International money transfer fees: where your money goes
By SendPay Business · · 2 min read
Sending money abroad can cost more than the fee you see up front. The total usually has several parts, and the biggest one is often hidden in the exchange rate.
The four main costs
- Upfront fee: a fixed or percentage charge for sending.
- Exchange rate mark-up: the gap between the rate you get and the mid-market rate.
- Intermediary fees: charges taken by banks the payment passes through on the way.
- Receiving fee: a charge some banks take when money arrives.
Comparing the real cost
The fairest comparison is how much arrives in the other account for the same amount sent. A transfer with no fee but a poor rate can cost more than one with a small fee and a rate close to the mid-market rate.
Ways to pay less
Check the rate against the mid-market rate, ask whether the receiver will be charged, and for regular payments consider holding money in the currency you pay in.
Where SendPay fits
SendPay platforms include GBP, EUR and USD accounts, currency exchange and transfers under your own brand, powered by licensed partners.
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What will my transfer really cost?
Add the fee and the exchange rate mark-up in the free calculator.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.