Online firms eye slice of UK markets in money transfers, currency spreads
The businesses get a boost from the uproar over alleged currency market manipulation by major banks
Tue, Nov 18, 2014 - 5:50 AM
Currency market majors HSBC and Barclays charge less and costs on foreign currency transactions on credit cards often go below 5 per cent, but the fee at Azimo is £1, the spread less than one cent, and the overall cost less than 2 per cent.
WORKING out of a shared office near London's Euston station, Michael Kent is part of a revolution that may be driven on by this year's row over alleged currency market manipulation by major banks.
Mr Kent's online business, Azimo, and more than 30 others in the United...