In the context of money services businesses (MSBs), a destination corridor is a specific geographic region or country where a significant amount of money is being transferred. For example, a destination corridor could be the United States to Mexico, or India to the United Arab Emirates.
Destination corridors are important for MSBs because they often specialize in facilitating money transfers between specific pairs of countries or regions. By focusing on specific corridors, MSBs can build up expertise in the regulations, financial systems, and cultural norms of those regions, which can make it easier for them to provide efficient and reliable money transfer services to their customers.
This page was last updated on January 6, 2023.