How do fees work and why are they generated?
It is a certain monetary amount that banks or platforms charge for facilitating the sending of money to any account or place in the world
These fees are charged by your bank or the government, in the case of taxes, for facilitating the sending of money. This is a commission that they always charge for international transfers. The fees associated with international transfers are 2.
Below you will see a more detailed description of each payment method
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✔️ Bank Accounts
These may vary depending on the bank and the configuration that the bank account has. Since, for example, for international transactions, the fee or commission may be higher. You can consult the table of rates where the costs for some countries are specified.
Times for own accounts:
From 1 - 3 business days.
Times for third party accounts:
From 2-5 business days.
International Bank Transfers |
The fees associated with international transfers are 2.
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✔️ Payoneer
The fee to request a withdrawal to Payoneer is 1 USD + 0.5%.
It can take up to 1 business day to receive the funds.
✔️ Cryptocurrencies
👉 Currently the fee generated for BEP-20 and ERC-20 is 1.2% + Network Fee.
It can take from 10 minutes to 6 hours to receive the funds.
✔️ Debit cards
The fee to send transfers to debit cards is 2% of the total transferred. The estimated time of these transactions is from 1 business day maximum.
🔔 Table of rates (Banks)
Country | Payment method fee | Fee (Local currency) | Fee (USD) |
Chile | Bank transfer (CLP) | 1.6USD | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
India | Bank transfer (INR) | 4 USD + 0.3% | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Mexico | Bank transfer (MXN) | 1.5 USD + 0.3% | N/A |
Peru | Bank transfer (PEN) | 2.1 USD | 0.2% + 5.3 USD (Be careful with fees for receiving USD payments, as only BCP and Scotiabank have no extra fees). |
USA | Bank transfer (USD) | ACH > 2 USD Wire > 6 USD | ACH > 2 USD Wire > 6 USD |
United Kingdom | Bank transfer (GBP) | 0.40 USD + 0.37% | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Argentina | Bank transfer (ARS) | 1.54 USD + 1.2% +Tax | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Colombia | Bank transfer (COL) | 1.6 USD + 0.4% | N/A |
Ecuador | Bank transfer (USD) | 3.8 USD | N/A |
Spain | Bank transfer (EUR) | 1.5 USD + 0.3% | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Brazil | Bank transfer (USD) | 2.1 USD + 0.3% | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Honduras | Bank transfer (USD) | 2.2 USD | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Nicaragua | Bank transfer (USD) | 2.3 USD | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Bolivia | Bank transfer (USD) | 1.54 USD | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
Puerto Rico | Bank transfer (USD) | x | 6 USD + Ask the bank about additional fees for receiving international transfers (normally go between 15 to 25 USD). Also, take in mind that intermediary banks may charge extra fees |
El Salvador | Bank transfer (USD) | x | 15 USD |
If you have further questions, feel free to contact our support team via chat 😊