What is the cheapest way to send money internationally?

Wise (formerly TransferWise) is consistently the cheapest service for international money transfers, using the real mid-market exchange rate with transparent fees averaging 0.5-1.5% of the transfer amount. Remitly is also competitive for many corridors. Western Union, MoneyGram, and bank wire transfers are typically the most expensive due to exchange rate markups of 2-4% above mid-market rate in addition to stated fees.

What is a hidden transfer fee?

Most money transfer services make their real profit on the exchange rate markup — charging a rate worse than the real mid-market rate. A service advertising zero fees often charges 3-5% in exchange rate markup. On a $1,000 transfer a 3% markup costs $30 regardless of the stated fee. The true cost of any transfer is the stated fee plus exchange rate markup combined.

How do I compare money transfer services?

Compare money transfer services by looking at two things: the stated transfer fee and the exchange rate offered versus the real mid-market rate. The mid-market rate is the rate shown on Google or XE.com. Any rate worse than that is an exchange rate markup — a hidden fee. Add the transfer fee and the exchange rate markup together to get the true total cost.

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Money Transfer Comparison — Find the Cheapest Way to Send Money Internationally

Live exchange rates · 60 countries · True total cost including hidden FX markup · No signup

QUICK ANSWER

Sending $500 to Mexico via Western Union costs approximately $9.99 in fees plus a 2.5% exchange rate markup totaling about $22 in real cost. The same transfer via Wise costs about $4.50 in fees with near-zero exchange rate markup — a total saving of $17. On $500 monthly to family abroad that difference saves $204 per year.

International money transfers have two costs: the stated transfer fee and the hidden exchange rate markup. Most services show a low fee but profit on the exchange rate by charging 2-5% above the real market rate. This calculator shows true total cost including both. Live exchange rates are updated daily.

Compare Transfer Costs

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Amount to send ($)

Send to

Delivery speed

Live rate: $1 USD = 17.2 MXN|Mid-market · services charge above this

🏆 Best Deal

Wise

Recipient gets: MX$8,480 MXN

Your total cost: $7.00

💰 You Save

Using Wise vs Bank Wire

$45.50

per transfer · $546.00 per year if monthly

Sending $500.00 to Mexico — sorted by most received

#1 Best ✅Wise1-2 business days

Recipient gets

MX$8,480 MXN

Transfer fee

$4.50

FX markup

0.5% (+$2.50)

Total cost

$7.00

Recipient gets MX$262.5 MXN more than via Western Union

#2Remitly3-5 business days

Recipient gets

MX$8,420.3 MXN

Transfer fee

$2.99

FX markup

1.5% (+$7.50)

Total cost

$10.49

Recipient gets MX$202.9 MXN more than via Western Union

#3MoneyGram1-3 business days

Recipient gets

MX$8,308.8 MXN

Transfer fee

$1.99

FX markup

3.0% (+$15.00)

Total cost

$16.99

Recipient gets MX$91.3 MXN more than via Western Union

#4Western Union1-3 business days

Recipient gets

MX$8,217.5 MXN

Transfer fee

$9.99

FX markup

2.5% (+$12.50)

Total cost

$22.49

#5PayPal / Xoom1-3 business days

Recipient gets

MX$8,173.6 MXN

Transfer fee

$4.99

FX markup

4.0% (+$20.00)

Total cost

$24.99

#6 Most expensiveBank Wire3-5 business days

Recipient gets

MX$7,718.1 MXN

Transfer fee

$35.00

FX markup

3.5% (+$17.50)

Total cost

$52.50

If you send $500.00 every month

Cheapest option

$7.00/transfer

Wise

Most expensive option

$52.50/transfer

Bank Wire

Monthly savings

$45.50/mo

Annual savings

$546.00/yr

Transfer fees and exchange rate markups shown are approximate 2026 estimates for educational comparison. Actual rates vary by amount, country, payment method, and promotional pricing. Always verify current rates directly before transferring.

All service names are for comparison only. No affiliate links. No links to any service provided.