Revealed: the huge profits earned by big banks on overseas money transfers

[Tony]

Guardian Consumer Affairs

An internal Santander memo leaked to Guardian Money says 10% of its global profits come from international cash transfers, and it charges six times more than newer rivalsWhen senior Santander executives gathered in the principality of Andorra in January this year, the bank’s “innovation director”...

Revealed: the huge profits earned by big banks on overseas money transfers (external link to Guardian Consumer Affairs)