Sending money internationally is where exchange costs bite hardest, because the spread scales with the amount. A little care here can save a meaningful sum on a large transfer.
Before contacting any provider, check the live mid-market rate for your currencies. This is your benchmark. Every quote you get can then be measured against it to reveal the true cost.
The only number that matters is how much your recipient actually receives for a given amount sent. A "no fee" transfer with a wide spread can deliver less than one with a small fee and a tight spread. Always compare like-for-like on the received amount.
High-street banks are convenient but typically quote the widest spreads on transfers. Dedicated international money-transfer services usually offer far tighter spreads and clearer pricing. For regular or large transfers the difference can be substantial, so it is worth comparing a couple of specialists.
Check the exchange rate, any fixed fee, the total cost, and the expected arrival time before confirming. For more on cutting costs, see our guide on avoiding hidden currency fees.
If the transfer is large and the timing is flexible, our guide on when to exchange currency covers sensible ways to manage the risk of converting at an unlucky moment.