Revolut aims to take on Indian banks and their ‘criminal’ forex fees with low-cost global payment services.
Matilda
Revolut Targets India’s ‘Criminal’ Forex Fees Revolut Aims To Take On Indian Banks And Their ‘Criminal’ Forex Fees British fintech Revolut aims to take on Indian banks and their ‘criminal’ forex fees , marking a bold move into one of the world’s fastest-growing financial markets. As it officially launches in India, Revolut plans to disrupt how Indians send, spend, and manage money abroad — a market long dominated by traditional banks with hefty hidden charges. Image : Google India’s Costly Forex Problem According to Revolut, Indians spend around $30 billion overseas each year and lose nearly $600 million in bank fees alone. These charges, Revolut India CEO Paroma Chatterjee says, are nothing short of “criminal.” “It has been the preserve of banks,” Chatterjee told TechCrunch . “You go to your bank for foreign exchange, travel cards, or international payments — and you end up paying humongous fees.” How Revolut Plans To Change The Game Since 2021, the London-headquartered fintech has been working toward a full India rollout. Revolut acquir…
