We've Updated Our Pricing 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 giving you the freedom to convert when the rate works for you.
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 high fees.
- Others promise “zero fees” but give poor rates.
We started by including a small margin in the exchange rate - the standard approach across the industry.
But we knew there had to be a better way.
With our new infrastructure, we're offering Mid-Market rates and the lowest upfront fees in the industry, helping you send money home, better than ever.
Understanding Mid-Market Rate (MMR):
In simple words, MMR is nothing but the "market 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 be 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 with ZERO fees.
Conclusion
Whether you choose the Mid-Market Rate for speed or the Bank Rate for maximum value, one thing stays constant: your recipient gets more in NPR and you save more on every transfer.
Visit the website and send more money than ever to Nepal!