There are some micro finance bank my people are using, if you are using their mobile app to do your transfer, the fee is kept at a flat rate of $0.00145 but if you go into their office to do the transfer using teller, the fee will be charged at a certain percentage depending on the amount you are withdrawing or depositing. In commercial banks, both their mobile app and going to the bank office to do the transaction, fee is charged in percentage. Bitcoin transaction in very low now and decentralized, no body has to know who you are sending the money to, unless you used a centralized platform and the person also used address from centralized platform to receive the coins.

the real cost, if sent in Fiat would be determined by many factors...probably it is required also some paper too for AML...
to have a proper estimate first of all would be based on the location of users trading/have the deal.

Moving such amounts would require specific condition (it's likewise 35 million USD) - likewise ask a pre-approval from bank. and so.
you had to check what kind of FIAT would be used. Funds received in the same currency? Moreover you had to see how much fast they would expect to receive it (there is a weekend in the middle?)

Bitcoin transaction fees are not actually cheap with many people but here is the thing.

Bitcoin transaction fee = Bitcoin transaction size * transaction fee rate.
Transaction size depends on your Bitcoin inputs for your sending transaction as well as outputs of it. The less input and output, the less transaction size is. There are other things like address types.

Transaction fee rate depends on you, if you use a non custodial wallet, you can observe Bitcoin mempools and choose a cheapest fee rate but can still be confirmed by Bitcoin miners. If you use centralized exchanges, they will proceed your withdrawal with a fee rate on a tip of mempool, that means they pay high fee rate and charge you expensive fee too.

https://learnmeabitcoin.com/technical/transaction/fee/
https://bitcoincalculator.tools/calculators/transaction-fees
https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,fee

The thing about using fintech banks (mobile banks) is that you must complete the highest tier of KYC to be able to send an equivalent of 500 BTC when converted to local fiat, for this transaction, the fee will go beyond the flat rate, as a matter of fact, the banks might need further verification and compliance before such an amount will be withdrawn, unlike using a non custodial wallet for transaction.

Spending $1 as a fee for that many Bitcoins is very cheap, banks are not going to approve such transactions at a flat rate, for commercial banks, your presence will be needed for approval.

I enjoy the freedom of Bitcoin more than the transaction fees. Where banks have to stand in long lines and face accountability from bank officials to make large transactions, Bitcoin does not. I usually do not worry much about bank fees and Bitcoin fees, mainly because of the convenience, freedom, accountability-free and secure transactions that I prefer Bitcoin.

I often make very large transactions very quickly with a fee of only $0.9 -$0.21, in a bullish market the costs can increase a little, but most of the time I make transactions very quickly with very low costs. Usually I do not change sat/vbyte during the transaction, I just transact with what the wallet suggests to me. However, the fees are now very low which is a fraction of my local bank, the biggest thing is that I do not have to bear the travel costs, do not have to stand in long lines and do not have to face accountability.

This is the biggest benefit of bitcoin, you can send as much money as you want and the fee would be minimal compared to flat fee by banks that'd land around $100 for the transaction.

The biggest problem with bank money transfer isn't the fee though, it's the amount. You will either face account limit or if limit isn't a problem and you send that much money you will trigger automated compliance review unless you have HNW account.

Bitcoin is honestly the smoothest means of sending money but a lot of people overlooked this fact and only seeing the investing value.