What does 0% commission money transfers mean?
Buyers beware: Any time you see a money transfer broker, bank or airport bureau boasting ‘we offer 0% commission money transfers’ or ‘no transfer fees’, don’t be fooled into thinking it’s free to send money abroad. This is a marketing gimmick.
International money transfer companies make profit in two ways:
- through a fixed transfer fee
- via profit built into the rate of exchange
The difference between a good and bad money transfer deal will often be guided by the exchange rate.
At CurrencyTransfer, we don’t charge any transfer fee. We’re also committed to 100% price transparency, so we display clearly the market rate versus your sell rate, side by side.