New record for remittances

July 11, 2022

Dollar Money Transfers sent abroad amounted to US$4.367 billion from January to April this year. The figure is $1,286.76 million higher than in the same period in 2020. The figure is $1,286.76 million higher than in the same period in 2020.

March was the record month with the most remittances of the Bank of Guatemala (Banguat). US $1,285.6 million was reached. “We expect remittances to grow between 13 and 16% in 2021 and close the year at US$13billion. This is because of the substantial improvement in the Hispanic labor market in the United States,” Sergio Recinos, president of the entity, had told the media.

Currently, the cost of sending $100 to Guatemala ranges from $3.99 to $7.99. However, in order to help mitigate the effects of the pandemic, Bantrab has made the #Remesas Bantrab app available to workers residing in the United States to send money to their families in Guatemala.

The app allows the beneficiary to withdraw the money at the counter or receive a deposit into their Bantrab account. And for those who don’t already have one, the bank created a simplified account. That way, they will have the support of their relatives in the United States without leaving home.

If you need more information about APP Remesas Bantrab, visit

Family remittances boosting development

New record for remittances