How Much Does It Really Cost to Send Money Abroad? A Full Breakdown

Introduction

Many people are unaware of the real costs behind international money transfers. Between fees, exchange rates, and hidden charges, transfers can become more expensive than expected.

This guide explains each cost clearly — and how SwiftTransfer avoids unnecessary markups.

1. Transfer Fees

Providers charge differently depending on:

• Country

• Speed

• Payment method

• Payout method

SwiftTransfer uses clear, upfront pricing so users always know what they’ll pay.

2. Exchange Rate Markups (The Hidden Cost)

Most providers add their profit inside the exchange rate.

Example:
Real rate → 1 GBP = 94 GMD
Provider rate → 1 GBP = 90 GMD

The difference goes to them.

SwiftTransfer removes hidden markups.
What you see is what you get.

3. Speed of Transfer

Instant transfers may cost more, but SwiftTransfer optimizes transfer paths to keep costs low and speed high.

4. Payment Method

Card fees, bank transfers, wallet deposits — each has a different cost. SwiftTransfer offers multiple options so the user chooses what's cheapest.

5. Receiving Method

Bank deposits, wallet payouts, and cash pickups all have different pricing structures across countries.

Sources

• World Bank – Remittance Prices Worldwide
  https://remittanceprices.worldbank.org

• European Central Bank – Cross-Border Payments Reports
  https://www.ecb.europa.eu/pub/economic-research/index.en.html

• BIS – Exchange Rate & Payment Systems Research
  https://www.bis.org/topics/payment_systems.htm

• FCA – Cross-Border Payment Transparency Rules
  https://www.fca.org.uk/firms/psd-psr

• Wise (TransferWise) – Exchange Rate Comparison Research
  https://wise.com/gb/blog/what-is-the-real-exchange-rate

  Internal Links

• Our real-time exchange rates → /rates

• Learn how we keep costs low → /why-swifttransfer

• Our supported transfer methods → /how-it-works