Money Transfers

09 Apr 2024

Fluctuations in challenges to money transfers between countries can significantly affect both access (getting in to, and sustaining access) to certain parts of the world, and evangelistic/disciple-making strategy selection.

Some of these challenges can include:

  • fluctuations in exchange rates that can reduce the value of money transferred in
  • transfer fees from banks and other services for international transfers, that eat away at what is sent
  • Compliance and regulation, for example with anti-money laundering laws and local regulations
  • the lack of local banking systems to transfer to or to store money in
  • some of these regions may have frozen assets or be under banking sanctions
  • some may not have sufficient local currency even available
  • fraud, corruption, monetary theft, fund misappropriation, etc
  • delays in processing transfers or gaining access to money on deposit in local areas.
  • when electronic transfers cannot be made, in-person transfers have to be effected, can be difficult
  • natural disasters and conflicts can introduce abrupt changes to what was moderately stable

One area that I have been particularly watching is increasing levels of anti-money laundering laws, for example between the US and certain countries in Western Asia. These sorts of things make it difficult to get money into the area, which means it’s likewise difficult to support workers in the area. If you see examples of this happening, especially with public articles about it, I’d love to see links - email justinlong@gmail.com.