Finance & Irish taxes · Calculator companion · By K Imports
FX transfer fees and markup: practical guide
This guide explains how to use the Count.ie fx transfer fees and markup. Compare money received with a mid-market conversion before fees. Follow the inputs, method and worked example below, then compare your own scenario.
Guide written .
Open the FX transfer fees and markup calculatorWhat to prepare
- Have the figures for total source-currency amount, mid-market destination per source and provider destination per source ready, from a dated document, with the period (annual, monthly or per transaction) that each input expects.
- Note the date of the transaction, since this model has no year selector and fixed rates may have changed.
- Separate known facts from assumed rates before relying on the headline result.
Understand the inputs
The calculation method
Deduct the source fee, apply the provider rate, deduct the destination fee, then compare with mid-market value.
Worked example
Illustrative inputs and their result.
Example inputs
- Total source-currency amount
- 1000
- Mid-market destination per source
- 0.85
- Provider destination per source
- 0.83
- Source-currency fee
- 5
- Destination-currency fee
- 2
Calculated example result
- Destination Received
- 823.85
- Effective Fee Percent
- 3.0765%
How to interpret the result
Enter current quotes; no live FX fetch. Distinguish a tax saving, a tax bill, cash received and money remaining: they are not interchangeable. An estimate does not establish eligibility, filing compliance or when a refund will be paid.
Change one input of fx transfer fees and markup at a time and record the result; keep a record of the year, date and assumptions so a change in the result can be explained.
Common mistakes to avoid
- Do not mix tax years or apply a newly announced measure to an earlier transaction.
- Avoid counting an allowance, credit, contribution or loss twice.
- Check exclusions and personal circumstances before relying on the headline result.
Assumptions and sources
Enter current quotes; no live FX fetch. Rates are destination currency units per source unit.
If your case falls outside this scope, use a more suitable calculator or contact us about an unclear method.