18% Rise in Money Transfers to Greece From UK
Xendpay.com, the world’s first free money transfer service, has found money transferred via their service from the UK to Greece has risen by 18%, citing an increase in individuals based in the UK sending money back home to support their family and friends as money-flow in Greece continues tightened.
This latest sign of desperation in Greece comes as the Greek government has extended Bank closures and the 60euro daily limit on cash machine withdrawals until Monday. As the UK is the highest source of remittance outflow in the EU (IAFD, 2015), it is expected that, as the crisis continues to unravel, the UK will is a vital source for the Greek people to make ends meet.
Xendpay.com have transferred over $5 billion since its start up in 2012 and, now in the top 10, are the fastest growing money transfer service in the UK.