Traditional money transfer agents, banks and point-to-point local remittance providers have long gouged customers every time they ‘wired’ funds overseas. But the currency exchange and remittance business is undergoing disruption as fintech startups such as TransferWise’s popularity in Europe to InstaRem’s growing presence in South East Asia have made international money transfers much cheaper and quicker. The latest entrant to the Hong Kong market is Dollarsmart Global, a peer-to-peer remittance specialist, which just launched its local service HKDSmart. Users will get substantial savings every time they send money broad.

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