MuchBetter Fees, Explained

Click here for a thorough guide to all of MuchBetter's fees, along with answers to the web's most commonly asked fee-related questions.

D. Richardson

Sep 09 2022

MuchBetter is one of the most popular and widely accepted e-money transfer services on the market. They’ve built a strong following due to the ease of use and reasonable rates the platform offers, though they’re not perfect. Many new users struggle to understand the fees associated with their MuchBetter account - and that needs to change.

So, we’re walking you through all fees associated with your MuchBetter account today. After that, we can chat here and there about a few smaller questions, but first - let’s see what’s on the schedule for the day.

Today’s Topics Include: 

Now let’s get you fee-free (or as close as possible) on MuchBetter.

MuchBetter Fees 101

Before we get into answering the more nuanced questions below, it really makes sense to start with the main topic of our discussion today. So first up, we’re covering the actual fees on all MuchBetter accounts, broken down in a (theoretically) simple and easy-to-understand format.

MuchBetter Fees Explained

Fees are commonplace in the e-money world - after all, if financial institutions like banks can do it, why not everyone else? MuchBetter, though, has actually broken through that issue, offering shockingly competitive rates on fees for its users. In fact, they have some of the lowest fees on crypto, P2P and merchant transactions out there!

Here are MuchBetter’s fees by category:

Deposit Fees: 

  • Bank Transfer: Free.
  • Cash: 7.5%
  • Crypto (ETH, BTC, more): 2%
  • Debit Card: Free.
  • Pay by Bank app: Free.

Click here for the MuchBetter guide to various forms of deposits.

With a MuchBetter account:

  • Peer-to-Peer (P2P): Free.
  • Receive P2P: Free.
  • Merchant transactions: Free.
  • Request a gift: Free.
  • Request money from a friend: Free.
  • Currency conversion (FX): *0.99%

*Conversions between USD, EUR, and GBP. All other currencies will vary based on current market value.

With a MuchBetter Card:

  • Online transactions: Free.
  • Use in person: Free.
  • Contactless: Free.
  • ATM: 0.99%
  • Currency conversion: *0.99%

  Click here for the MuchBetter help guide to MuchBetter cards and their fees.  

*Conversions between USD, EUR, and GBP. All other currencies will vary based on current market value.

Withdrawal Fees:

  • Cryptocurrency (BTC, ETH, more.): 2%

Click here for a guide from MuchBetter on the recent changes applied to Interac fees.

Does MuchBetter Charge to Send Money?

This question has two answers: while it can cost to send money, this varies on the person to whom you’re sending the money. P2P (in-platform) transactions are free between MuchBetter users, as are merchant transactions - though currency conversion will cost you a little bit of money.

In short, if you’re trying to send money to a friend that’s in your country and on MuchBetter, it’ll be free - assuming you don’t need to convert the funds first. (And even then, if you’re converting GBP, EUR, or USD between each other, that’s free, too.)

Why Does MuchBetter Charge for Withdrawing?

MuchBetter charges for withdrawals because it’s industry standard for financial institutions, e-wallets, P2P lenders, and the like. 

Regardless of where you live, most withdrawals through any service will cost you something. While many remain below roughly €10, others will be more expensive. It’s worth noting that this is because it costs MuchBetter money to process your transactions - they’re not trying to fleece you.

Why is MuchBetter So Expensive?

Realistically, MuchBetter isn’t expensive. 

While I don’t expect you to just take me at my word, the reality of the matter is that MuchBetter keeps things incredibly competitive. They charge fees well below the industry average for most transactions and offer many for free! But let’s just remind you of the numbers first, yeah?

  • MuchBetter only costs €10 to register, and that money stays in your account (it’s a deposit).
  • MuchBetter verification is entirely free.
  • P2P transactions between MuchBetter users are always free, as are merchant transactions.
  • The only regular fees most users will incur are from withdrawals.


While there can be a bit of confusion over what MuchBetter charges, when, and why, there really shouldn’t be. They’ve done an excellent job of streamlining the fees into a few easily understood categories and charge incredibly low fees on most services. Once you add in that P2P and merchant transactions are free of charge, MuchBetter is looking pretty dang good.

It’s also worth noting that the 2% fee on crypto is incredibly competitive, as some similar services charge as much as ~4% on crypto transactions. Ultimately, MuchBetter is a top-tier e-money service, and its low fees reflect that truth. 

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