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Updated October 9, 2026
Remittance Cost Calculator
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.
Recipient receives
| Provider | Recipient receives | True cost |
|---|
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: Wise usually delivers the most pesos for bank deposits; Remitly and WorldRemit win for GCash and Maya wallets.
- UK to Nigeria: LemFi and TapTap Send offer zero fees and near-market rates; Wise is best for large transfers.
- UAE to India: Wise, Remitly and Instarem lead on rate; exchange houses charge AED 18-75 per transfer.
- 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.
Planning estimate only. Results use the list prices shown and may differ from your actual bill. Terms
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.