If you bank with Chase UK®¹ and you’re worried about the security of your payment card, you’ll be looking for quick and convenient ways to cancel a Chase card...
A few months ago, we wrote about the European Union’s proposals for cheaper and fairer cross border payments in the EU.
As part of their regulations, the EU pledged to create a fully transparent currency conversion market for anyone who sends or spends their money abroad.
However, these were just a draft.
Last week the European Parliament published additional amendments that made it absolutely clear – the cost of bank transfers must be more transparent. If passed, consumers and businesses will see the actual cost of a transfer when they send money from their banks account internationally.
It’s great news. And combined with better information about the cost to pay with a card abroad or take money out of a foreign ATM, we’ll see a huge difference.
But nothing is certain yet.
We’re still waiting for the three institutions – Parliament, Commission, and Council – to come to a joint decision on what these changes will look like. And industry has been lobbying hard. They don’t want to be required to be honest about the total cost of fees and the exchange rate mark up.
That’s where you come in.
The national capitals in the Council have shown some opposition. But that’s where you come in. We need people from every member state in the union to join us. Sign up below and help us make hidden fees in foreign exchange a thing of the past.
Sign up here, and learn how you can make a difference.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
Looking for Christmas savings tips? You’re in the right place. As the costs of living increase, and rising interest rates push up mortgage repayments for many...
If you’re planning a holiday or business trip, you’ll need to work out the cost of spending in a different currency. Many people these days choose to spend on...
For our UK customers sending money with Wise, holding money in the Wise account or who are customers of Wise Payments Ltd., regardless of which currency you...
A handy guide to the sort code used in UK banking, including what it is, what it looks like and how to find a sort code.
GlobalWebPay is not as expensive as traditional banks out there however, for some transfers, Wise might be able to save you more money.