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Fighting Hidden Fees and IBAN Discrimination

Posting date: 17/9/25

Magali Van Bulck, Head of Policy & Government Relations (EMEA), joined Wise driven by a strong personal connection to our mission. Find out more on what inspired her join the team ⬇️

"A big part of my job is spent ensuring that policymakers and governments understand the importance of abolishing hidden fees and bringing true transparency to financial services"

Magali Van Bulck (She/Her)

Head of Policy & Government Relations (EMEA)

a woman staring at a computer screen

What inspired you to join Wise?

I moved to London from Belgium ten years ago and I used TransferWise (as it was then called) to move my savings over - a recommendation from a friend. One day I was sitting on the tube (London transport service) and saw a Wise advert. It was someone spitting out their coffee, with the tagline “That moment when you realise your bank overcharges you to send money abroad.” The advert really stuck with me. It was my second interaction with Wise and I thought “that looks like such a great company”, so I checked out the careers site and saw an opening in the Communications team. Since then, I’ve been able to blend my experience in comms with an interest in Government Relations, eventually making the switch full-time. Fast forward to today and I’m the Head of Policy & Government Relations (EMEA) at Wise. 

Tell us about what you do as the Head of Government Relations?

My role is all about managing our relationships with governments, policymakers, regulators and international organisations. My team and I advocate for fairer finance for our customers and for regulations that also work for newer, innovative companies like Wise and not just legacy banks.

We work to change laws and regulations so our customers can enjoy a better, more transparent payment experience. A big part of my job is spent ensuring that policymakers and governments understand the importance of abolishing hidden fees and bringing true transparency to financial services - something that’s costing consumers and businesses roughly £200 billion in 2025! This mission is at the heart of why Wise was founded and it’s a huge part of our DNA. Our customers care deeply about transparency, and so do we. 

One of my team’s other priorities is breaking the monopoly that banks have traditionally held.  Banks have long acted as the gatekeepers to the payment infrastructure, while companies like Wise didn’t get that same access. Slowly but surely, we’re changing the rules one country at a time, so Wise and our customers can benefit from direct access to the payment infrastructure in the form of faster, cheaper and more convenient payments. 

Can you tell us about a project you’ve been proud of? 

I’m genuinely excited about a project I founded called “Accept my IBAN”, a campaign to address the issue of IBAN (International Bank Account Number) discrimination. For context, as part of the Wise account, we provide Belgian IBANs to our customers, but many companies refuse to accept them, despite the fact they should, according to regulations. This issue, known as IBAN discrimination, has been illegal for over 10 years, yet it persists. And it’s not just Wise customers who may face this issue - anyone who tries to pay with an IBAN that’s not “local” may fall victim to IBAN discrimination. For instance, if you try to pay a phone bill in France with a Belgian or German IBAN, you might face difficulties. 

A patchwork of dozens of complaint bodies across the EU made it difficult for consumers to know where to report IBAN discrimination, which is why I started Accept My IBAN: enabling consumers to complain, regardless of where they are based or who they bank with. Recognising the magnitude of this problem, as reported by many consumers and fintech companies that joined Accept My IBAN, we brought these complaints to the attention of policymakers. So far, we’ve received 5,000 complaints, which we regularly pass on to the European Commission and Member States to highlight the severity of the issue and spur countries into action to tackle this massive consumer protection problem. 

It’s amazing seeing Wise & Accept My IBAN’s data being used as a reliable source in policymaking and working groups tackling these problems. The campaign is still ongoing, and we have already gained support from 30 other companies and organisations that have joined our coalition, helping spread the word to their customers and amplify attention to the problem and the Accept My IBAN website. 

How does Government Relations affect our business operations?

The work the Government Relations team does can have a significant impact on our business operations. We need to become experts on various topics very quickly, depending on what's being discussed in parliament or what legislation is being proposed. It is crucial that these regulations work in the best way for Wise and our customers, removing obstacles they may face. This involves anything from safeguarding policies to fighting financial crime or ensuring that future technologies won't face unnecessary roadblocks and we can continue innovating. 

We do a lot of forward-thinking and problem-solving, and work really closely with many other teams, including product managers, engineers, bankers and so on. For instance, we try to understand where customer challenges can be addressed through legislative changes and give our customers, and other companies’ customers a better experience.

What advice would you give to someone interested in this field?

Always remain curious and ask questions– delve deep into topics until you really understand them. You'll need to quickly become the go-to person in the room and be able to explain complex, technical problems in a way that even a five-year-old could understand, which requires a thorough grasp of the details. 

Push yourself to excel. At Wise, having full ownership over projects means you must be proactive in identifying and solving problems. But it’s so rewarding when you can find a solution!


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