markups

Is your bank ripping your business off with costly foreign exchange mark-ups?

by

UK businesses which make regular overseas payments are losing out on hundreds of pounds per transaction thanks to inferior foreign exchange rates charged by Britain’s biggest banks. The likes of Barclays, Lloyds and HSBC, which calls itself ‘the world’s local bank’, levy currency conversion mark-ups which effectively act as stealth charges on overseas payments and … Read more

Sending money overseas: The currency mark-ups by big banks revealed

by

Britain’s biggest banks have been accused of hiding the true cost of sending money overseas and breaching the ‘spirit’ of new laws designed to bring transparency to international payments. An investigation by This is Money and the currency conversion service Transferwise has found those wishing to send money to European countries are being hit with … Read more