Quick answer The fee they advertise is not what you pay. A remittance has two costs: the visible fee and the exchange-rate margin, which is almost never advertised. A "zero fee" provider can cost you more than one charging $5, because it gives you a worse rate.
This calculator compares two providers and tells you how much actually arrives to the person receiving the money, which is the only figure that matters.
What your remittance really costs
The fee they advertise is almost never what you pay. The real cost sits in the exchange rate they give you. Compare two providers and see what actually arrives.
Exchange margin—
Total cost—
Exchange margin—
Total cost—
The reference rates built into this tool are indicative and change daily: replace them with the live rate before you decide. The exchange margin is the gap between the real rate and the one the provider gives you, and it is the cost that almost never gets advertised.
The two costs of a remittance
- The fee. The one you see advertised. It can be flat ($4.99) or a percentage. It is the honest part, because it is visible.
- The exchange-rate margin. The provider does not give you the real market rate but a worse one, and keeps the difference. If the real rate is 17.20 and they give you 16.55, they are charging an extra 3.8 % that appears nowhere.
On a $500 transfer, that 3.8 % is $19. Four times the $4.99 fee of the provider that looked expensive.
How to compare in one minute
- Find the real rate: search "1 USD to MXN" and note the number. That is the market reference.
- Open both providers and check the rate each one gives for the amount you are sending. You do not have to guess: before you pay, the law requires them to show the exchange rate, fees and taxes, and the exact amount that will arrive, and you generally have 30 minutes afterwards to cancel at no cost (CFPB).
- Enter the four figures above. Fee and rate for each.
- Look at one number only: how much arrives. Everything else is noise.
Tricks that add cost quietly
- "Zero fee" or "first transfer free". Almost always offset in the exchange rate. Always check both numbers together.
- The rate changes with how you pay. A credit card usually gets a worse rate, and your bank may treat it as a cash advance and charge interest from day one.
- The rate changes with how it is collected. Cash pickup usually comes out worse than a deposit to an account.
- Flat fees on small transfers. A $5 fee is 1 % on $500 and 5 % on $100. Grouping transfers usually costs less.
- The advertised rate is not yours. Many advertise the best possible rate, reserved for large amounts or one specific payment method.
How much you can save in a year
On a monthly $500 transfer, a gap of just 3 percentage points between two providers is about $180 a year.
In short
Do not compare fees: compare how much arrives. It is the only figure that cannot be dressed up.
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