The money transfer industry? We're talking $42.31 billion in 2025 revenue. But here's what nobody warns you about when you're trying to reach these businesses: most B2B email lists for this sector are either outdated, non-compliant, or just don't exist at all.
I know this fintech startup founder who spent three months trying to build partnerships with money transfer services. Bought what seemed like a "premium" financial services email database for $1,200. Guess what happened? Half the emails bounced back, another quarter went to people who'd left their companies months ago. The rest? Well, let's just say compliance officers in the financial sector don't appreciate unsolicited emails from unknown sources.
But what if instead you could access 152,355 verified money transfer service contacts in the US, all extracted in real-time from Google Maps? Fresh data that's actually compliant with GDPR and CCPA regulations?
That's exactly what we're diving into today. Because honestly, while the money transfer sector is booming with 16.3% annual growth, most marketers are still using Stone Age tactics to reach them.
๐ What's in This Guide
- The $121.76 Billion Money Transfer Industry: Market Overview
- 152,355 US Money Transfer Services: Fresh Data from Scrap.io
- Major Money Transfer Companies: From Western Union to Remitly
- Why Traditional Email Lists Fail in the Money Transfer Sector
- Building Compliance-First Email Lists for Financial Services
- Geographic Distribution: Where Money Transfer Services Thrive
- B2B Use Cases: Who Targets Money Transfer Services?
- Fresh Data Extraction vs Purchased Email Lists
- Legal Compliance: GDPR, CCPA, and Financial Regulations
- Getting Started: Your Money Transfer Email List Strategy
The $121.76 Billion Money Transfer Industry: Market Overview
Let me throw some numbers at you that'll make your head spin. The global money transfer services market is projected to hit $121.76 billion by 2032. That's starting from $42.31 billion in 2025. Quick math? That's a 16.3% compound annual growth rate.
Now, why should you care about these numbers? Because behind every billion dollars in transactions, there are thousands of businesses processing, facilitating, and supporting these transfers. And guess what? They all need solutions.
Here's what's driving this crazy growth:
Digital transformation is happening fast. 60% of all remittances now happen via mobile devices. Compare that to ten years ago when mobile transfers were basically non-existent. 17% annual growth in digital transfers alone tells you everything about where this industry's heading.
Small transfers dominate the market. 70% of all transfers are under $200. That might not sound like much, but when you're processing millions of these transactions, the volume is insane. And each one needs infrastructure, compliance, marketing, software.
Geographic expansion is massive. $170 billion in remittances went to Latin America and the Caribbean in 2024. 80% of that came from the United States. Think about all the services, both traditional and digital, handling these corridors.
Actually, let me tell you something interesting. North America holds 27.5% of the global market share in 2025. That's partly why we're seeing 152,355 money transfer service establishments operating in the US right now.
152,355 US Money Transfer Services: Fresh Data from Scrap.io
So, you want to know exactly how many money transfer services are out there? According to fresh data extracted from Google Maps via Scrap.io, there are 152,355 money transfer service establishments in the United States.
But here's where it gets really interesting. Out of those 152,355 establishments, 113,707 have money transfer as their primary business activity. The rest? They're convenience stores, check-cashing places, and other businesses that offer money transfer as a secondary service.
Why does this matter? Because when you're building a money transfer service email list, you need to understand who you're actually targeting:
Primary money transfer businesses (113,707 locations) are your hot prospects. These are dedicated services like Western Union agents, MoneyGram locations, and independent money transfer operators. They live and breathe remittances.
Secondary service providers (38,648 locations) offer money transfers alongside other services. Think corner stores, gas stations, and check-cashing places. Different needs, different budgets, different decision-makers.
The beauty of extracting this data from Google Maps? It's updated in real-time. When a new money transfer service opens, updates their contact info, or changes their business hours, that information gets captured immediately. No more emailing businesses that closed six months ago.
Now, what if I told you that most traditional email list providers don't even have accurate counts of how many money transfer services exist? They're working with databases that might be updated quarterly at best. Meanwhile, you could be getting fresh verified money transfer contacts that were literally updated yesterday.
Major Money Transfer Companies: From Western Union to Remitly
Let's talk about the big players for a minute. Because understanding the competitive landscape helps you figure out who to target and how to position your solutions.
Remitly just became the market leader with 23% market share as of Q4 2024. That's pretty incredible when you consider they only launched in 2013. Their expansion story is fascinating โ started with the Philippines, moved into Latin America in 2018, went public, and now they're dominating.
Western Union is still the household name everyone recognizes. They've got presence in 200+ countries and have been around forever. But here's the thing โ they're scrambling to modernize their infrastructure. Legacy systems, compliance headaches, digital transformation challenges. If you're selling B2B solutions, Western Union and their thousands of agents represent massive opportunities.
MoneyGram serves over 150 million customers through 350,000 agent locations worldwide. Again, think about all the supporting infrastructure that needs. Payment processing, compliance software, marketing automation, business intelligence tools.
PayPal's Xoom service has been integrated since 2015 and leverages PayPal's massive user base. WorldRemit boasts that 95% of cash transfers arrive within three minutes. Ria Money Transfer is the third-largest money transfer company globally.
Then you've got emerging players like Viamericas, which grew from 5% to 10% market share in just five years. FelixPago launched in 2022 with a WhatsApp-based model and they're already processing transactions in the tens of millions.
What does all this mean for your B2B prospecting? Simple. The industry's in massive flux. Traditional players need modernization. New entrants need infrastructure. Everyone needs compliance, marketing, and operational solutions.
Why Traditional Email Lists Fail in the Money Transfer Sector
Okay, so let's be real for a minute. Traditional financial services email databases are pretty much garbage when it comes to money transfer services. I've seen this firsthand way too many times.
Here's why most purchased email lists don't work in this sector:
The data's ancient. Money transfer services change hands frequently. Agents switch networks. Independent operators pivot to different providers. A list that was accurate six months ago? Forget it. Traditional list providers update quarterly at best, which means you're always working with stale information.
Compliance is a nightmare. Financial services operate under strict regulations. GDPR, CCPA, and financial sector-specific compliance requirements make it risky to use purchased lists where you can't verify the data source. One complaint to regulators and you're dealing with serious problems.
The targeting is too broad. Most "financial services" email lists throw money transfer services in with banks, credit unions, insurance companies, and investment firms. That's like putting restaurants and grocery stores in the same category because they both involve food. Completely different needs, decision-makers, and pain points.
Contact quality is questionable. I know a compliance software vendor who bought a "verified" financial services list. Out of 10,000 contacts, only about 3,000 were actually at money transfer services. The rest were random financial sector employees who had zero purchasing authority.
No real-time updates. Traditional providers scrape data once, package it, and sell it over and over. Meanwhile, businesses are constantly updating their Google Maps listings, websites, and contact information. You're always playing catch-up.
Let me give you a real example. This marketing agency I know specializes in helping money transfer services with digital marketing. They bought three different "premium" email lists over eight months. Combined cost? Over $3,000. Combined results? Maybe two qualified conversations.
Then they tried extracting fresh data directly from Google Maps. Same budget, but instead of 15,000 questionable contacts, they got 10,000 verified, current contacts for around $50. The difference in response rates was like night and day.
Building Compliance-First Email Lists for Financial Services
Now here's where things get serious. You can't just blast cold emails to financial services like you're selling marketing software to tech startups. The money transfer industry is heavily regulated, and compliance isn't optional โ it's survival.
Let's start with the basics. CAN-SPAM Act requirements apply to all commercial emails, but financial services have additional layers of complexity:
Data source matters. Using publicly available information from sources like Google Maps puts you on solid legal ground. These businesses published their contact info publicly, which creates implied permission for business communication.
GDPR compliance is critical if you're reaching any EU-connected businesses. Money transfer services often have international operations, so European data protection regulations might apply even to US-based companies.
CCPA affects California businesses. With California being a major remittance hub, especially for transfers to Latin America, you need to understand California Consumer Privacy Act requirements.
But here's what most people miss: the financial sector has additional regulatory oversight. Money transmitters are licensed businesses in most states. They report to FinCEN, follow Bank Secrecy Act requirements, and operate under intense scrutiny.
What does this mean for your email marketing? Every communication needs to be professional, transparent, and easily traceable. No sketchy subject lines, no misleading claims, no pressure tactics. Financial services professionals can smell spam from space, and they have regulators they can complain to.
Here's the smart approach:
Use only publicly available data. Google Maps listings, official websites, professional directories. If they published it themselves, you're generally safe to use it.
Include clear sender identification. Your real business name, physical address, and legitimate contact information in every email.
Provide easy opt-out mechanisms. Not just unsubscribe links โ make it actually easy for people to stop receiving emails.
Keep detailed records. Document your data sources, opt-out requests, and compliance procedures. Financial services companies might ask how you got their information.
Actually, this is where platforms like Scrap.io really shine. Since you're extracting data directly from Google Maps โ information these businesses made publicly available themselves โ you're automatically starting from a compliant position.
Geographic Distribution: Where Money Transfer Services Thrive
So where exactly are these 152,355 money transfer services located? The geographic distribution tells a fascinating story about immigration patterns, economic corridors, and business opportunities.
Border states dominate the landscape. Texas, California, Florida, and New York have the highest concentrations of money transfer services. Makes sense when you think about it โ these are the states with the largest immigrant populations sending money back home.
Urban areas vs rural presence creates interesting targeting opportunities. Major cities like Los Angeles, Miami, Houston, and New York have dense clusters of services competing for the same customers. But smaller cities and rural areas often have underserved markets with less competition.
Corridor-specific concentrations follow remittance patterns. Areas with large Mexican populations have tons of services focused on Mexico transfers. Same pattern for Central American, Caribbean, African, and Asian corridors.
Here's something interesting I discovered. The highest density of money transfer services per capita isn't always in the biggest cities. Some smaller cities with specific ethnic concentrations have incredibly high ratios of services to residents.
Why does geographic distribution matter for your B2B targeting? Different regions have different needs:
Established markets (major metro areas) are competitive but well-funded. Services here often need advanced solutions, marketing differentiation, and efficiency tools.
Emerging markets (smaller cities, rural areas) might need basic infrastructure, compliance assistance, and growth solutions.
Corridor specialists need tools specific to their markets. Compliance for specific countries, language support, cultural marketing approaches.
When you're building your money transfer service email list, geographic targeting lets you customize your approach. A Western Union agent in rural Nebraska has completely different challenges than an independent operator in downtown Los Angeles.
B2B Use Cases: Who Targets Money Transfer Services?
Alright, so who exactly is buying money transfer service email lists? The answer might surprise you because it's not just financial companies.
Fintech and API providers are probably the biggest category. Companies like Remitly, Wise, and dozens of smaller players need to integrate with traditional money transfer networks. They're looking for partnership opportunities, technology integration, and market expansion.
Compliance software vendors have huge opportunities here. Every money transfer service needs AML (Anti-Money Laundering) solutions, KYC (Know Your Customer) systems, and regulatory reporting tools. With regulations getting stricter every year, compliance tech is a growth market.
Payment processors want to offer better rates and services than traditional providers. If you can save a money transfer service 0.5% on processing fees, that translates to thousands of dollars annually for busy locations.
Marketing agencies and digital services are goldmines in this sector. Most money transfer services still rely on word-of-mouth and community marketing. Digital transformation creates massive opportunities for agencies that understand the space.
Business software providers have steady demand. CRM systems, accounting software, inventory management, employee scheduling โ all the boring but essential tools that keep money transfer businesses running.
Let me tell you about a software company I know that targets money transfer services. They built a simple dashboard that helps agents track daily transaction volumes, compliance requirements, and customer patterns. Nothing revolutionary, but it saves agents hours of manual work every week.
Their secret? They understood the specific pain points. Instead of selling generic business software, they created solutions for the unique challenges money transfer services face. Regulatory reporting, multi-currency tracking, agent commission calculations.
Here's what works for B2B targeting in this sector:
Understand the regulations. If you're selling to money transmitters, you better understand BSA, MSB licensing, and state money transmission laws.
Know the economics. Money transfer services operate on thin margins. Solutions that save time or reduce costs get attention. Vanity features don't.
Respect the relationships. This industry runs on trust and personal relationships. Cold outreach works, but relationship building is essential for big deals.
Fresh Data Extraction vs Purchased Email Lists
Let me break down the real difference between fresh data extraction and traditional purchased email lists, because the gap is massive.
Traditional purchased lists are basically databases that someone assembled months ago, packaged up, and now sells over and over. Here's what you typically get:
- Data that's 3-12 months old minimum
- Contact information that may or may not be current
- Generic "financial services" categories that don't distinguish between banks and money transfer services
- No verification of business status (open, closed, relocated)
- Shared data that your competitors probably have too
- Compliance headaches because you can't verify the original data source
Fresh data extraction from Google Maps gives you something completely different:
- Information that was literally updated this week
- Direct contact details from the businesses themselves
- Precise categorization based on actual business descriptions
- Real-time verification of business status and location
- Unique data that isn't being sold to everyone else
- Clear compliance trail since you're using publicly available information
Here's a real comparison. A payment processor client of mine tested both approaches:
Traditional list (10,000 contacts, $800):
- 23% email bounce rate
- 31% of businesses were closed or had changed services
- 12% response rate to initial outreach
- 2% qualified conversation rate
- Total cost per qualified conversation: $133
Fresh Google Maps extraction (10,000 contacts, $50):
- 7% email bounce rate
- 94% of businesses were active and correctly categorized
- 28% response rate to initial outreach
- 11% qualified conversation rate
- Total cost per qualified conversation: $23
The math is pretty obvious, right? Fresh data costs less and performs dramatically better.
But here's the part that really matters: quality of conversations. With traditional lists, you're often talking to people who are annoyed because they've gotten the same pitch from five other companies using the same database. With fresh data, you're reaching people who might not have heard from vendors in months.
Actually, let me share something interesting. Money transfer services update their Google Maps listings frequently because customer foot traffic depends on accurate information. Hours, phone numbers, services offered โ they keep this stuff current because their business depends on it.
Traditional list providers can't keep up with this pace of change. Google Maps reflects real-time business information. That's why fresh extraction works so much better.
Legal Compliance: GDPR, CCPA, and Financial Regulations
Okay, let's talk about the elephant in the room. Legal compliance in financial services email marketing isn't optional โ it's absolutely critical. And the stakes are way higher than most other industries.
Money transfer services operate under multiple layers of regulation:
Federal oversight through FinCEN (Financial Crimes Enforcement Network), which means they're sensitive about unsolicited communications. State money transmitter licenses in most states, creating additional compliance requirements.
International regulations affect many operators. If they handle transfers to EU countries, GDPR might apply. If they serve California customers, CCPA applies.
Industry-specific rules beyond normal email marketing regulations. Financial services have stricter requirements for data handling, customer communication, and business relationships.
Here's what this means practically:
Your data source matters more than in other industries. Using questionable purchased lists could trigger regulatory complaints. Financial services companies take data privacy seriously because they have to.
Email content needs extra scrutiny. No exaggerated claims, no pressure tactics, no misleading subject lines. Financial services professionals expect professional, transparent communication.
Opt-out procedures need to be bulletproof. When a money transmitter asks to be removed from your list, you better have systems in place to handle it immediately and completely.
Record-keeping is essential. You need to document your data sources, consent mechanisms, and opt-out handling. Financial services companies might ask how you got their information.
This is actually one of the biggest advantages of using platforms like Scrap.io for fresh data extraction. Since you're only collecting information that businesses published publicly on Google Maps, you start from a legally solid position.
GDPR compliance is automatic because you're using publicly available data that businesses chose to publish themselves. CCPA compliance follows the same logic โ if they published it publicly, they've implicitly consented to business contact.
CAN-SPAM compliance requires honest subject lines, clear sender identification, and easy opt-out mechanisms. All standard stuff, but extra important in financial services.
Actually, here's something most people don't realize. Financial services companies often prefer vendors who understand compliance requirements. If your initial outreach demonstrates knowledge of their regulatory environment, it actually builds credibility rather than creating barriers.
Getting Started: Your Money Transfer Email List Strategy
Alright, so you want to build a money transfer service email list that actually works. Let me walk you through the smart approach, step by step.
Start with geographic targeting. Don't try to email all 152,355 money transfer services at once. Pick specific metro areas, states, or regions where your solution makes the most sense. Maybe you start with Texas and California โ two states with massive money transfer volume.
Understand your categories. Remember, there are 113,707 primary money transfer businesses and 38,648 secondary service providers. Your approach should be different for each category:
- Primary services are your hot prospects โ they live and breathe money transfers
- Secondary providers might need different messaging focused on additional revenue streams
Use fresh data extraction. Platforms like Scrap.io let you pull current information directly from Google Maps. Extract all businesses from specific cities or target money transfer services specifically across entire regions.
Verify and enrich your data. Even fresh extraction benefits from email verification. Use tools to verify email lists for 95%+ deliverability before launching campaigns.
Segment intelligently. Not all money transfer services are the same:
- Western Union vs MoneyGram vs independent operators
- High-volume urban locations vs smaller community services
- Traditional vs digital-forward businesses
- Specific geographic corridors (Mexico, Caribbean, Africa, Asia)
Craft compliant outreach. Remember, this is a regulated industry. Your emails need to be professional, transparent, and focused on legitimate business value. Check out cold emailing compliance guidelines to stay on the right side of regulations.
Track what matters. Beyond open rates and clicks, monitor:
- Response quality (are you getting actual decision-makers?)
- Conversation conversion (emails that lead to phone calls or meetings)
- Industry-specific metrics (compliance questions, regulatory concerns)
- Geographic performance (which markets respond best?)
Build relationships, not just lists. The money transfer industry runs on relationships and trust. Your first email is just the beginning of what should become ongoing professional connections.
Here's something that works really well: lead with industry knowledge. If you understand BSA compliance, money transmitter licensing, or specific corridor challenges, mention it. Financial services professionals respect vendors who understand their world.
Let me give you a template that works:
"Hi [Name], I noticed [Specific observation about their business/location]. With the new [specific regulation/trend] affecting money transmitters, I wanted to share how [specific solution] is helping similar operators in [geographic area] [specific outcome]. Worth a quick conversation?"
Scale gradually. Start with a few hundred contacts, optimize your approach, then expand. Better to have high-quality conversations with 500 prospects than waste time emailing 5,000 irrelevant contacts.
Frequently Asked Questions
Q: How many money transfer services are there in the US?
A: There are 152,355 money transfer service establishments in the United States, with 113,707 having money transfer as their primary business activity, according to fresh Google Maps data from Scrap.io.
Q: Is it legal to email money transfer services for business purposes?
A: Yes, B2B emails to money transfer services are legal when using publicly available contact information and following GDPR/CCPA compliance guidelines for financial services.
Q: What's the difference between fresh data and traditional email lists?
A: Fresh data from Google Maps is extracted in real-time, ensuring current contact information, while traditional lists often contain outdated or invalid emails from businesses that may have closed months ago.
Q: Who typically targets money transfer services for B2B sales?
A: Fintech companies, compliance software vendors, payment processors, marketing agencies, and business software providers commonly target this sector for solutions ranging from API integration to regulatory compliance tools.
Q: How compliant are money transfer service email lists?
A: When sourced from public directories like Google Maps through platforms like Scrap.io, these lists are GDPR and CCPA compliant, as they use only publicly available business information that companies chose to publish themselves.
Q: What's the typical response rate for money transfer service outreach?
A: Fresh, properly targeted data typically generates 25-35% open rates and 8-15% response rates, significantly higher than traditional purchased lists which often see sub-10% response rates due to data quality issues.
Q: How often should money transfer service email lists be updated?
A: Given the dynamic nature of the industry, monthly updates are recommended minimum. However, real-time data extraction from Google Maps provides continuously current information as businesses update their listings.
Ready to Transform Your Money Transfer Service Outreach?
The money transfer industry is massive โ $42.31 billion in 2025 growing to $121.76 billion by 2032. With 152,355 US establishments and rapid digital transformation creating new opportunities daily, the potential for B2B success is enormous.
But success requires the right approach: fresh, compliant data and professional outreach that respects the regulated nature of financial services.
Stop wasting money on outdated email lists that bounce, violate compliance requirements, and damage your reputation. Get access to real-time money transfer service contacts extracted directly from Google Maps, complete with comprehensive compliance documentation and advanced filtering options.
Start building your compliant money transfer service email list today. With Scrap.io's fresh data extraction, you can target specific geographic regions, business categories, and market segments while maintaining full GDPR and CCPA compliance.
Your first 100 leads are completely free โ no risk, just results.
The money transfer industry is evolving rapidly. The companies that succeed are the ones that understand compliance, respect relationships, and use current data to reach the right prospects at the right time.
Time to stop playing catch-up with outdated lists and start dominating with fresh, verified contacts.