Change the law: tell the European Commission what you think

Help change the law!

Financial providers hide fees whenever people send money abroad. They can continue to rip people off because the rules are too vague. If you're European or based in the EU, you now have the chance to tell the European Commission that they need to put an end to this. Help us make price transparency the norm and stop providers from ripping people off by responding to the Payment Services Directive (PSD2) consultation. You can read more about that here.

👉 Respond to the European Commission’s consultation👈

You can give feedback in any European language. The deadline is 2 August. We know the process is tricky to navigate, so we broke it down for you:

  1. Click here and sign up (or login if you already have an account)
  2. In the text box, tell them why transparency in international payments is important to you. Below are some examples of what you can write:
  • Explain the problem and how you're being affected. Please personalise your reply.

For exampleI send money to abroad and got overcharged because my provider hides fees in bad exchange rates. It is essential that all Europeans know the total cost of making a foreign exchange transaction, including any upfront fees and charges in the exchange rate.

  • Say what needs to change. Please personalise your reply.

For exampleAll Europeans should know the total cost of making a foreign exchange transaction, including any upfront fees and charges in the exchange rate. We shouldn’t have to do complicated calculations to understand the total cost of sending or receiving money. Providers must be required to show the total cost of making a transaction - including any exchange rate mark up.It’s crucial that Article 45 includes a mid-market exchange rate, so exchange rate mark-ups are no longer hidden from consumers like me.

  1. Select you’re giving feedback as a EU citizen and click on your country of origin
  2. You can choose whether you would prefer to remain anonymous when your comments are published
  3. Agree to the personal data protection provisions and click submit

A bit of background on our campaign

Since Wise started over a decade ago, we've campaigned to make finance fairer and put an end to hidden fees. Wise has nothing to hide and we believe other providers shouldn't either. Nothing To Hide is how we tell the policymakers, banks and other providers to take action and make cross-border payments transparent. So you, and other like you, can know exactly how much you're being charged.

Join the fight and help change the law!

About Wise

Wise is a global technology company, building the best way to move money around the world. With the Wise account people and businesses can hold over 50 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere. However you use the platform, Wise is on a mission to make your life easier and save you money.

Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world’s fastest growing, profitable technology companies and is listed on the London Stock Exchange under the ticker, WISE.

16 million people and businesses use Wise, which processes over €10 billion in cross-border transactions every month, saving customers over €1.6 billion a year.

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