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.
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.
Use a live rate checker like Google or try the Wise Transfer Calculator to see the real rate before sending.
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.
Use a provider like Wise that shows exactly how much you’ll pay and receive before confirming the transfer.
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You're paying for an outdated process
Look for services that offer same-day or 24-hour transfers, especially for major currency routes like GBP to EUR or USD to Spain.
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
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.
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.
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
| Provider | Exchange Rate | Fees | Amount Received (EUR) |
|---|---|---|---|
| Traditional Bank | 1.13 | £20 | €1,130 |
| PayPal | 1.14 | ~3% built-in | €1,140 |
| Wise | 1.17 (mid-market) | £4.89 | €1,163 ✅ |
👉 Savings with Wise: €33+ per transfer!
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
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.