Best British Pound / Hong Kong Dollar Exchange Rate Today: 9.7720
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 9.7427, and the most competitive travel money / cash rates start at approximately 9.5427.
Live rate: 1 GBP = 9.7720 HKD (+0.61% )
Inverted: 1 HKD = 0.1023 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 | 9.7720 | 0 | 9.6743 | |||
 | 9.7427 (indicative) | 0 | 9.7427 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 9.7036 (indicative) | 0 | 9.7036 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 9.7720 | 0.43% | 9.7300 | 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. | |
 | 9.5427 | 0 | 9.5427 | 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. | |
 | 9.5302 | 0 | 9.5302 | 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. | |
 | 9.2556 | 0 | 9.2556 | 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  | 9.4984 (upper range) | Variable | 9.4984 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 9.4300 (lower range) | Variable | 9.4300 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 9.3323 | 0 | 9.3323 | International Payments and Transfers |
GBP/HKD Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 9.9440 Close: 9.8620 Mid: 9.9120 | 3 Open: 9.8620 Close: 9.8860 Mid: 9.8735 | 4 Open: 9.8870 Close: 9.9040 Mid: 9.9110 | 5 Open: 9.9040 Close: 9.9350 Mid: 9.9125 | 6 | |
7 | 8 Open: 9.9370 Close: 9.9530 Mid: 9.9310 | 9 Open: 9.9520 Close: 9.9340 Mid: 9.9430 | 10 Open: 9.9350 Close: 9.9630 Mid: 9.9430 | 11 Open: 9.9640 Close: 9.9780 Mid: 9.9545 | 12 Open: 9.9780 Close: 9.9730 Mid: 9.9740 | 13 |
14 | 15 Open: 9.9720 Close: 9.9590 Mid: 9.9620 | 16 Open: 9.9580 Close: 9.8890 Mid: 9.9185 | 17 Open: 9.8900 Close: 9.9160 Mid: 9.8940 | 18 Open: 9.9140 Close: 9.9380 Mid: 9.9160 | 19 Open: 9.9380 Close: 9.9290 Mid: 9.9230 | 20 |
21 | 22 Open: 9.9260 Close: 9.9340 Mid: 9.9370 | 23 Open: 9.9350 Close: 9.9240 Mid: 9.9325 | 24 Open: 9.9240 Close: 9.9480 Mid: 9.9535 | 25 Open: 9.9490 Close: 9.9380 Mid: 9.9370 | 26 Open: 9.9350 Close: 9.9280 Mid: 9.9365 | 27 |
28 | 29 Open: 9.9220 Close: 9.9320 Mid: 9.9165 | 30 Open: 9.9310 Close: 9.9290 Mid: 9.9100 | 31 Open: 9.9290 Close: 9.9180 Mid: 9.9330 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 9.9190 Close: 9.9650 Mid: 9.9240 | 2 Open: 9.9660 Close: 9.8810 Mid: 9.9260 | 3 | ||||
4 | 5 Open: 9.8830 Close: 9.8060 Mid: 9.8380 | 6 Open: 9.8050 Close: 9.8550 Mid: 9.8310 | 7 Open: 9.8550 Close: 9.8730 Mid: 9.8690 | 8 Open: 9.8740 Close: 9.8700 Mid: 9.8590 | 9 Open: 9.8680 Close: 9.8750 Mid: 9.8700 | 10 |
11 | 12 Open: 9.8820 Close: 9.8710 Mid: 9.8780 | 13 Open: 9.8710 Close: 9.8460 Mid: 9.8735 | 14 Open: 9.8470 Close: 9.8250 Mid: 9.8295 | 15 Open: 9.8250 Close: 9.8530 Mid: 9.8310 | 16 Open: 9.8520 Close: 9.8560 Mid: 9.8465 | 17 |
18 | 19 Open: 9.8580 Close: 9.8510 Mid: 9.8600 | 20 Open: 9.8510 Close: 9.8710 Mid: 9.8740 | 21 Open: 9.8720 Close: 9.8820 Mid: 9.8715 | 22 Open: 9.8840 Close: 9.9040 Mid: 9.9035 | 23 Open: 9.9030 Close: 9.9130 Mid: 9.9160 | 24 |
25 | 26 Open: 9.9210 Close: 9.9250 Mid: 9.9190 | 27 Open: 9.9250 Close: 9.9260 Mid: 9.9205 | 28 Open: 9.9250 Close: 9.9110 Mid: 9.9035 | 29 Open: 9.9110 Close: 9.8840 Mid: 9.9010 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 9.8840 Close: 9.9090 Mid: 9.8900 | 2 | |||||
3 | 4 Open: 9.9070 Close: 9.9310 Mid: 9.9230 | 5 Open: 9.9310 Close: 9.9400 Mid: 9.9385 | 6 Open: 9.9410 Close: 9.9630 Mid: 9.9570 | 7 Open: 9.9630 Close: 10.0180 Mid: 9.9865 | 8 Open: 10.0180 Close: 10.0560 Mid: 10.0470 | 9 |
10 | 11 Open: 10.0570 Close: 10.0220 Mid: 10.0320 | 12 Open: 10.0220 Close: 10.0090 Mid: 10.0030 | 13 Open: 10.0080 Close: 10.0120 Mid: 10.0085 | 14 Open: 10.0110 Close: 9.9770 Mid: 9.9945 | 15 Open: 9.9770 Close: 9.9610 Mid: 9.9670 | 16 |
17 | 18 Open: 9.9610 Close: 9.9530 Mid: 9.9570 | 19 Open: 9.9530 Close: 9.9520 Mid: 9.9345 | 20 Open: 9.9520 Close: 10.0020 Mid: 9.9640 | 21 Open: 10.0010 Close: 9.9000 Mid: 9.9540 | 22 Open: 9.9000 Close: 9.8550 Mid: 9.8735 | 23 |
24 | 25 Open: 9.8550 Close: 9.8840 Mid: 9.8715 | 26 Open: 9.8840 Close: 9.8800 Mid: 9.8925 | 27 Open: 9.8790 Close: 9.8900 Mid: 9.8760 | 28 Open: 9.8900 Close: 9.8800 Mid: 9.8745 | 29 Open: 9.8800 Close: 9.8790 Mid: 9.8825 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 9.8850 Close: 9.8220 Mid: 9.8540 | 2 Open: 9.8220 Close: 9.8470 Mid: 9.8305 | 3 Open: 9.8470 Close: 9.9060 Mid: 9.8715 | 4 Open: 9.9050 Close: 9.8970 Mid: 9.9105 | 5 Open: 9.8970 Close: 9.8940 Mid: 9.8725 | 6 | |
7 | 8 Open: 9.8860 Close: 9.9110 Mid: 9.8970 | 9 Open: 9.9110 Close: 9.9280 Mid: 9.9295 | 10 Open: 9.9280 Close: 9.8260 Mid: 9.8805 | 11 Open: 9.8270 Close: 9.8390 Mid: 9.8300 | 12 Open: 9.8390 Close: 9.7570 Mid: 9.7910 | 13 |
14 | 15 Open: 9.7540 Close: 9.7440 Mid: 9.7605 | 16 Open: 9.7440 Close: 9.7320 Mid: 9.7400 | 17 Open: 9.7320 Close: 9.7520 Mid: 9.7500 | 18 Open: 9.7520 Close: 9.7400 Mid: 9.7565 | 19 Open: 9.7400 Close: 9.6890 Mid: 9.7275 | 20 |
21 | 22 Open: 9.6940 Close: 9.6770 Mid: 9.6730 | 23 Open: 9.6770 Close: 9.7540 Mid: 9.7130 | 24 Open: 9.7540 Close: 9.7610 Mid: 9.7480 | 25 Open: 9.7610 Close: 9.7950 Mid: 9.7780 | 26 Open: 9.7950 Close: 9.7800 Mid: 9.7820 | 27 |
28 | 29 Open: 9.7740 Close: 9.8300 Mid: 9.8035 | 30 Open: 9.8300 Close: 9.7740 Mid: 9.8025 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 9.7740 Close: 9.8010 Mid: 9.7835 | 2 Open: 9.8010 Close: 9.7930 Mid: 9.7795 | 3 Open: 9.7930 Close: 9.8010 Mid: 9.8305 | 4 | |||
5 | 6 Open: 9.8040 Close: 9.8220 Mid: 9.8180 | 7 Open: 9.8220 Close: 9.7840 Mid: 9.8035 | 8 Open: 9.7840 Close: 9.7710 Mid: 9.7690 | 9 Open: 9.7700 Close: 9.7860 Mid: 9.7585 | 10 Open: 9.7860 Close: 9.7870 Mid: 9.7840 | 11 |
12 | 13 Open: 9.7890 Close: 9.8110 Mid: 9.8000 | 14 Open: 9.8110 Close: 9.8370 Mid: 9.8055 | 15 Open: 9.8370 Close: 9.9080 Mid: 9.8690 | 16 Open: 9.9080 Close: 9.8840 Mid: 9.8900 | 17 Open: 9.8840 Close: 9.9090 Mid: 9.8920 | 18 |
19 | 20 Open: 9.9040 Close: 9.9090 Mid: 9.9100 | 21 Open: 9.9090 Close: 9.9190 Mid: 9.9175 | 22 Open: 9.9190 Close: 9.9290 Mid: 9.9375 | 23 Open: 9.9290 Close: 9.9170 Mid: 9.9290 | 24 Open: 9.9170 Close: 9.9510 Mid: 9.9330 | 25 |
26 | 27 Open: 9.9480 Close: 9.9700 Mid: 9.9595 | 28 Open: 9.9700 Close: 9.9690 Mid: 9.9805 | 29 Open: 9.9690 Close: 9.9240 Mid: 9.9505 | 30 Open: 9.9240 Close: 9.9540 Mid: 9.9380 | 31 Open: 9.9540 Close: 9.9640 Mid: 9.9550 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 9.9570 Close: 10.0180 Mid: 9.9725 | 4 Open: 10.0170 Close: 9.9780 Mid: 9.9905 | 5 Open: 9.9780 Close: 9.9890 Mid: 9.9790 | 6 Open: 9.9890 Close: 9.9890 Mid: 9.9860 | 7 Open: 9.9890 Close: 9.9380 Mid: 9.9690 | 8 |
9 | 10 Open: 9.9380 Close: 9.9460 Mid: 9.9335 | 11 Open: 9.9460 Close: 9.9540 Mid: 9.9430 | 12 Open: 9.9540 Close: 9.9940 Mid: 9.9945 | 13 Open: 9.9940 Close: 9.9680 Mid: 9.9765 | 14 Open: 9.9680 Close: 9.9100 Mid: 9.9280 | 15 |
16 | 17 Open: 9.9100 Close: 9.9230 Mid: 9.9075 | 18 Open: 9.9230 Close: 9.9220 Mid: 9.9120 | 19 Open: 9.9220 Close: 9.9310 Mid: 9.9310 | 20 Open: 9.9310 Close: 9.8780 Mid: 9.9050 | 21 Open: 9.8780 Close: 9.8700 Mid: 9.8685 | 22 |
23 | 24 Open: 9.8620 Close: 9.9060 Mid: 9.8860 | 25 Open: 9.9060 Close: 9.9070 Mid: 9.9060 | 26 Open: 9.9080 Close: 9.8570 Mid: 9.8825 | 27 Open: 9.8570 Close: 9.8700 Mid: 9.8715 | 28 Open: 9.8700 Close: 9.8740 Mid: 9.8710 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 9.8680 Close: 9.8820 Mid: 9.8975 | 2 Open: 9.8820 Close: 9.9120 Mid: 9.8850 | 3 Open: 9.9120 Close: 9.9520 Mid: 9.9430 | 4 Open: 9.9520 Close: 9.9640 Mid: 9.9600 | 5 Open: 9.9640 Close: 10.0130 Mid: 9.9875 | 6 | |
7 | 8 Open: 9.9960 Close: 10.0020 Mid: 10.0150 | 9 Open: 10.0030 Close: 9.9890 Mid: 10.0000 | 10 Open: 9.9890 Close: 10.0360 Mid: 10.0115 | 11 Open: 10.0360 Close: 10.0830 Mid: 10.0730 | 12 Open: 10.0830 Close: 10.1420 Mid: 10.1075 | 13 |
14 | 15 Open: 10.1200 Close: 10.1230 Mid: 10.1300 | 16 Open: 10.1240 Close: 10.1310 Mid: 10.1160 | 17 Open: 10.1300 Close: 10.1570 Mid: 10.1530 | 18 Open: 10.1580 Close: 10.1100 Mid: 10.1330 | 19 Open: 10.1100 Close: 10.0850 Mid: 10.0975 | 20 |
21 | 22 Open: 10.0900 Close: 10.0960 Mid: 10.0900 | 23 Open: 10.0970 Close: 10.0800 Mid: 10.0805 | 24 Open: 10.0810 Close: 10.0780 Mid: 10.0785 | 25 Open: 10.0780 Close: 10.0330 Mid: 10.0575 | 26 Open: 10.0330 Close: 10.0450 Mid: 10.0440 | 27 |
28 | 29 Open: 10.0420 Close: 10.0450 Mid: 10.0325 | 30 Open: 10.0450 Close: 10.0290 Mid: 10.0330 | 31 Open: 10.0290 Close: 10.0430 Mid: 10.0335 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 10.0440 Close: 9.9560 Mid: 9.9985 | 2 Open: 9.9560 Close: 9.9960 Mid: 9.9750 | 3 | ||||
4 | 5 Open: 9.9940 Close: 9.9520 Mid: 9.9420 | 6 Open: 9.9520 Close: 9.8920 Mid: 9.9245 | 7 Open: 9.8920 Close: 9.8990 Mid: 9.9075 | 8 Open: 9.8990 Close: 9.9370 Mid: 9.9035 | 9 Open: 9.9370 Close: 9.9490 Mid: 9.9420 | 10 |
11 | 12 Open: 9.9570 Close: 9.9460 Mid: 9.9530 | 13 Open: 9.9460 Close: 10.0180 Mid: 9.9850 | 14 Open: 10.0190 Close: 9.9960 Mid: 10.0060 | 15 Open: 9.9960 Close: 10.0230 Mid: 10.0070 | 16 Open: 10.0220 Close: 10.0890 Mid: 10.0565 | 17 |
18 | 19 Open: 10.0780 Close: 10.1170 Mid: 10.0990 | 20 Open: 10.1180 Close: 10.1510 Mid: 10.1380 | 21 Open: 10.1510 Close: 10.2020 Mid: 10.1810 | 22 Open: 10.2020 Close: 10.2090 Mid: 10.2160 | 23 Open: 10.2080 Close: 10.3050 Mid: 10.2600 | 24 |
25 | 26 Open: 10.2950 Close: 10.2810 Mid: 10.2930 | 27 Open: 10.2810 Close: 10.3470 Mid: 10.3150 | 28 Open: 10.3460 Close: 10.2900 Mid: 10.3105 | 29 Open: 10.2910 Close: 10.2680 Mid: 10.2815 | 30 Open: 10.2680 Close: 10.2360 Mid: 10.2560 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 10.2390 Close: 10.2490 Mid: 10.2435 | 3 Open: 10.2500 Close: 10.2270 Mid: 10.2295 | 4 Open: 10.2270 Close: 10.2520 Mid: 10.2430 | 5 Open: 10.2510 Close: 10.2720 Mid: 10.2595 | 6 Open: 10.2720 Close: 10.2370 Mid: 10.2665 | 7 |
8 | 9 Open: 10.2310 Close: 10.1940 Mid: 10.2185 | 10 Open: 10.1930 Close: 10.1990 Mid: 10.1965 | 11 Open: 10.1990 Close: 10.1720 Mid: 10.1815 | 12 Open: 10.1720 Close: 10.2410 Mid: 10.2035 | 13 Open: 10.2410 Close: 10.2360 Mid: 10.2440 | 14 |
15 | 16 Open: 10.2350 Close: 10.3000 Mid: 10.2665 | 17 Open: 10.2990 Close: 10.2570 Mid: 10.2775 | 18 Open: 10.2570 Close: 10.2960 Mid: 10.3070 | 19 Open: 10.2970 Close: 10.3540 Mid: 10.3145 | 20 Open: 10.3540 Close: 10.3790 Mid: 10.3670 | 21 |
22 | 23 Open: 10.3740 Close: 10.3930 Mid: 10.3585 | 24 Open: 10.3930 Close: 10.4410 Mid: 10.4105 | 25 Open: 10.4400 Close: 10.3720 Mid: 10.4075 | 26 Open: 10.3720 Close: 10.4360 Mid: 10.4080 | 27 Open: 10.4360 Close: 10.3930 Mid: 10.4145 | 28 |
29 | 30 Open: 10.3970 Close: 10.3960 Mid: 10.4010 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 10.3970 Close: 10.3250 Mid: 10.3485 | 2 Open: 10.3250 Close: 10.2990 Mid: 10.3080 | 3 Open: 10.2990 Close: 10.1900 Mid: 10.2365 | 4 Open: 10.1900 Close: 10.1920 Mid: 10.1915 | 5 | ||
6 | 7 Open: 10.1910 Close: 10.1610 Mid: 10.1730 | 8 Open: 10.1600 Close: 10.1890 Mid: 10.1730 | 9 Open: 10.1900 Close: 10.1580 Mid: 10.1695 | 10 Open: 10.1580 Close: 10.1470 Mid: 10.1475 | 11 Open: 10.1480 Close: 10.1520 Mid: 10.1510 | 12 |
13 | 14 Open: 10.1570 Close: 10.1390 Mid: 10.1365 | 15 Open: 10.1400 Close: 10.1550 Mid: 10.1525 | 16 Open: 10.1550 Close: 10.0950 Mid: 10.1215 | 17 Open: 10.0940 Close: 10.1150 Mid: 10.1040 | 18 Open: 10.1160 Close: 10.1430 Mid: 10.1325 | 19 |
20 | 21 Open: 10.1370 Close: 10.0930 Mid: 10.1170 | 22 Open: 10.0930 Close: 10.0920 Mid: 10.0905 | 23 Open: 10.0920 Close: 10.0380 Mid: 10.0655 | 24 Open: 10.0380 Close: 10.0840 Mid: 10.0615 | 25 Open: 10.0830 Close: 10.0720 Mid: 10.0840 | 26 |
27 | 28 Open: 10.0720 Close: 10.0820 Mid: 10.0800 | 29 Open: 10.0810 Close: 10.1150 Mid: 10.0930 | 30 Open: 10.1150 Close: 10.0740 Mid: 10.0955 | 31 Open: 10.0750 Close: 10.0270 Mid: 10.0445 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 10.0270 Close: 10.0530 Mid: 10.0575 | 2 | |||||
3 | 4 Open: 10.0850 Close: 10.0700 Mid: 10.0790 | 5 Open: 10.0710 Close: 10.1380 Mid: 10.1015 | 6 Open: 10.1370 Close: 10.0160 Mid: 10.0615 | 7 Open: 10.0150 Close: 10.0910 Mid: 10.0610 | 8 Open: 10.0910 Close: 10.0450 Mid: 10.0560 | 9 |
10 | 11 Open: 10.0340 Close: 10.0060 Mid: 10.0230 | 12 Open: 10.0060 Close: 9.9150 Mid: 9.9525 | 13 Open: 9.9150 Close: 9.8880 Mid: 9.9010 | 14 Open: 9.8880 Close: 9.8570 Mid: 9.8655 | 15 Open: 9.8570 Close: 9.8260 Mid: 9.8465 | 16 |
17 | 18 Open: 9.8330 Close: 9.8680 Mid: 9.8475 | 19 Open: 9.8680 Close: 9.8710 Mid: 9.8455 | 20 Open: 9.8710 Close: 9.8480 Mid: 9.8630 | 21 Open: 9.8480 Close: 9.7980 Mid: 9.8215 | 22 Open: 9.7980 Close: 9.7550 Mid: 9.7610 | 23 |
24 | 25 Open: 9.7890 Close: 9.7810 Mid: 9.7865 | 26 Open: 9.7810 Close: 9.7830 Mid: 9.7755 | 27 Open: 9.7830 Close: 9.8670 Mid: 9.8285 | 28 Open: 9.8670 Close: 9.8750 Mid: 9.8600 | 29 Open: 9.8750 Close: 9.9110 Mid: 9.8935 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 9.9070 Close: 9.8480 Mid: 9.8650 | 3 Open: 9.8480 Close: 9.8630 Mid: 9.8605 | 4 Open: 9.8630 Close: 9.8860 Mid: 9.8680 | 5 Open: 9.8860 Close: 9.9310 Mid: 9.9095 | 6 Open: 9.9310 Close: 9.9120 Mid: 9.9315 | 7 |
8 | 9 Open: 9.9070 Close: 9.9120 Mid: 9.9220 | 10 Open: 9.9120 Close: 9.9290 Mid: 9.9150 | 11 Open: 9.9290 Close: 9.9130 Mid: 9.9110 | 12 Open: 9.9130 Close: 9.8530 Mid: 9.8950 | 13 Open: 9.8530 Close: 9.8100 Mid: 9.8320 | 14 |
15 | 16 Open: 9.8100 Close: 9.8600 Mid: 9.8400 | 17 Open: 9.8600 Close: 9.8750 Mid: 9.8655 | 18 Open: 9.8760 Close: 9.7710 Mid: 9.8250 | 19 Open: 9.7710 Close: 9.7130 Mid: 9.7750 | 20 Open: 9.7130 Close: 9.7720 Mid: 9.7475 | 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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