EXPERIMENT: Is Revolut the Most Cost Effective Foreign Transfer Method?
Using only the higher exchange rate masks the higher fees. When the transfer fees are included, the higher exchange rate is no longer advantageous.
Highlights
How to compare fees and rates: Look at both transfer fees and exchange rates. Higher exchange rates can hide higher fees.
How to find the best transfer method: Calculate the total costs including all fees. Aim for a fee percentage close to zero for the most cost-effective transfer.
Transferring money directly from the originating bank to the de…
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