Sending money abroad shouldn’t cost a fortune. Traditional banks and remittance services can quietly deduct 2–3% (or more) through flat fees, poor exchange rates, and intermediary bank charges. Here are five quick, powerful strategies to slash your costs:
- Set Rate Alerts:
Choose a target exchange rate (e.g., 1 USD = 0.92 EUR) on platforms like Wise or Revolut. Receive instant notifications and lock in savings automatically. - Batch Payments:
Upload up to 1,000 recipients in a spreadsheet and send all payments at once. Pay a single small percentage fee instead of multiple fixed fees. - Hold Multiple Currencies:
Keep balances in key currencies (USD, EUR, GBP) and convert in small increments when rates hit your target. - Use a Fee-Transparent Card:
Pay abroad with a Wise debit card and always decline dynamic currency conversion (DCC) to avoid hidden markups. - Automate with API:
Integrate Wise with accounting software to schedule recurring transfers, reducing manual work and errors.
By applying these tips, you can reduce your international transfer fee below 0.3%—often to zero. Start today and keep 100% of your funds.