The British public lost £5.6 billion annually when sending or spending money abroad.
Even worse, they were totally unaware of it.
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.
The Government is now considering new rules could save Brits billions, but banks are fighting hard to water down the changes. But we want to stop them.
Who's getting hit the hardest?
£1 billion lost by British vacationers
Even your “no foreign transaction fees” credit cards and bank transfers contain inflated exchange rates
Over £4 billion lost by UK small businesses
Small businesses can be penalised for being 'unsophisticated' and unaware of the impact of an exchange rate margin
£5.6 billion lost to hidden currency conversion charges
71% of consumers who regularly transfer money abroad miscalculated the amount they are being charged when shown a standard pricing structure, with a staggering 52% thinking the transfer was free.
Let's change the law.
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.