immigrants

Anadrol 50 · #1 10-19-2006, 06:25 PM

I just read this article on immigrants sending cash back to their original countries. http://www.chron.com/disp/story.mpl/...s/4270338.html

Besides being a bank and charging fees, how can we make money off of this growing trend?

BigBuffet · #2 10-19-2006, 06:39 PM

Roll them in the bank parking lot [img]/images/graemlins/laugh.gif[/img]

elus2 · #3 10-19-2006, 07:29 PM

I just send money back through western union. Quick and painless.

There have been a few Filipino businesses here that run a 'door-to-door' service where they send containers on ships filled with boxes that their customers want to send relatives back home. These boxes are filled with everything from peanut butter jars, soap, candies, medicine, etc.

The main barrier to entry there is having to deal with corrupt officials at the ports on the other side. Plus you'll need to hire people at that country to help in delivering cargo to their intended destinations.

Nato76 · #4 10-19-2006, 07:33 PM

I think Western Union has that on lock.

damedash · #5 10-19-2006, 08:41 PM

Pay cards similar to neteller cards

dc_publius · #6 10-20-2006, 03:41 PM

One of the highest growing businesses is providing services to immigrants who want to stay in touch with their families. Historically, they did this primarily by sending money and making phone calls, but increasingly there are businesses that will buy whatever you want in a given country and deliver in that country to your family. These companies fulfil various orders like christmas gifts/seasonal gifts/special requests.

elus2 · #7 10-20-2006, 03:46 PM

Another avenue to tackle is to figure out what it is that these people are actually sending back home and to try and capitalize on that by securing lower prices for them.

Shoe · #8 10-21-2006, 02:26 PM

[ QUOTE ]
I think Western Union has that on lock.

[/ QUOTE ]

I agree... it will be hard to afford to start a new business in this area while at the same time charging lower fees than Western Union.

Plus, how are you going to deal with all the scammers? Tons of scammers use western union, do you have a plan that is as good as Western Union's to deal with them? (I have no idea what their plan is but I don't think they will tell anyone who asks either).

KajunKenny · #9 10-21-2006, 04:42 PM

Want to tell us how scammers use western union? I never heard of that before...

kyleb · #10 10-21-2006, 09:07 PM

[ QUOTE ]
Want to tell us how scammers use western union? I never heard of that before...

[/ QUOTE ]

Gambling sites for starters, but Internet pharmacies use them as well. Plenty of Internet scam-artists use them since the money can't be charged back.