We've Updated Our Pricing Strategy and Here's Why
Welcome to Xuno 2.0.
We're not just upgrading, we're undergoing a bold, phase-by-phase transformation: from a money transfer service to a freedom-fueled digital bank.
Why? Because the way money transfers have worked for decades is broken, buried under hidden fees, confusing rates and forsaken transparency. Xuno 2.0 is built to end this rigorous guesswork, with mid-market exchange rates, transparent fees, and total control in your hand. Too good to be true?
In this blog, we'll walk you through what's changing, and more importantly, why.
Phase 1: Unveiling the Hidden Fees of Money Transfers
Sending money home often feels like a treasure hunt—“hunting rates” between apps to find the best exchange rate.
- Some offer “high rates” with low fees.
- Others promise “zero fees” but give poor rates.
Here's how hidden fees exist in your usual money transfer:
We started with 'zero-fee' transfers by adding a small margin to the exchange rate to cover costs. It's how the industry works.
But we knew there had to be a better way.
That's why we've investment millions to evolve into a digital bank that puts absolute control in your hands. With our new infrastructure, we're offering Mid-Market rates and low fees in the industry to help you send money home, better than ever.
Understanding Mid-Market Rate (MMR):
In definition, the Mid-Market Rate (MMR) is the midpoint between the global buying and selling prices of a currency. A bit complicated right?
In simple words, MMR is nothing but the "selling price of a currency", it changes constantly because the forex market is volatile as per global trade and demands. MMR is not set by any one official entity. Hence, it is considered the most trusted benchmark.
At Xuno, we offer MMR for fast payments with a small, transparent fee (low in comparison to all in the industry).
Not in a rush to send money home? Then, we'd strongly recommend you to choose our Bank Rate option. At zero fees, your receivable amount will always higher than others.
Bank Buying Rates or Wholesale Rates
Bank rate, or wholesale rate is the exchange rate published by banks. This is essentially the rate at which they buy USD from the market. In Nepal, this rate is set by FEDAN (Foreign Exchange & Money Dealers Association) and is regulated by the Central Bank of Nepal. These "Buying Rates" are updates twice a day: 10 a.m. and 2 p.m. on business days.
Put simply, the wholesale rate is the highest exchange rate you can get and with Xuno's Best Deal option, you get exactly that.
Conclusion
Whether you choose the Mid-Market Rate for speed or the Bank Rate for maximum value, one thing stays constant: you always know exactly what you're paying and what your loved ones are receiving.
This is more than a pricing update. This is Xuno 2.0, a level up in our ongoing transformation.
Download the Xuno App and send more money than ever to Nepal!