Compare Remittance Rates Today
Exchange rates change daily, and small differences impact how much your recipient receives. Compare live rates and total costs before sending money internationally.
📈 Why Compare Rates Daily
Exchange Rates Fluctuate
Currency rates change based on economic conditions, central bank policies, and market sentiment.
Small Differences = Big Impact
On $1,000, even 1% rate difference means $10 more or less for your recipient.
What to Compare When Checking Rates
1. 💱 Exchange Rate vs Mid-Market Rate
Find Mid-Market Rate
- • Check Google or XE.com
- • This is the "real" exchange rate
- • Compare provider rates to this
- • Difference = provider's margin
Example
Mid-market: 1 USD = 150 KES
Provider A: 148 KES (1.3% margin)
Provider B: 146 KES (2.7% margin)
Provider A is better
2. 💰 Transfer Fees & Payment Methods
| Payment Method | Typical Fee | Speed | Best For |
|---|---|---|---|
| Bank Transfer | $0-3 | 1-3 days | Low cost |
| Debit Card | $3-8 | Minutes-hours | Balance of cost/speed |
| Credit Card | $10-25+ | Minutes | Avoid if possible |
3. 📊 Total Amount Received
The Only Number That Matters
Instead of comparing fees and rates separately, focus on the total amount your recipient will receive.
Formula:
Your amount ÷ (Exchange rate after margin) - Transfer fee = Recipient gets
4. ⚡ Delivery Speed & Method
Mobile Money
• Usually fastest (minutes)
• Often best rates
• Available in Kenya, Ghana
Bank Deposit
• 15 minutes - 2 days
• Most universally available
• Good for large amounts
Cash Pickup
• Available immediately
• Higher fees usually
• Good for emergencies
Live Rate Comparison by Popular Corridors
🇺🇸 → 🇰🇪 USA to Kenya
Best Current Options
- • Wise: Transparent mid-market + small margin
- • Sendwave: $0 fee to M-Pesa
- • Remitly: First-transfer promotions
Rate Check
Mid-market USD/KES: Check Google today
Best provider rate: Usually within 1-2%
Delivery: M-Pesa instant, banks 1-2 days
🇺🇸 → 🇳🇬 USA to Nigeria
Top Providers
- • Wise: Best exchange rate transparency
- • WorldRemit: Strong Nigeria coverage
- • Sendwave: $0 fees, rate markup
Market Notes
USD/NGN rates can be volatile
Bank deposits most common
Compare rates daily for best value
🇺🇸 → 🇮🇳 USA to India
Competitive Market
- • Remitly: Strong India focus
- • Wise: Consistent good rates
- • Xoom (PayPal): Popular option
High Volume = Better Rates
Lots of providers compete
Generally good exchange rates
Multiple delivery options
How to Compare Rates Effectively
📋 Your Rate Comparison Checklist
Before You Compare
- ✓ Know the exact amount you're sending
- ✓ Check mid-market rate on Google/XE
- ✓ Decide on delivery method preference
- ✓ Consider speed vs cost priorities
During Comparison
- ✓ Get quotes from 3-5 providers
- ✓ Use same amount for all quotes
- ✓ Note the recipient amount (most important)
- ✓ Check for any hidden fees
Rate Comparison Tools & Resources
📱 Provider Websites/Apps
Get Live Quotes
- • Visit each provider's website
- • Enter your send amount
- • See recipient amount before signing up
- • Screenshot for easy comparison
🌐 Rate Tracking Sites
Independent Comparison
- • SendMoneyRates.com (this site!)
- • CompareRemit
- • MoneyTransfers.com
- • Check multiple sources
When to Check Rates
📅 Timing Your Rate Checks
✅ Good Times to Check
- • Before each transfer (rates change daily)
- • Early in your local business day
- • When planning larger transfers
- • During stable economic periods
⚠️ Rates May Be Volatile
- • During major economic news
- • Around central bank announcements
- • During political uncertainty
- • Over weekends (limited liquidity)
🔔 Rate Alerts & Monitoring
Set Up Rate Notifications
- • Some providers offer rate alerts
- • XE.com has rate alert services
- • Monitor rates for favorable trends
- • Consider timing larger transfers during good rates
Example: $500 Rate Comparison
| Provider | Transfer Fee | Exchange Rate | Recipient Gets | Ranking |
|---|---|---|---|---|
| Provider A | $6 | 149 KES | 74,500 KES | 1st - Best |
| Provider B | $0 | 148 KES | 74,000 KES | 2nd |
| Provider C | $4 | 146 KES | 72,500 KES | 3rd |
| Provider D | $15 | 145 KES | 70,250 KES | 4th - Worst |
💡 Key Learning: Provider A wins despite having a visible fee - recipient gets 4,250 KES more!
Start Comparing Rates Now
Get live rate quotes for your transfer corridor. Remember: the best rate today might be different tomorrow.
Rate Comparison Best Practices
✓ Compare total recipient amount, not just fees or exchange rates separately
✓ Check rates before each transfer - they change daily based on market conditions
✓ Use the same transfer amount when getting quotes for accurate comparison
✓ Consider delivery speed vs cost based on your recipient's needs
✓ Screenshot or save quotes since rates can change quickly
✓ Factor in payment method costs - avoid credit card cash advance fees
Remember: The "best rate" is the one that puts the most money in your recipient's hands today.