Sydney, Dec 22: Unwrapping the case of Christmas Presents – to send or not to send?
This year, Australians are estimated to spend $10.5 billion on sending Christmas gifts to loved ones.
However, for those living in Australia with friends and family overseas, the decision isn’t as straightforward.
With international shipping cut-offs in early December and postage costs ranging from twenty to hundreds of dollars, immigrants and expats are increasingly turning to alternative means to show their affection.
Ria Money Transfer reports up to a 40 per cent increase in money sent abroad during December compared to other months.
This trend highlights the growing preference for the convenience and lower cost of sending money overseas instead of the laborious process of buying, wrapping, and shipping gifts.
Simon Wilding, Country Manager for AU & NZ at Ria Money Transfer Australia, acknowledges the challenges faced by expats during the festive season.
He encourages them to stay connected in whatever way possible.
“We know that most Australians are being impacted by the cost of living issues that have struck in the last 12 months and have less spare time than ever before.
So the labour-inducing and costly process of buying, packaging, and sending gifts doesn’t make sense for everyone in this current climate,” Wilding said.
“We can easily forget that Christmas can be a difficult time of year for those living away from family and friends, but we’re keen to show the substantial expat community in Australia that there is a far easier and cheaper option to still provide support and love overseas.”
The upcoming festive period isn’t the only time when remittances overseas spike.
Tet (70 per cent), Eid (45 per cent), and Diwali (15 per cent) also see increases in money sent, as people remain eager to give.
Meanwhile, in an interview with DailyStraits.com, Wilding said Ria Money Transfer is carving out a prominent position in the market and is recognized for its secure, swift, and cost-effective services.
The World Bank’s recent data highlights China, India, Vietnam, the United Kingdom, and the Philippines as the principal destinations for Australian remittances.
Wilding, observing the shifts in Australian migration policies and recent bilateral agreements, predicts significant changes in these remittance trends.
Ria distinguishes itself in the competitive field with an extensive network spanning over 540,000 locations worldwide and connections to more than 1.9 billion mobile wallet accounts.
This vast network is bolstered by Ria’s commitment to supporting local communities. When compared to rivals like Wise and Western Union, Ria’s offering is unique, boasting the largest direct bank deposit network globally.
Wilding emphasizes Ria’s focus on affordability, noting that while fees vary depending on the destination, they are designed to be competitive across different channels.
Under Wilding’s leadership, Ria has seen notable growth in Australia and New Zealand.
Starting from a modest storefront in Liverpool, NSW, the company has expanded to over 750 independent retailers, five company-owned stores, and a comprehensive digital platform, with a team of 50 members.
Security is a top priority for Ria, especially in the current digital age.
The company enforces strict verification and compliance measures to ensure consumer protection, positioning it as a reliable choice for secure financial transactions.
With over US$6.35 billion in remittances from Australia last year, Ria’s growth trajectory continues.
The service currently reaches 194 countries, with recent expansions including the Solomon Islands. Wilding is committed to enhancing Ria’s global presence and omnichannel services, aiming to provide unparalleled access and convenience in money transfers.
As part of Ria’s global mission, the company is focused on bridging the gap between digital and physical transactions.
Its diverse range of consumer choices, including real-time payments and cardless ATM payouts, is powered by the Dandelion network, making Ria a catalyst for economic growth and market expansion worldwide.
For more information about Ria’s services and global impact, visit Ria Money Transfer.
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