#remittance

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"Every year, Carlos Hernández Mejía, a 35-year-old research scientist in Amsterdam, sends 3,000 to 4,000 euros to help maintain his mother’s house in Mexico. During the pandemic, he also helped his brother, sending 300 euros a month to cover rent while he was studying.

Carlos is one of 200 million migrants who regularly send back money to support their families and communities.1 These cash transfers reach around 800 million people globally — more than the populations of the United States and the European Union combined.

Imagine a classroom of 30 students representing the world’s population; at least three would get money from remittances — one in ten people.

These payments have quietly become a major force in helping families pay school fees, make repairs to their homes, and cover medical bills.

The World Bank estimates that money sent back by migrants constitutes around two-thirds of what is called “remittances” in global statistics.2 The rest comes from border, seasonal, and other short-term jobs abroad or work with non-resident employers, such as embassies and international organizations.

In this article, we’ll ditch the jargon and refer to remittances as money sent back or brought back by migrants. “Sent back” refers to personal transfers, and “brought back” refers to the compensation of employees."

By Rosa Miriam Elizalde

At the age of 19, I couldn't bear the tight schedule. If this continues, I think your body and mind will fall apart. I told my parents I wanted to leave the entertainment world.

I hadn’t given enough thought to the massive damage the COVID-19 pandemic and the subsequent “market failures” would cause for migrant workers globally. Remittances are just one of many issues that are going to be deeply problematic - labor camps hold some of the most vulnerable workers in close contact - and millions are returning home after likely being exposed. 

Did you know your money transfers can earn you real shopping rewards? With the LuLu Money Rewards Program in Kuwait, every remittance you send is a step closer to free shopping at LuLu Hypermarket!

Here’s How It Works:

New users get a head start and earn 180 points (worth 1.5 KWD) on their very first successful transaction through the LuLu Money App. After that, every subsequent transfer earns you 60 points (worth 0.5 KWD).

And the best part? There’s no maximum limit on the number of qualifying transactions or reward points you can earn!

Redeem & Shop:

Once you accumulate enough points, they convert into LuLu Happiness Points — redeemable for purchases at any LuLu Retail Store in Kuwait. Redemption is done in multiples of 240 points, making it easy to plan your rewards.

Keep in Mind:

Each reward point is valid for one year from the date it is earned — so don’t let them go to waste!

The offer is valid for transfers to all destination countries currently supported by the LuLu Exchange Kuwait.

Expired points lapse automatically and cannot be reinstated or transferred.

How to Get Started:

Simply download the LuLu Money App, register, and complete your first transfer. Your rewards start instantly!

Whether you’re sending money home to family or managing regular remittances — LuLu Money makes every transfer more rewarding.