Protesters take to the streets in protest against hidden bank charges
International money transfer business TransferWise warns about the dangers of hidden FX fees. In Barcelona, residents woke up this morning to a city-wide alert of “Toxic Fees”. Protesters in biohazard suits clutching beachballs marched down Las Ramblas to the beach to eliminate the threat posed by toxic banking fees. The protest calls on banks and brokers to stop misleading consumers with unfair exchange rates and hidden FX fees. British banks charge up to 5% when you send money to Spain. Banks and brokers in Spain even charge up to 5.5%  for international money transfers to the UK.
It is led by Transferwise an international money transfer company, which is backed by Virgin’s Sir Richard Branson. If you’re transferring money from UK to Spain, using TransferWise makes it 10 times cheaper.
If you’re transferring from Spain to the UK, then using TransferWise makes it 11 times cheaper. A British expat or holiday homeowner in Spain could save up to €49 when sending €1000 back home.
TransferWise customers transfer over €700 million across the globe every month using the platform, saving more than €31.5 million.