How RateMigo Compares Money Transfer Options

RateMigo helps users explore money transfer options by combining reference exchange-rate data, estimated provider comparisons, and live provider quotes where integrations are available. This page explains where our data comes from, how our estimates are calculated, and the limitations users should understand before choosing a provider.

Last updated: July 2026

Reference Exchange Rates

We use exchange-rate data from ExchangeRate-API as a reference point for currency conversion calculations. Reference rates are not provider-specific transfer quotes.

Estimated Provider Comparisons

Estimated

Some provider results are estimates calculated using RateMigo's reference exchange rate and fixed assumptions for rates, fees, and delivery times.

Live Provider Quotes

Live quote

Where a provider integration is available, RateMigo may display quote information retrieved directly from that provider's integration.

Where Our Data Comes From

RateMigo currently uses different data sources depending on the type of information being displayed. We identify comparison results according to whether they are based on reference exchange-rate data, estimated provider assumptions, or a live provider integration.

Reference Exchange Rates

RateMigo uses exchange-rate data provided by ExchangeRate-API through open.er-api.com. This data provides reference currency conversion rates for supported currency pairs.

Our system retrieves this exchange-rate data periodically and stores it for use across RateMigo's comparison tools and currency corridor pages.

Important: Reference exchange rates are not the same as the rates offered by money transfer providers. Providers may apply their own exchange-rate margins, fees, promotions, and pricing rules.

Provider-Specific Data

RateMigo does not currently have direct pricing integrations with every provider displayed on the website.

Where a direct provider integration is unavailable, comparison results are clearly identified as Estimated.

Where data is retrieved through a supported provider integration, the result is identified as a Live quote.

What Our Comparison Labels Mean

Reference Rate

A reference rate is currency exchange-rate data used as a starting point for RateMigo's calculations. It should not be interpreted as the exchange rate you will necessarily receive from Wise, Remitly, Western Union, XE, WorldRemit, or another money transfer provider.

Estimated

Estimated

An Estimated result is calculated by RateMigo using the current reference exchange rate together with fixed assumptions for provider rate adjustments, fees, and delivery times.

These assumptions are not live quotes obtained directly from the provider. Actual rates, fees, recipient amounts, promotions, and delivery times may differ.

Live Quote

Live quote

A Live quote is displayed when RateMigo retrieves quote information through an available provider integration.

Live quotes may still change before a transaction is completed. Users should always confirm the final rate, fees, recipient amount, and delivery details on the provider's website before sending money.

How We Calculate Estimated Provider Results

For providers without a direct pricing integration, RateMigo creates estimated comparison scenarios using the reference exchange rate and fixed assumptions stored in our comparison engine.

1. Retrieve the Reference Exchange Rate

RateMigo fetches the current reference exchange rate for the selected currency pair.

Reference rate: 1 USD = 84.50 INR

2. Apply the Estimated Rate Adjustment

Estimated rate adjustment: 0.02

Estimated provider rate = 84.50 − 0.02 = 84.48 INR per USD

Rate adjustments in the current RateMigo comparison model are fixed assumptions. They are not live provider spreads and should not be interpreted as verified provider pricing.

3. Account for the Estimated Fee

Send amount: 1,000 USD

Estimated fee: 4.50 USD

Transferable amount = 1,000 − 4.50 = 995.50 USD

4. Calculate the Estimated Recipient Amount

Estimated recipient amount = 995.50 × 84.48 = 84,079.84 INR

This result is an estimate produced by RateMigo's comparison model. It is not a quote from the provider.

How Live Provider Quotes Work

For supported provider integrations and currency corridors, RateMigo may retrieve quote information directly through a provider integration. Depending on the integration, information may include the exchange rate, fee, and recipient amount.

Results retrieved through these integrations are identified with the Live quote label.

A live quote reflects information available when the request is made. Rates, fees, availability, and transfer conditions may change before a transaction is completed. Not all currency corridors have live provider quotes available.

How Often Our Data Updates

Reference Exchange Rates

RateMigo's system checks for updated reference exchange-rate data approximately every 30 minutes. The availability of new rate data may also depend on the update schedule of the underlying data provider.

Estimated Provider Assumptions

Estimated provider assumptions do not update in real time. They are fixed values used by RateMigo's current comparison model and may be reviewed or changed as the methodology evolves.

Live Provider Quotes

Live provider quote data is requested when supported comparison functionality is used. Availability depends on the provider integration and supported currency corridor.

Does RateMigo Rank Providers?

RateMigo does not currently declare an overall “best,” “cheapest,” or “fastest” provider based on comparisons that combine estimated results with live provider quotes.

Because different comparison results may come from different types of data, ranking them as if they were directly equivalent could be misleading.

Instead, RateMigo identifies the data type behind each comparison result and allows users to review available information before visiting the provider to confirm current pricing and transfer details.

Understanding Fees and Exchange Rates

The cost of an international money transfer may involve more than an upfront transfer fee. Potential factors may include:

  • Transfer fees
  • Exchange-rate margins
  • Payment method
  • Sending amount
  • Destination country
  • Payout method
  • Promotional pricing
  • Provider-specific conditions

This is why the amount a recipient receives can be more useful than comparing advertised fees alone.

For Estimated results, RateMigo's recipient amounts are calculations based on our current comparison assumptions and are not verified provider quotes.

How RateMigo Makes Money

RateMigo may earn a commission when users visit or use certain providers through links on our website.

Affiliate relationships help support the operation and development of RateMigo.

The presence of an affiliate relationship does not change whether comparison data is labelled as Estimated or Live quote.

Limitations of RateMigo Comparisons

Money transfer pricing can change frequently and may depend on factors RateMigo cannot fully account for. Comparisons may not account for:

  • Personalised provider pricing
  • Temporary promotions
  • New-customer offers
  • Payment-method fees
  • Receiving-bank charges
  • Intermediary-bank charges
  • Taxes
  • Regulatory costs
  • Location-specific pricing
  • Changes occurring after comparison data is retrieved

RateMigo should be used as a research and comparison tool, not as a substitute for checking the final transaction details provided by the money transfer provider.

Before You Send Money

  1. 1.Check whether the RateMigo result is labelled Estimated or Live quote.
  2. 2.Visit the provider's website.
  3. 3.Confirm the current exchange rate.
  4. 4.Confirm all applicable fees.
  5. 5.Check the final recipient amount.
  6. 6.Review the estimated delivery time.
  7. 7.Review the provider's terms and conditions before completing the transaction.

Improving Our Comparison Methodology

RateMigo is continuing to develop its comparison tools and data integrations.

As additional provider integrations and data sources become available, our methodology and comparison capabilities may change.

When meaningful changes are made to how RateMigo collects, calculates, or presents comparison data, this methodology page may be updated to reflect those changes.

Explore Money Transfer Comparisons

Review supported currency corridors and compare reference exchange-rate data, estimated provider scenarios, and live quotes where available.

Compare Transfer Options →

We may earn a commission when you use our links. This does not affect our data labels or comparison structure.