Prices are coming down but major banks still aren’t competitive to TransferWise
- Money transfer fees are trending downward.
- A recent study found that banks are still much more expensive than fintech options.
As part of the launch of its new debit card in the US, money transfer firm TransferWise commissioned a study of how much it would cost to move money in and out of GBP and USD. Money transfer pricing was compared at institutions like Bank of America, Citi, Chase, Wells Fargo, HSBC and PayPal.
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