IMTI – What it is and How it is Calculated
IMTI, or in full, the International Money Transfer Index™ (IMTI™) provides a measure of the cost of international bank-to-bank money transfers from countries around the world such as Australia, Canada, the UK and US. The IMTI is of help to those who are looking to better understand the costs of transferring money internationally.
It provides a detailed full methodology on how the IMTI is captured and updated. The rates that banks charge for international money transfers differ across countries and across transaction sizes. The IMTI is updated monthly and the numbers shown on different FX Broker websites that are based on the latest data collected. An estimate is also calculated for other countries globally for use where data for that country was not collected or available. Our analysis suggested that estimations will typically under-estimate the true bank cost – for example the costs of exchanging a more exotic currency will be higher than a core currency pair such as GBP to USD
What currencies can be compared?
The most common currencies compared on the site are the UK Pound, US Dollar, Australian Dollar, Canadian Dollar, New Zealand Dollar and the Euro. There is also a large number of enquires for less mainstream currencies and exotic currencies as well. Please also note that there are a number of countries and currencies that have restrictions, most notably when trying to send money out of the country.
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