Why sending money home still costs too much — and how we're fixing it
Remittance fees quietly drain billions from the families who can least afford them. Here's where the money goes, and how Dara cuts it out.
Every year, migrants send more than $650 billion home to their families. On average, nearly 6% of it never arrives — lost to fees, exchange-rate markups, and middlemen. For the families who depend on it, that is not a rounding error. It is groceries, school fees, and rent.
The fee behind the fee
The fee you see is rarely the fee you pay. The real cost is hidden in the exchange rate — marked up two or three percent before a single dollar moves. You are quoted a “low fee,” then handed a worse rate.
Here is what a typical $300 transfer actually costs:
| Method | Upfront fee | FX markup | Arrives in |
|---|---|---|---|
| Bank wire | $25 | ~3% | 2–5 days |
| Transfer app | $4 | ~2% | Minutes–hours |
| Dara | $1 | 0% (mid-market) | Seconds |
For a family sending $300 a month, a 6% cut is a week of groceries — every single month.
Where the money actually goes
Three intermediaries usually touch your money before it lands:
- Your sending bank or app, which takes the upfront fee.
- Correspondent banks in the middle, each shaving a margin.
- The payout partner abroad, which sets the local rate.
How Dara removes the markup
We settle on modern rails and show you the mid-market rate — the same rate you would find on a search engine — with one small, visible fee. No relay of correspondent banks. No mystery hold.
Common questions
How fast does the money arrive?
What is the mid-market rate?
The deeper you look, the clearer it gets. Start here:
Responses