How to Save More
The True Cost of Sending Money Abroad
29 December 2025
Discover the true cost of remittance, from hidden fees to exchange rate markups, and learn how to save more when sending money abroad.
When sending money abroad, many people believe the transfer fee is the only cost to consider. But in reality, there’s much more behind the numbers. The true cost of remittance includes hidden fees, exchange rate markups, and other charges that can quietly eat into the amount your loved ones receive.
Understanding these costs can help you save more and send more home — ensuring every dollar of your hard work truly reaches those who matter most.
Breaking Down the Real Cost of Remittance
Let’s look closer at what really goes into the cost of sending money internationally:
- Transfer Fees — The most visible charge—typically a flat fee or a small percentage of your transaction.
- Exchange Rate Markups — Some providers offer lower exchange rates than the market rate, which means your recipient gets less local currency.
- Receiving Fees — In some cases, banks or local partners charge the receiver a small fee upon collection.
- Hidden Charges — Unexpected costs like intermediary bank fees or third-party service deductions that appear after you send the money.
Even if these seem small, together they can reduce how much your recipient actually receives.
How These Costs Affect the Recipient
Every cent counts when supporting family back home. A few dollars lost to fees and exchange rate differences each time can add up to hundreds over a year — money that could have gone to groceries, tuition, or healthcare.
That’s why transparency matters. Knowing exactly what you’re paying for helps ensure your hard-earned money goes where it’s meant to — into the hands of those you care the most.
How to Save More When Sending Money Abroad
You can take control of you remittance costs with a few smart habits:
- Compare providers regularly to find the best exchange rates and lowest fees.
- Send larger, less frequent transfers to reduce per-transaction fees.
- Avoid peak times (such as major holidays) when fees or processing times may increase.
- Use digital platforms for faster, lower-cost transfers.
- Track exchange rates and promotions to send when the value is best.
These small adjustments can make a big difference over time.
Why Digital Platforms Offer Better Value
Digital remittance apps are transforming the way people send money. Because they operate online, they have lower overhead costs than traditional banks or money transfer agents—savings that are passed directly to you.
With OTT Remit, senders benefit from:
- Competitive exchange rates
- Transparent, upfront fees
- Fast and secure transfers
- Real-time tracking and instant notifications
It’s remittance made simple, affordable, and built for modern needs.
Common Costly Mistakes to Avoid
Even experienced senders can lose money through avoidable errors. Some common pitfalls include:
- Ignoring exchange rate differences between providers
- Choosing convenience over cost without comparing options
- Missing special offers or loyalty discounts
- Using unverified or informal channels, which risk both money and security
Avoiding these mistakes can help you make the most of every transaction.
How OTT Remit Helps You Save More
At OTT Remit, transparency and affordability are at the heart of what we do. With:
- Clear, competitive fees (no hidden costs)
- Instant transfers to many destinations
- Secure, regulated operations
- User-friendly digital tools that simplify every step
You can trust OTT Remit to help you send more of what truly matters—safely, quickly, and affordably.
Conclusion
Sending money abroad is about more than numbers—it’s about care, love, and responsibility. By understanding the trust cost of remittance and making informed choices, you can ensure your family receives the full value of your hard work.
With OTT Remit, yo don’t just transfer money—you send more love home, with less stress and greater savings.
Disclaimer: The views and opinions expressed by the authors in this publication are their own and do not necessarily reflect the views of OTT Remit, OTT Financial Inc., and the OTT Group of Companies. This publication is provided for general information purposes only and should not be considered as exhaustive or comprehensive in covering all aspects of the discussed topics. It is not intended to replace seeking advice from a specialist or professional.
How To Send Money with OTT Remit
Follow three simple steps to send money quickly and securely to loved ones anywhere in the world.
Sign up for an account
Enter your name and phone number to create an account with OTT Remit.
Enter money transfer details
Choose your destination country and select one of three remittance methods: Cash Pickup, Mobile Wallet, or Bank Deposit. Enter your recipient's information.
Pay for your transfer
Complete your remittance by making an INTERAC e-Transfer. It's that easy!
