Guides

We designed our comparison methodology to evolve with the needs of our users, ensuring that our platform remains a leading resource for fair, accurate, and comprehensive money transfer comparisons. Our goal is to empower users with transparent and up-to-date information, enabling them to make informed decisions when choosing money transfer services. By continuously refining our methods and incorporating user feedback, we strive to set the standard for excellence in the industry. Additionally, we are committed to remaining free from affiliate influences to ensure our comparisons are unbiased and trustworthy.

Below are the basics:

• Excluding Promotional Rates: Sendrater excludes promotional rates to provide a more consistent and realistic view of long-term transfer costs. However, we recognize their potential value to users and plan to incorporate an option to show promotional rates in the future.
• Focusing on the Cheapest Receiving Method: Our current focus is on showcasing the cheapest option among various receiving methods, such as credit card, bank transfer, mobile money, or cash pickup. Initially, we prioritized the most cost-effective methods based on user demand. However, to provide a more comprehensive service, we are working on including comparisons across all these receiving methods. This enhancement will offer a complete view of options, ensuring users have access to a wide range of choices regardless of their preferred method of receiving funds.
• Regularly Updating Rates and Fees: We maintain the accuracy of our platform by updating rates and fees several times daily. This practice ensures minimal discrepancies and offers users reliable information for making informed decisions on money transfers.
• Incorporating User Feedback for Continuous Improvement: We actively reflect your feedback, especially regarding discrepancies and suggestions for expanding our list of providers and corridors. This approach allows us to rapidly adapt and enhance our platform, aligning it more closely with user needs.
• Data Collection Methods: We pull data through a variety of sources several times a day, including APIs from providers, publicly available data, and structural comparisons. If you are a provider and believe we misrepresent your data, please contact us so we can remedy it.
• Rate and Fee Exclusions: We remove all promotional fees and rates, as we believe this does not represent long-term competitiveness. We also use the most efficient/cheapest method of money transfer (e.g., if a transfer to a mobile money wallet is cheaper than bank, credit card, or cash transfers, we use that), so you know the baseline. Additionally, we do not include extra fees such as premiums for faster transfers. What you see is the best published price.
• Timing and Data Discrepancies: We do not pick prices from providers simultaneously but always within 60 minutes of each other. Therefore, there might be some discrepancies due to timing issues. For our enterprise customers, we can customize the frequency of updates.
• Provider Inclusion Philosophy: We strive to include the full spectrum of providers. While we can add more banks, we find that their prices are often the least competitive, and smaller companies are miles ahead of them in efficiency. The few banks we include are just to give you a sense of how other banks may price themselves.

Leaderboard Calculations:

• Unbiased Weekly Leaderboard Calculation: Our leadership ranking is straightforward and fact-based. We determine this ranking by dividing the number of top 3 placements a provider has by the total number of competitive corridors they operate in, as represented on Sendrater. A competitive corridor is defined as a corridor with at least five providers actively competing. This ratio accurately reflects each provider's performance, ensuring our leaderboard is both comprehensive and fair.
• We are committed to expanding our coverage with more providers and corridors, enhancing the relevance and breadth of our leaderboard. If you believe we should include a particular provider in a specific corridor, please contact us.  We grow our corridor/provider counts mostly based on user feedback.