Best British Pound / Bahraini Dinar Exchange Rate Today: 0.4736
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 0.4722, and the most competitive travel money / cash rates start at approximately 0.4647.
Live rate: 1 GBP = 0.4736 BHD (+0% )
Inverted: 1 BHD = 2.1115 GBP
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 | 0.4736 | 0 | 0.4689 | |||
 | 0.4722 (indicative) | 0 | 0.4722 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 0.4703 (indicative) | 0 | 0.4703 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 0.4736 | 0.93% | 0.4692 | Best Multi-Currency Card | One currency card for all your travels. Use it instantly as a digital card and top-up from the app, with the mid-market rate. 40+ currencies. Save up to 87% when you spend internationally. | |
 | 0.4647 | 0 | 0.4647 | 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. | |
 | 0.4636 | 0 | 0.4636 | Best Branch Collection | Also offer delivery and cash buyback services. Home delivery orders of £5 and above are accepted, for branch collection the minimum is £500. One of the highest rated companies we survey according to independent rating review providers. | |
 | 0.4087 | 0 | 0.4087 | Holiday FX, Cash Delivery | Covent Garden FX is a family-owned and operated Bureau De Change located in the heart of Central London. Established for over 20 years, we offer extremely competitive exchange rates with no commission and no fees. | |
Best Bank Rate  | 0.4603 (upper range) | Variable | 0.4603 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 0.4570 (lower range) | Variable | 0.4570 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 0.4523 | 0 | 0.4523 | International Payments and Transfers |
GBP/BHD Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.4803 Close: 0.4763 Mid: 0.4783 | 3 Open: 0.4762 Close: 0.4763 Mid: 0.4762 | 4 Open: 0.4764 Close: 0.4783 Mid: 0.4775 | 5 Open: 0.4783 Close: 0.4788 Mid: 0.4780 | 6 | |
7 | 8 Open: 0.4781 Close: 0.4797 Mid: 0.4789 | 9 Open: 0.4798 Close: 0.4792 Mid: 0.4798 | 10 Open: 0.4792 Close: 0.4797 Mid: 0.4793 | 11 Open: 0.4797 Close: 0.4803 Mid: 0.4805 | 12 Open: 0.4803 Close: 0.4803 Mid: 0.4805 | 13 |
14 | 15 Open: 0.4803 Close: 0.4798 Mid: 0.4801 | 16 Open: 0.4798 Close: 0.4765 Mid: 0.4782 | 17 Open: 0.4765 Close: 0.4779 Mid: 0.4773 | 18 Open: 0.4779 Close: 0.4781 Mid: 0.4780 | 19 Open: 0.4781 Close: 0.4782 Mid: 0.4783 | 20 |
21 | 22 Open: 0.4782 Close: 0.4794 Mid: 0.4789 | 23 Open: 0.4794 Close: 0.4783 Mid: 0.4790 | 24 Open: 0.4783 Close: 0.4800 Mid: 0.4792 | 25 Open: 0.4799 Close: 0.4792 Mid: 0.4796 | 26 Open: 0.4792 Close: 0.4796 Mid: 0.4796 | 27 |
28 | 29 Open: 0.4796 Close: 0.4785 Mid: 0.4790 | 30 Open: 0.4785 Close: 0.4779 Mid: 0.4783 | 31 Open: 0.4780 Close: 0.4787 Mid: 0.4784 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4786 Close: 0.4782 Mid: 0.4779 | 2 Open: 0.4784 Close: 0.4781 Mid: 0.4794 | 3 | ||||
4 | 5 Open: 0.4782 Close: 0.4729 Mid: 0.4756 | 6 Open: 0.4729 Close: 0.4740 Mid: 0.4734 | 7 Open: 0.4741 Close: 0.4759 Mid: 0.4750 | 8 Open: 0.4759 Close: 0.4752 Mid: 0.4755 | 9 Open: 0.4753 Close: 0.4758 Mid: 0.4755 | 10 |
11 | 12 Open: 0.4758 Close: 0.4757 Mid: 0.4757 | 13 Open: 0.4758 Close: 0.4755 Mid: 0.4765 | 14 Open: 0.4755 Close: 0.4734 Mid: 0.4743 | 15 Open: 0.4734 Close: 0.4737 Mid: 0.4735 | 16 Open: 0.4738 Close: 0.4747 Mid: 0.4743 | 17 |
18 | 19 Open: 0.4748 Close: 0.4752 Mid: 0.4751 | 20 Open: 0.4752 Close: 0.4756 Mid: 0.4751 | 21 Open: 0.4756 Close: 0.4756 Mid: 0.4756 | 22 Open: 0.4757 Close: 0.4771 Mid: 0.4766 | 23 Open: 0.4771 Close: 0.4777 Mid: 0.4775 | 24 |
25 | 26 Open: 0.4777 Close: 0.4780 Mid: 0.4779 | 27 Open: 0.4779 Close: 0.4781 Mid: 0.4781 | 28 Open: 0.4782 Close: 0.4770 Mid: 0.4775 | 29 Open: 0.4770 Close: 0.4764 Mid: 0.4768 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4764 Close: 0.4766 Mid: 0.4764 | 2 | |||||
3 | 4 Open: 0.4767 Close: 0.4780 Mid: 0.4773 | 5 Open: 0.4780 Close: 0.4784 Mid: 0.4781 | 6 Open: 0.4785 Close: 0.4799 Mid: 0.4792 | 7 Open: 0.4799 Close: 0.4813 Mid: 0.4805 | 8 Open: 0.4814 Close: 0.4845 Mid: 0.4830 | 9 |
10 | 11 Open: 0.4844 Close: 0.4834 Mid: 0.4839 | 12 Open: 0.4833 Close: 0.4820 Mid: 0.4827 | 13 Open: 0.4820 Close: 0.4824 Mid: 0.4822 | 14 Open: 0.4824 Close: 0.4815 Mid: 0.4821 | 15 Open: 0.4814 Close: 0.4803 Mid: 0.4809 | 16 |
17 | 18 Open: 0.4803 Close: 0.4798 Mid: 0.4801 | 19 Open: 0.4798 Close: 0.4790 Mid: 0.4791 | 20 Open: 0.4794 Close: 0.4791 Mid: 0.4789 | 21 Open: 0.4793 Close: 0.4787 Mid: 0.4800 | 22 Open: 0.4785 Close: 0.4747 Mid: 0.4764 | 23 |
24 | 25 Open: 0.4747 Close: 0.4762 Mid: 0.4754 | 26 Open: 0.4762 Close: 0.4763 Mid: 0.4767 | 27 Open: 0.4763 Close: 0.4757 Mid: 0.4758 | 28 Open: 0.4757 Close: 0.4759 Mid: 0.4757 | 29 Open: 0.4759 Close: 0.4758 Mid: 0.4759 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4758 Close: 0.4751 Mid: 0.4755 | 2 Open: 0.4756 Close: 0.4737 Mid: 0.4746 | 3 Open: 0.4738 Close: 0.4750 Mid: 0.4744 | 4 Open: 0.4752 Close: 0.4773 Mid: 0.4763 | 5 Open: 0.4772 Close: 0.4762 Mid: 0.4766 | 6 | |
7 | 8 Open: 0.4758 Close: 0.4766 Mid: 0.4762 | 9 Open: 0.4766 Close: 0.4778 Mid: 0.4773 | 10 Open: 0.4778 Close: 0.4741 Mid: 0.4760 | 11 Open: 0.4740 Close: 0.4729 Mid: 0.4733 | 12 Open: 0.4729 Close: 0.4696 Mid: 0.4714 | 13 |
14 | 15 Open: 0.4696 Close: 0.4699 Mid: 0.4702 | 16 Open: 0.4698 Close: 0.4689 Mid: 0.4694 | 17 Open: 0.4689 Close: 0.4694 Mid: 0.4691 | 18 Open: 0.4694 Close: 0.4696 Mid: 0.4698 | 19 Open: 0.4696 Close: 0.4684 Mid: 0.4690 | 20 |
21 | 22 Open: 0.4682 Close: 0.4648 Mid: 0.4662 | 23 Open: 0.4649 Close: 0.4675 Mid: 0.4662 | 24 Open: 0.4677 Close: 0.4691 Mid: 0.4684 | 25 Open: 0.4691 Close: 0.4713 Mid: 0.4703 | 26 Open: 0.4713 Close: 0.4713 Mid: 0.4716 | 27 |
28 | 29 Open: 0.4714 Close: 0.4729 Mid: 0.4722 | 30 Open: 0.4729 Close: 0.4719 Mid: 0.4725 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4718 Close: 0.4705 Mid: 0.4711 | 2 Open: 0.4705 Close: 0.4719 Mid: 0.4712 | 3 Open: 0.4719 Close: 0.4733 Mid: 0.4728 | 4 | |||
5 | 6 Open: 0.4733 Close: 0.4739 Mid: 0.4737 | 7 Open: 0.4739 Close: 0.4725 Mid: 0.4732 | 8 Open: 0.4725 Close: 0.4707 Mid: 0.4715 | 9 Open: 0.4707 Close: 0.4706 Mid: 0.4703 | 10 Open: 0.4707 Close: 0.4722 Mid: 0.4715 | 11 |
12 | 13 Open: 0.4723 Close: 0.4730 Mid: 0.4726 | 14 Open: 0.4730 Close: 0.4738 Mid: 0.4734 | 15 Open: 0.4739 Close: 0.4767 Mid: 0.4753 | 16 Open: 0.4768 Close: 0.4775 Mid: 0.4773 | 17 Open: 0.4775 Close: 0.4778 Mid: 0.4773 | 18 |
19 | 20 Open: 0.4779 Close: 0.4788 Mid: 0.4783 | 21 Open: 0.4788 Close: 0.4792 Mid: 0.4790 | 22 Open: 0.4792 Close: 0.4795 Mid: 0.4794 | 23 Open: 0.4795 Close: 0.4795 Mid: 0.4798 | 24 Open: 0.4794 Close: 0.4797 Mid: 0.4792 | 25 |
26 | 27 Open: 0.4797 Close: 0.4810 Mid: 0.4803 | 28 Open: 0.4810 Close: 0.4817 Mid: 0.4815 | 29 Open: 0.4816 Close: 0.4794 Mid: 0.4805 | 30 Open: 0.4794 Close: 0.4796 Mid: 0.4792 | 31 Open: 0.4796 Close: 0.4799 Mid: 0.4797 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 0.4800 Close: 0.4805 Mid: 0.4800 | 4 Open: 0.4807 Close: 0.4814 Mid: 0.4814 | 5 Open: 0.4814 Close: 0.4816 Mid: 0.4814 | 6 Open: 0.4816 Close: 0.4819 Mid: 0.4818 | 7 Open: 0.4819 Close: 0.4804 Mid: 0.4814 | 8 |
9 | 10 Open: 0.4803 Close: 0.4794 Mid: 0.4795 | 11 Open: 0.4794 Close: 0.4802 Mid: 0.4799 | 12 Open: 0.4801 Close: 0.4826 Mid: 0.4813 | 13 Open: 0.4826 Close: 0.4813 Mid: 0.4819 | 14 Open: 0.4813 Close: 0.4783 Mid: 0.4798 | 15 |
16 | 17 Open: 0.4782 Close: 0.4779 Mid: 0.4779 | 18 Open: 0.4779 Close: 0.4785 Mid: 0.4782 | 19 Open: 0.4785 Close: 0.4796 Mid: 0.4792 | 20 Open: 0.4796 Close: 0.4779 Mid: 0.4788 | 21 Open: 0.4779 Close: 0.4764 Mid: 0.4770 | 22 |
23 | 24 Open: 0.4764 Close: 0.4777 Mid: 0.4771 | 25 Open: 0.4778 Close: 0.4781 Mid: 0.4780 | 26 Open: 0.4781 Close: 0.4764 Mid: 0.4773 | 27 Open: 0.4764 Close: 0.4767 Mid: 0.4765 | 28 Open: 0.4767 Close: 0.4766 Mid: 0.4767 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4755 Close: 0.4771 Mid: 0.4765 | 2 Open: 0.4771 Close: 0.4775 Mid: 0.4770 | 3 Open: 0.4776 Close: 0.4797 Mid: 0.4786 | 4 Open: 0.4797 Close: 0.4809 Mid: 0.4803 | 5 Open: 0.4809 Close: 0.4826 Mid: 0.4817 | 6 | |
7 | 8 Open: 0.4826 Close: 0.4834 Mid: 0.4830 | 9 Open: 0.4830 Close: 0.4825 Mid: 0.4827 | 10 Open: 0.4824 Close: 0.4833 Mid: 0.4827 | 11 Open: 0.4833 Close: 0.4861 Mid: 0.4847 | 12 Open: 0.4861 Close: 0.4891 Mid: 0.4876 | 13 |
14 | 15 Open: 0.4891 Close: 0.4891 Mid: 0.4892 | 16 Open: 0.4891 Close: 0.4885 Mid: 0.4887 | 17 Open: 0.4886 Close: 0.4906 Mid: 0.4899 | 18 Open: 0.4906 Close: 0.4888 Mid: 0.4897 | 19 Open: 0.4888 Close: 0.4868 Mid: 0.4878 | 20 |
21 | 22 Open: 0.4869 Close: 0.4871 Mid: 0.4872 | 23 Open: 0.4872 Close: 0.4866 Mid: 0.4869 | 24 Open: 0.4866 Close: 0.4866 Mid: 0.4865 | 25 Open: 0.4866 Close: 0.4852 Mid: 0.4859 | 26 Open: 0.4852 Close: 0.4849 Mid: 0.4850 | 27 |
28 | 29 Open: 0.4849 Close: 0.4844 Mid: 0.4845 | 30 Open: 0.4844 Close: 0.4839 Mid: 0.4842 | 31 Open: 0.4839 Close: 0.4841 Mid: 0.4840 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4841 Close: 0.4811 Mid: 0.4828 | 2 Open: 0.4810 Close: 0.4809 Mid: 0.4805 | 3 | ||||
4 | 5 Open: 0.4807 Close: 0.4811 Mid: 0.4811 | 6 Open: 0.4811 Close: 0.4786 Mid: 0.4801 | 7 Open: 0.4786 Close: 0.4796 Mid: 0.4791 | 8 Open: 0.4795 Close: 0.4792 Mid: 0.4789 | 9 Open: 0.4793 Close: 0.4808 Mid: 0.4800 | 10 |
11 | 12 Open: 0.4806 Close: 0.4811 Mid: 0.4809 | 13 Open: 0.4811 Close: 0.4827 Mid: 0.4819 | 14 Open: 0.4828 Close: 0.4840 Mid: 0.4835 | 15 Open: 0.4840 Close: 0.4845 Mid: 0.4842 | 16 Open: 0.4846 Close: 0.4870 Mid: 0.4858 | 17 |
18 | 19 Open: 0.4871 Close: 0.4890 Mid: 0.4880 | 20 Open: 0.4890 Close: 0.4907 Mid: 0.4898 | 21 Open: 0.4907 Close: 0.4921 Mid: 0.4914 | 22 Open: 0.4922 Close: 0.4936 Mid: 0.4932 | 23 Open: 0.4936 Close: 0.4962 Mid: 0.4949 | 24 |
25 | 26 Open: 0.4963 Close: 0.4971 Mid: 0.4967 | 27 Open: 0.4971 Close: 0.4986 Mid: 0.4978 | 28 Open: 0.4987 Close: 0.4975 Mid: 0.4983 | 29 Open: 0.4975 Close: 0.4966 Mid: 0.4971 | 30 Open: 0.4966 Close: 0.4957 Mid: 0.4962 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.4957 Close: 0.4951 Mid: 0.4952 | 3 Open: 0.4951 Close: 0.4941 Mid: 0.4946 | 4 Open: 0.4941 Close: 0.4952 Mid: 0.4946 | 5 Open: 0.4952 Close: 0.4963 Mid: 0.4958 | 6 Open: 0.4964 Close: 0.4958 Mid: 0.4963 | 7 |
8 | 9 Open: 0.4957 Close: 0.4932 Mid: 0.4945 | 10 Open: 0.4932 Close: 0.4930 Mid: 0.4934 | 11 Open: 0.4930 Close: 0.4922 Mid: 0.4927 | 12 Open: 0.4922 Close: 0.4925 Mid: 0.4921 | 13 Open: 0.4927 Close: 0.4948 Mid: 0.4938 | 14 |
15 | 16 Open: 0.4954 Close: 0.4971 Mid: 0.4962 | 17 Open: 0.4972 Close: 0.4971 Mid: 0.4976 | 18 Open: 0.4970 Close: 0.4986 Mid: 0.4975 | 19 Open: 0.4985 Close: 0.5008 Mid: 0.4994 | 20 Open: 0.5008 Close: 0.5009 Mid: 0.5008 | 21 |
22 | 23 Open: 0.5009 Close: 0.5024 Mid: 0.5017 | 24 Open: 0.5024 Close: 0.5042 Mid: 0.5033 | 25 Open: 0.5043 Close: 0.5033 Mid: 0.5041 | 26 Open: 0.5032 Close: 0.5045 Mid: 0.5037 | 27 Open: 0.5046 Close: 0.5046 Mid: 0.5047 | 28 |
29 | 30 Open: 0.5046 Close: 0.5050 Mid: 0.5050 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.5049 Close: 0.5016 Mid: 0.5033 | 2 Open: 0.5016 Close: 0.5004 Mid: 0.5010 | 3 Open: 0.5004 Close: 0.4945 Mid: 0.4974 | 4 Open: 0.4945 Close: 0.4953 Mid: 0.4955 | 5 | ||
6 | 7 Open: 0.4953 Close: 0.4930 Mid: 0.4940 | 8 Open: 0.4930 Close: 0.4936 Mid: 0.4933 | 9 Open: 0.4936 Close: 0.4928 Mid: 0.4932 | 10 Open: 0.4928 Close: 0.4923 Mid: 0.4927 | 11 Open: 0.4923 Close: 0.4926 Mid: 0.4924 | 12 |
13 | 14 Open: 0.4926 Close: 0.4920 Mid: 0.4923 | 15 Open: 0.4920 Close: 0.4929 Mid: 0.4926 | 16 Open: 0.4926 Close: 0.4902 Mid: 0.4914 | 17 Open: 0.4902 Close: 0.4903 Mid: 0.4900 | 18 Open: 0.4903 Close: 0.4917 Mid: 0.4910 | 19 |
20 | 21 Open: 0.4917 Close: 0.4904 Mid: 0.4910 | 22 Open: 0.4894 Close: 0.4892 Mid: 0.4894 | 23 Open: 0.4892 Close: 0.4882 Mid: 0.4888 | 24 Open: 0.4881 Close: 0.4890 Mid: 0.4885 | 25 Open: 0.4890 Close: 0.4893 Mid: 0.4892 | 26 |
27 | 28 Open: 0.4892 Close: 0.4893 Mid: 0.4892 | 29 Open: 0.4892 Close: 0.4897 Mid: 0.4893 | 30 Open: 0.4897 Close: 0.4891 Mid: 0.4895 | 31 Open: 0.4890 Close: 0.4875 Mid: 0.4886 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4875 Close: 0.4874 Mid: 0.4870 | 2 | |||||
3 | 4 Open: 0.4875 Close: 0.4884 Mid: 0.4881 | 5 Open: 0.4884 Close: 0.4902 Mid: 0.4893 | 6 Open: 0.4903 Close: 0.4854 Mid: 0.4876 | 7 Open: 0.4854 Close: 0.4887 Mid: 0.4870 | 8 Open: 0.4888 Close: 0.4873 Mid: 0.4881 | 9 |
10 | 11 Open: 0.4873 Close: 0.4851 Mid: 0.4862 | 12 Open: 0.4851 Close: 0.4817 Mid: 0.4834 | 13 Open: 0.4816 Close: 0.4794 Mid: 0.4805 | 14 Open: 0.4793 Close: 0.4774 Mid: 0.4782 | 15 Open: 0.4775 Close: 0.4764 Mid: 0.4773 | 16 |
17 | 18 Open: 0.4764 Close: 0.4768 Mid: 0.4762 | 19 Open: 0.4769 Close: 0.4772 Mid: 0.4769 | 20 Open: 0.4772 Close: 0.4770 Mid: 0.4775 | 21 Open: 0.4770 Close: 0.4756 Mid: 0.4763 | 22 Open: 0.4755 Close: 0.4719 Mid: 0.4735 | 23 |
24 | 25 Open: 0.4721 Close: 0.4737 Mid: 0.4730 | 26 Open: 0.4737 Close: 0.4737 Mid: 0.4736 | 27 Open: 0.4737 Close: 0.4769 Mid: 0.4753 | 28 Open: 0.4770 Close: 0.4778 Mid: 0.4774 | 29 Open: 0.4778 Close: 0.4788 Mid: 0.4784 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.4788 Close: 0.4776 Mid: 0.4784 | 3 Open: 0.4776 Close: 0.4775 Mid: 0.4773 | 4 Open: 0.4775 Close: 0.4785 Mid: 0.4780 | 5 Open: 0.4786 Close: 0.4804 Mid: 0.4795 | 6 Open: 0.4804 Close: 0.4807 Mid: 0.4810 | 7 |
8 | 9 Open: 0.4806 Close: 0.4813 Mid: 0.4811 | 10 Open: 0.4813 Close: 0.4810 Mid: 0.4810 | 11 Open: 0.4810 Close: 0.4808 Mid: 0.4810 | 12 Open: 0.4808 Close: 0.4791 Mid: 0.4802 | 13 Open: 0.4791 Close: 0.4764 Mid: 0.4777 | 14 |
15 | 16 Open: 0.4764 Close: 0.4777 Mid: 0.4770 | 17 Open: 0.4777 Close: 0.4792 Mid: 0.4785 | 18 Open: 0.4792 Close: 0.4771 Mid: 0.4782 | 19 Open: 0.4768 Close: 0.4736 Mid: 0.4752 | 20 Open: 0.4734 Close: 0.4736 Mid: 0.4726 | 21 |
22 | 23 | 24 | 25 | 26 | 27 | 28 |
29 | 30 | 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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