NO FEES until 28 February for first-time users.

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Calculating your costs

How does the no-fee programme for first-time users work?

Our no-fee transfer programme is available to all first-time Spanish users of the PagoFX mobile app on Android and iOS between 14 December 2020 and 28 February 2021. PagoFX shall waive international money transfer fees on transactions up to a limit of  €1,000 per-user. This limit is cumulative – once you submit a single or multiple transactions above the  €1,000 limit, PagoFX’s standard fees shall apply on all amounts above the limit.

This means that after reaching the  €1,000  transfer limit, we will charge you the following low-cost fees:

  • 0,5% of the sent amount for the eurozone
  • 0,9% for Australia, Canada, the Czech Republic , Hong Kong, India, New Zealand, Singapore, Sweden, Switzerland and the UK
  • 1% for Bulgaria, Denmark, Hungary, Norway, Poland and the US
  • 1,1 % for Bahrain and Romania
  • 1,3% for Croatia and Turkey
  • 1,4% for Mexico
  • 1,5% for Kuwait, Qatar and Saudi Arabia
  • 1,7% for South Africa
  • 1,8% for Israel
  • 1,9% for Brazil
  • 2,3% for Morocco
  • 2,4% for Argentina
  • 2,6% for Colombia
  • 2,7% for Dominican Republic
  • 3,3% for Peru

Read the terms of the programme here.

What fees will I be charged?

After the no-fee programme period, our standard low-cost fees shall apply. Our fees differ depending on your recipient country. Our standard fees are as follows:

  • 0,5% of the sent amount for the eurozone
  • 0,9% for Australia, Canada, the Czech Republic , Hong Kong, India, New Zealand, Singapore, Sweden, Switzerland and the UK
  • 1% for Bulgaria, Denmark, Hungary, Norway, Poland and the US
  • 1,1% for Bahrain and Romania
  • 1,3% for Croatia and Turkey
  • 1,4% for Mexico
  • 1,5% for Kuwait, Qatar and Saudi Arabia
  • 1,7% for South Africa
  • 1,8% for  Israel
  • 1,9% for Brazil
  • 2,3% for Morocco
  • 2,4% for Argentina
  • 2,6% for Colombia
  • 2,7% for Dominican Republic
  • 3,3% for Peru

Your fee will be included in the amount you’ll send to the recipient, so there won’t be unexpected surprises. For example, if you want to convert €100 to GBP, the fee you will pay is €0.90. The remaining €99.10 will be converted to GBP and sent to your recipient. In our rate calculator, you’ll see exactly what the recipient will receive.

Will my bank charge me any additional fees?

Provided that you are paying with a valid debit card, your bank should not charge you any fees. Spanish residents should not be charged if they are paying with a Spain-issued debit card such as Santander, Sabadell or BBVA.

If you use a credit card, your card supplier may treat this as a cash advance and charge a fee, and it may also charge you interest. You may avoid these costs by using a debit card.

 

Will the recipient’s bank charge any fees?

Most recipient banks should not charge any fees.

In the case of sending EUR to USD, some US banks may charge a wire transfer processing fee to the recipient. This charge is at the discretion of the receiver’s local US bank and usually ranges between USD 10 and 20. If applied, this should show as a separate charge on the recipient’s statement, and not included in the PagoFX transaction. Banks outside the US sometimes charge an equivalent (though usually smaller) fee for receiving international transfers, but it is much less common.

On rare occasions, European banks may also subtract an additional fee from the amount sent before it arrives in your recipient’s account, even for transfers originated in Europe. If your recipient believes this has happened, we recommend they challenge this fee with their bank.
PagoFX is not liable for any charges imposed by the recipient´s bank, nor do we benefit from these fees.

What exchange rate will I get?

PagoFX gives you real-time, mid-market exchange rates, similar to those found in public sources such as Google, Bloomberg and Reuters, among others. This ensures that you have the fairest rate possible without any mark-ups on foreign exchange.

How are the currency exchange rates calculated?

A currency’s price is determined by what people are prepared to buy and sell it for at that moment. So, we take the ‘buy’ and ‘sell’ prices of the currency pair and calculate the midpoint between them – the mid-market rate.

How long will the rate be available?

From the moment you log in and start the transaction, we will hold the rate for 15 minutes (unless you cancel or change the amount of the transaction or go back and start again). Once this time has elapsed, the currency exchange rate will be re-calculated.