What $0.40 fee? Average tx size is 682 bytes. At 0.1 mBTC per KB that is $0.08 rounding up to nearest KB (current version) and $0.05 using actual size (planned for future version).
I may have to research this a little more, I sent .00042 to a charity as an example for someone and it charged me .0005 mBTC, not sure my why tx size was so large..it was through my blockchain iphone app so i ended up paying $.40 to send $.32.
Edit: .00092 was taken out, clarifying post