Best British Pound / Omani Rial Exchange Rate Today: 0.4841
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 0.4826, and the most competitive travel money / cash rates start at approximately 0.4714.
Live rate: 1 GBP = 0.4841 OMR (+0.25% )
Inverted: 1 OMR = 2.0657 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 | 0.4841 | 0 | 0.4793 | |||
 | 0.4826 (indicative) | 0 | 0.4826 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 0.4807 (indicative) | 0 | 0.4807 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 0.4841 | 0.93% | 0.4796 | 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. | |
 | 0.4714 | 0 | 0.4714 | 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. | |
 | 0.4684 | 0 | 0.4684 | 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. | |
 | 0.4392 | 0 | 0.4392 | 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  | 0.4705 (upper range) | Variable | 0.4705 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 0.4672 (lower range) | Variable | 0.4672 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 0.4623 | 0 | 0.4623 | International Payments and Transfers |
GBP/OMR Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.4905 Close: 0.4861 Mid: 0.4883 | 3 Open: 0.4861 Close: 0.4869 Mid: 0.4864 | 4 Open: 0.4869 Close: 0.4883 Mid: 0.4878 | 5 Open: 0.4883 Close: 0.4895 Mid: 0.4883 | 6 | |
7 | 8 Open: 0.4883 Close: 0.4904 Mid: 0.4894 | 9 Open: 0.4904 Close: 0.4893 Mid: 0.4901 | 10 Open: 0.4893 Close: 0.4901 Mid: 0.4895 | 11 Open: 0.4901 Close: 0.4905 Mid: 0.4906 | 12 Open: 0.4905 Close: 0.4908 Mid: 0.4907 | 13 |
14 | 15 Open: 0.4908 Close: 0.4900 Mid: 0.4904 | 16 Open: 0.4900 Close: 0.4866 Mid: 0.4883 | 17 Open: 0.4866 Close: 0.4878 Mid: 0.4874 | 18 Open: 0.4879 Close: 0.4883 Mid: 0.4882 | 19 Open: 0.4884 Close: 0.4884 Mid: 0.4885 | 20 |
21 | 22 Open: 0.4884 Close: 0.4894 Mid: 0.4891 | 23 Open: 0.4894 Close: 0.4881 Mid: 0.4890 | 24 Open: 0.4882 Close: 0.4903 Mid: 0.4894 | 25 Open: 0.4902 Close: 0.4891 Mid: 0.4896 | 26 Open: 0.4891 Close: 0.4896 Mid: 0.4897 | 27 |
28 | 29 Open: 0.4895 Close: 0.4887 Mid: 0.4890 | 30 Open: 0.4887 Close: 0.4882 Mid: 0.4885 | 31 Open: 0.4883 Close: 0.4888 Mid: 0.4887 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4888 Close: 0.4895 Mid: 0.4884 | 2 Open: 0.4896 Close: 0.4872 Mid: 0.4891 | 3 | ||||
4 | 5 Open: 0.4874 Close: 0.4829 Mid: 0.4851 | 6 Open: 0.4828 Close: 0.4843 Mid: 0.4835 | 7 Open: 0.4843 Close: 0.4861 Mid: 0.4853 | 8 Open: 0.4861 Close: 0.4854 Mid: 0.4856 | 9 Open: 0.4854 Close: 0.4862 Mid: 0.4858 | 10 |
11 | 12 Open: 0.4861 Close: 0.4860 Mid: 0.4859 | 13 Open: 0.4860 Close: 0.4855 Mid: 0.4866 | 14 Open: 0.4854 Close: 0.4835 Mid: 0.4843 | 15 Open: 0.4835 Close: 0.4844 Mid: 0.4839 | 16 Open: 0.4845 Close: 0.4849 Mid: 0.4847 | 17 |
18 | 19 Open: 0.4849 Close: 0.4850 Mid: 0.4853 | 20 Open: 0.4850 Close: 0.4860 Mid: 0.4854 | 21 Open: 0.4860 Close: 0.4859 Mid: 0.4859 | 22 Open: 0.4860 Close: 0.4872 Mid: 0.4870 | 23 Open: 0.4872 Close: 0.4880 Mid: 0.4878 | 24 |
25 | 26 Open: 0.4880 Close: 0.4882 Mid: 0.4883 | 27 Open: 0.4883 Close: 0.4883 Mid: 0.4882 | 28 Open: 0.4883 Close: 0.4871 Mid: 0.4877 | 29 Open: 0.4872 Close: 0.4864 Mid: 0.4869 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4864 Close: 0.4869 Mid: 0.4865 | 2 | |||||
3 | 4 Open: 0.4869 Close: 0.4884 Mid: 0.4877 | 5 Open: 0.4884 Close: 0.4889 Mid: 0.4885 | 6 Open: 0.4889 Close: 0.4903 Mid: 0.4896 | 7 Open: 0.4903 Close: 0.4923 Mid: 0.4912 | 8 Open: 0.4923 Close: 0.4948 Mid: 0.4936 | 9 |
10 | 11 Open: 0.4948 Close: 0.4934 Mid: 0.4941 | 12 Open: 0.4934 Close: 0.4921 Mid: 0.4927 | 13 Open: 0.4922 Close: 0.4926 Mid: 0.4924 | 14 Open: 0.4926 Close: 0.4914 Mid: 0.4923 | 15 Open: 0.4914 Close: 0.4904 Mid: 0.4909 | 16 |
17 | 18 Open: 0.4906 Close: 0.4900 Mid: 0.4903 | 19 Open: 0.4900 Close: 0.4895 Mid: 0.4891 | 20 Open: 0.4897 Close: 0.4906 Mid: 0.4896 | 21 Open: 0.4907 Close: 0.4884 Mid: 0.4903 | 22 Open: 0.4883 Close: 0.4849 Mid: 0.4864 | 23 |
24 | 25 Open: 0.4849 Close: 0.4864 Mid: 0.4857 | 26 Open: 0.4865 Close: 0.4864 Mid: 0.4868 | 27 Open: 0.4864 Close: 0.4862 Mid: 0.4861 | 28 Open: 0.4863 Close: 0.4861 Mid: 0.4860 | 29 Open: 0.4861 Close: 0.4859 Mid: 0.4860 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4859 Close: 0.4853 Mid: 0.4856 | 2 Open: 0.4854 Close: 0.4839 Mid: 0.4845 | 3 Open: 0.4839 Close: 0.4860 Mid: 0.4850 | 4 Open: 0.4861 Close: 0.4873 Mid: 0.4868 | 5 Open: 0.4873 Close: 0.4862 Mid: 0.4865 | 6 | |
7 | 8 Open: 0.4861 Close: 0.4868 Mid: 0.4864 | 9 Open: 0.4868 Close: 0.4879 Mid: 0.4875 | 10 Open: 0.4879 Close: 0.4835 Mid: 0.4858 | 11 Open: 0.4834 Close: 0.4830 Mid: 0.4831 | 12 Open: 0.4830 Close: 0.4794 Mid: 0.4813 | 13 |
14 | 15 Open: 0.4794 Close: 0.4796 Mid: 0.4803 | 16 Open: 0.4796 Close: 0.4788 Mid: 0.4792 | 17 Open: 0.4788 Close: 0.4794 Mid: 0.4791 | 18 Open: 0.4794 Close: 0.4793 Mid: 0.4797 | 19 Open: 0.4793 Close: 0.4777 Mid: 0.4785 | 20 |
21 | 22 Open: 0.4776 Close: 0.4750 Mid: 0.4758 | 23 Open: 0.4750 Close: 0.4785 Mid: 0.4767 | 24 Open: 0.4786 Close: 0.4792 Mid: 0.4790 | 25 Open: 0.4792 Close: 0.4813 Mid: 0.4803 | 26 Open: 0.4813 Close: 0.4811 Mid: 0.4815 | 27 |
28 | 29 Open: 0.4811 Close: 0.4831 Mid: 0.4821 | 30 Open: 0.4831 Close: 0.4817 Mid: 0.4825 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4816 Close: 0.4805 Mid: 0.4811 | 2 Open: 0.4805 Close: 0.4818 Mid: 0.4811 | 3 Open: 0.4818 Close: 0.4833 Mid: 0.4830 | 4 | |||
5 | 6 Open: 0.4832 Close: 0.4839 Mid: 0.4836 | 7 Open: 0.4838 Close: 0.4822 Mid: 0.4830 | 8 Open: 0.4821 Close: 0.4808 Mid: 0.4814 | 9 Open: 0.4808 Close: 0.4812 Mid: 0.4803 | 10 Open: 0.4812 Close: 0.4822 Mid: 0.4818 | 11 |
12 | 13 Open: 0.4821 Close: 0.4832 Mid: 0.4827 | 14 Open: 0.4832 Close: 0.4840 Mid: 0.4834 | 15 Open: 0.4840 Close: 0.4873 Mid: 0.4856 | 16 Open: 0.4873 Close: 0.4876 Mid: 0.4877 | 17 Open: 0.4876 Close: 0.4884 Mid: 0.4876 | 18 |
19 | 20 Open: 0.4885 Close: 0.4890 Mid: 0.4888 | 21 Open: 0.4890 Close: 0.4892 Mid: 0.4892 | 22 Open: 0.4892 Close: 0.4897 Mid: 0.4895 | 23 Open: 0.4897 Close: 0.4891 Mid: 0.4896 | 24 Open: 0.4890 Close: 0.4899 Mid: 0.4892 | 25 |
26 | 27 Open: 0.4900 Close: 0.4914 Mid: 0.4907 | 28 Open: 0.4914 Close: 0.4916 Mid: 0.4918 | 29 Open: 0.4916 Close: 0.4895 Mid: 0.4905 | 30 Open: 0.4894 Close: 0.4900 Mid: 0.4893 | 31 Open: 0.4900 Close: 0.4901 Mid: 0.4899 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 0.4902 Close: 0.4917 Mid: 0.4907 | 4 Open: 0.4918 Close: 0.4917 Mid: 0.4920 | 5 Open: 0.4917 Close: 0.4919 Mid: 0.4917 | 6 Open: 0.4920 Close: 0.4921 Mid: 0.4922 | 7 Open: 0.4921 Close: 0.4902 Mid: 0.4915 | 8 |
9 | 10 Open: 0.4901 Close: 0.4898 Mid: 0.4896 | 11 Open: 0.4898 Close: 0.4902 Mid: 0.4902 | 12 Open: 0.4902 Close: 0.4933 Mid: 0.4919 | 13 Open: 0.4933 Close: 0.4914 Mid: 0.4923 | 14 Open: 0.4914 Close: 0.4884 Mid: 0.4899 | 15 |
16 | 17 Open: 0.4884 Close: 0.4886 Mid: 0.4881 | 18 Open: 0.4886 Close: 0.4888 Mid: 0.4887 | 19 Open: 0.4888 Close: 0.4898 Mid: 0.4895 | 20 Open: 0.4897 Close: 0.4879 Mid: 0.4888 | 21 Open: 0.4879 Close: 0.4866 Mid: 0.4872 | 22 |
23 | 24 Open: 0.4866 Close: 0.4880 Mid: 0.4873 | 25 Open: 0.4880 Close: 0.4884 Mid: 0.4883 | 26 Open: 0.4883 Close: 0.4863 Mid: 0.4873 | 27 Open: 0.4862 Close: 0.4869 Mid: 0.4865 | 28 Open: 0.4869 Close: 0.4867 Mid: 0.4868 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4855 Close: 0.4871 Mid: 0.4867 | 2 Open: 0.4871 Close: 0.4879 Mid: 0.4871 | 3 Open: 0.4879 Close: 0.4903 Mid: 0.4891 | 4 Open: 0.4903 Close: 0.4912 Mid: 0.4907 | 5 Open: 0.4912 Close: 0.4929 Mid: 0.4920 | 6 | |
7 | 8 Open: 0.4929 Close: 0.4934 Mid: 0.4934 | 9 Open: 0.4930 Close: 0.4925 Mid: 0.4929 | 10 Open: 0.4925 Close: 0.4940 Mid: 0.4931 | 11 Open: 0.4940 Close: 0.4969 Mid: 0.4954 | 12 Open: 0.4969 Close: 0.4996 Mid: 0.4983 | 13 |
14 | 15 Open: 0.4996 Close: 0.4994 Mid: 0.4995 | 16 Open: 0.4994 Close: 0.4990 Mid: 0.4991 | 17 Open: 0.4991 Close: 0.5012 Mid: 0.5005 | 18 Open: 0.5012 Close: 0.4991 Mid: 0.5001 | 19 Open: 0.4990 Close: 0.4972 Mid: 0.4981 | 20 |
21 | 22 Open: 0.4972 Close: 0.4975 Mid: 0.4975 | 23 Open: 0.4975 Close: 0.4968 Mid: 0.4971 | 24 Open: 0.4968 Close: 0.4971 Mid: 0.4968 | 25 Open: 0.4971 Close: 0.4954 Mid: 0.4962 | 26 Open: 0.4954 Close: 0.4953 Mid: 0.4953 | 27 |
28 | 29 Open: 0.4953 Close: 0.4948 Mid: 0.4949 | 30 Open: 0.4949 Close: 0.4941 Mid: 0.4946 | 31 Open: 0.4941 Close: 0.4945 Mid: 0.4943 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4946 Close: 0.4913 Mid: 0.4930 | 2 Open: 0.4912 Close: 0.4923 Mid: 0.4911 | 3 | ||||
4 | 5 Open: 0.4923 Close: 0.4914 Mid: 0.4916 | 6 Open: 0.4915 Close: 0.4887 Mid: 0.4903 | 7 Open: 0.4887 Close: 0.4896 Mid: 0.4892 | 8 Open: 0.4896 Close: 0.4899 Mid: 0.4892 | 9 Open: 0.4899 Close: 0.4911 Mid: 0.4905 | 10 |
11 | 12 Open: 0.4910 Close: 0.4915 Mid: 0.4913 | 13 Open: 0.4915 Close: 0.4941 Mid: 0.4928 | 14 Open: 0.4942 Close: 0.4942 Mid: 0.4945 | 15 Open: 0.4942 Close: 0.4945 Mid: 0.4944 | 16 Open: 0.4946 Close: 0.4973 Mid: 0.4960 | 17 |
18 | 19 Open: 0.4974 Close: 0.4995 Mid: 0.4985 | 20 Open: 0.4996 Close: 0.5012 Mid: 0.5004 | 21 Open: 0.5012 Close: 0.5029 Mid: 0.5021 | 22 Open: 0.5030 Close: 0.5043 Mid: 0.5039 | 23 Open: 0.5042 Close: 0.5070 Mid: 0.5056 | 24 |
25 | 26 Open: 0.5071 Close: 0.5077 Mid: 0.5074 | 27 Open: 0.5077 Close: 0.5095 Mid: 0.5086 | 28 Open: 0.5096 Close: 0.5082 Mid: 0.5091 | 29 Open: 0.5081 Close: 0.5072 Mid: 0.5078 | 30 Open: 0.5072 Close: 0.5059 Mid: 0.5065 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.5058 Close: 0.5059 Mid: 0.5058 | 3 Open: 0.5059 Close: 0.5047 Mid: 0.5053 | 4 Open: 0.5047 Close: 0.5057 Mid: 0.5052 | 5 Open: 0.5057 Close: 0.5069 Mid: 0.5063 | 6 Open: 0.5069 Close: 0.5065 Mid: 0.5070 | 7 |
8 | 9 Open: 0.5064 Close: 0.5038 Mid: 0.5051 | 10 Open: 0.5038 Close: 0.5037 Mid: 0.5038 | 11 Open: 0.5037 Close: 0.5030 Mid: 0.5035 | 12 Open: 0.5029 Close: 0.5034 Mid: 0.5028 | 13 Open: 0.5035 Close: 0.5053 Mid: 0.5045 | 14 |
15 | 16 Open: 0.5050 Close: 0.5076 Mid: 0.5063 | 17 Open: 0.5077 Close: 0.5079 Mid: 0.5081 | 18 Open: 0.5078 Close: 0.5090 Mid: 0.5081 | 19 Open: 0.5089 Close: 0.5115 Mid: 0.5101 | 20 Open: 0.5115 Close: 0.5121 Mid: 0.5117 | 21 |
22 | 23 Open: 0.5121 Close: 0.5134 Mid: 0.5126 | 24 Open: 0.5134 Close: 0.5152 Mid: 0.5143 | 25 Open: 0.5153 Close: 0.5142 Mid: 0.5152 | 26 Open: 0.5141 Close: 0.5158 Mid: 0.5146 | 27 Open: 0.5158 Close: 0.5154 Mid: 0.5157 | 28 |
29 | 30 Open: 0.5154 Close: 0.5156 Mid: 0.5157 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.5155 Close: 0.5120 Mid: 0.5138 | 2 Open: 0.5120 Close: 0.5110 Mid: 0.5115 | 3 Open: 0.5110 Close: 0.5050 Mid: 0.5079 | 4 Open: 0.5051 Close: 0.5059 Mid: 0.5061 | 5 | ||
6 | 7 Open: 0.5058 Close: 0.5036 Mid: 0.5046 | 8 Open: 0.5036 Close: 0.5042 Mid: 0.5040 | 9 Open: 0.5042 Close: 0.5035 Mid: 0.5039 | 10 Open: 0.5035 Close: 0.5030 Mid: 0.5033 | 11 Open: 0.5029 Close: 0.5031 Mid: 0.5029 | 12 |
13 | 14 Open: 0.5031 Close: 0.5025 Mid: 0.5028 | 15 Open: 0.5025 Close: 0.5034 Mid: 0.5031 | 16 Open: 0.5031 Close: 0.5008 Mid: 0.5020 | 17 Open: 0.5007 Close: 0.5007 Mid: 0.5004 | 18 Open: 0.5007 Close: 0.5021 Mid: 0.5015 | 19 |
20 | 21 Open: 0.5021 Close: 0.5007 Mid: 0.5014 | 22 Open: 0.4999 Close: 0.4996 Mid: 0.4998 | 23 Open: 0.4996 Close: 0.4987 Mid: 0.4992 | 24 Open: 0.4985 Close: 0.4994 Mid: 0.4990 | 25 Open: 0.4994 Close: 0.4995 Mid: 0.4996 | 26 |
27 | 28 Open: 0.4995 Close: 0.4997 Mid: 0.4997 | 29 Open: 0.4997 Close: 0.5003 Mid: 0.4998 | 30 Open: 0.5004 Close: 0.4996 Mid: 0.5000 | 31 Open: 0.4996 Close: 0.4971 Mid: 0.4986 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.4971 Close: 0.4980 Mid: 0.4974 | 2 | |||||
3 | 4 Open: 0.4979 Close: 0.4989 Mid: 0.4986 | 5 Open: 0.4989 Close: 0.5007 Mid: 0.4998 | 6 Open: 0.5008 Close: 0.4962 Mid: 0.4981 | 7 Open: 0.4962 Close: 0.4996 Mid: 0.4978 | 8 Open: 0.4996 Close: 0.4973 Mid: 0.4985 | 9 |
10 | 11 Open: 0.4973 Close: 0.4955 Mid: 0.4964 | 12 Open: 0.4955 Close: 0.4914 Mid: 0.4935 | 13 Open: 0.4914 Close: 0.4895 Mid: 0.4904 | 14 Open: 0.4895 Close: 0.4880 Mid: 0.4884 | 15 Open: 0.4880 Close: 0.4862 Mid: 0.4873 | 16 |
17 | 18 Open: 0.4862 Close: 0.4874 Mid: 0.4866 | 19 Open: 0.4874 Close: 0.4877 Mid: 0.4872 | 20 Open: 0.4877 Close: 0.4870 Mid: 0.4878 | 21 Open: 0.4870 Close: 0.4854 Mid: 0.4863 | 22 Open: 0.4853 Close: 0.4822 Mid: 0.4835 | 23 |
24 | 25 Open: 0.4824 Close: 0.4838 Mid: 0.4833 | 26 Open: 0.4838 Close: 0.4833 Mid: 0.4836 | 27 Open: 0.4834 Close: 0.4877 Mid: 0.4855 | 28 Open: 0.4877 Close: 0.4882 Mid: 0.4877 | 29 Open: 0.4882 Close: 0.4895 Mid: 0.4889 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 0.4896 Close: 0.4873 Mid: 0.4884 | 3 Open: 0.4873 Close: 0.4878 Mid: 0.4874 | 4 Open: 0.4878 Close: 0.4889 Mid: 0.4883 | 5 Open: 0.4889 Close: 0.4908 Mid: 0.4899 | 6 Open: 0.4908 Close: 0.4905 Mid: 0.4914 | 7 |
8 | 9 Open: 0.4905 Close: 0.4916 Mid: 0.4912 | 10 Open: 0.4915 Close: 0.4912 Mid: 0.4912 | 11 Open: 0.4913 Close: 0.4909 Mid: 0.4911 | 12 Open: 0.4909 Close: 0.4886 Mid: 0.4900 | 13 Open: 0.4886 Close: 0.4862 Mid: 0.4874 | 14 |
15 | 16 Open: 0.4862 Close: 0.4881 Mid: 0.4872 | 17 Open: 0.4882 Close: 0.4893 Mid: 0.4887 | 18 Open: 0.4893 Close: 0.4855 Mid: 0.4876 | 19 Open: 0.4854 Close: 0.4828 Mid: 0.4844 | 20 Open: 0.4827 Close: 0.4841 Mid: 0.4825 | 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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