![]() If you do want to send a smaller amount, be sure to check whether the online transfer company of your choice offers this, as some companies don’t allow you to send under a minimum amount. Transferring money fast costs money, so to save money, simply plan ahead and choose the longer time frame as an option. This almost always works out cheaper! Don’t pay for speed Try not to send small amounts several times, but instead send a large amount of money once. If you would like to save money when you are sending money to and from the Netherlands, here are some handy tips! Send larger amounts Transferring foreign currency abroad: How does it work? Why not use one of the comparison tools that we mentioned above? And make sure to always look at the total amount the recipient will get, for a true comparison. Of course, you will want to get the best exchange rates possible, which means it’s a good idea to shop around. This is how money transfer services make profits. What is a markup exactly? Here is an example: If the interbank exchange rate for euros to US dollars is 1,113, for example, and a certain service is offering 1,083, they are charging a markup of 0,03 dollars per euro - the equivalent of 2,69 percent, before service fees and additional commissions are even added. Sometimes, a company charges really low fees, but it could be that their exchange rate is very high, so you still end up paying more! So, be diligent when choosing a transfer service. How much your bank or transfer company is charging you for their serviceĪlways check the total costs. ![]()
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