Q1 2022 Mission Update: Price

Martina Presnajderova
05.05.22
1 minute read

In Q1 we rolled out several changes on fees:

  • We decreased fees when you send money to United Arab Emirates, South Africa, Kenya and Ukraine.

  • Additionally, processing cost changed for us on some convenient pay-in methods - therefore we needed to change fees on several currencies when you fund your payment via Credit / Debit card - we increased fees on for example USD or EUR. On good note - on some other currencies we were able to take fees down (such as sending from Australian dollar).

  • Lastly, unfortunately due to volatility in markets in Turkey led us to increase fees when you send to Turkish Lira.

In Q1, 189k customers got cheaper fees, while 634k experienced a fee increase. Overall this led to our average fee to increase from 0.60% to 0.61%.

Here are some of our changes in numbers, the changes in fees on equivalent of sending £1.000:

Differnce in fees, ££Difference in fees %For example if you send...
Sending GBP Low cost to KES- £0.9-9.4%.. sending £1k GBP Low cost to KES, you save £0.9, 9.4% decrease.
Sending Sending GBP Low cost to AED-£5.8-47.4%.. sending £1k GBP Low cost to AED, you save £5.8, 47.4% decrease.
Sending GBP Low cost to ZAR-£1.3-11.5%.. sending £1k GBP Low cost to ZAR, you save £1.3, 11.5% decrease.
Sending GBP Low cost to UAH-£10.8-66.5%.. sending £1k GBP Low cost to UAH you save $10.8 , 66.5% decrease.
Sending AUD Debit Card to GBP-£1.4-14/9%.. sending 1.75k AUD via Debit Card to GBP, you save £1.4, 14.9% decrease.
Sending NOK Consumer Fast & Easy to GBP-£0.5-7.0%.. sending 11.34k NOK via Consumer Fast and Easy to GBP, you save £0.5, 7% decrease.
Sending DKK Consumer Fast & Easy to GBP+£0.5+5.8%.. sending 8.93k DKK via Consumer Fast and Easy to GBP, fee increases £0.5, 5.8% increase.
Sending USD Consumer Debit to GBP+£0.8+4.7%.. sending 1.32k USD via Consumer Debit to GBP, fee increases £0.8, 4.9% increase.
Sending GBP Low cost to TRY+£4.4+66.1%... sending £1k Low Cost to TRY, fee increases £4.4, 66.1% increase.

Low cost = sending money from your bank account
**Fast & Easy **= send money from your debit or credit card

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