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FinToolSuite
Updated 2026-05-14 · Utilities · Educational use only ·
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Remittance Calculator

The real cost of sending money abroad.

Calculate the real cost of an international remittance, including fixed fees, percentage fees, and FX markup above the mid-market rate.

What this tool does

This calculator models the all-in cost of sending money internationally by combining three separate charges: a fixed fee per transfer, a percentage-based fee applied to the amount sent, and an exchange rate markup above the mid-market rate. Enter your transfer amount, fixed fee, percentage fee, FX markup percentage, and how many times per year you send money abroad. The calculator then estimates your total annual cost across all transfers. The result shows the cumulative impact of these charges, which often varies significantly depending on transfer size and frequency. Exchange rate markup typically drives the largest variation in total cost, especially for larger amounts. This calculation illustrates simplified remittance pricing and does not account for promotional rates, tiered fees, or variations between different service providers.

Quick answer: with the default values, the result is $12.50 (Cost Per Transfer). Adjust the values below for your own figures.

Enter Values

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Formula Used
Fixed fee
Amount
Percent fee
FX markup

Disclaimer

Results are estimates for educational purposes only. They do not constitute financial advice. Consult a qualified professional before making financial decisions.

International money transfer costs combine fixed fees, percentage fees, and FX markups. Traditional banks charge 5-10% total; services like Wise or Remitly charge 1-3%. On 500 transfer, that's 25-50 difference. This calculator quantifies true cost.

500 transfer, 5 fixed fee, 1% percentage, 0.5% FX markup: 12.50 total cost (2.5%). Per year at 12 transfers: 150. Switching to cheaper service saving 1% saves 5/transfer, 60/year.

Use for any international transfer decision. Compare Wise vs bank vs Western Union on identical transfer. Factor in all three cost components - fixed fees hurt small transfers; percentage fees hurt large; FX markups are often invisible.

A worked example

With the defaults: amount sent of 500, fixed fee of 5, percentage fee of 1%, fx markup of 0.5%. The tool returns 12.50.

What moves the number most

The result responds to Amount Sent, Fixed Fee, Percentage Fee, FX Markup %, and Transfers per Year.

The formula behind this

Total cost = fixed + (amount × percentage) + (amount × FX markup). Annual = per-transfer × count.

What the bill doesn't show

Standing charges, discounts, and usage tiers all blur the effective rate. The calculation here backs out the total so you're comparing apples to apples across providers, regardless of how each one packages the price.

What this doesn't capture

Usage varies month-to-month; tariffs change; discounts come and go. The figure here is a clean baseline — your actual annual bill will fluctuate around it. Use the calculation to benchmark providers, not as a prediction of a specific bill.

Example Scenario

£500 transfer + £5 + 1% + 0.5% FX × 12/yr = $12.50.

Inputs

Amount Sent:£500
Fixed Fee:£5
Percentage Fee:1%
FX Markup %:0.5%
Transfers per Year:12
Expected Result$12.50
Expected Result breakdown
Effective Cost %2.50%
Annual Cost$150.00
Fixed Fee$5.00
FX Markup$2.50

This example uses typical values for illustration. Adjust the inputs above to match a specific situation and see how the result changes.

Sources & Methodology

Methodology

Total cost = fixed + (amount × percentage) + (amount × FX markup). Annual = per-transfer × count.

Frequently Asked Questions

Where to find FX markup?
Compare provider's rate to Google's mid-market rate. Difference is markup. Banks typically 2-5%, Wise 0.3-0.7%, Western Union 3-6%. The hidden FX markup often exceeds visible fees.
Why does transfer size affect which provider is cheaper?
Fixed fees hurt small transfers disproportionately, while percentage-based fees and FX markup scale with the amount sent. A provider with a high fixed fee but low FX markup becomes relatively cheaper as transfer size increases, while the opposite is true for providers with no fixed fee but a higher markup. Running the calculator at your actual transfer amount gives a more accurate comparison than general rankings.
What costs does this calculator not include?
The calculator excludes recipient bank fees, intermediary correspondent bank charges, and any taxes or regulatory fees in the destination country. It also does not model promotional rates, loyalty discounts, or tiered pricing that some providers apply above certain thresholds. Real-world costs can therefore be higher or lower than the estimate depending on the specific corridor and provider.
How do I estimate my percentage fee if the provider only shows a flat rate?
If a provider charges only a fixed fee with no stated percentage, enter 0 in the percentage fee field and input the flat amount in the fixed fee field. Some providers bundle their margin entirely into the exchange rate rather than charging a separate percentage fee, in which case only the FX markup field applies. Checking the provider's fee disclosure page or help center usually clarifies which fee structure they use.

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