Cross-Border Payments Statistics
Last updated: June 2026 · 5 sourced statistics
Cross-border payments remain slower and more expensive than domestic ones — which is exactly why the G20 set formal targets to fix them. Remittances alone approach $900 billion a year, and the average cost of sending money internationally is still roughly double the UN's 3% goal. Sources: World Bank, BIS, and SWIFT.
Key takeaways
- Global remittances reached about $857 billion in 2023 (World Bank).
- Sending $200 across borders still costs around 6% on average — double the 3% target.
- Correspondent banking relationships shrank roughly 20% over the 2010s (BIS).
The statistics
Global remittance flows reached approximately $857 billion in 2023, with about $669 billion going to low- and middle-income countries (World Bank).
Source:World Bank / KNOMAD2024
The global average cost of sending $200 in remittances hovers around 6% — roughly double the 3% target set in the UN Sustainable Development Goals.
Source:World Bank Remittance Prices Worldwide2024
The G20 Roadmap for Enhancing Cross-border Payments targets cost, speed, access, and transparency improvements by 2027 — including retail transfer costs of no more than 3%.
Source:Financial Stability Board / G20 Roadmap2023
On SWIFT gpi, roughly half of cross-border payments are credited to the end beneficiary within 30 minutes, and the vast majority within 24 hours.
Source:SWIFT gpi2023
Active correspondent banking relationships declined by about 20% over the 2010s, concentrating cross-border flows through fewer institutions (BIS).
Source:Bank for International Settlements (CPMI)2020
Methodology & sources
Compiled June 2026 from World Bank/KNOMAD remittance data, the World Bank's Remittance Prices Worldwide database, FSB/G20 roadmap documents, SWIFT gpi disclosures, and BIS CPMI research. Remittance figures update annually.
Frequently asked questions
How much money moves across borders annually?
Remittances alone approach $900 billion (World Bank). Total cross-border flows including B2B trade payments run into the low hundreds of trillions of dollars.
Why are international payments expensive?
Multiple intermediaries, FX spreads, compliance costs, and shrinking correspondent banking networks. The global average remittance cost is still about 6% per $200 sent.
Are cross-border payments getting faster?
Yes — SWIFT gpi credits about half of payments within 30 minutes, and the G20 roadmap targets near-universal one-hour availability for a majority of payments.
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