Finance Forum and the Consumer Council has launched Sendepengerhjem.no, an online service that makes it cheaper to send money to other countries.
"Send money home" (Sendepengerhjem) service compares the prices from a number of different players to different countries, and shows how you can transfer money cheaply. The service only uses information from legal and safe money transfer companies, and helps the consumer to ensure that the cheapest way to send money.
Sendepengerhjem.no was developed by the Finance Forum with the initiative of Environment and Development Minister, and is funded by the Ministry of Foreign Affairs and Children, Equality and Social Inclusion.
– Immigrants in Norway and Norwegians with immigrant background are sending large sums every year to friends and relatives in their homelands. For people in poor countries, this assistance helps to raise their living standards. They can afford to pay for food, medical services, or send their children to school, "said Environment and Development Erik Solheim.
Solheim also noted that the service will ensure easier and safer money transfer. This is important especially for poor countries where this money also helps to foster development and growth, "added Solheim.
The Largest Development Aid
There is no accurate figure about the amount of money transferred from Norway. However, globally immigrants from developing countries send 200 billion NOK dollars home each year. It is twice as much as all development assistance done by all aid organizations in the world.
– Sending money home service is an initiative that meets a need for a large and important group of consumers in Norway. While transfering money abroad, it is difficult to get an overview of what it actually costs. There is also a challenge to understand the information provided. Sendepengerhjem.no online service makes this much easier, and provides valuable information to people who send money, "said consumer minister, Audun Lysbakken.