What is the UN SDG target for remittance costs?

SDG 10.c targets reducing the average cost of remittances to 3% or less by 2030. As of 2023, the global average is approximately 6.2% for USD 200 transfers. Some corridors (US-Mexico via digital providers) average under 3%; Africa-Africa corridors average 8–9%.

Which corridors are most expensive for remittances?

South Africa to neighboring countries and Pacific island corridors are among the most expensive globally (10–15% average cost). Small market size, limited competition, and bank de-risking drive costs. Largest remittance corridors by volume (US-Mexico, UAE-India) have more competition and lower costs.

Remittance Corridor Cost by Destination

Compare total remittance cost (transaction fee plus FX margin) as a percentage of transfer amount across major corridors using World Bank Remittance Prices Worldwide data to identify cheapest providers.

Principal ($)

Annual Rate (%)

Years

Compounding / Year

$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How It Works

Each component has a specific meaning:

Major corridors — The major corridors recorded for the scenario being assessed.

Note: Interpret the remittance cost result against the thresholds and context described above.

How to Use

Enter the major corridors for the scenario you are assessing. Compare total remittance cost (transaction fee plus FX margin) as a percentage of transfer amount across major corridors using World Bank Remittance Prices Worldwide data to identify cheapest providers. Use the remittance cost result to inform your calculation.

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