In 2019, the world paid $49 billion in remittance fees, sending money to friends and family abroad.
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.
Who's getting hit the hardest?
€12.5 billion lost by European consumers
8 out of 9 Europeans who have made a foreign currency transaction still can't work out the cost of a transaction
£5.6 billion lost by UK consumers and small businesses
Small businesses can be penalised for being 'unsophisticated' and unaware of the impact of an exchange rate margin
$4.3 billion lost by Canadians while sending or spending money abroad
1 in 7 people think it’s free to send money abroad.
The answer is simple: What you see should be what you pay.
What's the solution?
We believe in transparent pricing. In fact, that's the whole reason Wise 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.
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.