Best British Pound / Mexican Peso Exchange Rate Today: 25.2300
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 25.1543, and the most competitive travel money / cash rates start at approximately 24.3483.
Live rate: 1 GBP = 25.2300 MXN (-0.66% )
Inverted: 1 MXN = 0.0396 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 | 25.2300 | 0 | 24.9777 | |||
 | 25.1543 (indicative) | 0 | 25.1543 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 25.0534 (indicative) | 0 | 25.0534 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 25.2300 | 0.67% | 25.0610 | 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. | |
 | 24.3483 | 0 | 24.3483 | 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. | |
 | 24.2072 | 0 | 24.2072 | 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. | |
 | 23.0165 | 0 | 23.0165 | 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  | 24.5236 (upper range) | Variable | 24.5236 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 24.3470 (lower range) | Variable | 24.3470 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 24.0947 | 0 | 24.0947 | International Payments and Transfers |
GBP/MXN Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 21.6080 Close: 21.6070 Mid: 21.6075 | 2 Open: 21.6070 Close: 21.4840 Mid: 21.5340 | 3 Open: 21.4830 Close: 21.5460 Mid: 21.5355 | 4 Open: 21.5500 Close: 21.5810 Mid: 21.6080 | 5 Open: 21.5810 Close: 21.4690 Mid: 21.5290 | 6 | |
7 | 8 Open: 21.4490 Close: 21.4750 Mid: 21.4445 | 9 Open: 21.4650 Close: 21.5660 Mid: 21.4980 | 10 Open: 21.5680 Close: 21.6260 Mid: 21.6090 | 11 Open: 21.6270 Close: 21.5860 Mid: 21.6485 | 12 Open: 21.5860 Close: 21.5090 Mid: 21.5315 | 13 |
14 | 15 Open: 21.5000 Close: 21.4960 Mid: 21.4895 | 16 Open: 21.4880 Close: 21.7540 Mid: 21.6130 | 17 Open: 21.7580 Close: 21.8050 Mid: 21.8625 | 18 Open: 21.8000 Close: 21.8210 Mid: 21.8060 | 19 Open: 21.8150 Close: 21.7030 Mid: 21.7540 | 20 |
21 | 22 Open: 21.7700 Close: 21.8410 Mid: 21.7715 | 23 Open: 21.8390 Close: 21.9580 Mid: 21.9130 | 24 Open: 21.9560 Close: 21.9200 Mid: 21.9155 | 25 Open: 21.9230 Close: 21.8640 Mid: 21.9030 | 26 Open: 21.8590 Close: 21.7940 Mid: 21.8380 | 27 |
28 | 29 Open: 21.7960 Close: 21.8900 Mid: 21.8310 | 30 Open: 21.8920 Close: 21.7830 Mid: 21.8265 | 31 Open: 21.7840 Close: 21.8500 Mid: 21.8080 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 21.8420 Close: 21.7660 Mid: 21.7790 | 2 Open: 21.7690 Close: 21.6560 Mid: 21.7090 | 3 | ||||
4 | 5 Open: 21.6320 Close: 21.4620 Mid: 21.5570 | 6 Open: 21.4510 Close: 21.4660 Mid: 21.4585 | 7 Open: 21.4630 Close: 21.5280 Mid: 21.5145 | 8 Open: 21.5290 Close: 21.6370 Mid: 21.5745 | 9 Open: 21.6350 Close: 21.5790 Mid: 21.6190 | 10 |
11 | 12 Open: 21.6250 Close: 21.5590 Mid: 21.5605 | 13 Open: 21.5560 Close: 21.6530 Mid: 21.6245 | 14 Open: 21.6580 Close: 21.4690 Mid: 21.5575 | 15 Open: 21.4700 Close: 21.4730 Mid: 21.4530 | 16 Open: 21.4750 Close: 21.4880 Mid: 21.4730 | 17 |
18 | 19 Open: 21.5070 Close: 21.4560 Mid: 21.4905 | 20 Open: 21.4570 Close: 21.5310 Mid: 21.5055 | 21 Open: 21.5360 Close: 21.5350 Mid: 21.5295 | 22 Open: 21.5370 Close: 21.6590 Mid: 21.6090 | 23 Open: 21.6580 Close: 21.6920 Mid: 21.6975 | 24 |
25 | 26 Open: 21.6830 Close: 21.6880 Mid: 21.6990 | 27 Open: 21.6910 Close: 21.6490 Mid: 21.6515 | 28 Open: 21.6460 Close: 21.6420 Mid: 21.6220 | 29 Open: 21.6440 Close: 21.5310 Mid: 21.5840 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 21.5300 Close: 21.5290 Mid: 21.5135 | 2 | |||||
3 | 4 Open: 21.5450 Close: 21.5180 Mid: 21.5495 | 5 Open: 21.5180 Close: 21.5320 Mid: 21.5260 | 6 Open: 21.5330 Close: 21.4900 Mid: 21.4930 | 7 Open: 21.4910 Close: 21.6160 Mid: 21.5495 | 8 Open: 21.6150 Close: 21.6160 Mid: 21.6450 | 9 |
10 | 11 Open: 21.5950 Close: 21.5220 Mid: 21.5560 | 12 Open: 21.5220 Close: 21.4910 Mid: 21.4980 | 13 Open: 21.4910 Close: 21.3280 Mid: 21.4085 | 14 Open: 21.3280 Close: 21.3000 Mid: 21.3235 | 15 Open: 21.3000 Close: 21.2860 Mid: 21.2850 | 16 |
17 | 18 Open: 21.2590 Close: 21.4240 Mid: 21.3600 | 19 Open: 21.4240 Close: 21.3790 Mid: 21.4430 | 20 Open: 21.3790 Close: 21.3290 Mid: 21.3195 | 21 Open: 21.3280 Close: 21.1890 Mid: 21.2665 | 22 Open: 21.1890 Close: 21.1220 Mid: 21.1305 | 23 |
24 | 25 Open: 21.0890 Close: 21.0710 Mid: 21.1185 | 26 Open: 21.0710 Close: 21.0170 Mid: 21.0755 | 27 Open: 21.0160 Close: 20.9120 Mid: 20.9490 | 28 Open: 20.9110 Close: 20.9860 Mid: 20.9565 | 29 Open: 20.9870 Close: 20.9160 Mid: 20.9405 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 20.9660 Close: 20.8520 Mid: 20.9090 | 2 Open: 20.8530 Close: 20.8210 Mid: 20.8610 | 3 Open: 20.8220 Close: 20.9260 Mid: 20.8745 | 4 Open: 20.9270 Close: 20.9710 Mid: 20.9470 | 5 Open: 20.9710 Close: 20.7940 Mid: 20.8535 | 6 | |
7 | 8 Open: 20.7890 Close: 20.6510 Mid: 20.7260 | 9 Open: 20.6510 Close: 20.7750 Mid: 20.7000 | 10 Open: 20.7760 Close: 20.6180 Mid: 20.6875 | 11 Open: 20.6180 Close: 20.6380 Mid: 20.6355 | 12 Open: 20.6380 Close: 20.7180 Mid: 20.6950 | 13 |
14 | 15 Open: 20.7560 Close: 20.8080 Mid: 20.7400 | 16 Open: 20.8080 Close: 21.2130 Mid: 21.0250 | 17 Open: 21.2130 Close: 21.1290 Mid: 21.1465 | 18 Open: 21.1280 Close: 21.2280 Mid: 21.2550 | 19 Open: 21.2280 Close: 21.1490 Mid: 21.6830 | 20 |
21 | 22 Open: 21.1320 Close: 21.1660 Mid: 21.1110 | 23 Open: 21.1660 Close: 21.1110 Mid: 21.1855 | 24 Open: 21.1120 Close: 21.2790 Mid: 21.1740 | 25 Open: 21.2790 Close: 21.5290 Mid: 21.4665 | 26 Open: 21.5290 Close: 21.4420 Mid: 21.5030 | 27 |
28 | 29 Open: 21.4220 Close: 21.3650 Mid: 21.4750 | 30 Open: 21.3650 Close: 21.4090 Mid: 21.3480 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 21.4100 Close: 21.2930 Mid: 21.3275 | 2 Open: 21.2920 Close: 21.2850 Mid: 21.2170 | 3 Open: 21.2860 Close: 21.2960 Mid: 21.2955 | 4 | |||
5 | 6 Open: 21.3500 Close: 21.2060 Mid: 21.2715 | 7 Open: 21.2060 Close: 21.1420 Mid: 21.1810 | 8 Open: 21.1410 Close: 21.1210 Mid: 21.1285 | 9 Open: 21.1220 Close: 21.0190 Mid: 21.0980 | 10 Open: 21.0190 Close: 21.0170 Mid: 21.0125 | 11 |
12 | 13 Open: 21.0240 Close: 21.1060 Mid: 21.0550 | 14 Open: 21.1060 Close: 21.2200 Mid: 21.1170 | 15 Open: 21.2200 Close: 21.1670 Mid: 21.2110 | 16 Open: 21.1670 Close: 21.1440 Mid: 21.1625 | 17 Open: 21.1450 Close: 21.0950 Mid: 21.1125 | 18 |
19 | 20 Open: 21.0980 Close: 21.0410 Mid: 21.0805 | 21 Open: 21.0400 Close: 21.1510 Mid: 21.0970 | 22 Open: 21.1510 Close: 21.1870 Mid: 21.1765 | 23 Open: 21.1870 Close: 21.2330 Mid: 21.2245 | 24 Open: 21.2330 Close: 21.2640 Mid: 21.2565 | 25 |
26 | 27 Open: 21.2640 Close: 21.2800 Mid: 21.2645 | 28 Open: 21.2810 Close: 21.4370 Mid: 21.3705 | 29 Open: 21.4370 Close: 21.5760 Mid: 21.4720 | 30 Open: 21.5750 Close: 21.6700 Mid: 21.6355 | 31 Open: 21.6700 Close: 21.6770 Mid: 21.6450 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 21.6150 Close: 22.6510 Mid: 22.1340 | 4 Open: 22.6520 Close: 22.8080 Mid: 22.8350 | 5 Open: 22.8080 Close: 22.4010 Mid: 22.5695 | 6 Open: 22.4020 Close: 23.0080 Mid: 22.6675 | 7 Open: 23.0070 Close: 23.3960 Mid: 23.0960 | 8 |
9 | 10 Open: 23.3460 Close: 23.2140 Mid: 23.4510 | 11 Open: 23.2150 Close: 23.6660 Mid: 23.4450 | 12 Open: 23.6640 Close: 23.9900 Mid: 23.9820 | 13 Open: 23.9910 Close: 23.4670 Mid: 23.7740 | 14 Open: 23.4660 Close: 23.4240 Mid: 23.5275 | 15 |
16 | 17 Open: 23.4870 Close: 23.5450 Mid: 23.4930 | 18 Open: 23.5440 Close: 23.4010 Mid: 23.3895 | 19 Open: 23.4000 Close: 23.4430 Mid: 23.4460 | 20 Open: 23.4420 Close: 23.2520 Mid: 23.3115 | 21 Open: 23.2520 Close: 22.9010 Mid: 23.0730 | 22 |
23 | 24 Open: 22.9350 Close: 22.7740 Mid: 22.8065 | 25 Open: 22.7750 Close: 22.9620 Mid: 22.8815 | 26 Open: 22.9610 Close: 23.1420 Mid: 23.0590 | 27 Open: 23.1430 Close: 23.3070 Mid: 23.2330 | 28 Open: 23.3070 Close: 23.1690 Mid: 23.2450 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 23.1510 Close: 23.2360 Mid: 23.2295 | 2 Open: 23.2350 Close: 23.1660 Mid: 23.2125 | 3 Open: 23.1650 Close: 23.1670 Mid: 23.1640 | 4 Open: 23.1660 Close: 23.0910 Mid: 23.1220 | 5 Open: 23.0910 Close: 23.2000 Mid: 23.1645 | 6 | |
7 | 8 Open: 23.1620 Close: 23.0640 Mid: 23.1095 | 9 Open: 23.0660 Close: 22.9070 Mid: 23.0075 | 10 Open: 22.9080 Close: 22.9190 Mid: 22.8410 | 11 Open: 22.9180 Close: 22.9530 Mid: 22.9990 | 12 Open: 22.9540 Close: 22.8860 Mid: 22.9405 | 13 |
14 | 15 Open: 22.8990 Close: 23.0190 Mid: 23.0485 | 16 Open: 23.0200 Close: 22.9220 Mid: 22.9745 | 17 Open: 22.9210 Close: 23.0280 Mid: 23.0575 | 18 Open: 23.0290 Close: 23.2540 Mid: 23.1915 | 19 Open: 23.2550 Close: 23.3010 Mid: 23.2050 | 20 |
21 | 22 Open: 23.2610 Close: 23.2100 Mid: 23.2615 | 23 Open: 23.2090 Close: 23.4220 Mid: 23.3060 | 24 Open: 23.4220 Close: 23.7010 Mid: 23.6145 | 25 Open: 23.7020 Close: 23.7140 Mid: 23.7505 | 26 Open: 23.7140 Close: 23.7550 Mid: 23.6755 | 27 |
28 | 29 Open: 23.6840 Close: 23.9630 Mid: 23.8580 | 30 Open: 23.9620 Close: 24.0830 Mid: 24.0190 | 31 Open: 24.0830 Close: 23.9310 Mid: 24.0205 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 23.9320 Close: 24.0250 Mid: 23.8280 | 2 Open: 24.0260 Close: 24.5570 Mid: 24.2990 | 3 | ||||
4 | 5 Open: 24.4770 Close: 24.7430 Mid: 25.1515 | 6 Open: 24.7420 Close: 24.8550 Mid: 24.6780 | 7 Open: 24.8560 Close: 24.4810 Mid: 24.5980 | 8 Open: 24.4800 Close: 24.0600 Mid: 24.3060 | 9 Open: 24.0590 Close: 24.0260 Mid: 24.0255 | 10 |
11 | 12 Open: 24.0410 Close: 24.3420 Mid: 24.1855 | 13 Open: 24.3440 Close: 24.4760 Mid: 24.3440 | 14 Open: 24.4750 Close: 24.1140 Mid: 24.2895 | 15 Open: 24.1130 Close: 23.9700 Mid: 24.0720 | 16 Open: 23.9690 Close: 24.1280 Mid: 24.0770 | 17 |
18 | 19 Open: 24.1200 Close: 24.2590 Mid: 24.2615 | 20 Open: 24.2590 Close: 24.7540 Mid: 24.5085 | 21 Open: 24.7530 Close: 25.2290 Mid: 25.0475 | 22 Open: 25.2300 Close: 25.5560 Mid: 25.4045 | 23 Open: 25.5570 Close: 25.2600 Mid: 25.3535 | 24 |
25 | 26 Open: 25.2640 Close: 25.5920 Mid: 25.4475 | 27 Open: 25.5920 Close: 26.2080 Mid: 25.9005 | 28 Open: 26.2080 Close: 25.9160 Mid: 25.9470 | 29 Open: 25.9160 Close: 26.1340 Mid: 26.0250 | 30 Open: 26.1330 Close: 25.8950 Mid: 25.9560 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 25.8100 Close: 26.0580 Mid: 25.9200 | 3 Open: 26.0590 Close: 25.9610 Mid: 26.0460 | 4 Open: 25.9620 Close: 26.2210 Mid: 26.0640 | 5 Open: 26.2200 Close: 26.1840 Mid: 26.3600 | 6 Open: 26.1830 Close: 26.2370 Mid: 26.2325 | 7 |
8 | 9 Open: 26.1880 Close: 25.9990 Mid: 26.0920 | 10 Open: 26.0000 Close: 26.2940 Mid: 26.1460 | 11 Open: 26.2950 Close: 25.8450 Mid: 26.0765 | 12 Open: 25.8440 Close: 25.6470 Mid: 25.7250 | 13 Open: 25.6470 Close: 25.2110 Mid: 25.4585 | 14 |
15 | 16 Open: 25.2420 Close: 25.4280 Mid: 25.3760 | 17 Open: 25.4290 Close: 25.1350 Mid: 25.3775 | 18 Open: 25.1360 Close: 25.4790 Mid: 25.3660 | 19 Open: 25.4790 Close: 25.6660 Mid: 25.5280 | 20 Open: 25.6650 Close: 25.8680 Mid: 25.7785 | 21 |
22 | 23 Open: 25.8660 Close: 25.9270 Mid: 25.8700 | 24 Open: 25.9270 Close: 25.9340 Mid: 25.8730 | 25 Open: 25.9330 Close: 26.1670 Mid: 26.0650 | 26 Open: 26.1670 Close: 26.3380 Mid: 26.2545 | 27 Open: 26.3370 Close: 26.3480 Mid: 26.2745 | 28 |
29 | 30 Open: 26.3780 Close: 26.3350 Mid: 26.2980 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 26.3360 Close: 26.0640 Mid: 26.1850 | 2 Open: 26.0630 Close: 25.7510 Mid: 25.8810 | 3 Open: 25.7520 Close: 25.4020 Mid: 25.5570 | 4 Open: 25.4020 Close: 25.3010 Mid: 25.2560 | 5 | ||
6 | 7 Open: 25.2730 Close: 25.2320 Mid: 25.2645 | 8 Open: 25.2320 Close: 25.3740 Mid: 25.3185 | 9 Open: 25.3730 Close: 25.4840 Mid: 25.3855 | 10 Open: 25.4850 Close: 25.4160 Mid: 25.5030 | 11 Open: 25.4160 Close: 25.1930 Mid: 25.3260 | 12 |
13 | 14 Open: 25.2450 Close: 25.3110 Mid: 25.2155 | 15 Open: 25.3110 Close: 25.7450 Mid: 25.5485 | 16 Open: 25.7460 Close: 25.8250 Mid: 25.7735 | 17 Open: 25.8260 Close: 25.8130 Mid: 25.9165 | 18 Open: 25.8140 Close: 25.9480 Mid: 25.8105 | 19 |
20 | 21 Open: 25.9260 Close: 25.9420 Mid: 26.0230 | 22 Open: 25.9420 Close: 25.9140 Mid: 25.7965 | 23 Open: 25.9140 Close: 25.6490 Mid: 25.8280 | 24 Open: 25.6490 Close: 25.7050 Mid: 25.7055 | 25 Open: 25.7040 Close: 25.9060 Mid: 25.8265 | 26 |
27 | 28 Open: 25.9280 Close: 26.0020 Mid: 25.9780 | 29 Open: 26.0020 Close: 26.1170 Mid: 26.0265 | 30 Open: 26.1180 Close: 26.1260 Mid: 26.1340 | 31 Open: 26.1270 Close: 25.8470 Mid: 25.9455 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 25.8460 Close: 26.2160 Mid: 25.9905 | 2 | |||||
3 | 4 Open: 26.1110 Close: 26.0500 Mid: 26.0545 | 5 Open: 26.0500 Close: 26.2280 Mid: 26.2580 | 6 Open: 26.2290 Close: 25.8760 Mid: 26.3050 | 7 Open: 25.8770 Close: 25.7150 Mid: 25.8745 | 8 Open: 25.7150 Close: 26.0660 Mid: 25.8890 | 9 |
10 | 11 Open: 26.0350 Close: 26.1740 Mid: 26.2340 | 12 Open: 26.1750 Close: 26.2420 Mid: 26.2280 | 13 Open: 26.2430 Close: 26.0720 Mid: 26.1635 | 14 Open: 26.0710 Close: 25.8430 Mid: 26.0145 | 15 Open: 25.8430 Close: 25.6890 Mid: 25.8200 | 16 |
17 | 18 Open: 25.7170 Close: 25.6290 Mid: 25.7180 | 19 Open: 25.6280 Close: 25.4950 Mid: 25.5865 | 20 Open: 25.4960 Close: 25.6550 Mid: 25.6040 | 21 Open: 25.6550 Close: 25.7050 Mid: 25.6995 | 22 Open: 25.7050 Close: 25.6070 Mid: 25.6305 | 23 |
24 | 25 Open: 25.6420 Close: 25.5140 Mid: 25.5515 | 26 Open: 25.5140 Close: 25.9600 Mid: 25.8155 | 27 Open: 25.9600 Close: 26.1140 Mid: 26.1085 | 28 Open: 26.1140 Close: 25.9160 Mid: 25.8450 | 29 Open: 25.9160 Close: 25.9520 Mid: 25.8920 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 25.9580 Close: 25.8150 Mid: 25.9335 | 3 Open: 25.8150 Close: 25.7480 Mid: 25.7860 | 4 Open: 25.7470 Close: 25.7840 Mid: 25.7780 | 5 Open: 25.7830 Close: 25.7700 Mid: 25.7710 | 6 Open: 25.7700 Close: 25.7240 Mid: 25.7490 | 7 |
8 | 9 Open: 25.7050 Close: 25.8140 Mid: 25.7600 | 10 Open: 25.8130 Close: 25.7570 Mid: 25.7990 | 11 Open: 25.7560 Close: 25.6800 Mid: 25.7200 | 12 Open: 25.6800 Close: 25.6160 Mid: 25.6665 | 13 Open: 25.6170 Close: 25.3980 Mid: 25.5125 | 14 |
15 | 16 Open: 25.4080 Close: 25.5390 Mid: 25.5055 | 17 Open: 25.5380 Close: 25.6480 Mid: 25.6480 | 18 Open: 25.6480 Close: 25.6090 Mid: 25.5945 | 19 Open: 25.6100 Close: 25.3980 Mid: 25.6095 | 20 Open: 25.3970 Close: 25.2300 Mid: 25.3220 | 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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