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Any idea why the UK is still allowed to charge so much for outgoing Euro payments? It's reduced a lot, but my UK bank still charges £9 + their poor exchange rate.



Probably because they can. Monzo have said they aren't going to add charges where they don't get charged themselves (such as EU payments currently).


So get another bank. This particular problem does not need regulatory intervention because there are much cheaper options available.


I phoned up my bank and asked them how they calculate their fees and the exchange rate on foreign transactions. Needless to say, they couldn't give me an answer.




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