What's the cheapest way to send money abroad?
There is no single cheapest rail — it depends on the corridor and how the recipient collects. For bank-to-bank transfers in major corridors, a mid-market fintech is usually cheapest all-in. For cash pickup, a remittance network wins despite a higher headline fee. Stablecoins are cheapest when both ends already hold crypto, and often the most expensive once you price the local cash-out.
Count all three costs, not the advertised fee
Every transfer has a flat fee, an exchange-rate margin against the mid-market rate, and a receiving cost. Providers advertising 'zero fees' typically take 1.5-3% in the rate. Providers advertising a transparent rate charge a visible fee instead. Only the sum matters.
- Flat fee: visible, usually the smallest component
- Rate margin: the biggest and least visible cost
- Receiving cost: local bank charges, cash-pickup fees, off-ramp spreads
Where stablecoins actually win
The on-chain leg is genuinely near-free and near-instant. The cost lives at the edges: getting fiat in, and getting local currency out. In corridors with a deep local P2P market and a competitive off-ramp, the all-in cost can beat every fintech. In corridors where the only off-ramp is an exchange with a 2% spread and a bank withdrawal fee, it does not.
Frequently asked
- Does the amount change which provider is cheapest?
- Substantially. Flat fees dominate small transfers, so percentage-based rate margins matter more the larger you send. The corridor calculator recomputes the ranking for your amount.
- Is a bank wire ever the cheapest option?
- Rarely for consumer amounts. Between two accounts at the same multinational bank it can be, because there is no correspondent leg.