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.
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%.
✔️ Cryptocurrencies
They work like banks, to make transfers specific networks are used for cryptocurrencies, which depending on how much they are used, charge a certain commission on your payment.
👉 Currently the fee generated for ERC-20 and BEP-20 networks are from 2 USD up to 10 USD
🔔 Table of rates (Banks)
Country | Payment method fee | Fee (Local currency) | Fee (USD) |
Chile | Bank transfer (CLP) | 1.6USD | 20 USD approx |
India | Bank transfer (INR) | 4 USD + 0.3% | 20 USD approx |
Mexico | Bank transfer (MXN) | 1.5 USD + 0.3% | 20 USD approx |
Peru | Bank transfer (PEN) | 1.52 USD | 0.2% + 5.3 (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) | 0.37 + 0.47% | 20 USD approx |
Argentina | Bank transfer (ARS) | 1.54 USD + 11% from "Dolar Contado con Liquidación" | 20 USD approx |
Colombia | Bank transfer (COL) | 1.6 USD + 0.4% | N/A |
Ecuador | Bank transfer (USD) | 4.6 USD+0.3% | N/A |
Spain | Bank transfer (EUR) | 1.5 USD + 0.3% | 20 USD approx |
Brazil | Bank transfer (USD) | 2.1 USD + 0.3% | 20 USD approx |
Honduras | Bank transfer (USD) | x | 6 USD (keep in mind your bank may charge you an additional fee for receiving international Wire transfers) |
Nicaragua | Bank transfer (USD) | x | 20 USD approx |
Bolivia | Bank transfer (USD) | 1.54 USD | 20 USD approx |
Puerto Rico | Bank transfer (USD) | 2 USD | N/A |
Salvador | Bank transfer (USD) |
| 6 USD (keep in mind your bank may charge you an additional fee for receiving international Wire transfers) |
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