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Showing you how it works: new video about GeldtransFAIR.de

Using www.GeldtransFAIR.de is really easy all it takes is a few clicks to find out which provider offers the fastest and cheapest international money transfers. But what information does the remittances price comparison website provide exactly? What costs and conditions do you need to be aware of when transferring money abroad? Why is this service needed and what's behind it? All these questions are answered in a new three-and-a-half-minute video on GeldtransFAIR.de in German and English.

The CIM Sector Project on Migration and Development has been running this World Bank-certified website om behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) since 2007. It gives users a quick overview of current money transfer conditions to more than 20 countries. In this way, GeldtransFAIR.de is contributing to another, very different form of development cooperation. In 2014, migrants sent around USD 436 billion back to their countries of origin. The recipients use the money to pay for things like food, clothes, repairs, education and health care, or to invest in business, which indirectly supports economic growth in the country. However, too much of this money is lost seeping away through informal channels, theft and high or hidden transfer costs. As the fifth-biggest remittance-sending country, Germany promotes transparency and competition through the use of this portal.