Why Small Transfers Cost More (in Percent)
When you send money abroad, providers typically charge a flat fee plus a margin built into the exchange rate. Together, these two components make up your total transfer cost. Because the flat fee is the same whether you send a small or large amount, it eats up a much bigger share of a smaller transfer. Sending $200 might carry the same flat fee as sending $500, but that fee represents a higher percentage of $200. The exchange-rate margin works the same way in percentage terms, but fixed fees are the main reason small transfers almost always cost more proportionally than larger ones.
This mathematical reality is exactly why the World Bank Remittance Prices Worldwide quarterly survey tracks costs at both the $200 and $500 sending amounts. Comparing the two figures for any given corridor helps senders understand how costs scale with transfer size. The survey covers hundreds of country corridors and is updated each quarter, so the figures reflect current market conditions rather than a snapshot that may be months or years out of date. The most recent data available at the time of writing comes from the 2024 Q3 edition, though costs can shift meaningfully between quarters.
The United Nations Sustainable Development Goals include a specific target — often called SDG 10.c — of reducing the global average cost of remittances to 3 percent or below by 2030. Real-world averages tracked by the World Bank survey have consistently remained above that threshold, particularly for the $200 sending amount and for certain corridors in Sub-Saharan Africa and the Pacific.
Because costs vary widely between providers and move each quarter, it is worth comparing options before sending. The cheapest surveyed provider for your corridor this quarter may not be the cheapest next quarter, so you may consider checking updated data close to the time of your transfer.
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Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org (CC BY 4.0). Figures are from the 2024 Q3 survey — surveyed prices, not live quotes.