Why a "zero fee" transfer can be the most expensive
A transfer has two costs: the fee you see, and the exchange-rate margin you don’t. Many providers advertise "no fees" but give you a worse rate than the real market rate, and that difference is kept by them. On a transfer to Nigeria, Kenya or Ghana it can be larger than any fee.
This is why the only fair comparison is the amount your family receives for the total you pay. That is how this tool ranks the options.
How to use it
Open two or three transfer apps or websites, choose the same amount and destination, and copy the fee and the exchange rate each one shows on the last screen before paying. Add them here as options. The reference rate (the mid-market rate, without margin) is filled in automatically when available, so you can see what each option really costs you.
Sending money to Sub-Saharan Africa is the most expensive in the world on average, according to the World Bank, so a few minutes of comparison regularly saves real money.
Frequently asked questions
Is this tool linked to any money transfer company?
No. We do not take money from transfer companies and we do not name or rank brands. You enter the offers you see yourself.
What is the reference rate?
It is the mid-market rate between the two currencies, without any margin. Banks and transfer companies rarely give it, but it is the fair benchmark to measure their margin against.
Why is the received amount different in the app?
Rates change during the day and some providers round amounts or charge the receiving side. Always check the final amount on the confirmation screen.
Is my data saved?
No. The comparison runs in your browser. Only the request for the reference rate goes to the exchange-rate service, and it contains no personal data.
Sources
The tool compares the figures you enter. The final amount is the one the provider confirms when you send. Disclaimer.