Cheikhrouhou, HelaJarque, RodrigoHernández-Coss, RaúlEl-Swaify, Radwa2012-06-052012-06-052006978-0-8213-6782-7https://hdl.handle.net/10986/7172This study reports on recent development and future potential for U.S.-based Guatemalan workers cross-border retail transfers to be more formal, cheaper, and disposed to the cross-sale of financial products and services. It also presents the key features of remittances senders, recipients, instruments, and intermediaries involved. The paper focuses on three areas: (a) the main characteristics of the Guatemalan migrants in the United States and the key drivers behind their decision to remit money and to choose an intermediary; (b) financial infrastructure supporting U.S.-Guatemala remittances processing, especially the role of technology, payment systems and innovations going forward, as avenues to help lower transaction costs, among others; and (c) the landscape of workers remittances distribution in Guatemala, examines the characteristics of recipients and the evidence of remittances impact, and analyzes the indications of potential for cross-sale of financial services to recipients.en-USCC BY 3.0 IGOACCOUNTINGAFFILIATEAGRICULTURAL ACTIVITIESAGRICULTUREANTI-MONEY LAUNDERINGANTI-MONEY LAUNDERING REGULATIONSBALANCE OF PAYMENTSBANKBANK ACCOUNTBANK ACCOUNTSBANK SECRECY ACTBANKING SECTORBANKING SYSTEMBANKSBORDER TRANSACTIONSBORDER TRANSFERSCAPITA REMITTANCESCASH REMITTANCESCHECK CASHINGCITIZENSCIVIL CONFLICTCLEARING HOUSECLEARING HOUSESCOMMERCIAL CODECOMPENSATION OF EMPLOYEESCONSUMER PROTECTIONCOOPERATIVESCORP.COURIER SERVICESCREDIT INSTITUTIONSCREDIT UNIONSDATA ON REMITTANCESDEPOSIT INSURANCEDEPOSITORSDEVELOPING COUNTRIESDISSEMINATIONDRUG ABUSEDUE DILIGENCEEFFECT OF REMITTANCESELECTRONIC FUNDSELECTRONIC FUNDS TRANSFERSELECTRONIC TRANSFERELECTRONIC TRANSFERSEMIGRANT REMITTANCESEMPLOYMENTEMPLOYMENT OPPORTUNITIESEXCHANGE RATESFAMILY MEMBERSFARMERSFEDERAL DEPOSIT INSURANCEFEDERAL DEPOSIT INSURANCE CORPORATIONFEDERAL RESERVE SYSTEMFINANCIAL FLOWSFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL INTERMEDIATIONFINANCIAL LITERACYFINANCIAL MARKETSFINANCIAL PRODUCTSFINANCIAL SERVICESFINANCIAL SYSTEMSFINANCIAL TRANSACTIONSFOREIGN ASSETSFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN WORKERSGROSS DOMESTIC PRODUCTHOME COUNTRYHOST COUNTRIESHOST COUNTRYHOUSEHOLD INCOMEHOUSINGID REQUIREMENTSIMMIGRANTSIMMIGRATIONIMPACT OF REMITTANCESIMPORTANCE OF REMITTANCESINCOMEINCOME DISTRIBUTIONINCOME INEQUALITYINCOMESINDIVIDUALSINFORMAL CHANNELSINTERNATIONAL BORDERSINTERNATIONAL ORGANIZATION FOR MIGRATIONINTERNATIONAL REMITTANCEINTERNATIONAL REMITTANCE SYSTEMSLATIN AMERICANLAWSLEGAL FRAMEWORKLEGAL STATUSLIMITEDMACROECONOMIC LEVELMERGERMERGER AGREEMENTMICROFINANCEMIGRANTSMIGRATIONMIGRATION FLOWSMIGRATORY STATUSMONETARY REMITTANCESMONEY GRAMMONEY LAUNDERINGMONEY ORDERMONEY ORDERSMONEY TRANSFERMONEY TRANSFER COMPANIESMONEY TRANSFER OPERATORMONEY TRANSFER OPERATORSMONEY TRANSFERSMONEY TRANSMITTERSMOTHERNATIONAL SECURITYOPERATING COSTSPARTNERSHIPPAYMENT SYSTEMSPENSIONSPOSTAL SERVICEPOSTAL SERVICESPOVERTY ALLEVIATIONPRIMARY EDUCATIONPRIVATE ENTITIESPROFITABILITYPROPRIETARYPUBLIC FINANCERECIPIENT COUNTRIESRECIPIENT COUNTRYREGULATORY COMPLIANCEREGULATORY FRAMEWORKREMITTANCEREMITTANCE BUSINESSREMITTANCE CORRIDORSREMITTANCE DISTRIBUTIONREMITTANCE FLOWREMITTANCE FLOWSREMITTANCE INDUSTRYREMITTANCE MARKETREMITTANCE PAYMENTSREMITTANCE PRODUCTSREMITTANCE RECEIVERREMITTANCE RECIPIENTSREMITTANCE SENDERSREMITTANCE SERVICEREMITTANCE SERVICE PROVIDERSREMITTANCE SERVICESREMITTANCE TRANSACTIONREMITTANCE TRANSACTIONSREMITTANCE TRANSFERREMITTANCE-RECEIVING HOUSEHOLDSREMITTANCESREMITTANCES FLOWSREMITTERSRURAL AREASSAVINGSSEND REMITTANCESSERVICE PROVIDERSOCIAL SERVICESSOCIETYSPONSORSPOUSESSUBSIDIARYTAKEOVERTERRORISTTRANSACTION COSTSTRANSFER CHANNELSTRANSFER FEETRANSFER OF REMITTANCESTRANSFER SERVICESTRANSPORTATIONUNDOCUMENTED MIGRANTUNDOCUMENTED MIGRANTSUNDOCUMENTED WORKERSUNIONUNSKILLED LABORUNSKILLED WORKERSUSING MONEY ORDERSWORK FORCEWORKER REMITTANCESWORKERS REMITTANCESWorld Bank10.1596/978-0-8213-6782-7