For decades, sending money internationally meant paying expensive fees. Western Union charges $5-25 per transfer. Banks charge $25-50. Even newer apps charge $3-5. At Stratum Remit, we decided to do something different: we eliminated transfer fees entirely. Here's why—and how it benefits you.
The True Cost of Traditional Remittances
The global remittance industry moves over $700 billion annually. But senders lose billions of dollars to fees and unfavorable exchange rates. Let's break down the typical costs:
Traditional Wire Transfer (Bank) - Transfer fee: $25-50 - Exchange rate margin: 3-5% - Receiving bank fee: $15-25 - **Total cost on $500 transfer**: $60-100 (12-20%)
Traditional Money Transfer (Western Union) - Transfer fee: $5-25 - Exchange rate margin: 2-4% - Cash pickup fee: Sometimes additional - **Total cost on $500 transfer**: $20-45 (4-9%)
Modern Remittance Apps (Typical) - Transfer fee: $3-8 - Exchange rate margin: 1-3% - **Total cost on $500 transfer**: $8-23 (1.6-4.6%)
Stratum Remit - Transfer fee: $0 - Exchange rate margin: ~1% (transparently disclosed) - **Total cost on $500 transfer**: ~$5 (1%)
Why We Eliminated Fees
1. Fees Disproportionately Hurt Smaller Senders
A $5 fee on a $500 transfer is 1%. But on a $50 transfer? That's 10%. Many people sending money abroad need to send smaller amounts regularly—weekly allowances, emergency help, or small contributions to family expenses.
By eliminating fees, we make small transfers just as efficient as large ones.
2. Fees Create Mental Friction
Every time you have to pay a fee, you think twice. "Is this transfer worth the $5?" This friction prevents people from sending money when their family actually needs it.
With zero fees, you can send $20 to your mom without second-guessing it.
3. Transparency Builds Trust
Many companies advertise "low fees" but hide costs in the exchange rate. We wanted to be different. At Stratum Remit, we make money one way: a small, transparent margin on the exchange rate.
- The current mid-market rate
- Our rate (with margin)
- Exactly what your recipient will receive
No hidden costs. No surprises.
How Can Stratum Remit Afford Zero Fees?
People often ask: "If you don't charge fees, how do you make money?"
The answer is simple: we make a small margin on the exchange rate, just like everyone else. The difference is:
- We don't charge additional fees on top of that
- We're transparent about our margin
- We keep our margins competitive
- AI-powered operations reduce manual work
- Modern cloud infrastructure scales cost-effectively
- We don't have expensive physical locations
These savings let us pass value back to you.
The Impact of Zero Fees
Let's say you send $200 to Nigeria every month. With traditional services:
- Annual fees: $60
- Over 10 years: $600
- Annual fees: $0
- Over 10 years: $0
- Your savings: $600+
That's $600 more that goes to your family instead of a corporation.
Zero Fees + AI = The Future
We believe the future of remittances isn't just about zero fees—it's about making the entire experience effortless. That's why we built Kora, our AI assistant.
Instead of: 1. Opening an app 2. Navigating menus 3. Entering recipient details 4. Entering amount 5. Reviewing fees 6. Confirming transfer
You just say: *"Hey Kora, send $200 to Mom"*
And it's done. Zero fees. Zero friction.
Our Commitment to You
At Stratum Remit, we believe sending money to loved ones shouldn't feel like a transaction—it should feel like a gift. Our commitment:
- We will never charge transfer fees—not $5, not $3, not even $1
- We will always be transparent—you'll see exactly what you're paying
- We will keep innovating—to make sending money easier and more affordable
Join the Zero-Fee Movement
Millions of people still use expensive legacy services because that's what they know. By choosing Stratum Remit, you're not just saving money—you're supporting a better model for the entire industry.
When enough people demand transparency and zero fees, every company will have to follow. Let's make expensive transfer fees a thing of the past.
Ready to send money without fees? Download Stratum Remit today.