A Startup That Aims to Be the Kayak for Money Wiring

Walk through an immigrant neighborhood in any major U.S. city, and you’re likely to see storefront after storefront of money-transfer companies such as Western Union, MoneyGram, and Vigo. Since many immigrant workers don’t have bank accounts, these businesses offer a way to send money home—$48 billion in 2009 alone.

It isn’t exactly easy to find a good deal, though. The exchange rates can change multiple times a day. The fees vary widely and are often steep. And the sheer variety of companies and options can be tough to wade through. Brendan McBride, an affordable housing developer living in Brooklyn, thinks he can improve on that. His new website, Remás, is a one-stop shop for pricing information that shows users exactly how much—after fees—their relatives will receive. It “allows people to have information at their disposal before they step out the door,” McBride says. “It’s a hassle to go from place to place.”