Receiving country · World Bank RPW · LV
Send money to Latvia
Corridor breadth is low-tercile (1 inbound source) - a narrow origin set versus denser receive markets.
- 6.9%
- Avg inbound cost
- 1.5%
- Cheapest · from Russia
- $1.4B
- Received per year
- 1
- Source corridor
Corridor-breadth tercile vs fleet
Latvia is quoted from 1 origin country, below the fleet breadth tercile (~2 corridors). Average inbound cost is 6.9%.
- #37 of 53
- WDI inflow corpus rank
- 6.9%
- average inbound cost
- 1.5%
- cheapest source: Russia
- $1.4B
- received annually
Cheapest Ways to Send Money to Latvia
All Corridors to Latvia
| # | From | Avg cost | Cheapest | Cheapest provider |
|---|---|---|---|---|
| 1 | Russia | 6.9% | 1.5% | Paysend |
Narrow origin set into Latvia
Only 1 origin country quotes routes into Latvia - below the fleet breadth tercile (~2). Average inbound cost is 6.90%.
The three cheapest inbound corridors to Latvia right now are from Russia at 1.49% via Paysend. These are floor prices on a $200 transfer into Latvia, fee plus FX margin.
With a thin origin set, corridor choice is limited; the actionable lever is provider comparison on the few quoted routes rather than hunting a missing source country.
About Latvia inbound data
PlainRemit compares international money-transfer costs across tracked corridors so you can see which routes and providers charge the least before you send money abroad. This country's figures are computed directly from the World Bank Remittance Prices Worldwide (RPW) quarterly survey, a mystery-shopping panel of actual transfer quotes for a standardized $200 transfer. The UN Sustainable Development Goal 10.c target is to reduce remittance transaction costs to below 3% by 2030; always verify current rates directly with providers before sending money, rates change frequently.
Average inbound cost 6.90%; 1 source corridor tracked to Latvia; vintage 2026-08-10.
Frequently Asked Questions
How much money is sent to Latvia each year?
Latvia receives about $1.4B a year - lower inflow tercile - from 1 RPW source countries at 6.90% average inbound cost.
What is the cheapest way to receive money in Latvia?
On World Bank RPW $200 sends, the cheapest inbound floors into Latvia are from Russia, as low as 1.49%. Country average inbound cost is 6.90%.
How have remittance costs to Latvia changed over time?
RPW has tracked transfer costs to Latvia since 2011. The current average inbound cost is 6.90% versus a ~6.4% global RPW average; UN SDG 10.c targets ≤3% by 2030.
Where does Latvia sit among remittance-receiving countries?
According to World Bank WDI remittance inflows among 53 tracked receiving countries on PlainRemit, Latvia ranks #37 of 53 by annual dollars received. /send-to browses alphabetically; this inflow ordinal matches the largest-receivers research ranking.