How UK SMEs Lose Thousands in Hidden FX Fees (And How to Avoid It)

If you're a UK business making international payments, chances are you’re overpaying, and don’t even realise it.

Banks and brokers often claim to offer "zero fees" or "best rates", but in reality, their profit usually comes from inflated exchange rates. These hidden markups — often 1 to 2 percent — are rarely disclosed and almost impossible to spot unless you know what to look for.

Let’s break it down. If your business sends £500,000 abroad in a year, and your provider adds a 1.5% markup without telling you, you’re losing £7,500 annually. That’s money coming straight off your bottom line.

So why is this still happening? Because FX providers rely on complexity. They assume SMEs won’t question the rate, won’t benchmark it, and won’t have time to understand the spread. Meanwhile, brokers position themselves as "trusted advisors", even as they profit silently from every transaction.

At Glyde, we believe businesses deserve clarity. Our FX Cost Breakdown tool is designed to show you the exact rate you’re getting, the true mid-market rate at the time, and how much margin is being taken. It’s quick, simple, and completely free to use.

You don’t need to be a finance expert. You just need visibility. Because once you can see what you’re really paying, you can do something about it.

It’s time to end hidden costs in foreign exchange. Glyde makes that possible.

🔍 Check your FX cost in seconds at https://www.glyde.money/compare-rates/