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UK consumers may lose £3.1B in 2025 due to hidden fees and unclear terms in international money transfers, a Wise study finds.
A new study by financial app Wise finds Britons may lose £3.1 billion in 2025 due to hidden fees and unclear terms when sending money abroad.
Nearly a quarter of UK adults using international financial services say banks make true costs hard to understand, with 45% reporting fees are printed in very small text.
Over half feel fees are hidden or unclear, and 34% were surprised by unexpected charges.
Thirty percent believe their bank’s services are inferior to modern fintech apps.
To highlight the issue, Wise launched the “Smallest Small Print Challenge” in London, using microscopes to find hidden text in rice, symbolizing how difficult it is to spot fine print in financial agreements.
The campaign underscores growing consumer frustration over lack of transparency in international payments.
Los consumidores del Reino Unido podrían perder 3.100 millones de libras esterlinas en 2025 debido a tarifas ocultas y términos poco claros en las transferencias internacionales de dinero, según un estudio de Wise.