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Joel Wright

Recent articles by Joel Wright - currency news, market trends, and exchange rate insights.

Guides

Banks Charge Small Customers 25 Times More for FX, Research Shows

New research from the European Central Bank shows that banks charge smaller customers up to 25 times more for FX forward transactions and that those who fail to compare providers pay 14 times more for FX than those that do.

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News

Revolut Adds Group-Saving Feature - 2019-05-25

This week saw the addition of a group-saving feature in Revolut. “Group Vaults” are an extension of popular Vault functionally that Revolut introduced last year.

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News

Consumers Throwing Away Billions on FX Fees (TransferWise Study) - 2019-05-03

As in the rest of the world, consumers in Singapore are being fleeced when it comes to foreign exchange costs, a study by TransferWise has revealed. Individuals in Singapore are being charged 15 times more on international payments than companies are, with S$2 billion lost in hidden FX fees annually.

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News

SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection - 2019-04-18

What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.

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News

Brexit This Year Now a Toss-Up, Bookmakers Say; What Next for Pound? - 2019-04-14

With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.

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News

TransferWise Announces PayNow Funding Option - 2019-03-29

TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.

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News

Revolut Introduces Auto Currency Exchange - 2019-03-08

Digital bank Revolut announced this week the introduction of a significant new feature: auto currency exchange based on targeted exchange rates.

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News

Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies - 2019-03-07

Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.

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Guides

Currency Traders Wary of Flash Crashes During Quietest Part of Day - 'Witching Hour' Woes

Flash crashes can cause massive losses to those on the wrong side of them and without central bank intervention more of these are on their way.

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News

China's Ant Financial Acquires WorldFirst - 2019-02-14

Chinese fintech giant Ant Financial has acquired British payments specialist WorldFirst for an undisclosed amount.

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