2 min

How to send money home for less

The real cost isn't just the fee: it's also the exchange rate.

When you send money, you pay two ways: the fee they charge, and the gap between the exchange rate they give you and the real market rate.

Example

You send $200. Service A charges $0 but gives 17.20 pesos per dollar. Service B charges $3 but gives 17.60. With A, 3,440 pesos arrive; with B, 3,467. The "no fee" one costs more.

Compare how much your family receives in the end, not just the fee.
Sending once a month instead of every week can save fees.
When the exchange rate improves, that's a good day to send.