Calling for more action: The state of transparency in the UK
- UK
"One of the most important factors leading to high remittance prices is a lack of transparency in the market. It is difficult for consumers to compare prices because there are several variables that make up remittance prices."
We are a global campaign led by Wise striving to bring transparent pricing to international payments to help achieve the UN Sustainable Development Goal of reducing remittance prices below 3% by 2030. We have a long way to go. The UK's average cost of sending remittances abroad is 6.3%.
The Nothing to Hide is a hub for individuals, businesses and policymakers where you can:
Help make price transparency the norm. Join the fight and help change the law!
“Nearly all of my work payments are from overseas in Euros, and I hate to think how much money I have lost through unfavourable exchange rates and hidden charges.”
“Having made or received money transfers to and from family and friends in Sweden I have been directly affected by hidden fees. With my bank, not only is their exchange rate appalling but you also get charged an extra fee for each transaction that you make.”