IC Markets
Written byAbir KhanWriter
Market analysis byTanbir Habib RiyadCo-Founder & Trader
Fact-checked & QC byJowel RanaFact-Checker & QC
Edited byRanjan NiskrityChief EditorThis tool is for education and planning only and is not financial advice. Forex and CFD trading carries a high risk of losing money rapidly due to leverage. Check your broker's own contract specifications, fees and margin rules before you trade.
How to use the calculator
- Enter the amount and currencies
Choose what you send and what your family receives, or tap a common route such as AED → INR or SAR → PKR.
- Get two or three quotes
Check your bank, a licensed transfer app and an exchange house for the same amount at the same time.
- Type in each fee and rate
The rate is how many units of the receiving currency one unit of yours buys, for example 23.10 rupees per dirham.
- Read the total cost
The table ranks providers by what arrives and shows each one's fee, markup and total cost as a percentage.
Ways to pay less on every transfer
Compare digital services
Digital-only providers averaged about a quarter of bank costs in the World Bank's Q3 2025 survey.
Use licensed channels only
Send through banks, exchange houses and apps licensed in both countries. Informal hawala or hundi agents carry legal and loss risks.
Send larger amounts less often
Fixed fees weigh less on bigger transfers, where your budget allows it.
Watch weekend rates
Some providers widen their rates when markets are closed at the weekend.
Choose the payout method
Bank deposits and mobile wallets are often cheaper than cash pickup.
Check official incentives
Some countries, including Bangladesh and Pakistan, have offered incentives for money sent through formal channels. Ask your bank what applies now.
Sending from the Gulf: why the dollar matters
Most Gulf currencies are fixed to the US dollar, so their rate against the rupee, taka or peso moves almost exactly with the dollar's.
| Currency | Fixed rate per US dollar | What it means |
|---|---|---|
| UAE dirham (AED) | 3.6725 | AED → INR moves with USD → INR |
| Saudi riyal (SAR) | 3.75 | SAR → PKR moves with USD → PKR |
| Qatari riyal (QAR) | 3.64 | Timing matters only as much as the dollar moves |
| Omani rial (OMR) | 0.3845 | One rial is worth about $2.60 |
| Bahraini dinar (BHD) | 0.376 | One dinar is worth about $2.66 |
Check today's rate for any pair in our currency converter.
Worked example: Riyadh to Lahore
- The benchmark
Imran sends SAR 2,000. At an illustrative mid-market rate of 73.80 rupees per riyal, the fair value is Rs 147,600.
- Quote one: bank
A SAR 25 fee and a rate of 71.60: (2,000 − 25) × 71.60 = Rs 141,410, a total cost of 4.2%.
- Quote two: licensed app
No fee and a rate of 73.20: 2,000 × 73.20 = Rs 146,400, a total cost of 0.8%.
- The difference
The app delivers Rs 4,990 more on one transfer, about Rs 59,900 over a year of monthly transfers.
The bank's fee looked small. Comparing what arrived against the mid-market rate showed the real price.
Money transfer mistakes
A zero-fee transfer with a poor rate can cost more than a small fee with a fair one.
Hawala and hundi routes can lose your money and may break the law in both countries.
Rates move during the day. Get all quotes within a few minutes of each other.
Some banks charge the recipient to collect an incoming transfer.
Add this tool to your website
Run a forex blog, course or community? Embed the remittance cost calculator on your own site for free. It works on any page that accepts HTML, resizes itself and stays up to date.
Free to use on any site. Please keep the credit line under the widget.
Remittance Cost Calculator FAQs
How do I calculate the real cost of a money transfer?
Work out what your family would receive at the mid-market rate, then subtract what the provider will deliver after its fee. Divide the difference by the mid-market value for the total cost as a percentage.
What is a good remittance cost?
At or below 3%, the UN target. The World Bank's Q3 2025 survey found a global average of 6.36%, with digital-only providers averaging 3.54% and banks 14.99% for a $200 transfer.
Why is the exchange rate different from Google's?
Google and our converter show the mid-market rate. Providers offer a slightly weaker rate and keep the difference as their margin.
Is it cheaper to send money from the UAE or Saudi Arabia through an app?
Often, but not always. Compare two or three licensed providers for the same amount at the same time; the calculator ranks them by what arrives.
Where does the mid-market rate come from?
ExchangeRate-API's daily reference rates. For the live market price, see our forex live rates page.
Can I add this calculator to my website?
Yes. The embed code further down this page adds it to any blog or community site for free, with a credit link.
Sources: World Bank Remittance Prices Worldwide, Issue 54 (Q3 2025), World Bank Remittance Prices Worldwide, ExchangeRate-API.