Calculating your costs

How does the no-fee programme work?

Our no-fee transfer programme is available to all registered UK users of the PagoFX mobile app on Android and iOS and website via PagoFX.com until 16 August 2020. PagoFX shall waive international money transfer fees on transactions up to a limit of 3,000 GBP per-user. This limit is cumulative – once you submit a single or multiple transactions above the 3,000 GBP limit, PagoFX’s standard fees shall apply on all amounts above the limit.

This means that after reaching the 3,000-GBP transfer limit, we will charge you a low-cost fee of 0.70% of the sent amount to the eurozone, Switzerland, Norway, Sweden, the Czech Republic and Bulgaria; 0.80% for the US, Poland, Denmark, Romania and Hungary; 1% for Croatia; 1.2% for Turkey; 1.5% for Israel; 1.8% for Qatar and Saudi Arabia, and 1.9% for Bahrain and Kuwait.

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. Pricing is the same on the mobile app and web, as well as for individuals and sole traders.

Our fees differ depending on your recipient country. Standard fee for transferring money to the eurozone, Switzerland, Norway, Sweden, the Czech Republic and Bulgaria is 0.70% of the sent amount; 0.80% for the US, Poland, Denmark, Romania and Hungary; 1% for Croatia; 1.2% for Turkey; 1.5% for Israel; 1.8% for Qatar and Saudi Arabia, and 1.9% for Bahrain and Kuwait.

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 euros, the fee you will pay is £0.70. The remaining £99.30 will be converted to euros 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. UK residents should not be charged if they are paying with a UK-issued debit card such as Santander UK, HSBC, Lloyds or Barclays.

Will the recipient’s bank charge any fees?

Most recipient banks should not charge any fees. However, in the case of sending GBP 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. PagoFX is not liable for any charges imposed by the recipient’s bank.

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, 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.