Online Tool Store
Remittance Cost Comparison
Compare remittance options on total cost — the visible fee plus the exchange-rate margin — to see what actually arrives at the other end.
🔒 This tool runs entirely in your browser. Your files are never uploaded to a server.
Finance
Remittance Cost Comparison
Frontend preview — no upload or external service.
True cost
On 1,000 sent: a 4.90 fee plus a 1.86% rate margin means a real cost of 23.50 — the recipient gets 5,800 less than the mid-market rate would give.
How the Remittance Cost Comparison works
- Enter the amount and the fee each provider quotes.
- Add the exchange rate offered and the mid-market rate for that pair on the same day.
- Compare providers on total cost, not on the fee — the margin is usually the bigger number.
The method
The real cost of a transfer is the visible fee plus the gap between the rate you are offered and the mid-market rate, expressed against the amount sent.
total cost = fee + amount x (mid-market rate - offered rate) / mid-market rate
At 305.20 against a 311.00 mid-market rate, the margin is 1.86%, so 1,000 carries 18.60 of hidden cost on top of the 4.90 fee.
FAQ
What is the mid-market rate?
The midpoint between buy and sell prices on the interbank market — the rate you see on a search engine or financial site. No consumer provider gives it exactly; the gap is where they earn.
Is a zero-fee transfer actually free?
Rarely. Zero-fee offers usually carry a wider rate margin, which is why comparing on fee alone consistently picks the more expensive option.
Why do quotes change during the day?
Rates move continuously. Compare providers within a few minutes of each other, and check whether a quote is locked or indicative before committing.
How we compare
| Feature | Online Tool Store | A spreadsheet | An advisor consultation |
|---|---|---|---|
| Includes rate margin | ✓ | Manual | ✓ |
| Compares total received | ✓ | ✓ | Their products only |
| Provider-neutral | ✓ | ✓ | ✗ |
| Live rates | ✗ | ✗ | ✓ |
Remittance Cost Comparison puts the rate margin next to the fee, because the advertised fee is usually the smaller half of what a transfer costs.