Canadians lose $13 billion annually when sending or spending money abroad.
Even worse, they're totally unaware of it. We commissioned independent research and were startled by the results.
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.
We’ve launched a campaign to stop this confusing practice. We need your support. Sign our petition and ask the government to end these hidden exchange rate markups.
Who's getting hit the hardest?
$1.1B lost by Canadian vacationers
Even your “no foreign transaction fees” credit card may inflate the currency conversion rate by up to 3%
$5.5B lost by Canadian small and medium-sized businesses
74% of businesses were completely unaware they were charged through an inflated exchange rate
$1.3B lost by Canadians sending money abroad
80% of consumers were completely unaware of how they were charged
What you see should be what you pay.
We believe in transparent pricing. In fact, that's the whole reason Wise exists.
Our fight for fair pricing in the European Union succeeded, and it's now a requirement for banks and providers to show their true costs upfront within the EU. We want Canada to make transparency a requirement in international payments, too.
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.