# Remittance Cost Calculator

> Free remittance calculator: compare Wise, Remitly, Western Union and more side by side. See the true cost including hidden exchange-rate margins, with an interactive chart.

Every transfer costs you twice: the visible fee and the margin hidden in the exchange rate. Enter an amount, pick a corridor, and compare what your recipient actually receives.

*Interactive tool: enter your values at https://toollantern.win/remittance-cost-calculator/ and results update instantly in your browser.*

## The two costs of every transfer

A remittance has two costs. The first is the **transfer fee**, shown upfront. The second is the **exchange-rate margin**: the gap between the rate you are given and the real mid-market rate banks use with each other. A provider can advertise zero fees and still be expensive if its margin is wide. The only number that matters is what lands in your recipient's account.

## How to read a quote

- **Wise** uses the mid-market rate with a transparent fee on top, often the cheapest for bank deposits.

- **Remitly, LemFi, Sendwave, TapTap Send** charge zero or low fees and earn from the margin; compare the payout, not the fee.

- **Western Union and MoneyGram** have the widest cash-pickup networks but usually the highest total cost.

- **Banks** are usually the most expensive and slowest option on every corridor.

- **PayPal/Xoom** is typically the most expensive digital option, around 5% all-in.

## Corridor cheat sheets

- [US to Philippines](/send-money-us-to-philippines/): Wise usually delivers the most pesos for bank deposits; Remitly and WorldRemit win for GCash and Maya wallets.

- [UK to Nigeria](/send-money-uk-to-nigeria/): LemFi and TapTap Send offer zero fees and near-market rates; Wise is best for large transfers.

- [UAE to India](/send-money-uae-to-india/): Wise, Remitly and Instarem lead on rate; exchange houses charge AED 18-75 per transfer.

- [US to Mexico](/send-money-us-to-mexico/): Wise, Paysend and Sendwave top the rate tables; Western Union wins only for cash pickup.

## Worked example

Sending **$500** to the Philippines at a mid-market rate of 57.79: Wise (fee $7.12, no margin) delivers about **₱28,479**; Remitly (no fee, 4.5% margin) delivers about **₱27,583**. The "free" transfer costs nearly ₱900 more.

## Limitations

Figures are typical as of October 2026 and move daily; providers also run first-transfer promos that beat their standard rates. Always compare the live payout in each app before sending. This calculator does not cover cash-pickup-only routes or crypto P2P options.

## Frequently asked questions
### What is the cheapest way to send money abroad?

Compare the total your recipient receives, not the headline fee. Providers advertising zero fees often take 1-4% in the exchange rate. Specialist apps (Wise, Remitly, LemFi, Sendwave) almost always beat banks and PayPal.

### What is an exchange-rate margin?

It is the gap between the rate a provider gives you and the real mid-market rate. A 2% margin on a $500 transfer costs you $10, even if the advertised fee is $0. This calculator shows the combined true cost.

### Is Wise cheaper than Western Union?

For bank deposits, almost always: Wise uses the mid-market rate with a small transparent fee, while Western Union adds a 2-4% margin on top of its fee. Western Union's advantage is its huge cash-pickup network.

### Does the payment method change the cost?

Yes, a lot. Paying by bank transfer is usually cheapest; debit and especially credit cards add fees. Card-funded transfers are consistently the most expensive way to fund a remittance.

### Are first-transfer promos worth it?

Often yes for one transfer: Remitly and others offer boosted rates for new customers, but only on the first transfer (sometimes only the first $500). Do not assume the promo rate is the ongoing rate.

### How fast do remittances arrive?

App-to-bank transfers typically take minutes to 2 business days. Cash pickup via Western Union or MoneyGram is available within minutes. Remitly's Economy tier takes 3-5 business days but costs less than Express.

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Interactive version: https://toollantern.win/remittance-cost-calculator/