Increased money transfers in the run up to Christmas…
Comment from Rajesh Agarwal, CEO & Founder of RationalFX and Xendpay.com:
Supporting our families and loved ones during Christmas is something close to all of our hearts – especially in times of an economic downturn. We can see this very clearly via the flows of money on our online money transfer service, Xendpay. Xendpay saw an 18% increase in money transfers in the first two weeks of December compared to the first two weeks of November and this trend has continued in the run up to Christmas and the New Year. December is turning out to be our biggest month ever. Top Christmas remittance corridors are to the Philippines and South America. European ex-pats such as the Spanish and French Diaspora residing in the UK, are also driving the better than expected growth in money transfers over this festive period.
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