Remittance Calculator
The real cost of sending money abroad.
Calculate the real cost of an international remittance, including fixed fees, percentage fees, and FX markup above the mid-market rate.
What this tool does
This calculator models the all-in cost of sending money internationally by combining three separate charges: a fixed fee per transfer, a percentage-based fee applied to the amount sent, and an exchange rate markup above the mid-market rate. Enter your transfer amount, fixed fee, percentage fee, FX markup percentage, and how many times per year you send money abroad. The calculator then estimates your total annual cost across all transfers. The result shows the cumulative impact of these charges, which often varies significantly depending on transfer size and frequency. Exchange rate markup typically drives the largest variation in total cost, especially for larger amounts. This calculation illustrates simplified remittance pricing and does not account for promotional rates, tiered fees, or variations between different service providers.
Enter Values
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Formula Used
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Calculations or display — let us know.
Disclaimer
Results are estimates for educational purposes only. They do not constitute financial advice. Consult a qualified professional before making financial decisions.
International money transfer costs combine fixed fees, percentage fees, and FX markups. Traditional banks charge 5-10% total; services like Wise or Remitly charge 1-3%. On 500 transfer, that's 25-50 difference. This calculator quantifies true cost.
500 transfer, 5 fixed fee, 1% percentage, 0.5% FX markup: 12.50 total cost (2.5%). Per year at 12 transfers: 150. Switching to cheaper service saving 1% saves 5/transfer, 60/year.
Use for any international transfer decision. Compare Wise vs bank vs Western Union on identical transfer. Factor in all three cost components - fixed fees hurt small transfers; percentage fees hurt large; FX markups are often invisible.
A worked example
Try the defaults: amount sent of 500, fixed fee of 5, percentage fee of 1%, fx markup of 0.5%. The tool returns 12.50. You can adjust any input and the result updates as you type — no submit button, no reload. That's the real power here: seeing how sensitive the output is to one or two assumptions.
What moves the number most
The result responds to Amount Sent, Fixed Fee, Percentage Fee, FX Markup %, and Transfers per Year. Not every input has equal weight. Adjusting one input at a time toward extreme values shows which ones move the result most.
The formula behind this
Total cost = fixed + (amount × percentage) + (amount × FX markup). Annual = per-transfer × count. Everything the calculator does is shown in the formula box below, so you can check the math against your own spreadsheet if you want.
What the bill doesn't show
Standing charges, discounts, and usage tiers all blur the effective rate. The calculation here backs out the total so you're comparing apples to apples across providers, regardless of how each one packages the price.
What this doesn't capture
Usage varies month-to-month; tariffs change; discounts come and go. The figure here is a clean baseline — your actual annual bill will fluctuate around it. Use the calculation to benchmark providers, not as a prediction of a specific bill.
££500 transfer + ££5 + 1% + 0.5% FX × 12/yr = 12.50.
Inputs
This example uses typical values for illustration. Adjust the inputs above to match a specific situation and see how the result changes.
Sources & Methodology
Methodology
Total cost = fixed + (amount × percentage) + (amount × FX markup). Annual = per-transfer × count.
References
Frequently Asked Questions
Where to find FX markup?
Why does transfer size affect which provider is cheaper?
What costs does this calculator not include?
How do I estimate my percentage fee if the provider only shows a flat rate?
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