The exchange rate
The applicable transaction rate determines how one currency converts into another. A public reference rate is useful for comparison but is not itself executable.
Understanding costs
Rate + fees + final outcome
See the whole cost.
Q Money starts with the whole outcome: the applied rate, fees and final recipient amount considered together.
Cost anatomy
Three moving parts
Read beyond one number.
The visible rate begins the comparison. The complete outcome also depends on the costs attached to a specific payment route.
Service fees
A provider may apply a fee based on the payment, currency, channel or service. The way it is presented can vary.
Third-party charges
Other institutions involved in a payment may apply charges. Whether they apply depends on the transaction route and service terms.
Compare the outcome
Like with like
Ask for enough information to compare the full outcome.
A low visible fee does not by itself establish the total cost. Use the same sending amount and recipient currency when comparing alternatives.
- What exact amount leaves the sender?
- What exact amount is expected to reach the recipient?
- Which exchange rate is being applied?
- Which fees are included, and which may be charged elsewhere?
- How long is any transaction-specific price available?
What this website provides
Reference rates set the context. A transaction price needs confirmation.
Rates shown on this website are indicative reference rates for information and comparison only. They are not executable transaction rates. Transaction-specific pricing, fees and margins are not provided by this website. Contact Q Money with general questions about how costs are considered.