Executive summary: This guide provides recommendations on efficiently transferring funds to low and middle income country organizations to minimize fees and other losses, potentially saving 1-20% of donations. It advises using Wise for best rates, minimizing intermediaries, sending in recipients’ currencies, and checking alternatives like SendWave if needed.
Key points:
Use Wise for low fees (~0.7%) and good transparency.
Make direct bank transfers when possible to avoid multiple fees.
Send donations in the recipient’s currency to control exchange rates.
Check SendWave if Wise doesn’t work for a country.
Consider WorldRemit, bank transfers, PayPal as backups with higher fees.
Contact intermediaries for large or frequent transfers to seek better rates.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, andcontact us if you have feedback.
Executive summary: This guide provides recommendations on efficiently transferring funds to low and middle income country organizations to minimize fees and other losses, potentially saving 1-20% of donations. It advises using Wise for best rates, minimizing intermediaries, sending in recipients’ currencies, and checking alternatives like SendWave if needed.
Key points:
Use Wise for low fees (~0.7%) and good transparency.
Make direct bank transfers when possible to avoid multiple fees.
Send donations in the recipient’s currency to control exchange rates.
Check SendWave if Wise doesn’t work for a country.
Consider WorldRemit, bank transfers, PayPal as backups with higher fees.
Contact intermediaries for large or frequent transfers to seek better rates.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, and contact us if you have feedback.