Compare remittance quotes before sending

A low transfer fee is only one part of the cost. The exchange rate and any charge to the recipient can change how much arrives. Compare quotes for the same transfer before deciding. World Bank: remittance price methodology

Make the quotes comparable

Ask each service for a quote using the same amount, sending and receiving currencies, funding method, delivery method and intended timing. Check whether the amount entered is what you want to send or the full amount you are willing to pay, including fees. The distinction affects the comparison.

For each quote, note the total the sender pays, the exchange rate, the fee, the estimated amount the recipient receives after any disclosed charges, and when and how the money should arrive. Ask about charges that are not included in the quote, whether the rate is locked and for how long, and the terms if the transfer is delayed, cancelled or reversed. A quote is not a guarantee that an amount will remain available later.

If one quote leaves a fee or the recipient amount unclear, ask the provider before treating it as the better deal. Speed and access matter too: the recipient must be able to use the chosen delivery method. World Bank: about remittance prices

Protect the transfer

Use a provider’s official app or website, check recipient details carefully, and keep the receipt or transaction reference. Do not share a PIN, password or one-time password. If something looks wrong, contact the provider through a verified official channel promptly. The BSP fraud guide and consumer assistance page describe further steps; available protections depend on the provider and jurisdiction.

This is general information, not a recommendation of a provider or an individual financial decision.

Quick checklist

• Use equivalent amounts, currencies and delivery methods.
• Check the total paid, estimated net receipt and rate validity.
• Confirm timing, applicable charges and provider terms.