There is evidence and growing awareness among banks of the commercial potential of the remittances business. In Germany, competition in the financial sector ensures quite reasonable prices for remittance services, at least as far as sending costs are concerned.
In the case of Turkey, the most important receiver country of German migrant payments, remittances are processed mainly by Turkish banks in Germany or by financial service providers with a close link to Turkish banks. In some other countries, money transfer providers outside the banking sector play an important role.