Best Euro / British Pound Exchange Rate Today: 0.8299
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 0.8274, and the most competitive travel money / cash rates start at approximately 0.8224.
Live rate: 1 EUR = 0.8299 GBP (+0.12% )
Inverted: 1 GBP = 1.2050 EUR
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 | 0.8299 | 0 | 0.8216 | |||
 | 0.8274 (indicative) | 0 | 0.8274 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 0.8241 (indicative) | 0 | 0.8241 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 0.8299 | 0.58% | 0.8251 | 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. | |
 | 0.8224 | 0 | 0.8224 | 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  | 0.8067 (upper range) | Variable | 0.8067 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 0.8009 (lower range) | Variable | 0.8009 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 0.7926 | 0 | 0.7926 | 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
EUR/GBP Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8669 Close: 0.8669 Mid: 0.8669 | 2 Open: 0.8670 Close: 0.8670 Mid: 0.8664 | 3 Open: 0.8671 Close: 0.8623 Mid: 0.8647 | 4 Open: 0.8624 Close: 0.8632 Mid: 0.8625 | 5 Open: 0.8631 Close: 0.8604 Mid: 0.8617 | 6 | |
7 | 8 Open: 0.8605 Close: 0.8589 Mid: 0.8605 | 9 Open: 0.8590 Close: 0.8600 Mid: 0.8597 | 10 Open: 0.8601 Close: 0.8611 Mid: 0.8608 | 11 Open: 0.8611 Close: 0.8597 Mid: 0.8606 | 12 Open: 0.8597 Close: 0.8588 Mid: 0.8596 | 13 |
14 | 15 Open: 0.8596 Close: 0.8603 Mid: 0.8599 | 16 Open: 0.8604 Close: 0.8607 Mid: 0.8606 | 17 Open: 0.8606 Close: 0.8583 Mid: 0.8593 | 18 Open: 0.8585 Close: 0.8559 Mid: 0.8573 | 19 Open: 0.8560 Close: 0.8579 Mid: 0.8575 | 20 |
21 | 22 Open: 0.8582 Close: 0.8563 Mid: 0.8570 | 23 Open: 0.8563 Close: 0.8554 Mid: 0.8556 | 24 Open: 0.8555 Close: 0.8554 Mid: 0.8549 | 25 Open: 0.8554 Close: 0.8534 Mid: 0.8543 | 26 Open: 0.8535 Close: 0.8543 Mid: 0.8537 | 27 |
28 | 29 Open: 0.8542 Close: 0.8524 Mid: 0.8529 | 30 Open: 0.8524 Close: 0.8540 Mid: 0.8542 | 31 Open: 0.8540 Close: 0.8527 Mid: 0.8536 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8526 Close: 0.8531 Mid: 0.8540 | 2 Open: 0.8531 Close: 0.8541 Mid: 0.8534 | 3 | ||||
4 | 5 Open: 0.8535 Close: 0.8568 Mid: 0.8551 | 6 Open: 0.8569 Close: 0.8537 Mid: 0.8553 | 7 Open: 0.8537 Close: 0.8531 Mid: 0.8529 | 8 Open: 0.8531 Close: 0.8541 Mid: 0.8537 | 9 Open: 0.8542 Close: 0.8540 Mid: 0.8540 | 10 |
11 | 12 Open: 0.8537 Close: 0.8531 Mid: 0.8538 | 13 Open: 0.8530 Close: 0.8505 Mid: 0.8518 | 14 Open: 0.8504 Close: 0.8538 Mid: 0.8524 | 15 Open: 0.8538 Close: 0.8550 Mid: 0.8553 | 16 Open: 0.8550 Close: 0.8552 Mid: 0.8552 | 17 |
18 | 19 Open: 0.8552 Close: 0.8558 Mid: 0.8549 | 20 Open: 0.8558 Close: 0.8563 Mid: 0.8562 | 21 Open: 0.8562 Close: 0.8561 Mid: 0.8565 | 22 Open: 0.8563 Close: 0.8549 Mid: 0.8561 | 23 Open: 0.8548 Close: 0.8538 Mid: 0.8540 | 24 |
25 | 26 Open: 0.8536 Close: 0.8554 Mid: 0.8547 | 27 Open: 0.8555 Close: 0.8549 Mid: 0.8558 | 28 Open: 0.8549 Close: 0.8560 Mid: 0.8556 | 29 Open: 0.8560 Close: 0.8559 Mid: 0.8561 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8559 Close: 0.8565 Mid: 0.8565 | 2 | |||||
3 | 4 Open: 0.8565 Close: 0.8553 Mid: 0.8559 | 5 Open: 0.8554 Close: 0.8545 Mid: 0.8548 | 6 Open: 0.8545 Close: 0.8561 Mid: 0.8552 | 7 Open: 0.8561 Close: 0.8548 Mid: 0.8544 | 8 Open: 0.8548 Close: 0.8511 Mid: 0.8526 | 9 |
10 | 11 Open: 0.8510 Close: 0.8526 Mid: 0.8522 | 12 Open: 0.8526 Close: 0.8542 Mid: 0.8539 | 13 Open: 0.8542 Close: 0.8555 Mid: 0.8549 | 14 Open: 0.8555 Close: 0.8534 Mid: 0.8546 | 15 Open: 0.8534 Close: 0.8550 Mid: 0.8543 | 16 |
17 | 18 Open: 0.8545 Close: 0.8541 Mid: 0.8551 | 19 Open: 0.8541 Close: 0.8541 Mid: 0.8544 | 20 Open: 0.8541 Close: 0.8543 Mid: 0.8546 | 21 Open: 0.8543 Close: 0.8579 Mid: 0.8557 | 22 Open: 0.8579 Close: 0.8578 Mid: 0.8585 | 23 |
24 | 25 Open: 0.8582 Close: 0.8576 Mid: 0.8575 | 26 Open: 0.8577 Close: 0.8578 Mid: 0.8579 | 27 Open: 0.8578 Close: 0.8566 Mid: 0.8575 | 28 Open: 0.8566 Close: 0.8546 Mid: 0.8558 | 29 Open: 0.8546 Close: 0.8553 Mid: 0.8543 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8544 Close: 0.8560 Mid: 0.8551 | 2 Open: 0.8560 Close: 0.8562 Mid: 0.8558 | 3 Open: 0.8563 Close: 0.8564 Mid: 0.8570 | 4 Open: 0.8564 Close: 0.8572 Mid: 0.8572 | 5 Open: 0.8572 Close: 0.8575 Mid: 0.8579 | 6 | |
7 | 8 Open: 0.8583 Close: 0.8581 Mid: 0.8579 | 9 Open: 0.8581 Close: 0.8564 Mid: 0.8572 | 10 Open: 0.8564 Close: 0.8567 Mid: 0.8559 | 11 Open: 0.8567 Close: 0.8545 Mid: 0.8556 | 12 Open: 0.8545 Close: 0.8547 Mid: 0.8540 | 13 |
14 | 15 Open: 0.8545 Close: 0.8537 Mid: 0.8540 | 16 Open: 0.8537 Close: 0.8545 Mid: 0.8539 | 17 Open: 0.8545 Close: 0.8570 Mid: 0.8547 | 18 Open: 0.8570 Close: 0.8558 Mid: 0.8561 | 19 Open: 0.8558 Close: 0.8615 Mid: 0.8585 | 20 |
21 | 22 Open: 0.8609 Close: 0.8627 Mid: 0.8626 | 23 Open: 0.8627 Close: 0.8596 Mid: 0.8619 | 24 Open: 0.8596 Close: 0.8584 Mid: 0.8592 | 25 Open: 0.8584 Close: 0.8575 Mid: 0.8578 | 26 Open: 0.8575 Close: 0.8560 Mid: 0.8571 | 27 |
28 | 29 Open: 0.8565 Close: 0.8534 Mid: 0.8551 | 30 Open: 0.8534 Close: 0.8538 Mid: 0.8543 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8538 Close: 0.8552 Mid: 0.8547 | 2 Open: 0.8552 Close: 0.8557 Mid: 0.8556 | 3 Open: 0.8557 Close: 0.8578 Mid: 0.8569 | 4 | |||
5 | 6 Open: 0.8576 Close: 0.8573 Mid: 0.8569 | 7 Open: 0.8573 Close: 0.8597 Mid: 0.8584 | 8 Open: 0.8597 Close: 0.8600 Mid: 0.8605 | 9 Open: 0.8600 Close: 0.8609 Mid: 0.8606 | 10 Open: 0.8609 Close: 0.8600 Mid: 0.8604 | 11 |
12 | 13 Open: 0.8602 Close: 0.8591 Mid: 0.8600 | 14 Open: 0.8593 Close: 0.8592 Mid: 0.8601 | 15 Open: 0.8592 Close: 0.8580 Mid: 0.8588 | 16 Open: 0.8580 Close: 0.8577 Mid: 0.8580 | 17 Open: 0.8577 Close: 0.8557 Mid: 0.8568 | 18 |
19 | 20 Open: 0.8561 Close: 0.8544 Mid: 0.8555 | 21 Open: 0.8545 Close: 0.8540 Mid: 0.8542 | 22 Open: 0.8540 Close: 0.8511 Mid: 0.8524 | 23 Open: 0.8511 Close: 0.8517 Mid: 0.8515 | 24 Open: 0.8517 Close: 0.8516 Mid: 0.8522 | 25 |
26 | 27 Open: 0.8518 Close: 0.8504 Mid: 0.8509 | 28 Open: 0.8504 Close: 0.8508 Mid: 0.8507 | 29 Open: 0.8508 Close: 0.8505 Mid: 0.8500 | 30 Open: 0.8505 Close: 0.8508 Mid: 0.8510 | 31 Open: 0.8508 Close: 0.8515 Mid: 0.8521 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 0.8518 Close: 0.8514 Mid: 0.8523 | 4 Open: 0.8514 Close: 0.8519 Mid: 0.8516 | 5 Open: 0.8519 Close: 0.8500 Mid: 0.8510 | 6 Open: 0.8500 Close: 0.8513 Mid: 0.8512 | 7 Open: 0.8513 Close: 0.8493 Mid: 0.8505 | 8 |
9 | 10 Open: 0.8485 Close: 0.8456 Mid: 0.8464 | 11 Open: 0.8456 Close: 0.8430 Mid: 0.8443 | 12 Open: 0.8430 Close: 0.8446 Mid: 0.8435 | 13 Open: 0.8446 Close: 0.8413 Mid: 0.8435 | 14 Open: 0.8413 Close: 0.8436 Mid: 0.8419 | 15 |
16 | 17 Open: 0.8438 Close: 0.8449 Mid: 0.8448 | 18 Open: 0.8449 Close: 0.8451 Mid: 0.8455 | 19 Open: 0.8452 Close: 0.8446 Mid: 0.8443 | 20 Open: 0.8446 Close: 0.8455 Mid: 0.8448 | 21 Open: 0.8455 Close: 0.8457 Mid: 0.8455 | 22 |
23 | 24 Open: 0.8458 Close: 0.8461 Mid: 0.8465 | 25 Open: 0.8461 Close: 0.8445 Mid: 0.8448 | 26 Open: 0.8445 Close: 0.8462 Mid: 0.8448 | 27 Open: 0.8462 Close: 0.8467 Mid: 0.8465 | 28 Open: 0.8467 Close: 0.8475 Mid: 0.8470 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8493 Close: 0.8491 Mid: 0.8486 | 2 Open: 0.8491 Close: 0.8471 Mid: 0.8481 | 3 Open: 0.8471 Close: 0.8464 Mid: 0.8469 | 4 Open: 0.8464 Close: 0.8474 Mid: 0.8468 | 5 Open: 0.8474 Close: 0.8462 Mid: 0.8465 | 6 | |
7 | 8 Open: 0.8448 Close: 0.8452 Mid: 0.8450 | 9 Open: 0.8453 Close: 0.8457 Mid: 0.8451 | 10 Open: 0.8457 Close: 0.8429 Mid: 0.8443 | 11 Open: 0.8428 Close: 0.8416 Mid: 0.8423 | 12 Open: 0.8416 Close: 0.8393 Mid: 0.8407 | 13 |
14 | 15 Open: 0.8395 Close: 0.8402 Mid: 0.8401 | 16 Open: 0.8402 Close: 0.8401 Mid: 0.8404 | 17 Open: 0.8401 Close: 0.8409 Mid: 0.8397 | 18 Open: 0.8409 Close: 0.8418 Mid: 0.8413 | 19 Open: 0.8418 Close: 0.8428 Mid: 0.8423 | 20 |
21 | 22 Open: 0.8428 Close: 0.8421 Mid: 0.8423 | 23 Open: 0.8421 Close: 0.8409 Mid: 0.8412 | 24 Open: 0.8409 Close: 0.8399 Mid: 0.8406 | 25 Open: 0.8399 Close: 0.8439 Mid: 0.8418 | 26 Open: 0.8439 Close: 0.8437 Mid: 0.8439 | 27 |
28 | 29 Open: 0.8447 Close: 0.8414 Mid: 0.8436 | 30 Open: 0.8414 Close: 0.8426 Mid: 0.8420 | 31 Open: 0.8426 Close: 0.8421 Mid: 0.8433 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8421 Close: 0.8471 Mid: 0.8446 | 2 Open: 0.8471 Close: 0.8522 Mid: 0.8501 | 3 | ||||
4 | 5 Open: 0.8531 Close: 0.8571 Mid: 0.8572 | 6 Open: 0.8571 Close: 0.8613 Mid: 0.8589 | 7 Open: 0.8613 Close: 0.8605 Mid: 0.8596 | 8 Open: 0.8606 Close: 0.8564 Mid: 0.8592 | 9 Open: 0.8564 Close: 0.8557 Mid: 0.8564 | 10 |
11 | 12 Open: 0.8548 Close: 0.8561 Mid: 0.8556 | 13 Open: 0.8561 Close: 0.8547 Mid: 0.8549 | 14 Open: 0.8547 Close: 0.8585 Mid: 0.8567 | 15 Open: 0.8585 Close: 0.8536 Mid: 0.8561 | 16 Open: 0.8536 Close: 0.8520 Mid: 0.8524 | 17 |
18 | 19 Open: 0.8530 Close: 0.8532 Mid: 0.8522 | 20 Open: 0.8532 Close: 0.8539 Mid: 0.8528 | 21 Open: 0.8539 Close: 0.8520 Mid: 0.8527 | 22 Open: 0.8520 Close: 0.8488 Mid: 0.8501 | 23 Open: 0.8489 Close: 0.8468 Mid: 0.8472 | 24 |
25 | 26 Open: 0.8475 Close: 0.8464 Mid: 0.8463 | 27 Open: 0.8464 Close: 0.8434 Mid: 0.8450 | 28 Open: 0.8435 Close: 0.8430 Mid: 0.8424 | 29 Open: 0.8430 Close: 0.8413 Mid: 0.8418 | 30 Open: 0.8413 Close: 0.8414 Mid: 0.8414 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.8413 Close: 0.8422 Mid: 0.8422 | 3 Open: 0.8422 Close: 0.8421 Mid: 0.8421 | 4 Open: 0.8422 Close: 0.8432 Mid: 0.8426 | 5 Open: 0.8432 Close: 0.8431 Mid: 0.8428 | 6 Open: 0.8431 Close: 0.8442 Mid: 0.8429 | 7 |
8 | 9 Open: 0.8445 Close: 0.8441 Mid: 0.8440 | 10 Open: 0.8441 Close: 0.8424 Mid: 0.8437 | 11 Open: 0.8424 Close: 0.8443 Mid: 0.8443 | 12 Open: 0.8443 Close: 0.8438 Mid: 0.8445 | 13 Open: 0.8438 Close: 0.8438 Mid: 0.8440 | 14 |
15 | 16 Open: 0.8441 Close: 0.8424 Mid: 0.8432 | 17 Open: 0.8424 Close: 0.8445 Mid: 0.8436 | 18 Open: 0.8445 Close: 0.8415 Mid: 0.8429 | 19 Open: 0.8415 Close: 0.8403 Mid: 0.8408 | 20 Open: 0.8403 Close: 0.8380 Mid: 0.8392 | 21 |
22 | 23 Open: 0.8384 Close: 0.8325 Mid: 0.8355 | 24 Open: 0.8325 Close: 0.8335 Mid: 0.8328 | 25 Open: 0.8335 Close: 0.8355 Mid: 0.8353 | 26 Open: 0.8355 Close: 0.8332 Mid: 0.8344 | 27 Open: 0.8332 Close: 0.8348 Mid: 0.8336 | 28 |
29 | 30 Open: 0.8346 Close: 0.8325 Mid: 0.8336 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8325 Close: 0.8331 Mid: 0.8328 | 2 Open: 0.8331 Close: 0.8325 Mid: 0.8330 | 3 Open: 0.8325 Close: 0.8404 Mid: 0.8379 | 4 Open: 0.8404 Close: 0.8364 Mid: 0.8380 | 5 | ||
6 | 7 Open: 0.8367 Close: 0.8388 Mid: 0.8378 | 8 Open: 0.8388 Close: 0.8379 Mid: 0.8389 | 9 Open: 0.8380 Close: 0.8369 Mid: 0.8378 | 10 Open: 0.8369 Close: 0.8375 Mid: 0.8370 | 11 Open: 0.8375 Close: 0.8370 Mid: 0.8374 | 12 |
13 | 14 Open: 0.8364 Close: 0.8353 Mid: 0.8361 | 15 Open: 0.8354 Close: 0.8331 Mid: 0.8341 | 16 Open: 0.8331 Close: 0.8362 Mid: 0.8354 | 17 Open: 0.8361 Close: 0.8324 Mid: 0.8344 | 18 Open: 0.8324 Close: 0.8327 Mid: 0.8316 | 19 |
20 | 21 Open: 0.8323 Close: 0.8329 Mid: 0.8331 | 22 Open: 0.8329 Close: 0.8316 Mid: 0.8331 | 23 Open: 0.8317 Close: 0.8344 Mid: 0.8324 | 24 Open: 0.8344 Close: 0.8344 Mid: 0.8333 | 25 Open: 0.8345 Close: 0.8332 Mid: 0.8338 | 26 |
27 | 28 Open: 0.8325 Close: 0.8335 Mid: 0.8333 | 29 Open: 0.8335 Close: 0.8312 Mid: 0.8320 | 30 Open: 0.8312 Close: 0.8375 Mid: 0.8342 | 31 Open: 0.8375 Close: 0.8438 Mid: 0.8401 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8438 Close: 0.8382 Mid: 0.8406 | 2 | |||||
3 | 4 Open: 0.8389 Close: 0.8395 Mid: 0.8402 | 5 Open: 0.8396 Close: 0.8381 Mid: 0.8391 | 6 Open: 0.8380 Close: 0.8331 Mid: 0.8350 | 7 Open: 0.8330 Close: 0.8319 Mid: 0.8323 | 8 Open: 0.8319 Close: 0.8297 Mid: 0.8309 | 9 |
10 | 11 Open: 0.8298 Close: 0.8281 Mid: 0.8281 | 12 Open: 0.8281 Close: 0.8333 Mid: 0.8306 | 13 Open: 0.8334 Close: 0.8313 Mid: 0.8327 | 14 Open: 0.8313 Close: 0.8313 Mid: 0.8343 | 15 Open: 0.8313 Close: 0.8352 Mid: 0.8335 | 16 |
17 | 18 Open: 0.8338 Close: 0.8360 Mid: 0.8355 | 19 Open: 0.8360 Close: 0.8355 Mid: 0.8354 | 20 Open: 0.8355 Close: 0.8333 Mid: 0.8336 | 21 Open: 0.8333 Close: 0.8320 Mid: 0.8329 | 22 Open: 0.8320 Close: 0.8316 Mid: 0.8307 | 23 |
24 | 25 Open: 0.8329 Close: 0.8351 Mid: 0.8335 | 26 Open: 0.8351 Close: 0.8346 Mid: 0.8348 | 27 Open: 0.8346 Close: 0.8333 Mid: 0.8343 | 28 Open: 0.8333 Close: 0.8319 Mid: 0.8327 | 29 Open: 0.8319 Close: 0.8305 Mid: 0.8317 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.8308 Close: 0.8296 Mid: 0.8289 | 3 Open: 0.8296 Close: 0.8293 Mid: 0.8300 | 4 Open: 0.8293 Close: 0.8276 Mid: 0.8285 | 5 Open: 0.8276 Close: 0.8297 Mid: 0.8287 | 6 Open: 0.8297 Close: 0.8294 Mid: 0.8290 | 7 |
8 | 9 Open: 0.8293 Close: 0.8277 Mid: 0.8281 | 10 Open: 0.8277 Close: 0.8243 Mid: 0.8261 | 11 Open: 0.8243 Close: 0.8232 Mid: 0.8239 | 12 Open: 0.8232 Close: 0.8259 Mid: 0.8250 | 13 Open: 0.8259 Close: 0.8323 Mid: 0.8290 | 14 |
15 | 16 Open: 0.8317 Close: 0.8288 Mid: 0.8301 | 17 Open: 0.8288 Close: 0.8254 Mid: 0.8273 | 18 Open: 0.8254 Close: 0.8234 Mid: 0.8254 | 19 Open: 0.8234 Close: 0.8289 Mid: 0.8258 | 20 Open: 0.8289 Close: 0.8299 Mid: 0.8292 | 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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