How to avoid extra costs when transferring money to home in another country





We live in a global village and that’s a fact, which means our income and expenses are no longer necessarily limited to the country we live in.

For many of us, sending money abroad or receiving payments from a client/family member in another country is relatively common.

Whether you’re an expat, a freelancer with foreign clients, an international student or own property abroad, you are probably familiar with this necessary evil. And, with excessive bank charges and extended waiting periods, evil it often is.

However, as the need for more user-friendly international money transfer has grown, so have the number of financial start-ups offering banking alternatives.

Why banks aren’t always a wise way to send money home?

Regardless of where you have an account, banks tend to offer poor exchange rates and are also often guilty of levying hidden charges.

Before sending money abroad, be sure to ask your bank what:

1.Their transfer charge would be for your transaction.

2.The recipient bank’s receiving fee is expected to be.

3.Their current exchange rate is – they usually set their own, which will often be quite a bit more than the forex market rate

Once you have this information, you can establish how large a chunk of your money will essentially get lost in translation.

To avoid an extra fee, you need to know about the exchange rate well. it is more important than transaction fee in sending money. Some payment providers provide you with relatively low fees but you don’t know how weak the exchange rate is. 

Since the currency conversion fee is not declared, you’ll need to calculate it yourself. You can calculate it is to divide the currency conversion rate that they give you by the inter-bank rate at the time of the transfer. The inter-bank rate is the rate at which banks trade with each other. It’s the true market rate for exchanging currencies. You can find the inter-bank rate at

Which online payment provider never earn money from the exchange rate?

Since there are a growing number of financial start-ups that are offering much more affordable alternatives to high street banks for sending money abroad, Epay is on my top choice.

Background Epay is a professional payment company. Dedicated to doing international payments in the past 5 years. Epay has accumulated rich experience in how to make every payment safe. It has branches in mainland China, Hong Kong(China), Samoa, England, USA and Lithuania.

Fee & Exchange rate  Epay provides a reasonable fee and mid-market exchange rate. For example, if you are a Filipino domestic worker in Hong Kong, it is no doubt that you need to send money back to the Philippines every month. and if you send money with Epay, they charge you 12 HKD only no matter how much you send. Except for a lower fee, Epay also provides a high exchange rate than many of others. You can feel free to compare before sending money.

Here is the official website of Epay: Try to compare more before deciding to select one to send money home.


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