The dollar tax, quantified
What the second spread costs you
Pick a pair and a monthly volume. We show what a three-currency rail takes in a second conversion, versus one on Modality. Figures use sample spreads and are illustrative, not a quote.
All 36 currencies are in the picker.
| Measure | Correspondent route | Modality route |
|---|---|---|
| Settlement time | 2–5 days | Same day |
| Total cost | 1.5–3% | One spread |
| Availability | 9–5 | 24/7/365 |
| Conversions | Two | One |
| Rate known | After | Before |
Typical correspondent path: fees and FX markup across all legs.
Estimate for the second spread alone
Monthly volume
Three-currency rail (2 spreads)
Modality (1 spread)
You avoid roughly $3,500 each month
Sample assumption: each currency conversion adds 0.35% all-in. Real pricing is quoted before you commit, and major-to-major pairs need no dollar leg at all.