The Market for Remittance Services in the Czech Republic : Outcomes of a Survey among Migrants
This survey was conducted by the World Bank Payment Systems Development Group, at the request of the Ministry of Finance of the Czech Republic, as a follow up to the World Bank-led mission that visited the country in 2008 to assess the market for r...
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| Format: | Publication |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20101116004008 http://hdl.handle.net/10986/2521 |
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okr-10986-2521 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS POINTS ACCESS TO BANK ACCESS TO BANK ACCOUNTS ACTUAL COST ACTUAL COSTS ADVERTISEMENT ADVERTISEMENTS ANNUAL INCOME ANNUAL INCOMES ANTI-MONEY LAUNDERING ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK PAYMENT BANK PAYMENTS BANK TRANSFERS BANKING SERVICES BANKS BARRIERS TO ENTRY BENEFICIARIES BEST PRACTICES BORDER PAYMENTS BUS DRIVERS BUSINESS OPPORTUNITIES CASH FLOWS CASH WITHDRAWAL CHECKING ACCOUNT CLEARING HOUSE CLEARING HOUSES COMMERCIAL BANK COMMERCIAL BANK BRANCHES COMMERCIAL BANKS COMPETITIVE MARKET COMPETITIVE MARKETS CONSULAR OFFICES CONSULTING FIRM CONSUMER CONSUMER COMPLAINTS CONSUMER PROTECTION CONSUMERS COOPERATIVES COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CREDIT CARDS CREDIT UNIONS CROSS BORDER CURRENCY CURRENCY EXCHANGE CUSTOMER SATISFACTION DAILY EXPENSES DEBIT CARDS DEPOSIT DEPOSIT ACCOUNTS DEVELOPING COUNTRIES DIRECT DEPOSIT DIRECT DEPOSITS DISBURSEMENT EFFICIENT MARKET EMIGRATION EMPLOYEE EXCHANGE RATE FAMILIES FINANCE KNOWLEDGE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGNS FINANCIAL LITERACY PROGRAMS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FLOW OF MONEY FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE BUREAUS FOREIGN EXCHANGE RATE FRAUD GENDER HOLDING HOME COUNTRIES HOME COUNTRY HOME CURRENCY HOUSEWIFE HOUSING ID ILLEGAL IMMIGRATION ILLEGAL MIGRATION INCOME INFORMAL CHANNELS INFORMAL TRANSFER INFORMATION DISCLOSURE INFORMED CHOICES INITIAL INVESTMENTS INSTRUMENT INSURANCE INSURANCES INTERNATIONAL BANK INTERNATIONAL REMITTANCE INTERNATIONAL STANDARDS LACK OF COMPETITION LACK OF TRANSPARENCY LANGUAGE BARRIERS LEGAL MIGRANTS LEGAL SYSTEM LOCAL CURRENCY LOW COST LOW COSTS MARKET CONDITIONS MARKET PLAYERS MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKETING MARKETING STRATEGIES MIGRANT ASSOCIATIONS MIGRANT COMMUNITIES MIGRANT WORKERS MIGRANTS MOBILE PHONE MONEY TRANSFER MONEY TRANSFER OPERATOR MONEY TRANSFER OPERATORS MORTGAGE MORTGAGE PAYMENTS NATIONAL BANK NEWSPAPER ADVERTISEMENT PAYMENT SERVICES PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS INFRASTRUCTURE PAYMENTS INFRASTRUCTURES PAYMENTS SYSTEM DEVELOPMENT PERMANENT RESIDENTS POST OFFICE POST OFFICE NETWORK POST OFFICES POSTAL SERVICE POSTAL SERVICES PUBLIC POLICY QUESTIONNAIRE QUESTIONNAIRES REAL ESTATE REFUGEE REGULATORY FRAMEWORK REMITTANCE REMITTANCE CORRIDORS REMITTANCE FLOWS REMITTANCE INDUSTRY REMITTANCE SENDING REMITTANCE SENDING COUNTRIES REMITTANCE SERVICE REMITTANCE SERVICE PROVIDERS REMITTANCE SERVICES REMITTANCE SYSTEMS REMITTANCE TRANSFER REMITTANCE TRANSFERS REMITTANCES REPO REPO RATE RESUME RISK MANAGEMENT SALARY SAVINGS SAVINGS ACCOUNT SEND MONEY SEND MONEY HOME SEND REMITTANCES SENIOR SOCIAL NETWORKS SPECIFIC REMITTANCE SPEED OF TRANSFER SUBSIDIARY TOTAL COST TRANSACTION TRANSFER METHOD TRANSFER METHODS TRANSFER MONEY TRANSPARENCY TYPE OF WORK UNEMPLOYED UNEMPLOYMENT UNION USERS OF REMITTANCE WIRE TRANSFERS WITHDRAWAL WORTH |
| spellingShingle |
ACCESS POINTS ACCESS TO BANK ACCESS TO BANK ACCOUNTS ACTUAL COST ACTUAL COSTS ADVERTISEMENT ADVERTISEMENTS ANNUAL INCOME ANNUAL INCOMES ANTI-MONEY LAUNDERING ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK PAYMENT BANK PAYMENTS BANK TRANSFERS BANKING SERVICES BANKS BARRIERS TO ENTRY BENEFICIARIES BEST PRACTICES BORDER PAYMENTS BUS DRIVERS BUSINESS OPPORTUNITIES CASH FLOWS CASH WITHDRAWAL CHECKING ACCOUNT CLEARING HOUSE CLEARING HOUSES COMMERCIAL BANK COMMERCIAL BANK BRANCHES COMMERCIAL BANKS COMPETITIVE MARKET COMPETITIVE MARKETS CONSULAR OFFICES CONSULTING FIRM CONSUMER CONSUMER COMPLAINTS CONSUMER PROTECTION CONSUMERS COOPERATIVES COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CREDIT CARDS CREDIT UNIONS CROSS BORDER CURRENCY CURRENCY EXCHANGE CUSTOMER SATISFACTION DAILY EXPENSES DEBIT CARDS DEPOSIT DEPOSIT ACCOUNTS DEVELOPING COUNTRIES DIRECT DEPOSIT DIRECT DEPOSITS DISBURSEMENT EFFICIENT MARKET EMIGRATION EMPLOYEE EXCHANGE RATE FAMILIES FINANCE KNOWLEDGE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGNS FINANCIAL LITERACY PROGRAMS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FLOW OF MONEY FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE BUREAUS FOREIGN EXCHANGE RATE FRAUD GENDER HOLDING HOME COUNTRIES HOME COUNTRY HOME CURRENCY HOUSEWIFE HOUSING ID ILLEGAL IMMIGRATION ILLEGAL MIGRATION INCOME INFORMAL CHANNELS INFORMAL TRANSFER INFORMATION DISCLOSURE INFORMED CHOICES INITIAL INVESTMENTS INSTRUMENT INSURANCE INSURANCES INTERNATIONAL BANK INTERNATIONAL REMITTANCE INTERNATIONAL STANDARDS LACK OF COMPETITION LACK OF TRANSPARENCY LANGUAGE BARRIERS LEGAL MIGRANTS LEGAL SYSTEM LOCAL CURRENCY LOW COST LOW COSTS MARKET CONDITIONS MARKET PLAYERS MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKETING MARKETING STRATEGIES MIGRANT ASSOCIATIONS MIGRANT COMMUNITIES MIGRANT WORKERS MIGRANTS MOBILE PHONE MONEY TRANSFER MONEY TRANSFER OPERATOR MONEY TRANSFER OPERATORS MORTGAGE MORTGAGE PAYMENTS NATIONAL BANK NEWSPAPER ADVERTISEMENT PAYMENT SERVICES PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS INFRASTRUCTURE PAYMENTS INFRASTRUCTURES PAYMENTS SYSTEM DEVELOPMENT PERMANENT RESIDENTS POST OFFICE POST OFFICE NETWORK POST OFFICES POSTAL SERVICE POSTAL SERVICES PUBLIC POLICY QUESTIONNAIRE QUESTIONNAIRES REAL ESTATE REFUGEE REGULATORY FRAMEWORK REMITTANCE REMITTANCE CORRIDORS REMITTANCE FLOWS REMITTANCE INDUSTRY REMITTANCE SENDING REMITTANCE SENDING COUNTRIES REMITTANCE SERVICE REMITTANCE SERVICE PROVIDERS REMITTANCE SERVICES REMITTANCE SYSTEMS REMITTANCE TRANSFER REMITTANCE TRANSFERS REMITTANCES REPO REPO RATE RESUME RISK MANAGEMENT SALARY SAVINGS SAVINGS ACCOUNT SEND MONEY SEND MONEY HOME SEND REMITTANCES SENIOR SOCIAL NETWORKS SPECIFIC REMITTANCE SPEED OF TRANSFER SUBSIDIARY TOTAL COST TRANSACTION TRANSFER METHOD TRANSFER METHODS TRANSFER MONEY TRANSPARENCY TYPE OF WORK UNEMPLOYED UNEMPLOYMENT UNION USERS OF REMITTANCE WIRE TRANSFERS WITHDRAWAL WORTH Nicolì, Marco Corazza, Carlo The Market for Remittance Services in the Czech Republic : Outcomes of a Survey among Migrants |
| geographic_facet |
Europe and Central Asia Europe Eastern Europe Czech Republic |
| relation |
World Bank Study |
| description |
This survey was conducted by the World
Bank Payment Systems Development Group, at the request of
the Ministry of Finance of the Czech Republic, as a follow
up to the World Bank-led mission that visited the country in
2008 to assess the market for remittances. This survey aims
at analyzing the main characteristics of the market for
remittances in the Czech Republic and should serve as a
guide for both public authorities and the private sector in
identifying possible actions to improve the efficiency of
the market. A total of 880 migrants from eight different
nationalities were interviewed during the summer of 2009 in
Prague. The nationalities selected represent the largest and
most important migrant communities in the country: China,
Moldova, Mongolia, Poland, the Russian Federation, the
Slovak Republic, Ukraine, and Vietnam. The following main
findings can be extracted from the analysis of the
survey's outcomes: i) a low level of transparency and
consumer protection can be observed in the market for
remittances in the Czech Republic. Senders are often not
provided with all the relevant information by the Remittance
Service Provider (RSP) at the moment of the transaction; ii)
the lack of transparency is confirmed by the analysis of the
cost as perceived by the interviewees, who do not generally
consider the margin applied by the RSP as a price component.
As a result, remittance senders are in general not aware of
the actual cost that they are paying for the service; and
iii) the market is dominated by Money Transfer Operators
(MTOs) and, in particular, some MTOs hold the great majority
of the market shares. |
| format |
Publications & Research :: Publication |
| author |
Nicolì, Marco Corazza, Carlo |
| author_facet |
Nicolì, Marco Corazza, Carlo |
| author_sort |
Nicolì, Marco |
| title |
The Market for Remittance Services
in the Czech Republic : Outcomes of a Survey among Migrants |
| title_short |
The Market for Remittance Services
in the Czech Republic : Outcomes of a Survey among Migrants |
| title_full |
The Market for Remittance Services
in the Czech Republic : Outcomes of a Survey among Migrants |
| title_fullStr |
The Market for Remittance Services
in the Czech Republic : Outcomes of a Survey among Migrants |
| title_full_unstemmed |
The Market for Remittance Services
in the Czech Republic : Outcomes of a Survey among Migrants |
| title_sort |
market for remittance services
in the czech republic : outcomes of a survey among migrants |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20101116004008 http://hdl.handle.net/10986/2521 |
| _version_ |
1764385584210509824 |
| spelling |
okr-10986-25212021-04-23T14:02:02Z The Market for Remittance Services in the Czech Republic : Outcomes of a Survey among Migrants Nicolì, Marco Corazza, Carlo ACCESS POINTS ACCESS TO BANK ACCESS TO BANK ACCOUNTS ACTUAL COST ACTUAL COSTS ADVERTISEMENT ADVERTISEMENTS ANNUAL INCOME ANNUAL INCOMES ANTI-MONEY LAUNDERING ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK PAYMENT BANK PAYMENTS BANK TRANSFERS BANKING SERVICES BANKS BARRIERS TO ENTRY BENEFICIARIES BEST PRACTICES BORDER PAYMENTS BUS DRIVERS BUSINESS OPPORTUNITIES CASH FLOWS CASH WITHDRAWAL CHECKING ACCOUNT CLEARING HOUSE CLEARING HOUSES COMMERCIAL BANK COMMERCIAL BANK BRANCHES COMMERCIAL BANKS COMPETITIVE MARKET COMPETITIVE MARKETS CONSULAR OFFICES CONSULTING FIRM CONSUMER CONSUMER COMPLAINTS CONSUMER PROTECTION CONSUMERS COOPERATIVES COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CREDIT CARDS CREDIT UNIONS CROSS BORDER CURRENCY CURRENCY EXCHANGE CUSTOMER SATISFACTION DAILY EXPENSES DEBIT CARDS DEPOSIT DEPOSIT ACCOUNTS DEVELOPING COUNTRIES DIRECT DEPOSIT DIRECT DEPOSITS DISBURSEMENT EFFICIENT MARKET EMIGRATION EMPLOYEE EXCHANGE RATE FAMILIES FINANCE KNOWLEDGE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGNS FINANCIAL LITERACY PROGRAMS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FLOW OF MONEY FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE BUREAUS FOREIGN EXCHANGE RATE FRAUD GENDER HOLDING HOME COUNTRIES HOME COUNTRY HOME CURRENCY HOUSEWIFE HOUSING ID ILLEGAL IMMIGRATION ILLEGAL MIGRATION INCOME INFORMAL CHANNELS INFORMAL TRANSFER INFORMATION DISCLOSURE INFORMED CHOICES INITIAL INVESTMENTS INSTRUMENT INSURANCE INSURANCES INTERNATIONAL BANK INTERNATIONAL REMITTANCE INTERNATIONAL STANDARDS LACK OF COMPETITION LACK OF TRANSPARENCY LANGUAGE BARRIERS LEGAL MIGRANTS LEGAL SYSTEM LOCAL CURRENCY LOW COST LOW COSTS MARKET CONDITIONS MARKET PLAYERS MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKETING MARKETING STRATEGIES MIGRANT ASSOCIATIONS MIGRANT COMMUNITIES MIGRANT WORKERS MIGRANTS MOBILE PHONE MONEY TRANSFER MONEY TRANSFER OPERATOR MONEY TRANSFER OPERATORS MORTGAGE MORTGAGE PAYMENTS NATIONAL BANK NEWSPAPER ADVERTISEMENT PAYMENT SERVICES PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS INFRASTRUCTURE PAYMENTS INFRASTRUCTURES PAYMENTS SYSTEM DEVELOPMENT PERMANENT RESIDENTS POST OFFICE POST OFFICE NETWORK POST OFFICES POSTAL SERVICE POSTAL SERVICES PUBLIC POLICY QUESTIONNAIRE QUESTIONNAIRES REAL ESTATE REFUGEE REGULATORY FRAMEWORK REMITTANCE REMITTANCE CORRIDORS REMITTANCE FLOWS REMITTANCE INDUSTRY REMITTANCE SENDING REMITTANCE SENDING COUNTRIES REMITTANCE SERVICE REMITTANCE SERVICE PROVIDERS REMITTANCE SERVICES REMITTANCE SYSTEMS REMITTANCE TRANSFER REMITTANCE TRANSFERS REMITTANCES REPO REPO RATE RESUME RISK MANAGEMENT SALARY SAVINGS SAVINGS ACCOUNT SEND MONEY SEND MONEY HOME SEND REMITTANCES SENIOR SOCIAL NETWORKS SPECIFIC REMITTANCE SPEED OF TRANSFER SUBSIDIARY TOTAL COST TRANSACTION TRANSFER METHOD TRANSFER METHODS TRANSFER MONEY TRANSPARENCY TYPE OF WORK UNEMPLOYED UNEMPLOYMENT UNION USERS OF REMITTANCE WIRE TRANSFERS WITHDRAWAL WORTH This survey was conducted by the World Bank Payment Systems Development Group, at the request of the Ministry of Finance of the Czech Republic, as a follow up to the World Bank-led mission that visited the country in 2008 to assess the market for remittances. This survey aims at analyzing the main characteristics of the market for remittances in the Czech Republic and should serve as a guide for both public authorities and the private sector in identifying possible actions to improve the efficiency of the market. A total of 880 migrants from eight different nationalities were interviewed during the summer of 2009 in Prague. The nationalities selected represent the largest and most important migrant communities in the country: China, Moldova, Mongolia, Poland, the Russian Federation, the Slovak Republic, Ukraine, and Vietnam. The following main findings can be extracted from the analysis of the survey's outcomes: i) a low level of transparency and consumer protection can be observed in the market for remittances in the Czech Republic. Senders are often not provided with all the relevant information by the Remittance Service Provider (RSP) at the moment of the transaction; ii) the lack of transparency is confirmed by the analysis of the cost as perceived by the interviewees, who do not generally consider the margin applied by the RSP as a price component. As a result, remittance senders are in general not aware of the actual cost that they are paying for the service; and iii) the market is dominated by Money Transfer Operators (MTOs) and, in particular, some MTOs hold the great majority of the market shares. 2012-03-19T09:35:36Z 2012-03-19T09:35:36Z 2010 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20101116004008 978-0-8213-8585-2 http://hdl.handle.net/10986/2521 English World Bank Study CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Europe Eastern Europe Czech Republic |