Fees
What it costs to send with Yakinly. We show the exact figures before every payment and on every receipt.
1. Our fee
[Add rows by country or payout method if fees differ.]
2. Our exchange rate and margin
Our exchange rate includes a margin, which is how we earn money on the currency conversion. We show the margin in pounds before you pay, so you can see the full cost. We calculate it by comparing our rate with [reference rate source].
3. How a payment is worked out
For monthly plans, the amount you send each month includes our fee:
- Amount converted = amount you send − our fee
- Amount received = amount converted × our rate
Example (illustration only): you send £200; our fee is £[x]; £[x] is converted at our rate of [x]; Mum receives [x] BDT.
4. Other charges
- We do not charge for receiving your payment or for returning money to you.
- For some international bank transfers, the receiving bank may charge a fee. When that applies, we show the expected amount before you send.
- Your own bank does not usually charge for Faster Payments or standing orders, but check with them.
5. Bangladesh government incentive
For eligible payments to Bangladesh, the Government of Bangladesh pays an incentive (currently [2.5]%) through the receiving bank. It is not paid by Yakinly, and it is shown separately from the amount we send.
6. Changes to our fees
We will give you at least [two months’] notice before changing the fees or rate method that apply to your monthly plans.