To ask Mr Chancellor of the Exchequer, with reference to the Answer of 18 April 2017 to Question 69488, whether the results of research into the impact of pricing structures on consumer understanding of foreign currency transaction fees will inform forthcoming payment services regulations.

In its Answer of 18 April 2017 to Question 69488, the Government stated that it was conducting research on the effects of transparency in overseas money transfers (involving foreign exchange) on consumer decisions. This research will help to inform the Government's response to the consultation on draft regulations for the implementation of the Second Payment Services Directive. This response will be published shortly.