Best British Pound / Danish Krone Exchange Rate Today: 8.9880
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 8.9610, and the most competitive travel money / cash rates start at approximately 8.9071.
Live rate: 1 GBP = 8.9880 DKK (-0.12% )
Inverted: 1 DKK = 0.1113 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 | 8.9880 | 0 | 8.8981 | |||
 | 8.9610 (indicative) | 0 | 8.9610 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 8.9251 (indicative) | 0 | 8.9251 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 8.9880 | 0.42% | 8.9503 | 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. | |
 | 8.9071 | 0 | 8.9071 | 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. | |
 | 8.7482 | 0 | 8.7482 | 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. | |
 | 8.3952 | 0 | 8.3952 | 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  | 8.7363 (upper range) | Variable | 8.7363 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 8.6734 (lower range) | Variable | 8.6734 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 8.5835 | 0 | 8.5835 | International Payments and Transfers |
GBP/DKK Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.5980 Close: 8.5980 Mid: 8.5980 | 2 Open: 8.5980 Close: 8.5990 Mid: 8.6045 | 3 Open: 8.5990 Close: 8.6490 Mid: 8.6240 | 4 Open: 8.6480 Close: 8.6390 Mid: 8.6475 | 5 Open: 8.6420 Close: 8.6690 Mid: 8.6550 | 6 | |
7 | 8 Open: 8.6670 Close: 8.6830 Mid: 8.6675 | 9 Open: 8.6820 Close: 8.6720 Mid: 8.6745 | 10 Open: 8.6710 Close: 8.6600 Mid: 8.6640 | 11 Open: 8.6600 Close: 8.6730 Mid: 8.6650 | 12 Open: 8.6730 Close: 8.6840 Mid: 8.6750 | 13 |
14 | 15 Open: 8.6760 Close: 8.6700 Mid: 8.6730 | 16 Open: 8.6690 Close: 8.6650 Mid: 8.6670 | 17 Open: 8.6660 Close: 8.6900 Mid: 8.6795 | 18 Open: 8.6870 Close: 8.7110 Mid: 8.6980 | 19 Open: 8.7100 Close: 8.6940 Mid: 8.6965 | 20 |
21 | 22 Open: 8.6900 Close: 8.7100 Mid: 8.7025 | 23 Open: 8.7100 Close: 8.7170 Mid: 8.7165 | 24 Open: 8.7160 Close: 8.7170 Mid: 8.7220 | 25 Open: 8.7170 Close: 8.7350 Mid: 8.7275 | 26 Open: 8.7340 Close: 8.7260 Mid: 8.7325 | 27 |
28 | 29 Open: 8.7280 Close: 8.7450 Mid: 8.7400 | 30 Open: 8.7450 Close: 8.7290 Mid: 8.7255 | 31 Open: 8.7290 Close: 8.7420 Mid: 8.7340 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.7430 Close: 8.7380 Mid: 8.7295 | 2 Open: 8.7380 Close: 8.7290 Mid: 8.7340 | 3 | ||||
4 | 5 Open: 8.7330 Close: 8.7050 Mid: 8.7210 | 6 Open: 8.7030 Close: 8.7390 Mid: 8.7210 | 7 Open: 8.7390 Close: 8.7410 Mid: 8.7455 | 8 Open: 8.7410 Close: 8.7280 Mid: 8.7340 | 9 Open: 8.7270 Close: 8.7300 Mid: 8.7285 | 10 |
11 | 12 Open: 8.7330 Close: 8.7380 Mid: 8.7315 | 13 Open: 8.7380 Close: 8.7640 Mid: 8.7515 | 14 Open: 8.7650 Close: 8.7320 Mid: 8.7460 | 15 Open: 8.7320 Close: 8.7190 Mid: 8.7155 | 16 Open: 8.7200 Close: 8.7160 Mid: 8.7170 | 17 |
18 | 19 Open: 8.7190 Close: 8.7100 Mid: 8.7195 | 20 Open: 8.7100 Close: 8.7060 Mid: 8.7060 | 21 Open: 8.7060 Close: 8.7070 Mid: 8.7040 | 22 Open: 8.7070 Close: 8.7200 Mid: 8.7085 | 23 Open: 8.7200 Close: 8.7290 Mid: 8.7285 | 24 |
25 | 26 Open: 8.7260 Close: 8.7140 Mid: 8.7215 | 27 Open: 8.7140 Close: 8.7190 Mid: 8.7110 | 28 Open: 8.7190 Close: 8.7070 Mid: 8.7120 | 29 Open: 8.7080 Close: 8.7090 Mid: 8.7075 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.7090 Close: 8.7020 Mid: 8.7025 | 2 | |||||
3 | 4 Open: 8.7030 Close: 8.7140 Mid: 8.7090 | 5 Open: 8.7140 Close: 8.7220 Mid: 8.7195 | 6 Open: 8.7220 Close: 8.7080 Mid: 8.7160 | 7 Open: 8.7080 Close: 8.7200 Mid: 8.7260 | 8 Open: 8.7200 Close: 8.7620 Mid: 8.7420 | 9 |
10 | 11 Open: 8.7600 Close: 8.7440 Mid: 8.7485 | 12 Open: 8.7440 Close: 8.7300 Mid: 8.7320 | 13 Open: 8.7300 Close: 8.7160 Mid: 8.7220 | 14 Open: 8.7160 Close: 8.7370 Mid: 8.7250 | 15 Open: 8.7370 Close: 8.7210 Mid: 8.7285 | 16 |
17 | 18 Open: 8.7290 Close: 8.7300 Mid: 8.7205 | 19 Open: 8.7300 Close: 8.7310 Mid: 8.7275 | 20 Open: 8.7310 Close: 8.7300 Mid: 8.7260 | 21 Open: 8.7300 Close: 8.6930 Mid: 8.7160 | 22 Open: 8.6930 Close: 8.6950 Mid: 8.6875 | 23 |
24 | 25 Open: 8.6910 Close: 8.6960 Mid: 8.6975 | 26 Open: 8.6960 Close: 8.6960 Mid: 8.6925 | 27 Open: 8.6960 Close: 8.7050 Mid: 8.6980 | 28 Open: 8.7050 Close: 8.7280 Mid: 8.7150 | 29 Open: 8.7280 Close: 8.7260 Mid: 8.7320 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.7290 Close: 8.7140 Mid: 8.7225 | 2 Open: 8.7140 Close: 8.7100 Mid: 8.7150 | 3 Open: 8.7100 Close: 8.7090 Mid: 8.7035 | 4 Open: 8.7090 Close: 8.7020 Mid: 8.7025 | 5 Open: 8.7020 Close: 8.6980 Mid: 8.6945 | 6 | |
7 | 8 Open: 8.6890 Close: 8.6920 Mid: 8.6940 | 9 Open: 8.6920 Close: 8.7100 Mid: 8.7015 | 10 Open: 8.7100 Close: 8.7080 Mid: 8.7150 | 11 Open: 8.7080 Close: 8.7300 Mid: 8.7180 | 12 Open: 8.7300 Close: 8.7290 Mid: 8.7360 | 13 |
14 | 15 Open: 8.7310 Close: 8.7390 Mid: 8.7360 | 16 Open: 8.7390 Close: 8.7320 Mid: 8.7375 | 17 Open: 8.7320 Close: 8.7060 Mid: 8.7300 | 18 Open: 8.7060 Close: 8.7180 Mid: 8.7155 | 19 Open: 8.7180 Close: 8.6610 Mid: 8.6910 | 20 |
21 | 22 Open: 8.6640 Close: 8.6490 Mid: 8.6495 | 23 Open: 8.6490 Close: 8.6770 Mid: 8.6550 | 24 Open: 8.6770 Close: 8.6890 Mid: 8.6805 | 25 Open: 8.6890 Close: 8.6970 Mid: 8.6950 | 26 Open: 8.6970 Close: 8.7140 Mid: 8.7015 | 27 |
28 | 29 Open: 8.7050 Close: 8.7400 Mid: 8.7215 | 30 Open: 8.7400 Close: 8.7350 Mid: 8.7305 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.7350 Close: 8.7230 Mid: 8.7260 | 2 Open: 8.7230 Close: 8.7160 Mid: 8.7185 | 3 Open: 8.7160 Close: 8.6950 Mid: 8.7050 | 4 | |||
5 | 6 Open: 8.6980 Close: 8.7010 Mid: 8.7040 | 7 Open: 8.7010 Close: 8.6750 Mid: 8.6890 | 8 Open: 8.6750 Close: 8.6720 Mid: 8.6670 | 9 Open: 8.6720 Close: 8.6650 Mid: 8.6675 | 10 Open: 8.6650 Close: 8.6760 Mid: 8.6705 | 11 |
12 | 13 Open: 8.6730 Close: 8.6840 Mid: 8.6755 | 14 Open: 8.6840 Close: 8.6830 Mid: 8.6740 | 15 Open: 8.6830 Close: 8.6960 Mid: 8.6880 | 16 Open: 8.6960 Close: 8.6980 Mid: 8.6945 | 17 Open: 8.6980 Close: 8.7190 Mid: 8.7085 | 18 |
19 | 20 Open: 8.7150 Close: 8.7320 Mid: 8.7210 | 21 Open: 8.7320 Close: 8.7370 Mid: 8.7350 | 22 Open: 8.7370 Close: 8.7680 Mid: 8.7540 | 23 Open: 8.7680 Close: 8.7610 Mid: 8.7640 | 24 Open: 8.7610 Close: 8.7630 Mid: 8.7555 | 25 |
26 | 27 Open: 8.7570 Close: 8.7750 Mid: 8.7695 | 28 Open: 8.7750 Close: 8.7700 Mid: 8.7710 | 29 Open: 8.7700 Close: 8.7720 Mid: 8.7770 | 30 Open: 8.7720 Close: 8.7670 Mid: 8.7660 | 31 Open: 8.7670 Close: 8.7610 Mid: 8.7535 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 8.7550 Close: 8.7600 Mid: 8.7520 | 4 Open: 8.7600 Close: 8.7560 Mid: 8.7595 | 5 Open: 8.7560 Close: 8.7750 Mid: 8.7655 | 6 Open: 8.7750 Close: 8.7630 Mid: 8.7635 | 7 Open: 8.7630 Close: 8.7840 Mid: 8.7720 | 8 |
9 | 10 Open: 8.7940 Close: 8.8210 Mid: 8.8115 | 11 Open: 8.8210 Close: 8.8480 Mid: 8.8345 | 12 Open: 8.8480 Close: 8.8320 Mid: 8.8425 | 13 Open: 8.8320 Close: 8.8670 Mid: 8.8440 | 14 Open: 8.8670 Close: 8.8430 Mid: 8.8620 | 15 |
16 | 17 Open: 8.8450 Close: 8.8290 Mid: 8.8310 | 18 Open: 8.8290 Close: 8.8270 Mid: 8.8235 | 19 Open: 8.8270 Close: 8.8310 Mid: 8.8360 | 20 Open: 8.8310 Close: 8.8210 Mid: 8.8290 | 21 Open: 8.8210 Close: 8.8210 Mid: 8.8225 | 22 |
23 | 24 Open: 8.8210 Close: 8.8150 Mid: 8.8130 | 25 Open: 8.8150 Close: 8.8320 Mid: 8.8295 | 26 Open: 8.8320 Close: 8.8140 Mid: 8.8290 | 27 Open: 8.8150 Close: 8.8080 Mid: 8.8115 | 28 Open: 8.8080 Close: 8.8020 Mid: 8.8050 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.7810 Close: 8.7850 Mid: 8.7890 | 2 Open: 8.7850 Close: 8.8060 Mid: 8.7945 | 3 Open: 8.8060 Close: 8.8100 Mid: 8.8075 | 4 Open: 8.8090 Close: 8.8020 Mid: 8.8090 | 5 Open: 8.8020 Close: 8.8180 Mid: 8.8120 | 6 | |
7 | 8 Open: 8.8300 Close: 8.8260 Mid: 8.8270 | 9 Open: 8.8250 Close: 8.8210 Mid: 8.8265 | 10 Open: 8.8210 Close: 8.8500 Mid: 8.8360 | 11 Open: 8.8500 Close: 8.8650 Mid: 8.8575 | 12 Open: 8.8650 Close: 8.8850 Mid: 8.8745 | 13 |
14 | 15 Open: 8.8880 Close: 8.8810 Mid: 8.8820 | 16 Open: 8.8810 Close: 8.8790 Mid: 8.8775 | 17 Open: 8.8790 Close: 8.8710 Mid: 8.8835 | 18 Open: 8.8710 Close: 8.8630 Mid: 8.8680 | 19 Open: 8.8630 Close: 8.8540 Mid: 8.8580 | 20 |
21 | 22 Open: 8.8530 Close: 8.8610 Mid: 8.8585 | 23 Open: 8.8610 Close: 8.8740 Mid: 8.8700 | 24 Open: 8.8740 Close: 8.8850 Mid: 8.8775 | 25 Open: 8.8850 Close: 8.8430 Mid: 8.8655 | 26 Open: 8.8430 Close: 8.8460 Mid: 8.8430 | 27 |
28 | 29 Open: 8.8360 Close: 8.8690 Mid: 8.8455 | 30 Open: 8.8690 Close: 8.8570 Mid: 8.8620 | 31 Open: 8.8570 Close: 8.8620 Mid: 8.8495 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.8620 Close: 8.8080 Mid: 8.8350 | 2 Open: 8.8080 Close: 8.7570 Mid: 8.7775 | 3 | ||||
4 | 5 Open: 8.7470 Close: 8.7050 Mid: 8.7055 | 6 Open: 8.7050 Close: 8.6630 Mid: 8.6880 | 7 Open: 8.6630 Close: 8.6720 Mid: 8.6815 | 8 Open: 8.6720 Close: 8.7120 Mid: 8.6855 | 9 Open: 8.7120 Close: 8.7220 Mid: 8.7135 | 10 |
11 | 12 Open: 8.7300 Close: 8.7150 Mid: 8.7225 | 13 Open: 8.7150 Close: 8.7310 Mid: 8.7300 | 14 Open: 8.7310 Close: 8.6910 Mid: 8.7110 | 15 Open: 8.6910 Close: 8.7410 Mid: 8.7160 | 16 Open: 8.7410 Close: 8.7580 Mid: 8.7535 | 17 |
18 | 19 Open: 8.7470 Close: 8.7440 Mid: 8.7535 | 20 Open: 8.7440 Close: 8.7390 Mid: 8.7505 | 21 Open: 8.7390 Close: 8.7610 Mid: 8.7515 | 22 Open: 8.7620 Close: 8.7910 Mid: 8.7790 | 23 Open: 8.7900 Close: 8.8100 Mid: 8.8065 | 24 |
25 | 26 Open: 8.8070 Close: 8.8150 Mid: 8.8165 | 27 Open: 8.8150 Close: 8.8460 Mid: 8.8290 | 28 Open: 8.8450 Close: 8.8480 Mid: 8.8555 | 29 Open: 8.8480 Close: 8.8670 Mid: 8.8610 | 30 Open: 8.8670 Close: 8.8630 Mid: 8.8645 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 8.8660 Close: 8.8560 Mid: 8.8570 | 3 Open: 8.8560 Close: 8.8590 Mid: 8.8590 | 4 Open: 8.8590 Close: 8.8510 Mid: 8.8540 | 5 Open: 8.8510 Close: 8.8520 Mid: 8.8525 | 6 Open: 8.8510 Close: 8.8390 Mid: 8.8525 | 7 |
8 | 9 Open: 8.8350 Close: 8.8400 Mid: 8.8410 | 10 Open: 8.8400 Close: 8.8580 Mid: 8.8455 | 11 Open: 8.8580 Close: 8.8390 Mid: 8.8385 | 12 Open: 8.8390 Close: 8.8440 Mid: 8.8370 | 13 Open: 8.8440 Close: 8.8420 Mid: 8.8415 | 14 |
15 | 16 Open: 8.8400 Close: 8.8590 Mid: 8.8495 | 17 Open: 8.8580 Close: 8.8360 Mid: 8.8450 | 18 Open: 8.8360 Close: 8.8650 Mid: 8.8525 | 19 Open: 8.8650 Close: 8.8770 Mid: 8.8725 | 20 Open: 8.8770 Close: 8.9020 Mid: 8.8875 | 21 |
22 | 23 Open: 8.8980 Close: 8.9600 Mid: 8.9275 | 24 Open: 8.9600 Close: 8.9470 Mid: 8.9540 | 25 Open: 8.9470 Close: 8.9260 Mid: 8.9275 | 26 Open: 8.9260 Close: 8.9500 Mid: 8.9385 | 27 Open: 8.9500 Close: 8.9320 Mid: 8.9450 | 28 |
29 | 30 Open: 8.9350 Close: 8.9540 Mid: 8.9430 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.9540 Close: 8.9530 Mid: 8.9550 | 2 Open: 8.9530 Close: 8.9590 Mid: 8.9545 | 3 Open: 8.9590 Close: 8.8750 Mid: 8.9025 | 4 Open: 8.8750 Close: 8.9120 Mid: 8.8995 | 5 | ||
6 | 7 Open: 8.9120 Close: 8.8880 Mid: 8.9000 | 8 Open: 8.8880 Close: 8.9000 Mid: 8.8895 | 9 Open: 8.9000 Close: 8.9120 Mid: 8.9025 | 10 Open: 8.9120 Close: 8.9090 Mid: 8.9120 | 11 Open: 8.9090 Close: 8.9130 Mid: 8.9095 | 12 |
13 | 14 Open: 8.9200 Close: 8.9320 Mid: 8.9235 | 15 Open: 8.9320 Close: 8.9570 Mid: 8.9465 | 16 Open: 8.9560 Close: 8.9220 Mid: 8.9315 | 17 Open: 8.9220 Close: 8.9600 Mid: 8.9405 | 18 Open: 8.9600 Close: 8.9580 Mid: 8.9690 | 19 |
20 | 21 Open: 8.9590 Close: 8.9530 Mid: 8.9525 | 22 Open: 8.9530 Close: 8.9670 Mid: 8.9520 | 23 Open: 8.9670 Close: 8.9390 Mid: 8.9605 | 24 Open: 8.9390 Close: 8.9400 Mid: 8.9505 | 25 Open: 8.9400 Close: 8.9580 Mid: 8.9475 | 26 |
27 | 28 Open: 8.9610 Close: 8.9470 Mid: 8.9535 | 29 Open: 8.9470 Close: 8.9760 Mid: 8.9650 | 30 Open: 8.9760 Close: 8.9070 Mid: 8.9415 | 31 Open: 8.9070 Close: 8.8400 Mid: 8.8800 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 8.8400 Close: 8.8960 Mid: 8.8720 | 2 | |||||
3 | 4 Open: 8.8900 Close: 8.8830 Mid: 8.8770 | 5 Open: 8.8830 Close: 8.8990 Mid: 8.8915 | 6 Open: 8.8990 Close: 8.9530 Mid: 8.9305 | 7 Open: 8.9530 Close: 8.9660 Mid: 8.9600 | 8 Open: 8.9660 Close: 8.9880 Mid: 8.9755 | 9 |
10 | 11 Open: 8.9880 Close: 9.0070 Mid: 9.0050 | 12 Open: 9.0070 Close: 8.9510 Mid: 8.9810 | 13 Open: 8.9510 Close: 8.9730 Mid: 8.9595 | 14 Open: 8.9730 Close: 8.9720 Mid: 8.9705 | 15 Open: 8.9720 Close: 8.9320 Mid: 8.9490 | 16 |
17 | 18 Open: 8.9460 Close: 8.9230 Mid: 8.9275 | 19 Open: 8.9230 Close: 8.9280 Mid: 8.9290 | 20 Open: 8.9280 Close: 8.9520 Mid: 8.9485 | 21 Open: 8.9520 Close: 8.9640 Mid: 8.9550 | 22 Open: 8.9640 Close: 8.9690 Mid: 8.9780 | 23 |
24 | 25 Open: 8.9550 Close: 8.9320 Mid: 8.9475 | 26 Open: 8.9320 Close: 8.9380 Mid: 8.9350 | 27 Open: 8.9380 Close: 8.9500 Mid: 8.9390 | 28 Open: 8.9500 Close: 8.9640 Mid: 8.9570 | 29 Open: 8.9640 Close: 8.9800 Mid: 8.9685 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 8.9790 Close: 8.9910 Mid: 8.9985 | 3 Open: 8.9910 Close: 8.9930 Mid: 8.9865 | 4 Open: 8.9940 Close: 9.0120 Mid: 9.0015 | 5 Open: 9.0120 Close: 8.9890 Mid: 9.0000 | 6 Open: 8.9890 Close: 8.9910 Mid: 8.9970 | 7 |
8 | 9 Open: 8.9930 Close: 9.0100 Mid: 9.0055 | 10 Open: 9.0100 Close: 9.0470 Mid: 9.0270 | 11 Open: 9.0470 Close: 9.0590 Mid: 9.0520 | 12 Open: 9.0590 Close: 9.0290 Mid: 9.0400 | 13 Open: 9.0290 Close: 8.9600 Mid: 8.9960 | 14 |
15 | 16 Open: 8.9660 Close: 9.0000 Mid: 8.9865 | 17 Open: 9.0000 Close: 9.0380 Mid: 9.0175 | 18 Open: 9.0380 Close: 9.0630 Mid: 9.0390 | 19 Open: 9.0630 Close: 8.9990 Mid: 9.0340 | 20 Open: 8.9990 Close: 8.9880 Mid: 8.9960 | 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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