To determine the cost of a transaction today, consumers have to conduct a complex calculation multiplying the provider’s exchange rate with the amount they’re transferring, adding fees, and then repeat the same exercise using the real exchange rate on Google It’s time-consuming and difficult. That’s how so many banks and providers can conceal such significant revenue in exchange rate mark-ups. 

£5.6 billion lost by UK consumers and small businesses in these hidden exchange rate mark-ups. Transparent pricing will end hidden fees and potentially help save billions for newly empowered consumers.