Best British Pound / Romanian Leu Exchange Rate Today: 6.0055
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 5.9875, and the most competitive travel money / cash rates start at approximately 5.8307.
Live rate: 1 GBP = 6.0055 RON (-0.16% )
Inverted: 1 RON = 0.1665 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 | 6.0055 | 0 | 5.9454 | |||
 | 5.9875 (indicative) | 0 | 5.9875 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 5.9635 (indicative) | 0 | 5.9635 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 6.0055 | 0.48% | 5.9767 | 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. | |
 | 5.8307 | 0 | 5.8307 | 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. | |
 | 5.8241 | 0 | 5.8241 | 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. | |
 | 5.6789 | 0 | 5.6789 | 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  | 5.8373 (upper range) | Variable | 5.8373 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 5.7953 (lower range) | Variable | 5.7953 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 5.7353 | 0 | 5.7353 | International Payments and Transfers |
GBP/RON Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.7391 Close: 5.7391 Mid: 5.7391 | 2 Open: 5.7390 Close: 5.7296 Mid: 5.7375 | 3 Open: 5.7298 Close: 5.7588 Mid: 5.7443 | 4 Open: 5.7594 Close: 5.7631 Mid: 5.7642 | 5 Open: 5.7631 Close: 5.7783 Mid: 5.7707 | 6 | |
7 | 8 Open: 5.7761 Close: 5.7793 Mid: 5.7739 | 9 Open: 5.7800 Close: 5.7815 Mid: 5.7825 | 10 Open: 5.7815 Close: 5.7796 Mid: 5.7787 | 11 Open: 5.7796 Close: 5.7791 Mid: 5.7788 | 12 Open: 5.7795 Close: 5.7873 Mid: 5.7840 | 13 |
14 | 15 Open: 5.7856 Close: 5.7820 Mid: 5.7829 | 16 Open: 5.7820 Close: 5.7882 Mid: 5.7816 | 17 Open: 5.7877 Close: 5.8018 Mid: 5.7941 | 18 Open: 5.8013 Close: 5.8111 Mid: 5.8036 | 19 Open: 5.8116 Close: 5.7971 Mid: 5.8036 | 20 |
21 | 22 Open: 5.8004 Close: 5.8155 Mid: 5.8087 | 23 Open: 5.8155 Close: 5.8188 Mid: 5.8171 | 24 Open: 5.8188 Close: 5.8181 Mid: 5.8203 | 25 Open: 5.8181 Close: 5.8332 Mid: 5.8240 | 26 Open: 5.8330 Close: 5.8286 Mid: 5.8316 | 27 |
28 | 29 Open: 5.8256 Close: 5.8391 Mid: 5.8345 | 30 Open: 5.8392 Close: 5.8141 Mid: 5.8254 | 31 Open: 5.8151 Close: 5.8328 Mid: 5.8257 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.8329 Close: 5.8243 Mid: 5.8271 | 2 Open: 5.8246 Close: 5.8278 Mid: 5.8285 | 3 | ||||
4 | 5 Open: 5.8245 Close: 5.8079 Mid: 5.8185 | 6 Open: 5.8078 Close: 5.8276 Mid: 5.8172 | 7 Open: 5.8276 Close: 5.8359 Mid: 5.8332 | 8 Open: 5.8356 Close: 5.8283 Mid: 5.8311 | 9 Open: 5.8281 Close: 5.8303 Mid: 5.8283 | 10 |
11 | 12 Open: 5.8295 Close: 5.8318 Mid: 5.8289 | 13 Open: 5.8318 Close: 5.8492 Mid: 5.8419 | 14 Open: 5.8494 Close: 5.8249 Mid: 5.8374 | 15 Open: 5.8251 Close: 5.8193 Mid: 5.8175 | 16 Open: 5.8193 Close: 5.8147 Mid: 5.8175 | 17 |
18 | 19 Open: 5.8202 Close: 5.8216 Mid: 5.8241 | 20 Open: 5.8213 Close: 5.8163 Mid: 5.8121 | 21 Open: 5.8153 Close: 5.8080 Mid: 5.8115 | 22 Open: 5.8084 Close: 5.8132 Mid: 5.8122 | 23 Open: 5.8138 Close: 5.8277 Mid: 5.8229 | 24 |
25 | 26 Open: 5.8254 Close: 5.8116 Mid: 5.8184 | 27 Open: 5.8118 Close: 5.8063 Mid: 5.8063 | 28 Open: 5.8066 Close: 5.8021 Mid: 5.8076 | 29 Open: 5.8022 Close: 5.8093 Mid: 5.8060 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.8090 Close: 5.7997 Mid: 5.8018 | 2 | |||||
3 | 4 Open: 5.8010 Close: 5.8124 Mid: 5.8065 | 5 Open: 5.8124 Close: 5.8207 Mid: 5.8151 | 6 Open: 5.8206 Close: 5.8091 Mid: 5.8141 | 7 Open: 5.8090 Close: 5.8148 Mid: 5.8180 | 8 Open: 5.8149 Close: 5.8368 Mid: 5.8270 | 9 |
10 | 11 Open: 5.8355 Close: 5.8227 Mid: 5.8291 | 12 Open: 5.8227 Close: 5.8157 Mid: 5.8154 | 13 Open: 5.8156 Close: 5.8103 Mid: 5.8130 | 14 Open: 5.8103 Close: 5.8201 Mid: 5.8166 | 15 Open: 5.8205 Close: 5.8160 Mid: 5.8188 | 16 |
17 | 18 Open: 5.8203 Close: 5.8161 Mid: 5.8141 | 19 Open: 5.8165 Close: 5.8226 Mid: 5.8187 | 20 Open: 5.8230 Close: 5.8220 Mid: 5.8219 | 21 Open: 5.8218 Close: 5.7991 Mid: 5.8143 | 22 Open: 5.7990 Close: 5.7931 Mid: 5.7909 | 23 |
24 | 25 Open: 5.7938 Close: 5.7956 Mid: 5.7974 | 26 Open: 5.7956 Close: 5.7946 Mid: 5.7935 | 27 Open: 5.7945 Close: 5.8015 Mid: 5.7976 | 28 Open: 5.8015 Close: 5.8132 Mid: 5.8098 | 29 Open: 5.8134 Close: 5.8174 Mid: 5.8168 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.8135 Close: 5.8112 Mid: 5.8133 | 2 Open: 5.8150 Close: 5.8007 Mid: 5.8084 | 3 Open: 5.8009 Close: 5.7975 Mid: 5.7990 | 4 Open: 5.7978 Close: 5.7926 Mid: 5.7971 | 5 Open: 5.7928 Close: 5.7915 Mid: 5.7911 | 6 | |
7 | 8 Open: 5.7865 Close: 5.7905 Mid: 5.7901 | 9 Open: 5.7904 Close: 5.8010 Mid: 5.7960 | 10 Open: 5.8009 Close: 5.8050 Mid: 5.8060 | 11 Open: 5.8046 Close: 5.8153 Mid: 5.8095 | 12 Open: 5.8156 Close: 5.8161 Mid: 5.8215 | 13 |
14 | 15 Open: 5.8169 Close: 5.8286 Mid: 5.8240 | 16 Open: 5.8286 Close: 5.8244 Mid: 5.8279 | 17 Open: 5.8244 Close: 5.8188 Mid: 5.8273 | 18 Open: 5.8180 Close: 5.8132 Mid: 5.8126 | 19 Open: 5.8134 Close: 5.8058 Mid: 5.8101 | 20 |
21 | 22 Open: 5.7841 Close: 5.7652 Mid: 5.7719 | 23 Open: 5.7653 Close: 5.7868 Mid: 5.7743 | 24 Open: 5.7869 Close: 5.7895 Mid: 5.7899 | 25 Open: 5.7899 Close: 5.8031 Mid: 5.7992 | 26 Open: 5.8031 Close: 5.8091 Mid: 5.8051 | 27 |
28 | 29 Open: 5.8148 Close: 5.8270 Mid: 5.8208 | 30 Open: 5.8271 Close: 5.8261 Mid: 5.8235 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.8262 Close: 5.8188 Mid: 5.8220 | 2 Open: 5.8189 Close: 5.8145 Mid: 5.8171 | 3 Open: 5.8144 Close: 5.7973 Mid: 5.8076 | 4 | |||
5 | 6 Open: 5.7989 Close: 5.8001 Mid: 5.8041 | 7 Open: 5.8000 Close: 5.7931 Mid: 5.7956 | 8 Open: 5.7928 Close: 5.7834 Mid: 5.7840 | 9 Open: 5.7835 Close: 5.7775 Mid: 5.7827 | 10 Open: 5.7774 Close: 5.7854 Mid: 5.7823 | 11 |
12 | 13 Open: 5.7856 Close: 5.7881 Mid: 5.7849 | 14 Open: 5.7884 Close: 5.7870 Mid: 5.7867 | 15 Open: 5.7874 Close: 5.7962 Mid: 5.7938 | 16 Open: 5.7964 Close: 5.7983 Mid: 5.7982 | 17 Open: 5.7983 Close: 5.8098 Mid: 5.8041 | 18 |
19 | 20 Open: 5.8097 Close: 5.8185 Mid: 5.8121 | 21 Open: 5.8188 Close: 5.8259 Mid: 5.8227 | 22 Open: 5.8257 Close: 5.8462 Mid: 5.8372 | 23 Open: 5.8462 Close: 5.8413 Mid: 5.8429 | 24 Open: 5.8413 Close: 5.8416 Mid: 5.8369 | 25 |
26 | 27 Open: 5.8414 Close: 5.8525 Mid: 5.8471 | 28 Open: 5.8525 Close: 5.8490 Mid: 5.8486 | 29 Open: 5.8489 Close: 5.8512 Mid: 5.8525 | 30 Open: 5.8513 Close: 5.8473 Mid: 5.8489 | 31 Open: 5.8475 Close: 5.8394 Mid: 5.8393 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 5.8437 Close: 5.8439 Mid: 5.8385 | 4 Open: 5.8438 Close: 5.8442 Mid: 5.8419 | 5 Open: 5.8438 Close: 5.8475 Mid: 5.8451 | 6 Open: 5.8479 Close: 5.8445 Mid: 5.8451 | 7 Open: 5.8445 Close: 5.8570 Mid: 5.8501 | 8 |
9 | 10 Open: 5.8661 Close: 5.8909 Mid: 5.8794 | 11 Open: 5.8905 Close: 5.9033 Mid: 5.8941 | 12 Open: 5.9033 Close: 5.8983 Mid: 5.9014 | 13 Open: 5.8981 Close: 5.9007 Mid: 5.8944 | 14 Open: 5.9016 Close: 5.9010 Mid: 5.9107 | 15 |
16 | 17 Open: 5.8979 Close: 5.8874 Mid: 5.8915 | 18 Open: 5.8876 Close: 5.8852 Mid: 5.8876 | 19 Open: 5.8854 Close: 5.8921 Mid: 5.8925 | 20 Open: 5.8920 Close: 5.8856 Mid: 5.8895 | 21 Open: 5.8855 Close: 5.8840 Mid: 5.8859 | 22 |
23 | 24 Open: 5.8846 Close: 5.8801 Mid: 5.8810 | 25 Open: 5.8803 Close: 5.8944 Mid: 5.8878 | 26 Open: 5.8938 Close: 5.8886 Mid: 5.8929 | 27 Open: 5.8882 Close: 5.8798 Mid: 5.8839 | 28 Open: 5.8798 Close: 5.8764 Mid: 5.8794 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.8609 Close: 5.8654 Mid: 5.8646 | 2 Open: 5.8650 Close: 5.8755 Mid: 5.8686 | 3 Open: 5.8754 Close: 5.8799 Mid: 5.8760 | 4 Open: 5.8800 Close: 5.8765 Mid: 5.8788 | 5 Open: 5.8763 Close: 5.8834 Mid: 5.8788 | 6 | |
7 | 8 Open: 5.8926 Close: 5.8897 Mid: 5.8881 | 9 Open: 5.8881 Close: 5.8826 Mid: 5.8856 | 10 Open: 5.8824 Close: 5.8963 Mid: 5.8883 | 11 Open: 5.8966 Close: 5.9092 Mid: 5.9029 | 12 Open: 5.9092 Close: 5.9207 Mid: 5.9155 | 13 |
14 | 15 Open: 5.9224 Close: 5.9114 Mid: 5.9171 | 16 Open: 5.9115 Close: 5.9136 Mid: 5.9096 | 17 Open: 5.9135 Close: 5.9141 Mid: 5.9200 | 18 Open: 5.9139 Close: 5.9075 Mid: 5.9077 | 19 Open: 5.9072 Close: 5.8985 Mid: 5.9026 | 20 |
21 | 22 Open: 5.8981 Close: 5.8994 Mid: 5.9021 | 23 Open: 5.8997 Close: 5.9166 Mid: 5.9092 | 24 Open: 5.9163 Close: 5.9165 Mid: 5.9137 | 25 Open: 5.9165 Close: 5.8954 Mid: 5.9060 | 26 Open: 5.8948 Close: 5.8863 Mid: 5.8905 | 27 |
28 | 29 Open: 5.8853 Close: 5.9073 Mid: 5.8934 | 30 Open: 5.9076 Close: 5.9079 Mid: 5.9074 | 31 Open: 5.9077 Close: 5.9025 Mid: 5.9002 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.9030 Close: 5.8985 Mid: 5.8964 | 2 Open: 5.8966 Close: 5.8414 Mid: 5.8690 | 3 | ||||
4 | 5 Open: 5.8341 Close: 5.7905 Mid: 5.8113 | 6 Open: 5.7916 Close: 5.7903 Mid: 5.7932 | 7 Open: 5.7896 Close: 5.7887 Mid: 5.7931 | 8 Open: 5.7884 Close: 5.7986 Mid: 5.7852 | 9 Open: 5.7995 Close: 5.8146 Mid: 5.8097 | 10 |
11 | 12 Open: 5.8190 Close: 5.8176 Mid: 5.8161 | 13 Open: 5.8173 Close: 5.8224 Mid: 5.8238 | 14 Open: 5.8223 Close: 5.7959 Mid: 5.8082 | 15 Open: 5.7960 Close: 5.8198 Mid: 5.8079 | 16 Open: 5.8204 Close: 5.8366 Mid: 5.8327 | 17 |
18 | 19 Open: 5.8333 Close: 5.8409 Mid: 5.8404 | 20 Open: 5.8403 Close: 5.8364 Mid: 5.8395 | 21 Open: 5.8361 Close: 5.8430 Mid: 5.8356 | 22 Open: 5.8431 Close: 5.8651 Mid: 5.8552 | 23 Open: 5.8648 Close: 5.8748 Mid: 5.8713 | 24 |
25 | 26 Open: 5.8733 Close: 5.8800 Mid: 5.8773 | 27 Open: 5.8799 Close: 5.8989 Mid: 5.8890 | 28 Open: 5.8992 Close: 5.9079 Mid: 5.9075 | 29 Open: 5.9076 Close: 5.9167 Mid: 5.9138 | 30 Open: 5.9167 Close: 5.9101 Mid: 5.9168 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 5.9140 Close: 5.9084 Mid: 5.9091 | 3 Open: 5.9083 Close: 5.9002 Mid: 5.9071 | 4 Open: 5.9006 Close: 5.9007 Mid: 5.9018 | 5 Open: 5.9004 Close: 5.9018 Mid: 5.8989 | 6 Open: 5.9015 Close: 5.8945 Mid: 5.8999 | 7 |
8 | 9 Open: 5.8894 Close: 5.8926 Mid: 5.8930 | 10 Open: 5.8925 Close: 5.8950 Mid: 5.8975 | 11 Open: 5.8957 Close: 5.8819 Mid: 5.8889 | 12 Open: 5.8826 Close: 5.8909 Mid: 5.8883 | 13 Open: 5.8912 Close: 5.8969 Mid: 5.8921 | 14 |
15 | 16 Open: 5.8916 Close: 5.9024 Mid: 5.8976 | 17 Open: 5.9026 Close: 5.8932 Mid: 5.8998 | 18 Open: 5.8929 Close: 5.9133 Mid: 5.9016 | 19 Open: 5.9131 Close: 5.9210 Mid: 5.9167 | 20 Open: 5.9209 Close: 5.9291 Mid: 5.9266 | 21 |
22 | 23 Open: 5.9295 Close: 5.9649 Mid: 5.9440 | 24 Open: 5.9656 Close: 5.9727 Mid: 5.9725 | 25 Open: 5.9725 Close: 5.9561 Mid: 5.9594 | 26 Open: 5.9560 Close: 5.9696 Mid: 5.9622 | 27 Open: 5.9697 Close: 5.9686 Mid: 5.9699 | 28 |
29 | 30 Open: 5.9619 Close: 5.9738 Mid: 5.9635 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.9740 Close: 5.9732 Mid: 5.9776 | 2 Open: 5.9731 Close: 5.9754 Mid: 5.9738 | 3 Open: 5.9756 Close: 5.9202 Mid: 5.9418 | 4 Open: 5.9203 Close: 5.9462 Mid: 5.9333 | 5 | ||
6 | 7 Open: 5.9496 Close: 5.9310 Mid: 5.9409 | 8 Open: 5.9313 Close: 5.9403 Mid: 5.9325 | 9 Open: 5.9403 Close: 5.9420 Mid: 5.9400 | 10 Open: 5.9420 Close: 5.9435 Mid: 5.9484 | 11 Open: 5.9434 Close: 5.9431 Mid: 5.9408 | 12 |
13 | 14 Open: 5.9462 Close: 5.9508 Mid: 5.9464 | 15 Open: 5.9512 Close: 5.9715 Mid: 5.9614 | 16 Open: 5.9739 Close: 5.9506 Mid: 5.9569 | 17 Open: 5.9507 Close: 5.9715 Mid: 5.9606 | 18 Open: 5.9719 Close: 5.9726 Mid: 5.9813 | 19 |
20 | 21 Open: 5.9747 Close: 5.9692 Mid: 5.9706 | 22 Open: 5.9715 Close: 5.9692 Mid: 5.9685 | 23 Open: 5.9700 Close: 5.9778 Mid: 5.9791 | 24 Open: 5.9764 Close: 5.9681 Mid: 5.9711 | 25 Open: 5.9674 Close: 5.9672 Mid: 5.9630 | 26 |
27 | 28 Open: 5.9754 Close: 5.9688 Mid: 5.9697 | 29 Open: 5.9688 Close: 5.9877 Mid: 5.9775 | 30 Open: 5.9874 Close: 5.9571 Mid: 5.9714 | 31 Open: 5.9560 Close: 5.9004 Mid: 5.9282 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 5.9001 Close: 5.9394 Mid: 5.9199 | 2 | |||||
3 | 4 Open: 5.9300 Close: 5.9249 Mid: 5.9254 | 5 Open: 5.9249 Close: 5.9327 Mid: 5.9302 | 6 Open: 5.9328 Close: 5.9729 Mid: 5.9557 | 7 Open: 5.9730 Close: 5.9812 Mid: 5.9762 | 8 Open: 5.9813 Close: 5.9904 Mid: 5.9853 | 9 |
10 | 11 Open: 5.9939 Close: 6.0135 Mid: 6.0045 | 12 Open: 6.0131 Close: 5.9899 Mid: 6.0015 | 13 Open: 5.9886 Close: 5.9775 Mid: 5.9770 | 14 Open: 5.9782 Close: 5.9803 Mid: 5.9831 | 15 Open: 5.9803 Close: 5.9649 Mid: 5.9715 | 16 |
17 | 18 Open: 5.9691 Close: 5.9508 Mid: 5.9580 | 19 Open: 5.9511 Close: 5.9516 Mid: 5.9521 | 20 Open: 5.9520 Close: 5.9815 Mid: 5.9680 | 21 Open: 5.9809 Close: 5.9751 Mid: 5.9755 | 22 Open: 5.9756 Close: 5.9888 Mid: 5.9787 | 23 |
24 | 25 Open: 5.9751 Close: 5.9557 Mid: 5.9696 | 26 Open: 5.9560 Close: 5.9589 Mid: 5.9590 | 27 Open: 5.9593 Close: 5.9687 Mid: 5.9640 | 28 Open: 5.9689 Close: 5.9807 Mid: 5.9759 | 29 Open: 5.9809 Close: 5.9856 Mid: 5.9834 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 5.9899 Close: 6.0011 Mid: 6.0028 | 3 Open: 6.0010 Close: 5.9941 Mid: 5.9958 | 4 Open: 5.9946 Close: 6.0060 Mid: 6.0052 | 5 Open: 6.0063 Close: 6.0041 Mid: 6.0094 | 6 Open: 6.0037 Close: 5.9933 Mid: 5.9997 | 7 |
8 | 9 Open: 5.9931 Close: 6.0092 Mid: 6.0019 | 10 Open: 6.0090 Close: 6.0264 Mid: 6.0160 | 11 Open: 6.0264 Close: 6.0350 Mid: 6.0292 | 12 Open: 6.0349 Close: 6.0176 Mid: 6.0255 | 13 Open: 6.0177 Close: 5.9832 Mid: 6.0006 | 14 |
15 | 16 Open: 5.9822 Close: 6.0062 Mid: 5.9935 | 17 Open: 6.0061 Close: 6.0222 Mid: 6.0135 | 18 Open: 6.0226 Close: 6.0296 Mid: 6.0224 | 19 Open: 6.0299 Close: 6.0153 Mid: 6.0322 | 20 Open: 6.0144 Close: 6.0055 Mid: 6.0007 | 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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