You go to a money transfer company, you want to give them YOUR business. They ask you $10 to send the money transfer across… Who should pay this?
You? Them? Both?
Well, let’s look at it…
- If you pay, then they give you a better rate, as they won’t have to make the money off the FX
- If they pay, then they will make this money off the FX and the FX rate might not be that favorable.
- In most cases you both pay, giving you a half-way-decent FX rate and smaller fees to pay.
It also depends, if this is on the send side or on the receive side. Watch this video to get my answer/opinion.
This page was last updated on March 3, 2020.