Liberate your money: free, fast international transfers with Wirex
Apr 24, 2018, 12:56:21 PM Published By Wirex Team
International money transfers are an essential part of the lives of millions of people worldwide. Exchange students. Expats. Migrant workers. Digital nomads. Gap year travelers. Freelancers with international clients. Frequent fliers. The list is endless. Chances are high youve sent money abroad at some point or received an international transfer. Whats certain is that you were hit over the head with enormous bank fees. Even if you tried to calculate how much you would be paying upfront, bank fees are often confusing and misleading. Most people who make an international transfer via their bank have no idea what it will cost. Even if you think you know, banks love to add on hidden fees and inflated conversion rates. By the time you find out exactly what an international transfer cost, its too late. Youve been completely ripped off. Many banks will charge as much as 50 to send money abroad and they may charge the recipient as much as 20 to receive it. If theres a currency conversion involved, you may also need to pay a fee as high as 5%. So, if you send 2000 abroad, the recipient could get as little as 1830. Maybe youve just accepted eye-watering international transfer fees as a part of life. Its not ideal, nor is it exactly fair - but until recently, there was no alternative. If youre working internationally or supporting loved ones around the world, its time to stop letting your bank line their pockets with your hard-earned money.