1. The spread
Built into the rate. On a 500-unit transfer a spread of 1.2 per cent is 6 units, which is often more than the stated fee.
2. The sending fee
Stated, visible, and usually the smallest of the four on larger amounts. On very small transfers it dominates, because it is frequently flat.
3. The receiving side
Cash-out charges, agent commission at the collection point, or an account fee on arrival. This is the part senders most often do not know about, because it is paid by someone else.
4. Rounding
Small, consistent, and always in the same direction. Not worth optimising, but worth knowing it is there when the arithmetic does not quite close.
| Amount sent | Flat fee bites | Spread bites |
|---|---|---|
| 50 | hard | barely |
| 500 | moderately | moderately |
| 5 000 | barely | hard |
That table is the whole strategy. Small amounts: look at the fee. Large amounts: look at the rate. In the middle, look at what arrives.