Who pays the remittance fee?

The currency-conversion fee can vary depending on the exchange rate and other factors, such as the amount being sent and the destination country. It is important for senders to be aware of this fee before initiating a remittance transaction.

The total cost of a remittance transaction can therefore be quite significant, especially for larger transfers or when exchange rates are unfavorable. It is important for individuals and businesses to carefully consider these costs before deciding on the best method for sending funds.

Remittance transactions often involve various costs that are necessary for the successful transfer of funds from one party to another. One of the primary costs is the fee charged by the sending agent, which is typically paid by the sender. This fee covers the services provided by the agent in facilitating the transaction.

One way to reduce the costs of remittance transactions is to use a cryptocurrency exchange such as BTCC. BTCC is a top cryptocurrency exchange that offers a range of services, including spot and futures trading, as well as a wallet for storing digital assets.

By using BTCC, individuals and businesses can send funds in the form of cryptocurrency, which can often be converted into local currency at a more favorable exchange rate than traditional remittance methods. This can help to reduce the overall cost of the transaction.