The Hidden Costs of Sending Money Abroad
Why the exchange rate markup matters more than the fee.
October 20, 2026 · 5 min read
Many providers advertise zero fees but make money on the exchange rate.
Exchange rate markup
Compare the rate you are offered against the mid-market rate. A 3% markup on $1,000 costs you $30.
Total cost
Always compare the amount the recipient actually receives.
Tips
- Use specialists rather than banks
- Pay by bank transfer instead of card
- Send larger, less frequent amounts