funds? These questions matter because your money matters.
You have multiple ways to track your Ria transfer, and each transfer status tells a specific story about your money’s journey. Let’s walk through everything you need to know about tracking your transfers and understanding what each status update means for you and your recipient.
How to Track Your Ria Transfer
Tracking your money is simple—here’s how you can do it, whether you’re online, in the app, or in person.
Enter your Order Number (also called reference number or PIN) and your last name.
Click Track Transfer to instantly see the most recent update.
Tracking in the Ria App
Download the free Ria Money Transfer app for iOS or Android.
Log in using the account you used to send the money.
Tap Transfers to see a list of your recent transactions.
Select the transfer you want to track—your status and any next steps will be right there.
Tracking by Phone or in Person
By phone: Call Ria’s customer service line and provide your reference number. A representative can confirm the latest status.
In person: Visit a Ria store or agent location with your reference number and a valid ID.
Understanding Ria Transfer Statuses
When you track your transfer, you’ll see a status update. Here’s what each one means and what you might need to do.
Status
What It Means
What You Should Do
Processing
Ria has received your order and payment details; it’s being prepared.
Sit tight—no action needed unless it stays here unusually long.
In Progress
The transfer is moving through Ria’s system to the recipient’s delivery method.
Just wait; delays may occur due to bank hours, time zones, or security checks.
Ready for Pickup
Funds are available at the chosen cash pickup location.
Tell your recipient to bring a valid ID and reference number.
Deposited to Bank
The money has been successfully deposited into the recipient’s bank account.
Wait a few hours if it doesn’t appear right away—some banks take time to reflect deposits.
Delivered to Mobile Wallet
Funds are now available in the recipient’s mobile wallet.
Nothing—recipient can spend or withdraw instantly.
Completed
The transfer is fully processed and closed.
No further action needed.
On Hold
Ria needs more information or is reviewing the transfer for security/compliance.
Contact customer service to resolve the hold quickly.
Cancelled
The transaction was stopped by you, the recipient, or due to Ria’s rules.
Expect a refund within 3–10 business days depending on payment method.
Frequently Asked Questions About Tracking Ria Transfers
Can I track a transfer without a reference number?
No, you need either your order number, PIN, or reference number to track transfers. If you’ve lost this information, contact customer service with your personal details and transfer information for assistance.
Why is my transfer taking longer than expected?
Several factors can extend processing time: bank holidays in either country, additional security verification, incorrect recipient information, or high transaction volumes during peak periods.
What happens if my recipient can’t pick up the money right away?
Cash pickup locations typically hold funds for 30-90 days. Contact customer service if your recipient needs more time, as extensions may be possible depending on circumstances.
Can I change the delivery method after sending?
Generally, no. Delivery methods lock in when you submit your transfer. Contact customer service immediately if you need changes, though options may be limited once processing begins.
Send Money with Ria Today
Ria makes tracking your international money transfers simple and transparent. With multiple tracking methods and clear status updates, you stay informed every step of the way. Your recipient gets their money safely, and you get the peace of mind that comes from knowing exactly where your transfer stands.
Make a transfer now and enjoy peace of mind knowing your funds are on their way.
Recently, we were thrilled to announce that Kyodai Remittance is now officially part of the Ria Money Transfer family! Ria’s acquisition of Kyodai marks a major step forward in our mission to make money transfers more accessible, secure, convenient, and customer-focused—especially for the vibrant and burgeoning migrant communities in Japan.
But what exactly does Ria’s acquisition of Kyodai Remittance really mean and how can it help our money transfer service?
A Strategic Leap into Japan’s Remittance Market
Japan’s remittance market is one of the most dynamic in Asia, with over $6 billion sent abroad in 2024 alone. As migration patterns shift and labor markets evolve, the need for more reliable and inclusive financial services has never been greater.
Ria’s acquisition of Kyodai allows us to expand our footprint in Asia-Pacific by becoming the majority shareholder of Unidos, the company behind Kyodai Remittance. With this move, we’re not just growing our network—we’re deepening our commitment to the communities we serve.
Ria Money Transfer: A Global Giant with Local Ambitions
Ria has come a long way since our founding in 1987. Today, we operate in over 190 countries with more than 624,000 locations worldwide, and our services include everything from cash pickups and bank deposits to mobile wallets and cardless ATM withdrawals. Whether online, at our stores, or through our app, we’re focused on making money transfers convenient, secure, and easy.
Additionally, we’re also proud to be part of Euronet Worldwide, a global leader in payments processing and cross-border transactions. This confident backing allows us at Ria to innovate and scale our money transfer services to meet the evolving needs of our customers, especially in high-demand corridors, such as Japan to the Philippines.
But what truly sets us apart from the competition is who we are and what drives us: We were founded by migrants, for migrants. It’s a spirit that continues to guide everything we do.
Kyodai Remittance: Japan’s Trusted Name in Cross-Border Transfers
Kyodai Remittance has been a pillar of trust in Japan’s remittance landscape since its founding in 2000. As the first company in Japan to receive a Type 1 Funds Transfer Service Provider license, which they achieved in March 2023, Kyodai has led the way in offering high-value transactions over ¥1 million (about $6,800 USD).
Furthermore, with 17 stores, a strong agent network, and a multilingual team representing 16 nationalities, Kyodai has built deep ties with Japan’s migrant communities. Their “Family to Family” mission resonates deeply with our own values, making this partnership a natural fit.
What Ria’s Acquisition of Kyodai Really Means
A 15-Year Partnership Comes Full Circle
Ria and Kyodai have worked together for over 15 years, building a relationship grounded in mutual respect and shared goals. Ria’s acquisition of Kyodai is the culmination of that journey—a celebration of everything we’ve achieved together and a taste of what’s to come next.
What’s Changing and What’s Staying the Same
At Ria we’re integrating Kyodai’s operations into our global platform, which means customers will benefit from expanded services, improved pricing, and greater reach. But despite the changes, the current Kyodai team isn’t going anywhere. It’s important that their dedication, expertise, and customer-first approach remain at the heart of everything we do.
For example, take customers who regularly send money to the Philippines: this integration means more convenience and better rates. Whether you’re using Kyodai’s mobile app or using Ria’s money transfer services, sending money to loved ones has never been easier.
Why Japan? The Market That’s Ripe for Disruption
A $6 Billion Opportunity
Undeniably, Japan’s remittance market is growing rapidly, driven by a surge in labor migration. In 2022 alone, 144,000 new immigrants arrived in Japan, a 150% increase compared to 2021. Many of these migrants come from countries like Vietnam, China, and Indonesia. These demographic shifts are reshaping the economy—and, inevitably, the remittance sector.
Kyodai’s Local Edge Meets Ria’s Global Reach
Together, we’re combining Kyodai’s deep local knowledge with Ria’s global infrastructure. That means access to 44,000 ATMs across Japan, seamless mobile and digital services, and a network that spans 4 billion bank accounts and 3.2 billion digital wallets worldwide, making international remittances easier and more accessible.
Ria’s Vision for Asia-Pacific
Ria’s acquisition of Kyodai is just the beginning. We’re committed to expanding across Asia-Pacific, bringing new services, partnerships, and innovations to the region. Our goal is simple: to make financial services more inclusive, more convenient, and more human.
A Win for Financial Inclusion
At Ria, we believe that access to financial inclusion is fundamental for many people across the globe. By joining forces with Kyodai, we’re making it easier for migrant workers to support their families, build their futures, and stay connected across borders.
Whether you want to send money to Philippines, India, or Latin America, our now expanded network ensures that your money gets where it needs to go—quickly, safely, and conveniently.
We’re incredibly proud to welcome the Kyodai team into the Ria family—and even more excited about what this means for our customers.
With so many options available, it’s important to find a solution that’s fast, affordable, and secure. In this guide, we’ll walk you through the different ways to send money to Colombia, how much it might cost, how long it takes, and how to do it with Ria Money Transfer.
Ways to Send Money to Colombia
Choosing the right method depends on your priorities: speed, cost, or convenience. Here are the most common options available:
Bank Transfers
Traditional bank transfers offer security and reliability, making them a trusted choice for larger amounts. However, they typically come with higher fees and slower processing times.
How it works: Transfer funds directly from your bank account to your recipient’s Colombian bank account
Pros: Secure, reliable, ideal for high-value transfers
Cons: Slower processing (1-3 business days), higher fees, less favorable exchange rates
Specialized providers like Ria Money Transfer focus on international remittances. These services offer multiple payout options and competitive speeds, though fees vary based on your chosen method.
How it works: Send money online, through the Ria app, or at an agent location
Pros: Fast delivery (often within minutes), multiple payout options, competitive rates
Cons: Fees vary depending on payment and delivery methods
Digital Wallets
Digital wallets provide instant transfers for tech-savvy users. These services work well when both sender and recipient have compatible accounts.
Pros: Instant transfers, available 24/7, user-friendly interfaces
Cons: Both parties need digital accounts, transfer limits may apply
Debit Card Transfers
Services using Visa Direct or Mastercard Send allow direct deposits to your recipient’s debit card, offering speed and convenience.
How it works: Funds transfer directly to the recipient’s debit card
Pros: Fast processing (minutes to hours), convenient for recipients
Cons: Not all Colombian banks accept these transfers; verify beforehand
Cash Pickup Services
Perfect for recipients without bank accounts, cash pickup services let your loved ones collect funds at thousands of locations across Colombia.
How it works: Send money online or in-person; recipient collects cash at designated locations
Pros: No bank account required, widely available pickup points
Cons: Requires travel to pickup location, may involve additional fees
How Much Does It Cost to Send Money to Colombia?
Several factors influence your total transfer cost:
Payment method: Bank transfers typically offer lower fees than credit cards
Delivery method: Cash pickup, bank deposit, or debit card transfers each have different fee structures
Exchange rates: Rates fluctuate and vary between providers
Transfer amount: Some services offer better rates for larger amounts
With Ria, you can check exact fees and exchange rates before confirming your transfer using our rate calculator.
Example Cost Comparison:
Transfer amounts and fees vary based on current exchange rates and promotional offers. Always verify costs before sending.
How Long Does It Take to Send Money to Colombia?
Transfer speed depends on your chosen provider and payment method:
Fast Transfers (Minutes) : Many services, including Ria, offer transfers completed within minutes for cash pickup and some bank deposits.
Same-Day Transfers: Most online transfers process the same day when sent during business hours.
Standard Transfers (1-3 Business Days): Traditional bank transfers and some providers operate within this timeframe.
Factors Affecting Speed:
Time of day and day of the week
Payment method selected
Recipient’s payout method
Provider processing procedures
Step-by-Step Guide to Sending Money to Colombia with Ria
Ria makes international transfers simple, fast, and secure. Follow these steps:
Share this PIN with your recipient for cash pickups
8. Notify Your Recipient
Inform your recipient about the transfer details
For cash pickup, they’ll need valid ID and the tracking PIN
For bank deposits, funds appear directly in their account
FAQs About Sending Money to Colombia
Is it safe to send money online?
Yes, when using licensed, regulated providers. Ria uses advanced encryption, identity verification, and secure systems to protect every transfer. We’ve safely processed millions of transfers worldwide for over 35 years.
What is the cheapest way to send money to Colombia?
Generally, paying from your bank account and sending to a Colombian bank account offers the most cost-effective option, featuring lower fees and competitive exchange rates.
Can I send money to a debit card in Colombia?
Availability depends on the recipient’s bank and card type. Ria supports transfers to many Colombian debit cards through our network. Check with your recipient’s bank to confirm compatibility.
How much money can I send to Colombia at once through Ria?
Transfer limits vary based on your location, payment method, and recipient’s payout option. You’ll see exact limits when setting up your transfer. Larger amounts may require additional verification for security purposes.
Send Money to Colombia with Ria Today
Ria’s extensive network throughout Colombia, competitive rates, and multiple payout options ensure your money reaches its destination safely and quickly.
Depending on where you are in your career and in life, retirement may seem like a distant dream or an approaching reality. How much money do you need to retire comfortably? What are the different types of retirement plans? No matter your age or income level, to prepare for retirement is one of the most important financial journeys you’ll ever take.
The good news is that it’s never too early or too late to start preparing, planning and saving up for when you’re finished working. So long as you have the right mindset, attitude, tools and strategies, you can begin building a retirement plan that supports your financial security for the future.
Start with the Basics: Set Your Retirement Goals Early
Before diving into retirement savings plans and investment strategies, take a moment to envision your ideal retirement and figure out what kind of post-work life you want.
Do you see yourself moving back to your home country, traveling across the world to pastures new, starting a small business with friends or family, or simply enjoying a slower pace of life? It’s important to have a vision, as this will shape your goals and, consequently, your plan.
The first step is to understand and establish how much money you’ll need to retire comfortably. While many experts suggest aiming for 70–80% of your pre-retirement income, the actual number depends on your lifestyle, location, and health. Factors such as housing, healthcare or inflation will help you establish realistic savings goals.
It’s also important to consider your future retirement income sources. These may include Social Security, employer pensions, personal savings, rental income, or even part-time work. Knowing where your money will come from helps you plan more effectively.
Once you’ve outlined your vision, break it down into manageable milestones. So, whether it’s saving a set amount by a certain age or paying off your mortgage ahead of schedule, setting clear targets will help keep you motivated and stay on track.
Financial Tips to Prepare for Retirement on Any Budget
Contrary to what you might believe, you don’t need a high salary to build a strong retirement plan. What matters most is consistency and smart decision-making aligned with your budgeting. Start by tracking your current expenses and creating a budget that prioritizes saving. Even small contributions to a retirement account can grow significantly over time thanks to compound interest.
Finding the Right Plan to Prepare for Retirement
And understanding your investment options is key. Employer-sponsored plans like 401(k)s and 403(b)s offer tax advantages and often include matching contributions, and both are good starting points. They allow you to contribute a portion of your pre-tax income, thus lowering your taxable earnings that year. Moreover, employees offer matching contributions which help to boost retirement savings. These plans also tend to come with investment options, making them easier to manage.
Individual Retirement Accounts (IRAs), both traditional and Roth, provide additional flexibility. A traditional IRA allows you to defer taxes on the money you earn until you withdraw it when you retire, which can be beneficial if you expect to be in a lower tax bracket later in life.
Conversely, a Roth IRA enables you to fund your retirement with post-tax dollars, meaning that the withdrawals made in retirement are completely tax free, which is useful if you anticipate higher income or tax rates in the future.
Each plan has its own benefits, so choose the one that aligns with your income and tax situation.
Beyond these, consider other retirement investment options such as mutual funds, ETFs, bonds, and annuities. Further, annuities for retirement income can provide guaranteed payments for life, which may be appealing if you’re concerned about outliving your savings. Annuities are bought through an insurance company and tend to provide steady income immediately or in the future, depending on the type. While they do offer stability, they also are accompanied by fees and limited flexibility, so it’s important to understand the terms and conditions prior to committing.
Smart Tax Planning for Retirement
Social Security will also likely play a role in your retirement income, so it’s important to understand how it works in order to maximize your benefits. The full retirement age ranges from 62 to 70, depending on your birth year and country of residence. While you can start claiming and collecting benefits as early as 62, waiting until age 70 can significantly increase your monthly payments.
Don’t overlook tax planning—it’s a powerful tool when used right. Though saving and investing are vital, how and when you can access that money can significantly alter how much you get to pocket. That’s why diversifying your retirement accounts—some taxable, some tax-deferred, and some tax-free—can give you more control over your tax burden in retirement. A financial advisor or tax professional can help you create a strategy that minimizes taxes while maximizing income, essentially giving you more bang for your buck.
Also, consider what rate of return in retirement you’ll need to sustain your lifestyle. That just means thinking about how much your different incomes need to generate on a yearly basis to cover your expenses and without depleting your savings. It’s a critical facet of planning for your retirement, because small differences can make a huge impact.
A common rule of thumb is to aim for a 4–6% annual return once you retire, but this depends on your risk tolerance and asset allocation. By understanding your required rate of return and aligning it with a realistic investment strategy, you can better protect your savings and maintain your desired lifestyle throughout retirement.
Practical Retirement Planning Tips for Everyday Life
Financial planning is only one part of the equation. Your day-to-day lifestyle choices also play a big role in your retirement readiness. For many, downsizing to a smaller home or relocating to a more affordable area—especially if it’s no longer relevant to your job— can free up resources and reduce stress. Cutting unnecessary expenses now can help you save more for the future.
It’s also wise to build an emergency fund specifically for retirement. Aim to set aside six to twelve months of living expenses to cover unexpected costs like home repairs or medical bills. And speaking of healthcare, long-term care is one of the most underestimated expenses in retirement.
Prepare for Inflation and Healthcare Costs
Healthcare insurance for retirees (and the associated costs) is another critical consideration. Your health insurance may not cover everything, so explore supplemental insurance or health savings accounts (HSAs) while you’re still working.
Don’t underestimate the impact of inflation on retirement either. Even a modest 2–3% annual inflation rate can significantly erode your purchasing power over a 20- to 30-year retirement.
To stay ahead, make sure to include in your investments those that can outpace inflation, such as stocks or real estate, and consider options like Treasury Inflation-Protected Securities (TIPS). Planning for rising costs now helps you keep and grow your money’s value.
Remember that retirement isn’t just about money, it’s about how you want to live. Think about your social life, hobbies, and sense of purpose. Planning for these non-financial aspects can make your retirement more fulfilling and worry-free.
This is where retirement lifestyle planning comes in, ensuring your daily life aligns with your values, interests, and health needs.
Tools and Resources to Help You Prepare
Here’s an important retirement planning tup that is often overlooked: you don’t have to navigate the challenge of retirement planning alone. You could start laying the foundations by creating a checklist that includes your savings goals, investment reviews, insurance needs, and lifestyle plans. Moreover, by reviewing it annually you can be sure to never deviate from the path you’re on.
And if you need some extra assistance, there are also plenty of free tools available online to help you estimate your retirement needs, as well as track your progress. Platforms like Fidelity, Vanguard, SmartAsset, and AARP offer calculators, resources, and more planning tools that are free, easy to use and surprisingly insightful.
If your situation is complex or if you simply want the extra peace of mind, you can also consider working with a certified financial planner. While there’s a cost involved, the personalized advice of an expert can be well worth it, especially when it comes to tax strategies, estate planning, and managing withdrawals.
Managing retirement withdrawals is a key part of making your savings last. Strategies like the 4% rule, bucket strategy, or required minimum distributions (RMDs) can help you withdraw efficiently without running out of money.
And don’t forget legacy and estate planning. Creating a will, assigning power of attorney, and setting up trusts can ensure your assets are distributed according to your wishes.
Final Thoughts: Creating a Personalized Retirement Plan
Retirement planning isn’t a one-time task—it’s a lifelong process. As your life evolves, so should your plan. Ensure to make it a habit to review your goals and finances at least once a year. Stay flexible and be ready to adapt to changes in your health, family, or career.
Ultimately, the goal is to combine financial security with personal fulfillment. Whether that means traveling, volunteering, or simply enjoying more time with loved ones, your retirement should reflect your values and dreams.
This guide covers everything you need to know about using Ria Money Transfer for the first time. You’ll learn how the service works, what fees to expect, which countries you can send to, and how to make your first transfer smooth and secure.
What Is Ria Money Transfer?
Ria Money Transfer is a global money transfer service that operates in over 190 countries and territories worldwide.
We offer multiple ways to send and receive money, from digital transfers through our Ria app and website to cash pickups at physical locations. Ria serves both individuals sending money to family members and businesses managing international payments.
We have an extensive network of agent locations—over 500,000 worldwide. This means recipients can pick up cash in remote areas where traditional banks might not reach.
How Ria Works
Using Ria Money Transfer is straightforward. You have three main ways to initiate a transfer:
Online and Mobile App
Create an account on Ria’s website or download our mobile app. Enter your recipient’s information, choose how much you want to send, and select pickup or delivery options. Pay with a debit card, credit card, or bank transfer.
Physical Agent Locations
Visit any Ria agent location with cash and your recipient’s details. The agent will process your transfer and provide you with a receipt containing the tracking number.
Phone
Call Ria’s customer service to set up a transfer over the phone. You’ll need to provide payment information and recipient details.
The process follows these steps:
Provide your identification and recipient’s information
Choose your payment method and delivery option
Pay the transfer amount plus fees
Receive a confirmation number for tracking
Share pickup details with your recipient
Your recipient will need valid identification to collect the money, and they’ll need the tracking number you provide.
Payment and Delivery Methods
Ria offers flexible payment options to suit different preferences and situations.
Cash pickup: Recipients collect money at agent locations
Bank deposits: Money goes directly to recipient’s bank account
Mobile wallets: Transfer to digital wallet services where available
Home delivery: Available in select countries
Cash pickup remains the most popular option because it’s fast and accessible. Bank deposits take longer but offer convenience for recipients who prefer not to visit agent locations.
Fees, Exchange Rates, and Limits
Understanding Ria’s fee structure helps you make informed decisions about your transfers.
Transfer Fees:
Ria’s fees vary based on:
Amount being sent
Payment method used
Delivery method chosen
Destination country
Online transfers typically cost less than transfers made at agent locations. Paying with a bank transfer or debit card usually results in lower fees than using a credit card.
Exchange Rates:
Ria applies exchange rate margins to international transfers. The rate you receive will be less favorable than the interbank rate, and this difference represents part of Ria’s revenue. Rates fluctuate throughout the day based on market conditions.
Want to know how much your loved one will receive? Use Ria’s online calculator to check rates, fees, and delivery options.
Countries and Currencies You Can Send To
Ria operates in over 190 countries and territories, making it one of the most comprehensive international money transfer networks available.
Major Destinations Include:
Latin America: Mexico, Guatemala, Colombia, Ecuador, El Salvador
Asia: Philippines, India, Bangladesh, Vietnam, Thailand
Africa: Nigeria, Ghana, Kenya, Senegal, Morocco
Europe: United Kingdom, Spain, France, Germany, Italy
Safety and Security
Security is paramount when transferring money internationally. Ria implements multiple layers of protection for your transfers.
Regulatory Compliance:
Ria is licensed and regulated in the countries where it operates. In the United States, it’s licensed as a money transmitter in all 50 states. The company must comply with anti-money laundering (AML) regulations and know-your-customer (KYC) requirements.
Identity Verification:
You’ll need to verify your identity when creating an account or making transfers. This typically involves providing:
Government-issued photo ID
Proof of address
Social Security number or tax ID (where applicable)
Online account: Log into your Ria account to see transfer status
Mobile app: Track transfers on the go
SMS updates: Receive text notifications about transfer progress
Phone: Call customer service with your tracking number
Transfer Status Updates:
Processing: Your transfer is being prepared
Ready for pickup: Money is available at the pickup location
Delivered: Transfer has been completed successfully
Refunded: Transfer was cancelled and money returned
Keep your tracking number safe and share it only with your intended recipient. They’ll need this number along with valid identification to collect the money.
Customer Support and Help
Ria provides customer support through multiple channels to assist with questions and issues.
Verify your recipient’s full name matches their ID exactly
Confirm the pickup location is convenient for your recipient
Have all required documents ready for identity verification
Compare fees and exchange rates for different payment methods
During the Transfer:
Double-check all recipient information before confirming
Save your tracking number immediately
Take a photo of your receipt if transferring at an agent location
Note the expected delivery time
After Sending:
Share the tracking number and pickup details with your recipient
Monitor the transfer status online or through the app
Keep your receipt until the transfer is complete
Follow up if the transfer takes longer than expected
Security Best Practices:
Never share your account login details
Only provide tracking numbers to intended recipients
Use secure internet connections for online transfers
Report suspicious activity immediately
Making Your First Transfer Count
Your first international money transfer doesn’t have to be stressful. With Ria’s comprehensive network and multiple service options, you can send money with confidence, knowing it will reach your intended recipient safely and efficiently.
