Why RateCheckr exists

Like many NRIs, I send money to India every month. For years, I used Remitly — it was fast, the app was good, and “$0 fees” sounded like a great deal. I never questioned it.

Then one evening, out of curiosity, I checked Wise. Same $1,000 transfer. Same day. The exchange rate looked different — and Wise showed a $4.50 fee. My first thought: “Remitly is still better because it's free.” But when I compared the actual ₹ received, the numbers told a different story.

So I decided to track it properly. For all of 2025, I recorded the mid-market rate on the 15th of each month and calculated what $1,000 would deliver through five different providers — after all fees and markup.

The real numbers: $1,000/month on the 15th, all of 2025

What surprised me

At $1,000/month, Remitly was the best choice all 12 months. The gap between Remitly and Wise was only ₹523 for the entire year — roughly ₹44/month. Wise's $4.50 fee ate into its rate advantage at this transfer size.

But here's what changed everything: I ran the same analysis at $5,000/month. Suddenly, Wise won every single month — and the annual gap was ₹16,207. That's real money. A domestic flight for my parents.

And bank wire? The numbers were painful. ₹57,642 less than Remitly over the year. At $1,000/month. The $35 fee plus ~2.5% markup destroys value at every amount.

The insight that became a product

The answer to “which provider is best?” depends entirely on how much you send. No comparison site told me this. They all said “Wise is cheapest” or “Remitly has $0 fees” — both technically true, both potentially misleading depending on your amount.

That's why I built RateCheckr. One simple question: who delivers the most ₹ to your family for your exact transfer amount? Checked daily. No affiliate bias in rankings. Honest about tradeoffs — including when a competitor is the better choice.

This isn't a fintech company. It's a tool built by someone who sends money home and wanted a straight answer.

RateCheckr is built to answer one question: for your amount, today — is switching providers actually worth it?

Methodology notes

• Mid-market rates are monthly averages from x-rates.com, used as proxy for 15th-of-month rates
• Wise fee: ~$4.50 on $1,000 via ACH. Mid-market rate, no markup.
• Remitly: $0 fee above $1,000. Estimated ~0.4% markup on mid-market rate (Express delivery).
• Xoom: $0 fee. Estimated ~0.7% markup.
• Bank wire: $35 fee + estimated ~2.5% rate markup (typical U.S. bank international transfer).
• Western Union omitted from table for readability; typically falls between Xoom and bank wire.
• All figures are estimates. Actual rates and fees vary by day, payment method, and provider pricing.

This is not financial advice. All rates and calculations are approximate. Verify with providers before transferring. For questions: support@ratecheckr.com