Compare the true cost of sending money internationally across providers. Bank wires hide fees in the FX rate.
| Provider | Flat fee | FX margin | Total cost | Recipient gets |
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Your breakdown
Updates live as you type| Provider | Flat fee | FX margin | Total cost |
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The fee hiding in the exchange rate
The advertised wire fee is rarely the real cost of sending money abroad. The larger charge is usually invisible: a markup baked into the exchange rate. When a bank quotes you a rate that is two to four percent worse than the mid-market rate, that gap is pure margin, and on a five-figure transfer it dwarfs the flat fee printed on your statement. This comparison combines both pieces, the upfront flat fee and the percentage FX margin, so you can see the total cost and the actual amount that lands in the recipient's account.
The mid-market rate is the midpoint between the buy and sell prices on the global currency market, the rate you see on a financial news site before anyone adds a spread. It is the honest benchmark. Enter today's mid-market rate for your currency pair, and the tool measures every provider's quote against it. The default of 83.5 reflects a typical USD to INR rate, but the same logic applies to any corridor.
How each provider stacks up
The five options compared here span the realistic spectrum. Wise charges a small flat fee around $6.50 and a thin margin near 0.45 percent. Revolut on its standard tier charges no flat fee but a 1.5 percent margin, and OFX sits at 1.0 percent with no flat fee. A traditional Chase or Bank of America wire carries a $45 flat fee stacked on top of a 3.0 percent rate markup, and Western Union runs a $10 fee with a 2.5 percent margin. The tool deducts the flat fee first, applies the margin to what remains, then converts the leftover at the mid-market rate to show what the recipient receives.
Sending $10,000 to India
Send $10,000 at a mid-market rate of 83.5. With Wise, the $6.50 fee comes off first, the 0.45 percent margin on the remaining $9,993.50 is about $45, so the total cost is roughly $51 and the recipient receives around 830,702 rupees. Run the same transfer through a traditional bank wire and the $45 fee plus a 3.0 percent margin on $9,955 produces a total cost near $344, delivering about 806,305 rupees. The bank costs roughly $293 more for moving the identical amount, and almost none of that gap is the visible fee.
Reading the result like a pro
A few caveats keep this honest. The margins used here are representative, not live quotes, and they move. Wise in particular shows its true rate and fee before you confirm, so check the live figure at send time. Revolut's premium tiers waive part of the margin up to a monthly allowance, which can beat the standard 1.5 percent shown here for smaller transfers. Speed is a separate axis from cost. A same-day bank wire may genuinely be worth its premium when a closing or a deadline is on the line, whereas a one to two day transfer is usually fine for routine remittances. Watch for receiving-bank or intermediary charges too, since the recipient's bank can skim a flat fee on incoming international wires regardless of who you sent through.
This tool is for anyone sending a meaningful sum across borders: families remitting money home, freelancers paying overseas contractors, or buyers funding a property deposit abroad. The core lesson holds at almost every amount. On large transfers the percentage margin, not the flat fee, decides the winner, so always read the rate, not just the headline fee.
Does the cheapest option change with the amount sent?
Yes. On small transfers a flat fee weighs heavily, so a zero-fee provider like OFX can edge out Wise. As the amount climbs, the percentage margin dominates and the low-margin providers pull ahead. Re-run the tool at your real amount rather than trusting a single ranking.
Are these transfers reported to the IRS?
Sending your own money abroad is not taxable, but banks and money services file currency transaction reports for transfers of more than $10,000, and U.S. persons with foreign accounts may have FBAR or Form 8938 filing duties. Large gifts to or from foreign persons can also trigger Form 3520. Moving money is not a tax event by itself, but the reporting thresholds are worth knowing.