International Wire Transfer & FX Fee
Enter the mid-market rate and your bank's offered rate to see the hidden exchange-rate markup cost, plus wire and intermediary fees.
Find the mid-market rate from an independent source (like a currency-converter site), and your bank's offered rate from your transfer confirmation or quote — this tool doesn't look either one up for you.
Total cost of this transfer
$190.00
3.80% of the amount sent
Lost to exchange-rate markup
$150.00
2.78% below mid-market
Flat fees
$40.00
Your real effective rate
1.0470
The exchange-rate markup is often the largest and least visible part of an international transfer's real cost — a bank quoting "no fee" can still build a markup into the rate itself. This tool only computes from the numbers you enter; it doesn't fetch or verify any live exchange rate.
About this tool
How to use it
- Look up the current mid-market exchange rate for your currency pair from an independent source (a currency-converter site, not your bank).
- Find the rate your bank actually offered, from your transfer confirmation or quote.
- Enter the amount you're sending, both rates, and any flat wire or intermediary bank fees.
- Press Calculate True Cost, or just keep typing — the breakdown updates live.
- Compare the hero total cost figure and the markup-vs-fees split to see where the money actually went.
Why it matters
Banks and transfer services often advertise 'no fee' or a low flat fee while building a hidden markup into the exchange rate itself — the gap between the mid-market rate and the rate you're actually offered is real money you don't see as a line-item fee. Splitting the total cost into its two real parts (rate markup and flat fees) shows which one is actually costing more, which a bank's own paperwork rarely spells out directly.
When to use it
Useful before sending an international wire, when comparing quotes from two different banks or transfer services for the same transfer, or when trying to understand after the fact why less money arrived than expected.
Good to know
This tool only computes from the two rates and fee amounts you enter — it does not fetch, verify, or guarantee any live exchange rate, and it can't tell you which bank or service actually offers the best deal unless you gather each one's rate and fees yourself first. The calculation assumes the bank's offered rate is at or below the mid-market rate (the normal, expected direction); it flags the input for a re-check if the numbers suggest otherwise, since that would mean the entered rates are likely swapped or mistyped.
Common questions
What is the mid-market exchange rate?
It's the real, midpoint rate at which banks and large institutions trade currencies with each other — the same rate you'd see quoted on a general currency-converter site or in financial news. It's the fairest reference point for what a currency 'should' be worth, before any bank's own markup is applied.
Why did my bank say there was 'no fee' but I still lost money?
A 'no fee' transfer can still build a markup into the exchange rate itself, which doesn't show up as a separate line-item charge but costs real money — often more than an upfront flat fee would have. This tool's markup-loss figure is exactly that hidden cost, calculated from the gap between the mid-market rate and what your bank actually offered.
What's an intermediary or correspondent bank fee?
International wires often pass through one or more intermediary banks between the sender's and receiver's banks, each of which can deduct its own fee from the amount in transit — this is separate from, and in addition to, the fee your own bank charges you to send the wire.
How do I find my bank's actual offered rate if it's not shown anywhere?
Divide the amount that arrived (or was quoted to arrive) by the amount you sent — that ratio is the effective rate your bank used, even if it wasn't displayed as a rate anywhere in the transaction. Compare that number to the true mid-market rate for the same day to see the real markup.