![]() Transfer fees ultimately allow PayPal, MoneyGram, and Xoom to be profitable. While some can be thought of as service charges, other transfer fees are derived from other fees, such as international currency exchange fees, that are passed on to the individual. It means that your friend on the other end of the transfer will receive less money. This is primarily because of the mark-up on the exchange rate. Transfer fees are standard charges collected by these money transfer platforms in order for them to be profitable. As you can see, even though PayPal’s upfront transfer fee is lower, the transfer still costs more overall. ![]()
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