[chx]

I just looked into the (relatively) new CIBC Global Money Transfer and it quotes me 4313 CAD for the other end to receive 1 000 000 HUF while TransferWise quotes 4298.23, a tiny 0.34% difference. However, TransferWise still has the huge, huge advantage of not sending a SWIFT transfer in a lot of countries -- this is the fee you mentioned, the recipient can be charged for receiving a SWIFT wire and you can't know ahead of the time -- when sending a proper wire from the branch you can volunteer as tribute erm accept those charges but the Global Money Transfer doesn't allow for this AFAIK. TransferWise uses local giro wherever they can. It also makes for a smoother experience, I just looked into it and quite a few forums are full of complaints -- SWIFT is old and finicky, no doubt at that. They also offer accounts connected to various giros as well , so you can have a HUF account, a SEPA enabled EU account and so forth.