5 Signs You’re Overpaying for International Transfers

Hidden Costs Could Be Draining Your Wallet

Sending money internationally has never been easier — but that doesn’t mean it’s cheaper.

Many people still rely on traditional banks or familiar platforms like PayPal without realizing they’re paying significantly more than they should. Between hidden fees, bad exchange rates, and slow delivery times, it’s easy to lose money without even noticing.

Let’s break down the 5 biggest red flags that signal you’re overpaying — and how to stop the drain.

Sign #1 – You Don’t Know the Exchange Rate You’re Getting

Why It Matters

If you're not checking the mid-market rate before a transfer, you could be accepting a significantly marked-up rate.

For example, sending £1,000 with a bank that offers 1.13 EUR/GBP instead of the market rate of 1.17 can cost you €40 or more.

Quick Fix

Use a live rate checker like Google or try the Wise Transfer Calculator to see the real rate before sending.

Sign #2 – The Fees Aren’t Fully Visible Upfront

Watch Out for This

Do you only find out how much you paid after the transfer is completed?

That’s a sign of poor transparency — and likely hidden charges either in the exchange rate or behind processing fees.

Quick Fix

Use a provider like Wise that shows exactly how much you’ll pay and receive before confirming the transfer.

Sign #3 – Transfers Take More Than 3 Days

Why It’s a Problem

If it takes 3–5 business days to send money abroad, it usually means:

• Intermediary banks are involved (each taking a cut)

• The provider isn’t optimized for speed

• You're paying for an outdated process

Quick Fix

Look for services that offer same-day or 24-hour transfers, especially for major currency routes like GBP to EUR or USD to Spain.

Sign #4 – You’re Using a Bank or PayPal Out of Habit

What You Might Be Missing

Many people stick to their bank or PayPal because it's “convenient.” But convenience often comes with:

• 4–5% exchange rate markups

• Double fees on receiving end

• Limited control and tracking

Quick Fix

Switch to a money transfer provider that’s built for transparency and savings, like Wise. You’ll get real rates and lower fees — no surprises.

Sign #5 – You’re Not Comparing Options Before Sending

Why It Hurts

Sending €500, £1,000, or $2,000 without comparing services can cost you dozens in lost value every time.

Most people who compare end up switching because the difference is so obvious.

Quick Fix

Use a comparison tool like the one on our site to instantly check fees, exchange rates, and transfer speeds side by side.

✅ Compare Transfer Services Now

Real Example – Sending £1,000 to Euros

👉 Savings with Wise: €33+ per transfer!

Final Thoughts – Don’t Settle for Less Than You Deserve

If any of these signs sound familiar, it’s time to rethink how you’re sending money abroad. Hidden costs and bad rates quietly chip away at your finances, especially if you make regular transfers.

With Wise, you get full transparency, mid-market rates, and lower fees — all designed to keep more money in your hands.

✅ Start Saving on Transfers
✅ Send GBP or USD to Euros
✅ Try the Wise Calculator

About 247 Expat Insurance – Helping You Thrive Abroad

At 247 Expat Insurance, we understand the challenges of living and managing finances abroad. From international money transfers to expat health coverage, our mission is to make your life simpler, safer, and more affordable.

We carefully research and recommend tools that help expats like you save money and avoid unnecessary fees — wherever life takes you.

Looking for more tips and trusted services?
👉 Explore our expat guides and tools to make the most of your journey.