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Posts Tagged ‘WEF’

With Western Union, I priced a ‘Money in Minutes’ online and agent money transfer of $1000 USD from America’s financial capital, New York City, to Iraq, and from New York City to Canada.

The service fee was only $19.99 from New York City to Iraq, but was $86.00 to Canada — 430% more.

Similarly, MoneyGram’s agent 10-minute money transfer fee for $1000 USD was only $16 from the U.S. to Iraq, but was $61 to Canada — 381% more.

This, despite Canada’s deep economic integration with the U.S. through NAFTA and the SPP, the world’s largest bilateral trading relationship among individual countries, their membership in the G-8 and G-20, being ranked #7 and #8 in economic freedom according to the Heritage Foundation, Canada having the soundest banking system in the world according to the World Economic Forum, and bigger economies of scale.

Previously, I wrote about how it’s cheaper to send a text message to Iraq than to the United States.

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