Remittance Savings Calculator

A remittance savings calculator is a financial tool that helps foreign workers, expats, and freelancers compare the total cost of sending money abroad across different providers. It takes the monthly transfer amount, transfer frequency, current provider details (transfer fee and FX margin), and compares against alternative providers like Wise, Remitly, WorldRemit, Western Union, PayPal, and Xe. The calculator shows the annual fees with the current provider, annual fees with each alternative, total annual savings from switching, 5-year projected savings, and a cumulative savings chart with corridor-specific analysis. Everything runs entirely in your browser with no data uploaded to any server.

1. Enter Your Transfer Details: Input the amount you send per transfer, how often you send money (weekly, bi-weekly, monthly, quarterly, or annually), and optionally select a remittance corridor (e.g. US→India, UK→Nigeria, UAE→Philippines) to get realistic fee estimates for that route. The corridor presets include typical transfer fees and FX margins for each provider on that specific route.
2. Configure Current & Alternative Providers: Select your current provider or enter custom fee and FX margin values. Then select one or more alternative providers you want to compare. Each provider has default fee and margin values that you can customize, including a transfer fee (fixed cost per transfer) and an FX margin (the markup above the mid-market exchange rate, expressed as a percentage).
3. Review the Complete Savings Analysis: The calculator displays a side-by-side comparison of all selected providers showing annual fees, annual savings compared to the current provider, the effective fee rate per transfer, and a cumulative savings chart. The chart visualizes how savings accumulate over 1, 3, and 5-year periods, helping you see the long-term financial impact of choosing the right provider.

• Annual Fees by Provider: The total annual cost for each provider, calculated as (transfer fee + FX margin cost) × number of transfers per year. This gives you the true annual cost of using each provider for your regular remittance needs, accounting for both explicit fees and hidden exchange rate markups.
• Annual Savings from Switching:The difference between your current provider's annual cost and each alternative's annual cost. Positive savings mean the alternative provider is cheaper. The calculator highlights the best option with a recommendation badge and shows the percentage savings relative to your current provider.
• Effective Fee Rate: The total cost per transfer expressed as a percentage of the transfer amount. This metric makes it easy to compare provider costs regardless of the transfer size, with lower percentages indicating better value. The effective fee rate includes both the transfer fee and the FX margin.
• Cumulative Savings Chart: A visual bar chart showing the total savings from switching to each alternative provider over 1, 3, and 5-year periods. This helps you understand the long-term financial impact of choosing a cheaper provider - small per-transfer savings can compound into significant amounts over years of regular remittances.

The remittance savings calculator is 100% free with no signup required. All calculations are performed locally in your browser - your transfer amounts, provider details, and financial data never leave your device. There are no usage limits or restrictions. The tool supports multiple transfer frequencies, corridor-specific presets, and side-by-side provider comparison with cumulative savings visualization. Use it as many times as you need to find the cheapest way to send money abroad and maximize your savings over time.