December 6, 2024 • News and Promotions~MoneyGram Promotions
People around the world unite with family and friends during the holiday season to spend quality time together and give presents that bring joy. However, for the approximately one billion people globally that participate in remittance transactions, it can be difficult to travel back home and visit loved ones.
Yet in today’s digital world, there are many ways that we can connect with those whom we love – no matter the distance. At MoneyGram, we know that a money transfer back home is much more than a transaction – it’s a connection of love and support ❤️
This holiday season, we asked a handful of MoneyGram customers to share their remittance story, or “why they send back.” Below, we’ve highlighted some of the customer stories that warmed our hearts this year.
Providing Ongoing Support to Family and Friends
One customer shared their heartfelt story of sending money to support their niece’s college education in the Philippines. The young woman is currently pursuing a degree in financial accounting, a dream made possible partly due to a family member’s support from abroad. While they haven’t seen each other since 2010, the customer has been able to stay connected and provide for her future by sending money through MoneyGram.
“I feel very blessed that I am in the position to help pay for her education,” shared the customer. “I'm glad that she doesn't have to drop out of college due to financial issues. It has been tough, but I am doing my very best not to let her down.”
According to the MoneyGram “2024 State of Remittances report” (“SOR report”), 42% of U.S.-based consumers cite “ongoing support for family and friends” as a top reason for sending money abroad. Nearly 9 in 10 remittance consumers say that they feel closer to their loved ones when they can provide them with financial support.
One customer shared that he sends back to El Salvador via MoneyGram to support his loved ones’ education and expenses. Stories like this reflect the significant role remittances play in building brighter futures for families around the world.
The SOR report further underscores the impact of cross-border money transfers on lives around the world, finding that the most commonly reported uses for funds include covering food expenses (45%), managing emergency situations (37%), helping to boost their recipient’s financial confidence (37%) or helping to cover housing expenses (35%).
Giving Back to Loved Ones
One customer, a researcher in physical oceanography who lives in Alabama, shared that he sends money to his parents that live in India as a small gesture towards giving back, after all they have done for him throughout the years.
The SOR report also found that 81% of U.S.-based remittance consumers had sent money internationally to at least one family member; 28% reported sending to their mother and 21% to their father.
Making the Holiday Season Special
Nearly half of remittance consumers (46%) say they tend to send more money abroad during holidays and celebrations of loved ones. One customer, Fredie, is similar to those consumers and shared that he sends money home to the Philippines for his wife, son and extended family for a unique Christmas traditional.
“I always use MoneyGram to send as easily can be done with my smart phone which goes directly and immediately to her bank account,” shared Fredie. “MoneyGram makes it easy and fast for my wife to pick up the money and enjoy the Holidays there with our family.”
Connecting the World’s Communities
As these customers shared in their stories, MoneyGram is proud to make it simple to send money back to loved ones no matter the distance. Whether using the highly-rated MoneyGram® Money Transfers App or one of MoneyGram’s 440,000+ retail locations to send money, our customer enjoy the speed, low-cost and simplicity of MoneyGram’s international network.
This holiday season and every month in-between, we celebrated our customers who make a lasting impact on their communities and loved ones around the world.
All customers that are featured in promotional materials provided their consent for MoneyGram to share their story.