Exchange Rate Spread: The Real Cost of Sending Money From Peru to the USA
The fee is the decoy A flat transfer fee is the number most people notice because it is printed in bold. The exchange rate is where the real cost hides. For Peru-to-USA transfers, that matters more than almost anything else because the sender pays in soles and the recipient receives dollars. Every point the quoted rate moves away from the real market rate turns into money lost on the conversion itself. ...