Best British Pound / Bulgarian Lev Exchange Rate Today: 2.3534
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 2.3463, and the most competitive travel money / cash rates start at approximately 2.2720.
Live rate: 1 GBP = 2.3534 BGN (-0.57% )
Inverted: 1 BGN = 0.4249 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 | 2.3534 | 0 | 2.3299 | |||
 | 2.3463 (indicative) | 0 | 2.3463 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 2.3369 (indicative) | 0 | 2.3369 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 2.3534 | 0.53% | 2.3409 | 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. | |
 | 2.2720 | 0 | 2.2720 | 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. | |
 | 2.2640 | 0 | 2.2640 | 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. | |
 | 2.2025 | 0 | 2.2025 | 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  | 2.2875 (upper range) | Variable | 2.2875 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 2.2710 (lower range) | Variable | 2.2710 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 2.2475 | 0 | 2.2475 | International Payments and Transfers |
GBP/BGN Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 2.2518 Close: 2.2566 Mid: 2.2543 | 3 Open: 2.2565 Close: 2.2621 Mid: 2.2591 | 4 Open: 2.2626 Close: 2.2661 Mid: 2.2644 | 5 Open: 2.2661 Close: 2.2702 Mid: 2.2682 | 6 | |
7 | 8 Open: 2.2729 Close: 2.2720 Mid: 2.2725 | 9 Open: 2.2723 Close: 2.2748 Mid: 2.2738 | 10 Open: 2.2747 Close: 2.2731 Mid: 2.2739 | 11 Open: 2.2729 Close: 2.2732 Mid: 2.2731 | 12 Open: 2.2732 Close: 2.2745 Mid: 2.2741 | 13 |
14 | 15 Open: 2.2746 Close: 2.2734 Mid: 2.2741 | 16 Open: 2.2734 Close: 2.2714 Mid: 2.2721 | 17 Open: 2.2714 Close: 2.2816 Mid: 2.2766 | 18 Open: 2.2813 Close: 2.2804 Mid: 2.2802 | 19 Open: 2.2806 Close: 2.2792 Mid: 2.2803 | 20 |
21 | 22 Open: 2.2793 Close: 2.2843 Mid: 2.2820 | 23 Open: 2.2843 Close: 2.2866 Mid: 2.2856 | 24 Open: 2.2865 Close: 2.2862 Mid: 2.2863 | 25 Open: 2.2861 Close: 2.2877 Mid: 2.2868 | 26 Open: 2.2880 Close: 2.2903 Mid: 2.2894 | 27 |
28 | 29 Open: 2.2904 Close: 2.2942 Mid: 2.2923 | 30 Open: 2.2942 Close: 2.2872 Mid: 2.2904 | 31 Open: 2.2874 Close: 2.2898 Mid: 2.2886 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.2901 Close: 2.2911 Mid: 2.2910 | 2 Open: 2.2912 Close: 2.2926 Mid: 2.2921 | 3 | ||||
4 | 5 Open: 2.2923 Close: 2.2851 Mid: 2.2887 | 6 Open: 2.2849 Close: 2.2872 Mid: 2.2855 | 7 Open: 2.2875 Close: 2.2934 Mid: 2.2905 | 8 Open: 2.2933 Close: 2.2907 Mid: 2.2920 | 9 Open: 2.2907 Close: 2.2897 Mid: 2.2899 | 10 |
11 | 12 Open: 2.2896 Close: 2.2915 Mid: 2.2905 | 13 Open: 2.2916 Close: 2.2987 Mid: 2.2952 | 14 Open: 2.2988 Close: 2.2924 Mid: 2.2957 | 15 Open: 2.2922 Close: 2.2859 Mid: 2.2887 | 16 Open: 2.2860 Close: 2.2858 Mid: 2.2861 | 17 |
18 | 19 Open: 2.2860 Close: 2.2879 Mid: 2.2874 | 20 Open: 2.2877 Close: 2.2826 Mid: 2.2845 | 21 Open: 2.2827 Close: 2.2846 Mid: 2.2837 | 22 Open: 2.2846 Close: 2.2846 Mid: 2.2841 | 23 Open: 2.2848 Close: 2.2911 Mid: 2.2880 | 24 |
25 | 26 Open: 2.2910 Close: 2.2870 Mid: 2.2890 | 27 Open: 2.2866 Close: 2.2861 Mid: 2.2859 | 28 Open: 2.2862 Close: 2.2861 Mid: 2.2866 | 29 Open: 2.2860 Close: 2.2842 Mid: 2.2850 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.2843 Close: 2.2846 Mid: 2.2844 | 2 | |||||
3 | 4 Open: 2.2846 Close: 2.2854 Mid: 2.2849 | 5 Open: 2.2855 Close: 2.2872 Mid: 2.2863 | 6 Open: 2.2874 Close: 2.2875 Mid: 2.2879 | 7 Open: 2.2873 Close: 2.2885 Mid: 2.2874 | 8 Open: 2.2885 Close: 2.2960 Mid: 2.2921 | 9 |
10 | 11 Open: 2.2961 Close: 2.2949 Mid: 2.2957 | 12 Open: 2.2948 Close: 2.2886 Mid: 2.2915 | 13 Open: 2.2887 Close: 2.2881 Mid: 2.2888 | 14 Open: 2.2880 Close: 2.2900 Mid: 2.2886 | 15 Open: 2.2901 Close: 2.2895 Mid: 2.2898 | 16 |
17 | 18 Open: 2.2878 Close: 2.2882 Mid: 2.2879 | 19 Open: 2.2883 Close: 2.2889 Mid: 2.2880 | 20 Open: 2.2900 Close: 2.2898 Mid: 2.2898 | 21 Open: 2.2898 Close: 2.2819 Mid: 2.2858 | 22 Open: 2.2817 Close: 2.2772 Mid: 2.2791 | 23 |
24 | 25 Open: 2.2774 Close: 2.2816 Mid: 2.2796 | 26 Open: 2.2805 Close: 2.2804 Mid: 2.2806 | 27 Open: 2.2802 Close: 2.2808 Mid: 2.2805 | 28 Open: 2.2809 Close: 2.2883 Mid: 2.2846 | 29 Open: 2.2883 Close: 2.2879 Mid: 2.2885 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.2880 Close: 2.2849 Mid: 2.2865 | 2 Open: 2.2857 Close: 2.2856 Mid: 2.2862 | 3 Open: 2.2855 Close: 2.2826 Mid: 2.2840 | 4 Open: 2.2827 Close: 2.2800 Mid: 2.2812 | 5 Open: 2.2801 Close: 2.2799 Mid: 2.2801 | 6 | |
7 | 8 Open: 2.2782 Close: 2.2795 Mid: 2.2789 | 9 Open: 2.2795 Close: 2.2828 Mid: 2.2811 | 10 Open: 2.2828 Close: 2.2866 Mid: 2.2852 | 11 Open: 2.2863 Close: 2.2863 Mid: 2.2854 | 12 Open: 2.2865 Close: 2.2892 Mid: 2.2880 | 13 |
14 | 15 Open: 2.2891 Close: 2.2919 Mid: 2.2904 | 16 Open: 2.2918 Close: 2.2903 Mid: 2.2911 | 17 Open: 2.2902 Close: 2.2887 Mid: 2.2895 | 18 Open: 2.2883 Close: 2.2857 Mid: 2.2868 | 19 Open: 2.2857 Close: 2.2831 Mid: 2.2844 | 20 |
21 | 22 Open: 2.2823 Close: 2.2642 Mid: 2.2729 | 23 Open: 2.2644 Close: 2.2704 Mid: 2.2674 | 24 Open: 2.2708 Close: 2.2763 Mid: 2.2735 | 25 Open: 2.2763 Close: 2.2811 Mid: 2.2788 | 26 Open: 2.2811 Close: 2.2817 Mid: 2.2812 | 27 |
28 | 29 Open: 2.2820 Close: 2.2886 Mid: 2.2853 | 30 Open: 2.2888 Close: 2.2883 Mid: 2.2885 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.2877 Close: 2.2877 Mid: 2.2877 | 2 Open: 2.2877 Close: 2.2860 Mid: 2.2868 | 3 Open: 2.2860 Close: 2.2850 Mid: 2.2855 | 4 | |||
5 | 6 Open: 2.2846 Close: 2.2826 Mid: 2.2836 | 7 Open: 2.2825 Close: 2.2771 Mid: 2.2798 | 8 Open: 2.2770 Close: 2.2736 Mid: 2.2752 | 9 Open: 2.2736 Close: 2.2705 Mid: 2.2718 | 10 Open: 2.2706 Close: 2.2740 Mid: 2.2723 | 11 |
12 | 13 Open: 2.2741 Close: 2.2746 Mid: 2.2743 | 14 Open: 2.2747 Close: 2.2742 Mid: 2.2747 | 15 Open: 2.2743 Close: 2.2790 Mid: 2.2766 | 16 Open: 2.2790 Close: 2.2797 Mid: 2.2794 | 17 Open: 2.2797 Close: 2.2828 Mid: 2.2813 | 18 |
19 | 20 Open: 2.2829 Close: 2.2857 Mid: 2.2843 | 21 Open: 2.2859 Close: 2.2887 Mid: 2.2873 | 22 Open: 2.2887 Close: 2.2970 Mid: 2.2929 | 23 Open: 2.2971 Close: 2.2955 Mid: 2.2966 | 24 Open: 2.2956 Close: 2.2957 Mid: 2.2956 | 25 |
26 | 27 Open: 2.2958 Close: 2.2976 Mid: 2.2967 | 28 Open: 2.2978 Close: 2.2975 Mid: 2.2976 | 29 Open: 2.2976 Close: 2.2991 Mid: 2.2984 | 30 Open: 2.2992 Close: 2.2989 Mid: 2.2991 | 31 Open: 2.2989 Close: 2.2929 Mid: 2.2958 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 2.2931 Close: 2.2959 Mid: 2.2945 | 4 Open: 2.2960 Close: 2.2963 Mid: 2.2958 | 5 Open: 2.2962 Close: 2.2989 Mid: 2.2974 | 6 Open: 2.2990 Close: 2.2979 Mid: 2.2987 | 7 Open: 2.2978 Close: 2.2988 Mid: 2.2979 | 8 |
9 | 10 Open: 2.2998 Close: 2.3130 Mid: 2.3064 | 11 Open: 2.3130 Close: 2.3206 Mid: 2.3168 | 12 Open: 2.3205 Close: 2.3201 Mid: 2.3203 | 13 Open: 2.3197 Close: 2.3172 Mid: 2.3176 | 14 Open: 2.3177 Close: 2.3214 Mid: 2.3202 | 15 |
16 | 17 Open: 2.3212 Close: 2.3142 Mid: 2.3174 | 18 Open: 2.3143 Close: 2.3153 Mid: 2.3150 | 19 Open: 2.3152 Close: 2.3158 Mid: 2.3155 | 20 Open: 2.3158 Close: 2.3135 Mid: 2.3146 | 21 Open: 2.3135 Close: 2.3133 Mid: 2.3131 | 22 |
23 | 24 Open: 2.3132 Close: 2.3081 Mid: 2.3105 | 25 Open: 2.3084 Close: 2.3158 Mid: 2.3121 | 26 Open: 2.3159 Close: 2.3150 Mid: 2.3156 | 27 Open: 2.3148 Close: 2.3108 Mid: 2.3128 | 28 Open: 2.3107 Close: 2.3100 Mid: 2.3106 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.3029 Close: 2.3063 Mid: 2.3046 | 2 Open: 2.3061 Close: 2.3082 Mid: 2.3069 | 3 Open: 2.3083 Close: 2.3091 Mid: 2.3087 | 4 Open: 2.3092 Close: 2.3095 Mid: 2.3098 | 5 Open: 2.3094 Close: 2.3116 Mid: 2.3100 | 6 | |
7 | 8 Open: 2.3118 Close: 2.3161 Mid: 2.3142 | 9 Open: 2.3141 Close: 2.3152 Mid: 2.3147 | 10 Open: 2.3150 Close: 2.3153 Mid: 2.3145 | 11 Open: 2.3157 Close: 2.3215 Mid: 2.3186 | 12 Open: 2.3216 Close: 2.3286 Mid: 2.3251 | 13 |
14 | 15 Open: 2.3286 Close: 2.3266 Mid: 2.3274 | 16 Open: 2.3267 Close: 2.3272 Mid: 2.3270 | 17 Open: 2.3272 Close: 2.3297 Mid: 2.3294 | 18 Open: 2.3295 Close: 2.3237 Mid: 2.3266 | 19 Open: 2.3237 Close: 2.3210 Mid: 2.3224 | 20 |
21 | 22 Open: 2.3210 Close: 2.3231 Mid: 2.3224 | 23 Open: 2.3231 Close: 2.3237 Mid: 2.3230 | 24 Open: 2.3239 Close: 2.3284 Mid: 2.3261 | 25 Open: 2.3285 Close: 2.3200 Mid: 2.3242 | 26 Open: 2.3198 Close: 2.3180 Mid: 2.3189 | 27 |
28 | 29 Open: 2.3180 Close: 2.3201 Mid: 2.3188 | 30 Open: 2.3204 Close: 2.3212 Mid: 2.3213 | 31 Open: 2.3212 Close: 2.3186 Mid: 2.3196 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.3189 Close: 2.3154 Mid: 2.3177 | 2 Open: 2.3149 Close: 2.2997 Mid: 2.3073 | 3 | ||||
4 | 5 Open: 2.2991 Close: 2.2782 Mid: 2.2886 | 6 Open: 2.2784 Close: 2.2749 Mid: 2.2776 | 7 Open: 2.2746 Close: 2.2774 Mid: 2.2762 | 8 Open: 2.2771 Close: 2.2772 Mid: 2.2745 | 9 Open: 2.2776 Close: 2.2843 Mid: 2.2809 | 10 |
11 | 12 Open: 2.2843 Close: 2.2845 Mid: 2.2844 | 13 Open: 2.2844 Close: 2.2893 Mid: 2.2869 | 14 Open: 2.2892 Close: 2.2787 Mid: 2.2840 | 15 Open: 2.2787 Close: 2.2848 Mid: 2.2817 | 16 Open: 2.2853 Close: 2.2966 Mid: 2.2910 | 17 |
18 | 19 Open: 2.2965 Close: 2.2942 Mid: 2.2953 | 20 Open: 2.2940 Close: 2.2948 Mid: 2.2942 | 21 Open: 2.2945 Close: 2.2937 Mid: 2.2933 | 22 Open: 2.2939 Close: 2.3037 Mid: 2.2988 | 23 Open: 2.3037 Close: 2.3091 Mid: 2.3065 | 24 |
25 | 26 Open: 2.3091 Close: 2.3102 Mid: 2.3096 | 27 Open: 2.3103 Close: 2.3160 Mid: 2.3131 | 28 Open: 2.3162 Close: 2.3236 Mid: 2.3200 | 29 Open: 2.3234 Close: 2.3255 Mid: 2.3240 | 30 Open: 2.3254 Close: 2.3250 Mid: 2.3253 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 2.3249 Close: 2.3221 Mid: 2.3233 | 3 Open: 2.3221 Close: 2.3246 Mid: 2.3235 | 4 Open: 2.3244 Close: 2.3214 Mid: 2.3229 | 5 Open: 2.3213 Close: 2.3194 Mid: 2.3203 | 6 Open: 2.3194 Close: 2.3196 Mid: 2.3197 | 7 |
8 | 9 Open: 2.3194 Close: 2.3181 Mid: 2.3188 | 10 Open: 2.3180 Close: 2.3204 Mid: 2.3187 | 11 Open: 2.3205 Close: 2.3161 Mid: 2.3184 | 12 Open: 2.3161 Close: 2.3167 Mid: 2.3164 | 13 Open: 2.3168 Close: 2.3153 Mid: 2.3166 | 14 |
15 | 16 Open: 2.3168 Close: 2.3186 Mid: 2.3177 | 17 Open: 2.3188 Close: 2.3194 Mid: 2.3199 | 18 Open: 2.3192 Close: 2.3223 Mid: 2.3193 | 19 Open: 2.3225 Close: 2.3281 Mid: 2.3253 | 20 Open: 2.3282 Close: 2.3288 Mid: 2.3285 | 21 |
22 | 23 Open: 2.3290 Close: 2.3413 Mid: 2.3352 | 24 Open: 2.3419 Close: 2.3483 Mid: 2.3455 | 25 Open: 2.3482 Close: 2.3388 Mid: 2.3430 | 26 Open: 2.3390 Close: 2.3466 Mid: 2.3428 | 27 Open: 2.3467 Close: 2.3454 Mid: 2.3461 | 28 |
29 | 30 Open: 2.3452 Close: 2.3439 Mid: 2.3441 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.3443 Close: 2.3492 Mid: 2.3473 | 2 Open: 2.3491 Close: 2.3476 Mid: 2.3481 | 3 Open: 2.3477 Close: 2.3241 Mid: 2.3357 | 4 Open: 2.3243 Close: 2.3355 Mid: 2.3299 | 5 | ||
6 | 7 Open: 2.3358 Close: 2.3307 Mid: 2.3336 | 8 Open: 2.3307 Close: 2.3324 Mid: 2.3316 | 9 Open: 2.3326 Close: 2.3354 Mid: 2.3340 | 10 Open: 2.3355 Close: 2.3386 Mid: 2.3374 | 11 Open: 2.3384 Close: 2.3364 Mid: 2.3373 | 12 |
13 | 14 Open: 2.3365 Close: 2.3385 Mid: 2.3375 | 15 Open: 2.3387 Close: 2.3469 Mid: 2.3428 | 16 Open: 2.3473 Close: 2.3382 Mid: 2.3425 | 17 Open: 2.3382 Close: 2.3429 Mid: 2.3405 | 18 Open: 2.3433 Close: 2.3509 Mid: 2.3479 | 19 |
20 | 21 Open: 2.3507 Close: 2.3480 Mid: 2.3493 | 22 Open: 2.3482 Close: 2.3444 Mid: 2.3463 | 23 Open: 2.3449 Close: 2.3535 Mid: 2.3494 | 24 Open: 2.3528 Close: 2.3500 Mid: 2.3514 | 25 Open: 2.3495 Close: 2.3466 Mid: 2.3478 | 26 |
27 | 28 Open: 2.3467 Close: 2.3473 Mid: 2.3472 | 29 Open: 2.3472 Close: 2.3515 Mid: 2.3488 | 30 Open: 2.3516 Close: 2.3405 Mid: 2.3461 | 31 Open: 2.3401 Close: 2.3325 Mid: 2.3363 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 2.3315 Close: 2.3266 Mid: 2.3285 | 2 | |||||
3 | 4 Open: 2.3270 Close: 2.3256 Mid: 2.3263 | 5 Open: 2.3259 Close: 2.3314 Mid: 2.3287 | 6 Open: 2.3315 Close: 2.3480 Mid: 2.3398 | 7 Open: 2.3479 Close: 2.3507 Mid: 2.3493 | 8 Open: 2.3508 Close: 2.3530 Mid: 2.3519 | 9 |
10 | 11 Open: 2.3533 Close: 2.3631 Mid: 2.3584 | 12 Open: 2.3630 Close: 2.3605 Mid: 2.3618 | 13 Open: 2.3596 Close: 2.3476 Mid: 2.3526 | 14 Open: 2.3480 Close: 2.3509 Mid: 2.3495 | 15 Open: 2.3509 Close: 2.3458 Mid: 2.3483 | 16 |
17 | 18 Open: 2.3456 Close: 2.3415 Mid: 2.3436 | 19 Open: 2.3414 Close: 2.3399 Mid: 2.3404 | 20 Open: 2.3400 Close: 2.3476 Mid: 2.3439 | 21 Open: 2.3476 Close: 2.3492 Mid: 2.3480 | 22 Open: 2.3493 Close: 2.3504 Mid: 2.3499 | 23 |
24 | 25 Open: 2.3505 Close: 2.3438 Mid: 2.3472 | 26 Open: 2.3437 Close: 2.3400 Mid: 2.3410 | 27 Open: 2.3403 Close: 2.3445 Mid: 2.3424 | 28 Open: 2.3447 Close: 2.3489 Mid: 2.3468 | 29 Open: 2.3491 Close: 2.3519 Mid: 2.3505 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 2.3522 Close: 2.3595 Mid: 2.3564 | 3 Open: 2.3594 Close: 2.3549 Mid: 2.3565 | 4 Open: 2.3552 Close: 2.3615 Mid: 2.3586 | 5 Open: 2.3617 Close: 2.3616 Mid: 2.3622 | 6 Open: 2.3613 Close: 2.3593 Mid: 2.3603 | 7 |
8 | 9 Open: 2.3595 Close: 2.3635 Mid: 2.3616 | 10 Open: 2.3635 Close: 2.3701 Mid: 2.3664 | 11 Open: 2.3703 Close: 2.3732 Mid: 2.3718 | 12 Open: 2.3734 Close: 2.3712 Mid: 2.3731 | 13 Open: 2.3710 Close: 2.3562 Mid: 2.3636 | 14 |
15 | 16 Open: 2.3557 Close: 2.3577 Mid: 2.3564 | 17 Open: 2.3579 Close: 2.3675 Mid: 2.3627 | 18 Open: 2.3677 Close: 2.3705 Mid: 2.3685 | 19 Open: 2.3708 Close: 2.3668 Mid: 2.3691 | 20 Open: 2.3663 Close: 2.3534 Mid: 2.3598 | 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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