Most people focus on the fee — but the fee is NOT the full picture.
The true cost of sending money includes multiple factors that many providers hide from you.
The TRUE COST includes:
Transfer Fees
Upfront charges you see
Exchange Rate Margin
Hidden profit in the rate
Delivery Speed
Time costs money
Hidden Charges
Extra fees you don't expect
Let's break down each cost factor so you know exactly what you're paying.
1. Transfer Fees: The Upfront Cost
This is the fee you can see — but it varies dramatically between providers:
🏦 Banks
Charge between £10–£40 per transfer
Often the highest fees with slowest service
💵 Cash Transfer Shops
Charge 5–10% of the transfer amount
Variable fees depending on location and amount
📱 SendHome
Fees start from 2.9%
Transparent, competitive, and clearly displayed
💡 Pro Tip: A low fee means nothing if the exchange rate is terrible. Always look at the total cost!
2. Exchange Rate Margin: The Hidden Profit
⚠️ This is where most companies HIDE their profit
Many providers don't charge a high upfront fee — instead, they make money by giving you a poor exchange rate.
📊 Real Example:
Real Market Rate:
£1 = 31 SLE
What some providers offer:
£1 = 27–28 SLE
💸 The difference (3-4 SLE per pound) goes straight to them as hidden profit!
On a £100 transfer, this hidden markup costs you £10-15!
That's money taken from your family without you realizing it.
SendHome offers live, transparent rates
Updated constantly to match real market conditions. No hidden margins.
Check live rates now →3. Delivery Speed: Time Is Money
When your family needs money urgently, every hour counts.
| Provider | Delivery Time | Emergency Ready? |
|---|---|---|
| Banks | 2–5 business days | ❌ Too slow |
| Cash Pick-up | Several hours | ⚠️ Maybe |
| SendHome | 1–3 minutes | ✅ Perfect |
⚡ Faster delivery = Better support for family emergencies
Medical bills, school fees, urgent needs — your family gets help when they need it most.
4. Hidden Costs: What They Don't Tell You
⚠️ Some companies add extra charges you don't expect:
Receiving fees
Your recipient pays to collect the money
Agent fees
Local agents take a cut
Rural area surcharges
Extra fees for delivery outside major cities
Currency conversion fees
Additional charges buried in terms and conditions
SendHome: 100% Transparent Pricing
We show you the exact amount your recipient will receive before you pay.
No surprises. No hidden fees. No tricks.
Conclusion: How to Save Money
💰 To get the best value when sending money to Sierra Leone:
Look at the TOTAL cost
Don't just focus on the fee — check what your recipient actually receives
Choose instant mobile money payout
Faster, safer, and more convenient than cash pick-up
Avoid high exchange-rate mark-ups
Use platforms that show live, transparent rates
✅ SendHome makes this simple, transparent, and affordable.
No hidden fees. No poor exchange rates. No waiting days for delivery.
See Today's Live Rates
Check exactly how much your family will receive before you send. No surprises.
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Frequently Asked Questions About Transfer Costs
What is the real cost of sending money to Sierra Leone?
The true cost includes: (1) Transfer fees (2.9%-10%), (2) Exchange rate margin (hidden profit), (3) Delivery speed impact, and (4) Hidden charges some providers add. Always check the total amount your recipient receives, not just the upfront fee.
Why do exchange rates matter more than fees?
Many companies hide their profit in poor exchange rates. For example, if the real rate is £1 = 31 SLE but they offer 27 SLE, you lose 4 SLE per pound sent. On a £100 transfer, that's £12-15 lost to hidden margins.
What hidden fees should I watch out for?
Common hidden costs include: receiving fees (charged to your recipient), agent fees, rural area surcharges, and currency conversion charges. SendHome shows the exact amount your recipient receives upfront with no hidden fees.
How can I save money on remittances to Sierra Leone?
To save money: (1) Compare total costs, not just fees, (2) Use instant mobile money platforms with transparent rates, (3) Avoid providers with poor exchange rates, (4) Send regularly with smaller amounts to reduce percentage fees.