- *Intermediaries*: Banks, money‑transfer operators, and correspondent networks each take a cut, adding fees and hidden markup on exchange rates.
- *Processing times*: Traditional rails can take days, so providers charge extra for “speedy” services, and currency conversion delays can swing rates against you.
- *Regulatory & compliance costs*: KYC, AML checks, and local licensing add overhead that gets passed to the sender.
- *Blockchain alternatives*: Decentralized ledgers can cut out many middlemen, settle in minutes, and use transparent, often lower fees—think stablecoins or Ripple’s network. But they still face on‑ramp/off‑ramp costs, volatility risk, and regulatory hurdles.
Bottom line: the mix of fees, exchange‑rate margins, and slow legacy systems inflates costs, while blockchain could streamline it—if you can navigate its own challenges. Want a deeper dive into a specific corridor or a comparison of fees? 🚀🔗📊