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Jamaicans urged to embrace digital means to collect remittances

 
President of the Jamaica Money Remitters Association, Margaret Campbell, is urging Jamaicans, especially those in rural areas, to switch to digital remittance channels to avoid new transfer taxes.
 
She is encouraging the over 30 per cent of Jamaican households that receive remittances to move away from cash collection and embrace digital options, including bank accounts, debit cards, credit cards, and approved digital platforms.
 
She says this shift is important in light of a one per cent tax imposed by U.S. President Donald Trump on money transfers to Jamaica.
 
While most global remittances are now sent digitally, many Jamaicans, particularly in rural areas, still collect their funds in cash.
 
With an average transfer of US$350 or about $56,000, the tax could amount to $3.50 or roughly $563 per transaction.
 
Ms. Campbell says her association will be ramping up financial education efforts to help the segment of the population understand the benefits and safety of digital transfers.
 
She also notes that discussions with local financial institutions are ongoing as they work to make the transition easier and more accessible.


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