Time ripe to stop forex fees confusion

Misleading 'zero commission' advertising should be regulated, says international payments firm Wise. (Image: BusinessDesk)

Pattrick Smellie

Tue, 22 Jul 2025

Bogus “fees-free” foreign currency exchange services would become a thing of the past if Parliament decided to regulate international payments standards in the Financial Markets Conduct Amendment Bill.International payments provider Wise is urging Parliament’s finance and expenditure committee to insert clauses into the bill, currently the subject of public submissions, that would make the fees charged for foreign exchange transfers explicit.The bill does not currently include provisions relating to foreign exchange transfers...

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