The Forex Margin or Exchange Rate Margin is the amount, expressed as a percentage, that a bank or MSB adds on to the interbank exchange rate when they quote a client.
The higher the forex margin, the less money your beneficiary will receive.
In the examples below we show clients sending money from the United Kingdom, in pounds, at different interbank exchange rates.
Money transfer exchange rate quotes are then calculated based on a margin of 3% and 10% respectively. These are margins that all money transfer companies and banks use to quote you on your transfer. You'll then be able to see how different margins affect the amount of money that your recipient will eventually receive.