Calling for more action: The state of transparency in the UK
Much of it was hidden in inflated exchange rates.
We are asking business, government and civil society to pledge to end the lack of transparency that keeps remittance prices artificially high. We believe there should be nothing to hide.
Stop misleading consumers
Make hiding charges illegal
Show the true cost of international payments today
Together, we can achieve this.
Let's get it to 100,000
We want to help achieve the United Nations Sustainable Development Goal to reduce the cost of remittances below 3% by 2030. We can help achieve this goal by making international payments transparent. Hidden fees keep prices artificially high.
What does this mean?
Transparency means that banks and providers will show the real costs of sending or spending money abroad.
How will we do this?
We’ll be honest with our prices. And, we will inform and empower consumers to ask their politicians and policymakers to act to make sure everyone else is honest too