Even worse, they were totally unaware of the majority of the cost.
That’s because banks intentionally mislead on exchange rates. They often advertise “$0 fee” or “no fee”, while setting their own currency conversion rates and pocketing huge profits.
That’s why we’ve launched the Nothing to Hide foundation. This campaigning organisation aims to raise awareness of these unfair practices amongst policymakers and politicians globally. Eventually, we aim to build this into an independent foundation pulling together the most committed, and seasoned campaigners across the globe.
Join us and help ask the politicians to end hidden exchange rate markups for everyone, everywhere.
8 out of 9 Europeans who have made a foreign currency transaction still can't work out the cost of a transaction
Small businesses can be penalised for being 'unsophisticated' and unaware of the impact of an exchange rate margin
1 in 7 people think it’s free to send money abroad.
We believe in transparent pricing. In fact, that's the whole reason TransferWise exists.
At a time when budgets are strained, we think it’s more important than ever that people have access to transparent payments, so they know exactly how much will arrive on the other end. Help up get there and make finance fairer for everyone.
Sign our petition to ask the government end the hidden fees on international payments.
And share the petition with your friends—let's make sure they know what they pay, too.