We always use the real exchange rate and charge a transparent fee, no matter how much money you send with us. And the more you send with us, the more you save on fees.
How do our fees work?
When you send over 100,000 GBP (or equivalent in your currency) over a calendar month, you’ll get a lower fee on the amount you send over the limit.
The lower fee applies on one-off transfers or multiple, completed transfers in the same month. And it doesn’t matter how many currencies you send to and from — you can still get the lower fee.
How much is the fee?
The more you send, the lower your fee is. This table shows the percentage discount depending on your monthly volume.
|Volume (GBP)||Discount (%)|
This works a bit like tax brackets. So, just like you pay no tax on the first part of your income, then a progressively higher percentage on the next parts of your income — you only get the lower fee on the amount that falls in each bracket.
The thresholds are calculated in GBP. So, if you normally send USD, we’ll work out whether you’re in the bracket to get a lower fee using the live exchange rate.
You don’t need to work the fee out yourself. We’ll always automatically apply it to your transfer.
An example of how the fee works
Let’s say that in January, you send 2 transfers of 100,000 GBP to EUR, and 1 transfer of 500 GBP to EUR.
On the first transfer, we’ll charge our normal fee for sending GBP to EUR by bank transfer, which is 0.35%. There’s no discount on it, because it’s less than 100,000 GBP.
On the second and third transfers we’ll charge 0.25%, because you’re in the second bracket and now qualify for the lower fee. So even when you’re sending smaller amounts in January, you’ll get the lower fee.
Over the course of the month, that’s an average fee of 0.3%.
If you send that 200,500 GBP in one go instead of in 3 transfers, you’ll get the same average fee of 0.3%.
Remember, a transfer needs to be completed — that is, sent out to the recipient — before it'll count towards your threshold. If we look at our example again, that means if you only set up that first transfer of 100,000 GBP, you wouldn't get the lower fee on the next 100,000 GBP.
You can calculate your average fee here.