Free tool · runs in your browser
Remittance Cost Calculator
Enter the amount, the provider's fee, the rate offered and an independent mid-market rate. The output is the recipient's amount and the all-in cost of the transfer.
Use the rate you can verify independently on the same day. The difference between the offered and mid-market rate is the FX margin, and it is often larger than the transfer fee.
The fee line is not the cost
A transfer can charge a visible fee of five and still cost two percent, because the exchange rate is two percent worse than the mid-market rate. The only honest comparison is the amount the recipient receives against the mid-market value of the same money before fees.
Ask for the rate and the fee separately, note the time, and check the mid-market rate at the same moment. A quote without a timestamp cannot be compared with another quote.
Receiving-side fees finish the calculation
Some corridors charge the recipient's bank a handling fee, and some intermediate banks deduct a correspondents' fee. The sender sees a completed transfer; the recipient sees less. Ask the recipient what actually landed, then use that number.
For small transfers, the fixed receiving fee can dominate the percentage cost. Consolidating two transfers into one often saves more than switching providers.
Frequently asked questions
Where do I find the mid-market rate?
Use an independent currency reference that shows the mid rate, not a provider's own quote. Record the time, because the comparison is only valid for the same moment.
Is a negative cost possible?
Not in a normal transfer. If the result is negative, the offered rate is better than the reference rate you entered; check that both are for the same currency pair and time.
Does the calculator include tax?
No. Remittance taxes and reporting thresholds vary by country. This calculator measures provider and banking costs only.
Why annualise the cost?
A five-dollar fee looks small once, but twelve transfers turn it into a visible annual line. Annualising makes the cost comparable with other recurring expenses.