How to Send Money Abroad Cheaply
Sending money overseas — to family, for a property, to pay a freelancer — can cost far more than it should. The damage is usually hidden in the exchange rate, not the upfront fee.
Two costs, one hidden
Every transfer has a visible fee and a hidden exchange-rate margin. Many “no fee” services simply widen the margin instead. Always compare the rate you get against the mid-market rate on our converter — the gap is the real price.
Skip the high-street bank
Traditional banks often bake in a 3–5% margin on international transfers. Specialist money-transfer services typically convert much closer to the mid-market rate, so on large sums the saving can be hundreds.
Tips that save money
- Compare two or three providers on the same day — rates and fees vary.
- For big transfers, a small percentage saved is a large sum — shop around.
- Watch for weekend surcharges; rates can be worse when markets are closed.
The golden rule is the same as for travel money: know the mid-market rate first, and every markup becomes visible.