In a fiat-driven world, we face high bank fees, particularly for cross-border transactions, which burden individuals and businesses in a global economy.
Costs can quickly add up; for instance, transferring $3,000 yearly can cost around $150 in fees, money better spent on personal expenses like shoes.
Transfer fees stem from several factors; common transaction fees can range from $15 to $50, with higher percentages for larger sums, significantly impacting senders.
Currency conversion fees often see banks adding a margin of 1-3% to the exchange rate, diminishing the value of your transfer.
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