16 Apr 2018
Updated app provides simple, convenient way for people to move money to loved ones across borders.
08 Dec 2017
The global remittance market is slated to be at an all-time high in 2017, according to BBVA Research’s Yearbook of Migration and Remittances, and the U.S. has the lionshare of the market.
08 Nov 2017
Remittances remain a major, if not the largest, source of foreign revenue for Mexico. In 2016, the dollar volume for remittances to Mexico jumped 8.8% over the prior year and reached an all-time high of nearly $27 billion — about 95% of those remittances came from the U.S. The U.S.-Mexico corridor is one of the largest remittance sectors in the world, and four key influences are helping to further fuel its significant growth.
02 Nov 2017
BBVA’s new app-based service for remittances, Tuyyo, recently launched, focusing initially on the important U.S. to Mexico corridor, with an eye toward expanding service into other countries soon.
According to BBVA Research’s Yearbook of Migration and Remittances, that’s a good strategy as remittances, or the money sent by migrants to their home country, flows to and from many countries around the world, Mexico being just one, and not even the largest receiver among them.
25 Oct 2017
According to recently released BBVA Research data, people around the globe could send their loved ones up to $606 billion in remittances in 2017, which made us wonder. What are the elements that impact remittances when they are sent?
According to the Global Head of Tuyyo Ignacio de Loyola Gil Puértolas, remittance senders should be aware of two main elements: exchange rates and transaction fees. Exchange rates are the amount of foreign currency received for each dollar sent. Fees are the amount the sender pays to the service provider for transferring the funds.
19 Oct 2017
Recently released data from BBVA Research show that remittances are expected to reach nearly $606 billion globally in 2017, a 3.6 percent increase over last year and about a $213 billion increase compared to ten years ago in 2007. The global dollar amount of remittances is expected to rise 3.7 percent next year, indicating that funds being sent worldwide have no signs of slowing down. So, how are people sending money overseas and across borders?
16 Oct 2017
Sending money to friends and family just got faster, more convenient, and a lot more personal. A new online app-based (iOS and Android) service called Tuyyo, launching Monday and powered by BBVA, will upend the $73 billion annual market for remittances to Latin America and the Caribbean from the United States. Globally, the remittance market is set to exceed $600 billion this year and reach close to $629 billion in 2018.
21 Sep 2017
Dreamers are individuals who were brought to the United States before the age of 16 and who don’t have lawful immigration status. They’re pursuing the American dream. They came to the United States as children and many of them discovered as adolescents that they had entered the country without documents. They’re the “dreamers” – immigrants and, most of them children of immigrants who are trying to escape from their legal limbo.
02 Nov 2016
Fintech firms could be the saving grace for the U.K.’s financial sector, but greater complications to attract global talent could pose a serious problem. It all depends on the political negotiations.
14 Sep 2016
Mexico is one of the largest recipients of remittances in the world. In 2015 it received nearly $25 billion in remittances, the fourth highest in the world after India ($72 billion), China ($62 billion) and the Philippines ($30 billion).
01 Jul 2016
What connects a customer who is about to lose two million Mexican pesos (nearly 100,000 euros), soy milk, butterflies, and children who immigrate to the United States? One person. Her name is Amelia Aguilar and she is the manager of a BBVA Bancomer branch in Puebla, Mexico.