Sending money to loved ones abroad is an important and meaningful gesture. However, many people find themselves frustrated by the high fees and hidden costs associated with international money transfers. At Qantrans, we believe sending value should be simple, affordable, and transparent. Here are some practical tips to help you minimize fees and get the most out of every transfer.

1. Understand the Types of Fees

When sending money abroad, several types of fees may apply:

Transfer Fees: Fixed fees charged by the service provider per transaction.

Exchange Rate Margins: The difference between the market exchange rate and the rate offered by the provider, which can add significant hidden costs.

Receiving Fees: Some banks or services may charge recipients for incoming transfers.

Knowing these fees upfront helps you compare providers and avoid surprises.

2. Compare Providers Before Sending

Different platforms have different fee structures. While some might have low transfer fees, they may compensate with poor exchange rates. Always:

Use online comparison tools to evaluate costs.

Check for any hidden fees, including receiving fees.

Consider providers like Qantrans that offer transparent pricing and competitive rates.

3. Use Multi-Currency Wallets

If you frequently send money in different currencies, consider using a multi-currency wallet. It allows you to hold, convert, and send funds in multiple currencies with minimal fees and better exchange rates. Qantrans supports wallets in NGN, USD, EUR, and GBP, giving you flexibility and cost savings.

4. Opt for Digital Transfers

Digital transfers (using mobile apps or online platforms) often cost less than traditional bank wire transfers or cash pickup services. They also tend to be faster and more secure.

5. Send Larger Amounts Less Frequently

Since transfer fees are often fixed per transaction, sending larger sums less frequently can reduce the overall fee percentage relative to the amount sent. Just make sure this aligns with your financial needs and those of your recipient.

6. Take Advantage of Promotions and Discounts

Many providers, including Qantrans, run promotions offering fee waivers or discounts for first-time users or during special campaigns. Keep an eye out and make the most of these offers.

7. Be Mindful of Transfer Speed

Faster transfers usually cost more. If your transfer isn’t urgent, choosing a slower option can save fees without compromising the value your loved ones receive.

Final Thoughts

Sending money abroad doesn’t have to be expensive or complicated. By understanding fees, choosing the right provider, and using smart strategies like multi-currency wallets and digital transfers, you can keep more money in your pocket and make your support go further.

At Qantrans, we’re committed to making cross-border remittances affordable, fast, and human. Try us today and experience the difference.

Have questions or want help with your next transfer? Contact our support team or visit Qantrans.com to learn more.