Wise calls out hidden transfer fees in cheeky carrot-themed activation

Wise is taking aim at hidden foreign exchange fees with a tongue-in-cheek experiential pop-up, the 'Chopped carrot head stall', launching this weekend at Funan Mall. The campaign was conceptualised by Sweatshop, which led the creative development and partnered with Flash Concepts for events execution and IN.FOM for PR support.

According to Wise, Singaporeans lost an estimated SG$580 million in 2024 to hidden fees and inflated exchange rates when sending money overseas, a figure projected to hit SG$1.03 billion by 2029, based on research by Edgar Dunn & Company.

In local slang, these consumers are getting 'chopped carrot head', a Singlish phrase for being ripped off. To highlight the issue, the international money app is inviting the public to learn how to spot “sneaky markups” through a series of carrot-themed games and activities running from 7 to 9 November.

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The activation includes three stations — 'Pluck-a-carrot', 'Weigh-a-carrot' and 'Chop chop carrot head' — where participants can test their reflexes, answer trivia, and learn how to save on international transfers.

Visitors who complete all stations can collect stamps to redeem exclusive Wise merchandise such as a radish bucket hat, plushie keychain, or a bottle of carrot juice, with a chance to win a SG$300 Scoot voucher.

“It’s wild that people in Singapore lost S$580 million to hidden fees last year; that’s some serious cake being eaten at our expense,” said Mehul Gopal, Wise spokesperson and self-proclaimed anti-chopped carrot head advocate.

“Most people don’t know how much they actually pay to send money overseas because of opaque pricing structures that often say low or no fees but secretly mark up the exchange rate. We think enough is enough, and it's time people stop getting chopped and keep their money where it belongs — rooted firmly in their pockets," he added. 

“‘Chopped Carrot Head’ is a classic Singaporean term for getting ripped off, and no one likes to feel that way,” said Adrian Yeap, founder and chief sweaty creative of Sweatshop. “In collaboration with Wise, we’ve tapped into that insight, blending social and experiential channels to arm people with the knowledge to avoid becoming chopped carrot heads when they send money overseas.”

The activation comes as Wise ramps up its regional presence through strategic partnerships and market investments. Most recently, the fintech teamed up with the Singapore Tourism Board (STB) to attract Malaysian travelers by offering them greater financial transparency and value when spending in Singapore. The collaboration combines STB’s destination marketing expertise with Wise’s fee-free cross-border solutions, supported by digital and social campaigns spotlighting Singapore’s latest attractions such as Minion Land and Rainforest Wild ASIA.

In Australia, Wise also appointed Havas Red as its first PR agency of record to drive earned storytelling and deepen engagement across consumer, SME, and banking audiences. The move marks a more aggressive communications push as Wise continues to scale its footprint in key APAC markets.

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