That doesn’t sound like too much, but it mounts up quickly, and can often cost more than the transfer fee you’re charged. Exchange rate markups vary widely depending on the currency, value of a payment, and the provider itself – around 3% is typical. Palawan Express gives you better transfer fees and foreign exchange rates in the. However, it makes it very hard to see exactly what you’re paying for your transfer, as this fee is bundled up into the rate applied rather than transparently displayed. We work with trusted providers your loved ones are familiar with to make receiving. Convert US Dollar to Indian Rupee with the Western Union currency converter. Instead, banks and currency services add a markup or margin – an extra fee – to the mid-market rate to calculate the retail exchange rate they offer customers.Īdding a markup to the exchange rate used for international payments is very common. With Remitly, you get great rates, low (or zero) fees, and fast transfers. The mid-market exchange rate isn’t usually passed on to customers sending or converting smaller amounts of currency. Send AUD Australian dollar To Search currency Show more The above information applies when you pay in via bank transfer. ![]() That means it’s the rate your bank or international transfer provider gets when they buy and sell currencies themselves. The mid-market exchange rate is the rate which is used when currencies are bought and sold on wholesale markets.
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