This is how they all work including western union. It's not a secret but it's not really talked about either.
No one pays FX fees on each transfer. Single large rebalancing transfers allows them to actually move money at optimal times and rates with bulk discounts. Then they can currency hedge and get larger spreads on the actual fx rate.
No one pays FX fees on each transfer. Single large rebalancing transfers allows them to actually move money at optimal times and rates with bulk discounts. Then they can currency hedge and get larger spreads on the actual fx rate.