TransferMate’s fees depend on where you live and the amount you transfer.
TransferMate fees for US customers
Personal transfers - $15 per transfer.
Business transfers - No fees for transfers of $5,000 or more. Transfers of $1,000 to $5,000 attract $5 as fees. A $15 fee applies on transfers below $1,000 (allowed at the company's discretion).
TransferMate fees for EU customers
Personal transfers - €15 per transfer.
Business transfers - Transfers of €5,000 or more are fee-free. You pay €5 as fees for transfers of €1,000 to €5,000. If you are allowed to transfer less than €1,000, a €15 fee applies.
TransferMate exchange rates
TransferMate applies relatively low margins/markups on existing interbank exchange rates. While you know the exchange rate that will apply on your transfer in advance, you are not made aware of the margin.
Does TransferMate have additional fees?
Yes, you might have to incur additional TransferMate fees in some scenarios. For instance, you would need to pay a $10/€10 fee if you wish to send EUR payments to non-SEPA compliant bank accounts. If TransferMate carries out a same currency payment transaction on your behalf, you will need to pay an additional fee of $15/€15 (unless notified otherwise).
TransferMate's score in this section leaves significant room for improvement because of its exchange rate margins, non-negotiable rates and transfer fees.