Providers
What each kind of provider advertises
Five archetypes rather than five brands, because the shape of the pricing is what repeats. Replace them with the competitors you are actually quoted against.
Retail bank
High-street bank
A single transfer fee, stated up front
A flat wire fee, a correspondent deduction you never see quoted, and the widest rate markup on this list.
3.4%
rate markup
0%
percentage fee
Money transfer app
App transfer
The real exchange rate, no markup
Genuinely cheap on the rate, and the percentage fee is the part that grows with the amount.
0.35%
rate markup
0.55%
percentage fee
FX broker
Zero-commission broker
0% commission
Nothing is charged as a fee. Everything is charged in the rate, which is why the headline can be true and the transfer still expensive.
2.9%
rate markup
0%
percentage fee
Card rails
Card network payout
Arrives in minutes
Fast and predictable, with a percentage that does not fall as the amount rises.
1.1%
rate markup
1.9%
percentage fee
Platform payout
Marketplace payout
Free payouts to your account
Priced for the platform rather than the recipient: a small fee, a moderate markup, and a receiving bank charge at the far end.
1.8%
rate markup
0.25%
percentage fee