Hesab lacks evidence for 6% remittance discount for remote workers
| Middle East & North Africa | 6.6% |
|---|---|
| Global Average | 6.6% |
| Sub-Saharan Africa | 8.45% |
Headline: Hesab's global bank offers no 6% remittance pledge for remote workers
6% isn’t a confirmed discount from Hesab, despite the figure’s proximity to average global remittance costs.
The 6% figure is a benchmark
Sending remittances cost an average 6.3% to 6.6% of the transferred amount globally in 2024, World Bank data shows. Costs averaged about 8.45% in sub-Saharan Africa and 5.8% to 6.6% across the Middle East and North Africa.
For a remote worker sending $1,000, those rates equal $63 to $66 globally, $84.50 to sub-Saharan Africa or $58 to $66 to the Middle East and North Africa. Hesab hasn’t published evidence that its system reduces those charges by 6 percentage points or 6%.
Stablecoins replace correspondent banks
Hesab is building its Global Self-Custody Bank on the Movement network, using stablecoins for real-time cross-border settlement. The system is designed to avoid pre-funded balances and correspondent banking chains, two sources of delays and costs in traditional remittances.
Movement connects with licensed payment rails in the United States, Canada and the European Union. It uses USDC and USDT for dollar-denominated liquidity across different payment corridors.
Hesab says it already serves active users in more than 160 countries, processes about $160 million through more than 1 million transactions each month and accepts funding through 20-plus channels, including bank cards, transfers, Apple Pay and Google Pay.
Fees and country access remain unclear
The Hesab-Movement partnership was disclosed July 7-8, but neither company has published an exact user launch date, country-by-country schedule or complete fee table. Availability may differ by market and funding method.
That leaves access unresolved for many African and Middle Eastern markets covered in Stamped Nomad’s destination guides. Any cost comparison will require Hesab’s eventual deposit, conversion and withdrawal fees, none of which currently supports a guaranteed 6% reduction.
Frequently asked questions
How fast do Hesab stablecoin transfers settle?
Where is Hesab available for users right now?
How can users access their money with Hesab?
Why does Hesab say its model cuts remittance costs?
What are typical remittance costs for remote workers moving money through a traditional bank wire?
What payment rails does Movement now have for sending money home?
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