Best Australian Dollar / U.S. Dollar Exchange Rate Today: 0.6203
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 0.6184, and the most competitive travel money / cash rates start at approximately 0.6147.
Live rate: 1 AUD = 0.6203 USD (-0.22% )
Inverted: 1 USD = 1.6121 AUD
Click here for our full travel and holiday rates comparison tool.
Comparison Results:
| Provider | Exchange Rate | Fee | You Get | Service | Notes | Action |
Live Market Rate | 0.6203 | 0 | 0.6141 | |||
 | 0.6184 (indicative) | 0 | 0.6184 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 0.6160 (indicative) | 0 | 0.6160 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 0.6147 | 0 | 0.6147 | Holiday FX, Cash Delivery | A specialist alternative to banks, bureau de change & the Post Office for clients seeking competitive currency exchange rates. A multiple award-winning company, offering free delivery (over £700.00), no commission charges, payment by Debit Card or Bank Transfer and typically offering the best exchange rates available. | |
Best Bank Rate  | 0.6029 (upper range) | Variable | 0.6029 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 0.5986 (lower range) | Variable | 0.5986 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 0.5924 | 0 | 0.5924 | International Payments and Transfers |
Ranking Snapshot
Horizon Currency
payments
Wise
payments
Revolut
payments, cash
Global Reach
payments
Travel FX
holiday cash
Covent Garden FX
holiday cash
Moneycorp
payments
Tesco
cash
Post Office
cash
HSBC
representative of high street bank rates
About the rankings
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6812 Close: 0.6811 Mid: 0.6812 | 2 Open: 0.6811 Close: 0.6762 Mid: 0.6801 | 3 Open: 0.6763 Close: 0.6731 Mid: 0.6746 | 4 Open: 0.6731 Close: 0.6707 Mid: 0.6735 | 5 Open: 0.6708 Close: 0.6714 Mid: 0.6699 | 6 | |
7 | 8 Open: 0.6728 Close: 0.6719 Mid: 0.6706 | 9 Open: 0.6719 Close: 0.6688 Mid: 0.6703 | 10 Open: 0.6687 Close: 0.6700 Mid: 0.6698 | 11 Open: 0.6701 Close: 0.6689 Mid: 0.6685 | 12 Open: 0.6689 Close: 0.6688 Mid: 0.6700 | 13 |
14 | 15 Open: 0.6687 Close: 0.6661 Mid: 0.6677 | 16 Open: 0.6659 Close: 0.6585 Mid: 0.6619 | 17 Open: 0.6585 Close: 0.6551 Mid: 0.6559 | 18 Open: 0.6552 Close: 0.6574 Mid: 0.6550 | 19 Open: 0.6573 Close: 0.6598 Mid: 0.6581 | 20 |
21 | 22 Open: 0.6586 Close: 0.6569 Mid: 0.6591 | 23 Open: 0.6570 Close: 0.6580 Mid: 0.6577 | 24 Open: 0.6580 Close: 0.6577 Mid: 0.6593 | 25 Open: 0.6576 Close: 0.6586 Mid: 0.6584 | 26 Open: 0.6586 Close: 0.6579 Mid: 0.6592 | 27 |
28 | 29 Open: 0.6577 Close: 0.6612 Mid: 0.6586 | 30 Open: 0.6611 Close: 0.6603 Mid: 0.6598 | 31 Open: 0.6603 Close: 0.6565 Mid: 0.6592 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6568 Close: 0.6573 Mid: 0.6552 | 2 Open: 0.6572 Close: 0.6513 Mid: 0.6555 | 3 | ||||
4 | 5 Open: 0.6513 Close: 0.6483 Mid: 0.6489 | 6 Open: 0.6483 Close: 0.6523 Mid: 0.6510 | 7 Open: 0.6523 Close: 0.6520 Mid: 0.6528 | 8 Open: 0.6520 Close: 0.6493 Mid: 0.6498 | 9 Open: 0.6492 Close: 0.6524 Mid: 0.6509 | 10 |
11 | 12 Open: 0.6517 Close: 0.6531 Mid: 0.6527 | 13 Open: 0.6530 Close: 0.6454 Mid: 0.6500 | 14 Open: 0.6454 Close: 0.6491 Mid: 0.6469 | 15 Open: 0.6491 Close: 0.6525 Mid: 0.6506 | 16 Open: 0.6525 Close: 0.6533 Mid: 0.6522 | 17 |
18 | 19 Open: 0.6531 Close: 0.6542 Mid: 0.6538 | 20 Open: 0.6542 Close: 0.6549 Mid: 0.6560 | 21 Open: 0.6549 Close: 0.6551 Mid: 0.6552 | 22 Open: 0.6551 Close: 0.6558 Mid: 0.6568 | 23 Open: 0.6556 Close: 0.6564 Mid: 0.6569 | 24 |
25 | 26 Open: 0.6556 Close: 0.6540 Mid: 0.6551 | 27 Open: 0.6541 Close: 0.6544 Mid: 0.6541 | 28 Open: 0.6544 Close: 0.6495 Mid: 0.6511 | 29 Open: 0.6496 Close: 0.6498 Mid: 0.6501 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6498 Close: 0.6526 Mid: 0.6507 | 2 | |||||
3 | 4 Open: 0.6525 Close: 0.6510 Mid: 0.6522 | 5 Open: 0.6510 Close: 0.6504 Mid: 0.6505 | 6 Open: 0.6503 Close: 0.6564 Mid: 0.6537 | 7 Open: 0.6564 Close: 0.6620 Mid: 0.6601 | 8 Open: 0.6620 Close: 0.6626 Mid: 0.6638 | 9 |
10 | 11 Open: 0.6623 Close: 0.6614 Mid: 0.6610 | 12 Open: 0.6614 Close: 0.6606 Mid: 0.6611 | 13 Open: 0.6606 Close: 0.6622 Mid: 0.6614 | 14 Open: 0.6621 Close: 0.6581 Mid: 0.6604 | 15 Open: 0.6581 Close: 0.6558 Mid: 0.6566 | 16 |
17 | 18 Open: 0.6560 Close: 0.6559 Mid: 0.6564 | 19 Open: 0.6560 Close: 0.6532 Mid: 0.6530 | 20 Open: 0.6532 Close: 0.6586 Mid: 0.6547 | 21 Open: 0.6586 Close: 0.6570 Mid: 0.6580 | 22 Open: 0.6570 Close: 0.6514 Mid: 0.6539 | 23 |
24 | 25 Open: 0.6523 Close: 0.6540 Mid: 0.6534 | 26 Open: 0.6540 Close: 0.6533 Mid: 0.6545 | 27 Open: 0.6533 Close: 0.6535 Mid: 0.6527 | 28 Open: 0.6535 Close: 0.6516 Mid: 0.6511 | 29 Open: 0.6516 Close: 0.6525 Mid: 0.6520 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6520 Close: 0.6490 Mid: 0.6504 | 2 Open: 0.6490 Close: 0.6518 Mid: 0.6504 | 3 Open: 0.6518 Close: 0.6565 Mid: 0.6536 | 4 Open: 0.6565 Close: 0.6588 Mid: 0.6591 | 5 Open: 0.6588 Close: 0.6579 Mid: 0.6568 | 6 | |
7 | 8 Open: 0.6576 Close: 0.6605 Mid: 0.6589 | 9 Open: 0.6605 Close: 0.6629 Mid: 0.6623 | 10 Open: 0.6629 Close: 0.6513 Mid: 0.6568 | 11 Open: 0.6513 Close: 0.6538 Mid: 0.6524 | 12 Open: 0.6538 Close: 0.6463 Mid: 0.6495 | 13 |
14 | 15 Open: 0.6462 Close: 0.6442 Mid: 0.6472 | 16 Open: 0.6442 Close: 0.6402 Mid: 0.6417 | 17 Open: 0.6401 Close: 0.6435 Mid: 0.6424 | 18 Open: 0.6435 Close: 0.6421 Mid: 0.6440 | 19 Open: 0.6421 Close: 0.6417 Mid: 0.6411 | 20 |
21 | 22 Open: 0.6405 Close: 0.6449 Mid: 0.6423 | 23 Open: 0.6449 Close: 0.6487 Mid: 0.6467 | 24 Open: 0.6487 Close: 0.6498 Mid: 0.6499 | 25 Open: 0.6498 Close: 0.6519 Mid: 0.6509 | 26 Open: 0.6518 Close: 0.6534 Mid: 0.6526 | 27 |
28 | 29 Open: 0.6526 Close: 0.6566 Mid: 0.6562 | 30 Open: 0.6566 Close: 0.6473 Mid: 0.6520 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6473 Close: 0.6523 Mid: 0.6499 | 2 Open: 0.6524 Close: 0.6567 Mid: 0.6533 | 3 Open: 0.6567 Close: 0.6610 Mid: 0.6609 | 4 | |||
5 | 6 Open: 0.6616 Close: 0.6625 Mid: 0.6625 | 7 Open: 0.6625 Close: 0.6598 Mid: 0.6606 | 8 Open: 0.6598 Close: 0.6579 Mid: 0.6577 | 9 Open: 0.6579 Close: 0.6620 Mid: 0.6585 | 10 Open: 0.6620 Close: 0.6603 Mid: 0.6609 | 11 |
12 | 13 Open: 0.6600 Close: 0.6608 Mid: 0.6608 | 14 Open: 0.6608 Close: 0.6626 Mid: 0.6609 | 15 Open: 0.6626 Close: 0.6693 Mid: 0.6655 | 16 Open: 0.6694 Close: 0.6678 Mid: 0.6685 | 17 Open: 0.6678 Close: 0.6693 Mid: 0.6675 | 18 |
19 | 20 Open: 0.6695 Close: 0.6669 Mid: 0.6688 | 21 Open: 0.6669 Close: 0.6665 Mid: 0.6663 | 22 Open: 0.6665 Close: 0.6619 Mid: 0.6654 | 23 Open: 0.6619 Close: 0.6607 Mid: 0.6624 | 24 Open: 0.6607 Close: 0.6628 Mid: 0.6614 | 25 |
26 | 27 Open: 0.6629 Close: 0.6654 Mid: 0.6647 | 28 Open: 0.6654 Close: 0.6651 Mid: 0.6662 | 29 Open: 0.6651 Close: 0.6610 Mid: 0.6637 | 30 Open: 0.6611 Close: 0.6633 Mid: 0.6621 | 31 Open: 0.6634 Close: 0.6653 Mid: 0.6648 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 0.6644 Close: 0.6689 Mid: 0.6662 | 4 Open: 0.6686 Close: 0.6649 Mid: 0.6659 | 5 Open: 0.6649 Close: 0.6647 Mid: 0.6648 | 6 Open: 0.6648 Close: 0.6667 Mid: 0.6657 | 7 Open: 0.6667 Close: 0.6581 Mid: 0.6633 | 8 |
9 | 10 Open: 0.6588 Close: 0.6610 Mid: 0.6587 | 11 Open: 0.6610 Close: 0.6606 Mid: 0.6601 | 12 Open: 0.6606 Close: 0.6663 Mid: 0.6653 | 13 Open: 0.6663 Close: 0.6636 Mid: 0.6647 | 14 Open: 0.6637 Close: 0.6616 Mid: 0.6616 | 15 |
16 | 17 Open: 0.6621 Close: 0.6613 Mid: 0.6608 | 18 Open: 0.6613 Close: 0.6657 Mid: 0.6628 | 19 Open: 0.6657 Close: 0.6672 Mid: 0.6669 | 20 Open: 0.6672 Close: 0.6656 Mid: 0.6665 | 21 Open: 0.6656 Close: 0.6641 Mid: 0.6656 | 22 |
23 | 24 Open: 0.6639 Close: 0.6658 Mid: 0.6650 | 25 Open: 0.6658 Close: 0.6646 Mid: 0.6655 | 26 Open: 0.6646 Close: 0.6648 Mid: 0.6650 | 27 Open: 0.6647 Close: 0.6647 Mid: 0.6657 | 28 Open: 0.6647 Close: 0.6670 Mid: 0.6656 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6678 Close: 0.6660 Mid: 0.6676 | 2 Open: 0.6660 Close: 0.6667 Mid: 0.6653 | 3 Open: 0.6667 Close: 0.6705 Mid: 0.6694 | 4 Open: 0.6704 Close: 0.6727 Mid: 0.6719 | 5 Open: 0.6727 Close: 0.6749 Mid: 0.6733 | 6 | |
7 | 8 Open: 0.6739 Close: 0.6737 Mid: 0.6747 | 9 Open: 0.6737 Close: 0.6741 Mid: 0.6739 | 10 Open: 0.6741 Close: 0.6748 Mid: 0.6744 | 11 Open: 0.6748 Close: 0.6760 Mid: 0.6765 | 12 Open: 0.6760 Close: 0.6766 Mid: 0.6767 | 13 |
14 | 15 Open: 0.6773 Close: 0.6760 Mid: 0.6773 | 16 Open: 0.6760 Close: 0.6734 Mid: 0.6740 | 17 Open: 0.6734 Close: 0.6729 Mid: 0.6739 | 18 Open: 0.6729 Close: 0.6705 Mid: 0.6721 | 19 Open: 0.6705 Close: 0.6684 Mid: 0.6694 | 20 |
21 | 22 Open: 0.6689 Close: 0.6642 Mid: 0.6666 | 23 Open: 0.6642 Close: 0.6615 Mid: 0.6625 | 24 Open: 0.6615 Close: 0.6581 Mid: 0.6599 | 25 Open: 0.6581 Close: 0.6537 Mid: 0.6544 | 26 Open: 0.6536 Close: 0.6548 Mid: 0.6554 | 27 |
28 | 29 Open: 0.6551 Close: 0.6548 Mid: 0.6548 | 30 Open: 0.6548 Close: 0.6538 Mid: 0.6544 | 31 Open: 0.6538 Close: 0.6541 Mid: 0.6515 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6541 Close: 0.6498 Mid: 0.6523 | 2 Open: 0.6498 Close: 0.6511 Mid: 0.6521 | 3 | ||||
4 | 5 Open: 0.6522 Close: 0.6499 Mid: 0.6437 | 6 Open: 0.6500 Close: 0.6511 Mid: 0.6517 | 7 Open: 0.6512 Close: 0.6520 Mid: 0.6547 | 8 Open: 0.6520 Close: 0.6594 Mid: 0.6549 | 9 Open: 0.6594 Close: 0.6572 Mid: 0.6581 | 10 |
11 | 12 Open: 0.6572 Close: 0.6592 Mid: 0.6589 | 13 Open: 0.6589 Close: 0.6634 Mid: 0.6609 | 14 Open: 0.6634 Close: 0.6610 Mid: 0.6625 | 15 Open: 0.6618 Close: 0.6610 Mid: 0.6629 | 16 Open: 0.6610 Close: 0.6670 Mid: 0.6635 | 17 |
18 | 19 Open: 0.6666 Close: 0.6730 Mid: 0.6696 | 20 Open: 0.6729 Close: 0.6747 Mid: 0.6739 | 21 Open: 0.6747 Close: 0.6746 Mid: 0.6747 | 22 Open: 0.6746 Close: 0.6705 Mid: 0.6733 | 23 Open: 0.6705 Close: 0.6797 Mid: 0.6754 | 24 |
25 | 26 Open: 0.6789 Close: 0.6772 Mid: 0.6782 | 27 Open: 0.6772 Close: 0.6794 Mid: 0.6786 | 28 Open: 0.6794 Close: 0.6784 Mid: 0.6782 | 29 Open: 0.6784 Close: 0.6800 Mid: 0.6801 | 30 Open: 0.6800 Close: 0.6764 Mid: 0.6787 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.6773 Close: 0.6793 Mid: 0.6778 | 3 Open: 0.6793 Close: 0.6714 Mid: 0.6750 | 4 Open: 0.6714 Close: 0.6726 Mid: 0.6722 | 5 Open: 0.6726 Close: 0.6741 Mid: 0.6734 | 6 Open: 0.6741 Close: 0.6668 Mid: 0.6707 | 7 |
8 | 9 Open: 0.6668 Close: 0.6660 Mid: 0.6666 | 10 Open: 0.6660 Close: 0.6653 Mid: 0.6661 | 11 Open: 0.6653 Close: 0.6674 Mid: 0.6655 | 12 Open: 0.6674 Close: 0.6722 Mid: 0.6696 | 13 Open: 0.6722 Close: 0.6701 Mid: 0.6716 | 14 |
15 | 16 Open: 0.6708 Close: 0.6752 Mid: 0.6729 | 17 Open: 0.6752 Close: 0.6755 Mid: 0.6754 | 18 Open: 0.6755 Close: 0.6765 Mid: 0.6785 | 19 Open: 0.6765 Close: 0.6814 Mid: 0.6797 | 20 Open: 0.6814 Close: 0.6809 Mid: 0.6815 | 21 |
22 | 23 Open: 0.6810 Close: 0.6838 Mid: 0.6811 | 24 Open: 0.6838 Close: 0.6893 Mid: 0.6854 | 25 Open: 0.6892 Close: 0.6823 Mid: 0.6864 | 26 Open: 0.6823 Close: 0.6896 Mid: 0.6869 | 27 Open: 0.6896 Close: 0.6901 Mid: 0.6902 | 28 |
29 | 30 Open: 0.6905 Close: 0.6913 Mid: 0.6922 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6913 Close: 0.6883 Mid: 0.6896 | 2 Open: 0.6883 Close: 0.6885 Mid: 0.6893 | 3 Open: 0.6885 Close: 0.6840 Mid: 0.6860 | 4 Open: 0.6840 Close: 0.6813 Mid: 0.6821 | 5 | ||
6 | 7 Open: 0.6787 Close: 0.6757 Mid: 0.6782 | 8 Open: 0.6757 Close: 0.6746 Mid: 0.6743 | 9 Open: 0.6745 Close: 0.6721 Mid: 0.6732 | 10 Open: 0.6721 Close: 0.6740 Mid: 0.6723 | 11 Open: 0.6739 Close: 0.6750 Mid: 0.6741 | 12 |
13 | 14 Open: 0.6743 Close: 0.6726 Mid: 0.6728 | 15 Open: 0.6726 Close: 0.6703 Mid: 0.6716 | 16 Open: 0.6703 Close: 0.6667 Mid: 0.6682 | 17 Open: 0.6666 Close: 0.6696 Mid: 0.6687 | 18 Open: 0.6696 Close: 0.6706 Mid: 0.6710 | 19 |
20 | 21 Open: 0.6704 Close: 0.6658 Mid: 0.6689 | 22 Open: 0.6658 Close: 0.6682 Mid: 0.6677 | 23 Open: 0.6682 Close: 0.6633 Mid: 0.6652 | 24 Open: 0.6633 Close: 0.6640 Mid: 0.6640 | 25 Open: 0.6640 Close: 0.6604 Mid: 0.6627 | 26 |
27 | 28 Open: 0.6622 Close: 0.6583 Mid: 0.6600 | 29 Open: 0.6583 Close: 0.6561 Mid: 0.6570 | 30 Open: 0.6561 Close: 0.6572 Mid: 0.6567 | 31 Open: 0.6572 Close: 0.6582 Mid: 0.6565 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.6582 Close: 0.6560 Mid: 0.6578 | 2 | |||||
3 | 4 Open: 0.6607 Close: 0.6585 Mid: 0.6599 | 5 Open: 0.6585 Close: 0.6638 Mid: 0.6619 | 6 Open: 0.6638 Close: 0.6571 Mid: 0.6579 | 7 Open: 0.6570 Close: 0.6680 Mid: 0.6627 | 8 Open: 0.6680 Close: 0.6584 Mid: 0.6619 | 9 |
10 | 11 Open: 0.6579 Close: 0.6575 Mid: 0.6580 | 12 Open: 0.6574 Close: 0.6533 Mid: 0.6546 | 13 Open: 0.6533 Close: 0.6485 Mid: 0.6511 | 14 Open: 0.6485 Close: 0.6454 Mid: 0.6467 | 15 Open: 0.6454 Close: 0.6460 Mid: 0.6460 | 16 |
17 | 18 Open: 0.6458 Close: 0.6508 Mid: 0.6480 | 19 Open: 0.6508 Close: 0.6532 Mid: 0.6503 | 20 Open: 0.6532 Close: 0.6505 Mid: 0.6515 | 21 Open: 0.6505 Close: 0.6511 Mid: 0.6508 | 22 Open: 0.6511 Close: 0.6516 Mid: 0.6496 | 23 |
24 | 25 Open: 0.6533 Close: 0.6504 Mid: 0.6521 | 26 Open: 0.6504 Close: 0.6475 Mid: 0.6481 | 27 Open: 0.6475 Close: 0.6497 Mid: 0.6488 | 28 Open: 0.6496 Close: 0.6498 Mid: 0.6497 | 29 Open: 0.6498 Close: 0.6508 Mid: 0.6507 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.6520 Close: 0.6476 Mid: 0.6481 | 3 Open: 0.6475 Close: 0.6486 Mid: 0.6482 | 4 Open: 0.6485 Close: 0.6431 Mid: 0.6446 | 5 Open: 0.6431 Close: 0.6453 Mid: 0.6436 | 6 Open: 0.6453 Close: 0.6390 Mid: 0.6425 | 7 |
8 | 9 Open: 0.6390 Close: 0.6440 Mid: 0.6426 | 10 Open: 0.6439 Close: 0.6378 Mid: 0.6405 | 11 Open: 0.6378 Close: 0.6370 Mid: 0.6357 | 12 Open: 0.6370 Close: 0.6369 Mid: 0.6380 | 13 Open: 0.6369 Close: 0.6361 Mid: 0.6362 | 14 |
15 | 16 Open: 0.6366 Close: 0.6370 Mid: 0.6368 | 17 Open: 0.6370 Close: 0.6337 Mid: 0.6354 | 18 Open: 0.6337 Close: 0.6217 Mid: 0.6276 | 19 Open: 0.6217 Close: 0.6238 Mid: 0.6242 | 20 Open: 0.6238 Close: 0.6258 Mid: 0.6250 | 21 |
22 | 23 Open: 0.6256 Close: 0.6249 Mid: 0.6247 | 24 Open: 0.6249 Close: 0.6237 Mid: 0.6240 | 25 Open: 0.6249 Close: 0.6237 Mid: 0.6240 | 26 Open: 0.6238 Close: 0.6220 Mid: 0.6231 | 27 Open: 0.6220 Close: 0.6216 Mid: 0.6217 | 28 |
29 | 30 Open: 0.6218 Close: 0.6230 Mid: 0.6223 | 31 |
Compare Exchange Rates:
Know What the Best Exchange Rate Looks Like
Benchmark the exchange rate market with Pound Sterling Live's custom currency rate comparison tool with built-in algorithms to find the best rates in the market.
Banks and financial institutions buy and sell currency from each other - these sizeable institutions are 'the market' and the rate they transact at is the 'market rate'. The difference between how much a currency is purchased and sold is the spread, which is essentially the difference between the buy and sell price.
But, when currency is sold by banks to retail customers that spread widens significantly and the profit on the transaction is therefore substantially larger.
Therefore when we focus on the transfer fee when sending money abroad we often miss the biggest cost: the exchange rate spread.
Foreign exchange providers have essentially recognised this and they enter the market to transfer money at tighter spreads, thereby saving potentially significant amounts of money for their clients simply by providing better exchange rates.
For example, the transfer of £100K into euros is expected to attract a rate that delivers between €112,480 and €113,296 with the UK's leading high street banks. But FCA authorised providers will provide a rate that delivers between €115,510 and €115,740 (using rates on 05/07/21).
Taking the time to work with a FCA regulated currency provider could therefore result in the delivery of an extra euros amount of between €2444 and €3030.
Pound Sterling Live only works with foreign exchange payment companies that are FCA Authorised. This is important: FCA regulations and oversight requires the money they transfer on your behalf to be protected through a process known as 'safeguarding'. Safeguarding requires the payments company to keep your money separate from their own money in a top-tier bank. Therefore if the provider comes under stress your money should be protected.
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