FX transactions are hard to understand for some companies.
When you buy or sell a currency, your traditional provider usually charges several fees: a fixed FX conversion commission, an international transfer fee and the spread included in the FX conversion rate applied.
The spread is the difference between the market rate to buy US dollars at a given time and the rate that your provider offers you, that is the actual rate at which you buy the US dollars.
If the market price is 1.20, it means that for every €1 sold you will buy $1.20. Your partner will give you a downgraded price, for example 1.19. On each € sold, your partner's margin is $0.01... At first sight, this is not much... but let's do the calculation on €1,000,000: this represents a margin of $10,000 for your partner.
If you add to this « spread effect » a fixed commission of 0.5% and some fees on the international transfer, for example, the overall cost of your transaction climbs.
Keewe does not charge any fixed commission on your FX conversion and the spread is negotiated with you.
No more bad surprises!