Target 10.c: Reduce remittance transaction costs below 3 percent
By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent
Owners voting their values can deliver most of the outcome.
Why shareholder democracy is pivotal
The target is defined by a price, and the price is set by the companies that move the money. The World Bank's Remittance Prices Worldwide reports a global average cost of 6.36 percent in Q3 2025, with banks charging 14.99 percent, money transfer operators 4.72 percent and digital services 4.59 percent. Listed banks, card networks, money-transfer operators and fintech firms supply most formal corridors. They include Western Union, Wise, Remitly, PayPal and Visa, along with mobile-money operators like Safaricom and MTN. If they priced every corridor under 3 percent, opened their payout networks and lobbied for interoperable payment rails and proportionate anti-money-laundering rules, most of the outcome would follow from corporate conduct. The residual outside corporate reach is compliance costs and de-risking pressure set by regulators, plus thin corridors served by unlisted or informal operators. These determine the last points of cost rather than the bulk of it. Owners voting for sub-3-percent pricing and pro-competition lobbying can deliver most of this target.
How this was scoredPivotal
Pivotal. Owners voting their values can deliver most of the outcome.
We have not yet written down the two answers behind this rating. Recording them on every item, so a reader can check the reasoning and not only the conclusion, is work in progress.
Every rating is the higher of two answers, one for what companies do and one for what they spend to stop the outcome, because the same vote reaches both. See the full method.
Sources
No shareholder advocacy found yet
We looked and found nothing that met our standard, which is a source we opened and confirmed. No shareholder proposal, investor coalition engagement or voting policy addressing remittance corridor pricing was located. The ICCR page on bank engagement that surfaced in search does not mention remittances or money transfer pricing. Shareholder activity at Western Union in the located record concerns proxy access and governance, not consumer transfer fees.
How this rating was made
Every item on every one of our maps is read against one question: how far does this depend on the people who own companies voting their values? We answer it twice, once for what companies do and once for what they spend to stop the outcome, and take whichever answer is higher, since the same vote reaches both. The score carries its reasoning and its sources so that a reader can check it rather than take it.
- Pivotal. Owners voting their values can deliver most of the outcome.
- Necessary. Owners remove an obstacle nothing else removes, and others must also act.
- Helpful. Owners voting their values help, and others carry most of it.
- Independent. This moves without owners. Other levers carry it.
The advocacy record on this page holds only what a source we opened says happened. Where we searched and found nothing, the page says so rather than leaving a silence. Where a campaign names a filer the source does not name, it says that too. Ratings are ours; the list of subjects is UN Sustainable Development Goals's, and we link to their original.
How we score dependency, in full.