Explore Foreign Exchange, Exchange Rate and more!

1st Contact seem to be a little confused about the facts. TransferWise uses the real interbank exchange rate, and money made by companies through an exchange rate markup IS considered a fee.

Contact seem to be a little confused about the facts. TransferWise uses the real interbank exchange rate, and money made by companies through an exchange rate markup IS considered a fee.

Another Ria advert promoting "free" international money transfers. The main body of the ad says transfers are free, but the small print reveals that Ria may gain revenue through currency exchanges.

Another Ria advert promoting "free" international money transfers. The main body of the ad says transfers are free, but the small print reveals that Ria may gain revenue through currency exchanges.

No commission taken and "superior" exchange rates, but HDNC do not offer the real mid-market exchange rate and will still make money through an exchange rate markup. Another example of how foreign exchange is deceptively priced and advertised.

No commission taken and "superior" exchange rates, but HDNC do not offer the real mid-market exchange rate and will still make money through an exchange rate markup. Another example of how foreign exchange is deceptively priced and advertised.

Again, Western Union advertising their 'fee-free' service. This claim breaks down when fee-free is revealed to not mean fee-free, but wrought with hidden fees.

Again, Western Union advertising their 'fee-free' service. This claim breaks down when fee-free is revealed to not mean fee-free, but wrought with hidden fees.

Western Union has very interesting fine print. It's a shame that its most honest statement about the real cost of money transfers is hidden at the bottom of its adverts.

Western Union has very interesting fine print. It's a shame that its most honest statement about the real cost of money transfers is hidden at the bottom of its adverts.

At first, HSBC states that no rate was used. Later in the statement, the exchange rate used is revealed to be markedly different from the actual mid-market rate on the day of exchange (see "hi" and "low"). By using its own exchange rate, HSBC took 2.5% of the money transferred – on top of any 'flat fees'.

At first, HSBC states that no rate was used. Later in the statement, the exchange rate used is revealed to be markedly different from the actual mid-market rate on the day of exchange (see "hi" and "low"). By using its own exchange rate, HSBC took 2.5% of the money transferred – on top of any 'flat fees'.

TorFX are offering "free money transfers" and "0% commission". Their use of 'free' seems unfair, if customers pay money on the exchange rate markup, for using their service.

TorFX are offering "free money transfers" and commission". Their use of 'free' seems unfair, if customers pay money on the exchange rate markup, for using their service.

Again, Western Union claiming that there are no hidden fees when you send money abroad. But as we have learnt, 'fees' don't seem to include Western Union's more clandestine exchange rate markup.

Again, Western Union claiming that there are no hidden fees when you send money abroad. But as we have learnt, 'fees' don't seem to include Western Union's more clandestine exchange rate markup.

The reason 'free' transfers don't exist is that UKForex are changing you money by using their own, inflated, exchange rate. When UKForex talk about the 'best exchange rates' they are referring to their own exchange rate. Not the real mid-market exchange rate. That's the best one.

The reason 'free' transfers don't exist is that UKForex are changing you money by using their own, inflated, exchange rate. When UKForex talk about the 'best exchange rates' they are referring to their own exchange rate. Not the real mid-market exchange rate. That's the best one.

Here MoneyGram are advertising a fixed transfer fee of £2.99. It's unclear if their terms and conditions explain that they make money on the gap between their exchange rate and the real mid-market rate - the writing is too small to read.

Here MoneyGram are advertising a fixed transfer fee of It's unclear if their terms and conditions explain that they make money on the gap between their exchange rate and the real mid-market rate - the writing is too small to read.

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