Money transfers from abroad: stop losing money on fees and exchange rates

Where the money is really lost

Many people look only at the transfer fee, but the bigger loss often hides in the exchange rate. A service may advertise “0% fee” yet convert euros to lei at a noticeably worse rate than a bank. On a 500 euro transfer, the rate difference can easily cost a few hundred lei.

So compare the result, not the fee: how many lei (or euros) the recipient actually gets for the same amount sent.

What to compare before sending

• The final amount received, including both the fee and the exchange rate.
• The currency the money arrives in. Sometimes it is better to receive euros into an account and exchange them yourself when the rate suits you.
• Fees for receiving and cash withdrawal: some banks charge on that side too.
• Speed and reliability. Instant transfers are convenient, but if the money is not urgent, a slower option can be cheaper.

Less often, larger amounts

If a service has a fixed part in its fee, ten transfers of 100 euros cost more than one of 1,000. Agree on a regular schedule in the family — for example once a month — and plan in advance what the money is for.

Record what actually arrived

The sender sees an amount in euros, the recipient sees lei, and the difference easily gets lost. Keep a euro account and a lei account in your tracker: a transfer between them shows both the rate and the loss. After a couple of months it becomes clear which transfer method really works best for your family.