Remittance cost trends by funding method. See image description.

This graph shows the average cost of remittances by various instruments used to fund the transaction, from 2018 to 2020. The instrument types included are bank account transfers, cash, mobile money, and debit/credit card. The average cost for all but cash declined over the 2018 to 2020 time period. Across all three years, cash cost was highest, and mobile money cost was lowest. Remittances initiated with debit/credit cards saw their costs decline 21% over this period, putting these remittances on the best cost trajectory of the four types.