--- title: "Meaning & Key Takeaway of: Most banks tell their customers that they…" description: "\"Most banks tell their customers that they only pay a small upfront fee for international payments. But in reality, customers pay much more.\" — Taavet H..." image: "https://sms4smile.com/quotes/i/00d/taavet-hinrikus-9070_customers_most-banks-tell-their-customers-that-the_794904.jpg" --- # Most banks tell their customers that they only pay a small… ![“Most banks tell their customers that they only pay a small upfront fee for international payments. But in reality, customers pay much more.” quote by Taavet Hinrikus](https://sms4smile.com/quotes/i/00d/taavet-hinrikus-9070_customers_most-banks-tell-their-customers-that-the_794904.jpg) [Download](https://sms4smile.com/quotes/i/00d/taavet-hinrikus-9070_customers_most-banks-tell-their-customers-that-the_794904.jpg) [Open image](https://sms4smile.com/quotes/i/00d/taavet-hinrikus-9070_customers_most-banks-tell-their-customers-that-the_794904.jpg) > “Most banks tell their customers that they only pay a small upfront fee for international payments. But in reality, customers pay much more.” [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Banks often advertise low fees for international transfers, yet hidden costs make the total expense much higher. **In simple terms:** Banks hide extra fees. Key Takeaway Watch for hidden fees. Themes finance transparency consumer rights Mood cautious informed Type advisory informational When to use this quote - online banking - cross‑border payments - small business - travel - expatriates Key Concepts hidden costs pricing strategies Questions to Reflect On - How can you verify the true cost of a transfer? - What alternatives reduce hidden fees? A Different Perspective Fees may vary by currency and provider, making comparisons difficult. ★ ★ ★ ★ ★ No ratings yet [Customers](https://sms4smile.com/quotes/about/customers/) [Customers Pay](https://sms4smile.com/quotes/about/customers-pay-1098294/) [International Payments](https://sms4smile.com/quotes/about/international-payments-6097195/) [More](https://sms4smile.com/quotes/about/more/) [Only](https://sms4smile.com/quotes/about/only/) [Pay](https://sms4smile.com/quotes/about/pay/) [Pay Small](https://sms4smile.com/quotes/about/pay-small-1926132/) [Payments Reality](https://sms4smile.com/quotes/about/payments-reality-6097196/) [Reality](https://sms4smile.com/quotes/about/reality/) [Upfront Fee](https://sms4smile.com/quotes/about/upfront-fee-6097197/) ## Related quotes > [You want to understand the smallest feature set customers will pay for in the first release.](https://sms4smile.com/quotes/patrick-vlaskovits/you-want-to-understand-the-smallest-feature-set-customers-will-pay/) [Patrick Vlaskovits](https://sms4smile.com/quotes/author/patrick-vlaskovits/) > [Living your life the way you want to live it is the most important thing so if you have to pay small prices along…](https://sms4smile.com/quotes/cher/living-your-life-the-way-you-want-to-live-it-is-the-most-important/) [Cher](https://sms4smile.com/quotes/author/cher/) > [I think that most of the people running companies today are motivated and pay is a small portion of the motivation.](https://sms4smile.com/quotes/james-sinegal/i-think-that-most-of-the-people-running-companies-today-are-motivated/) [James Sinegal](https://sms4smile.com/quotes/author/james-sinegal/) > [What people do is they pay the small loans first. 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Truett Cathy](https://sms4smile.com/quotes/author/s-truett-cathy/) > [One of the Internet's highest-profile companies, Priceline once dreamed of transforming the way consumer goods are bought and sold by offering customers the chance…](https://sms4smile.com/quotes/alex-berenson/one-of-the-internet-s-highest-profile-companies-priceline-once/) [Alex Berenson](https://sms4smile.com/quotes/author/alex-berenson/) > [Corporations invest in sophisticated CRM, or Customer Relationship Management, programs to effectively oversee their relationship with their customers at every point during the buying…](https://sms4smile.com/quotes/marc-ostrofsky/corporations-invest-in-sophisticated-crm-or-customer-relationship/) [Marc Ostrofsky](https://sms4smile.com/quotes/author/marc-ostrofsky/) > [The best way to hold customers is to constantly figure out how to give them more for less.](https://sms4smile.com/quotes/philip-kotler/the-best-way-to-hold-customers-is-to-constantly-figure-out-how-to/) [Philip Kotler](https://sms4smile.com/quotes/author/philip-kotler/) ## More by Taavet Hinrikus > [When a new hire is afraid to roll up their sleeves and get things done, it's a clear sign it's not going to work…](https://sms4smile.com/quotes/taavet-hinrikus/when-a-new-hire-is-afraid-to-roll-up-their-sleeves-and-get-things/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [There are so many instances in banking where 'free' simply doesn't mean free, whether it's opaque overdraft charges or credit card providers that are…](https://sms4smile.com/quotes/taavet-hinrikus/there-are-so-many-instances-in-banking-where-free-simply-doesn-t-mean/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [Building a business is a marathon, not a sprint. 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It's a snowball effect.](https://sms4smile.com/quotes/taavet-hinrikus/historically-people-have-flocked-to-silicon-valley-because-of-the/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [Sometimes, companies are better placed than politicians and governments to make change happen. 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Truett Cathy](https://sms4smile.com/quotes/author/s-truett-cathy/) > [Research is an organized method of trying to find out what you are going to do after you cannot do what you are doing…](https://sms4smile.com/quotes/charles-kettering/research-is-an-organized-method-of-trying-to-find-out-what-you-are/) [Charles Kettering](https://sms4smile.com/quotes/author/charles-kettering/) > [Without a customer, you don't have a business - all you have is a hobby.](https://sms4smile.com/quotes/don-peppers/without-a-customer-you-don-t-have-a-business-all-you-have-is-a-hobby/) [Don Peppers](https://sms4smile.com/quotes/author/don-peppers/) > [In open source, you really have to be near the watershed to have an impact on the source code. 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When you treat them right they will treat your outside customers right.](https://sms4smile.com/quotes/herb-kelleher/you-have-to-treat-your-employees-like-your-customers-when-you-treat/) [Herb Kelleher](https://sms4smile.com/quotes/author/herb-kelleher/) [Browse all 2,036 Customers quotes ](https://sms4smile.com/quotes/about/customers/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Most banks tell their customers that they only pay a small upfront fee for international payments. 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