Citi Joins Caixa For Brazil Remittances

Citi Joins Caixa For Brazil Remittances

Brazil

Citi has teamed up with Brazil’s Caixa Economica Federal to tap into the flow of remittances from citizens living abroad, a flow of roughly $7bn a year. The new service, which will be available in H1 2009, is intended to boost remittances by expediting the process and reducing operating costs. “This process is in line with the policies of governments worldwide, including the Brazilian government, of encouraging the use of formal tools to transfer such resources,” says Citi, which has been

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