Best British Pound / Singapore Dollar Exchange Rate Today: 1.7032
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 1.6981, and the most competitive travel money / cash rates start at approximately 1.6630.
Live rate: 1 GBP = 1.7032 SGD (+0.05% )
Inverted: 1 SGD = 0.5871 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 | 1.7032 | 0 | 1.6862 | |||
 | 1.6981 (indicative) | 0 | 1.6981 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 1.6913 (indicative) | 0 | 1.6913 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 1.7032 | 0.44% | 1.6957 | 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. | |
 | 1.6630 | 0 | 1.6630 | 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. | |
 | 1.6588 | 0 | 1.6588 | 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. | |
 | 1.6117 | 0 | 1.6117 | 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  | 1.6555 (upper range) | Variable | 1.6555 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 1.6436 (lower range) | Variable | 1.6436 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 1.6266 | 0 | 1.6266 | International Payments and Transfers |
GBP/SGD Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.6800 Close: 1.6800 Mid: 1.6800 | 2 Open: 1.6801 Close: 1.6741 Mid: 1.6794 | 3 Open: 1.6740 Close: 1.6829 Mid: 1.6784 | 4 Open: 1.6828 Close: 1.6860 Mid: 1.6862 | 5 Open: 1.6859 Close: 1.6911 Mid: 1.6880 | 6 | |
7 | 8 Open: 1.6916 Close: 1.6933 Mid: 1.6914 | 9 Open: 1.6931 Close: 1.6916 Mid: 1.6924 | 10 Open: 1.6917 Close: 1.6967 Mid: 1.6939 | 11 Open: 1.6968 Close: 1.6986 Mid: 1.6962 | 12 Open: 1.6986 Close: 1.6981 Mid: 1.6975 | 13 |
14 | 15 Open: 1.6995 Close: 1.6973 Mid: 1.6978 | 16 Open: 1.6971 Close: 1.6964 Mid: 1.6962 | 17 Open: 1.6965 Close: 1.7047 Mid: 1.7002 | 18 Open: 1.7045 Close: 1.7075 Mid: 1.7051 | 19 Open: 1.7077 Close: 1.7022 Mid: 1.7040 | 20 |
21 | 22 Open: 1.7015 Close: 1.7055 Mid: 1.7039 | 23 Open: 1.7053 Close: 1.7015 Mid: 1.7024 | 24 Open: 1.7016 Close: 1.7044 Mid: 1.7049 | 25 Open: 1.7048 Close: 1.7035 Mid: 1.7040 | 26 Open: 1.7032 Close: 1.7042 Mid: 1.7046 | 27 |
28 | 29 Open: 1.7029 Close: 1.7032 Mid: 1.7023 | 30 Open: 1.7029 Close: 1.7007 Mid: 1.6994 | 31 Open: 1.7009 Close: 1.7002 Mid: 1.7008 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7001 Close: 1.7033 Mid: 1.6993 | 2 Open: 1.7034 Close: 1.6964 Mid: 1.7002 | 3 | ||||
4 | 5 Open: 1.6961 Close: 1.6889 Mid: 1.6929 | 6 Open: 1.6886 Close: 1.6932 Mid: 1.6907 | 7 Open: 1.6934 Close: 1.6964 Mid: 1.6951 | 8 Open: 1.6964 Close: 1.7000 Mid: 1.6976 | 9 Open: 1.6998 Close: 1.6998 Mid: 1.6994 | 10 |
11 | 12 Open: 1.7006 Close: 1.6980 Mid: 1.6981 | 13 Open: 1.6981 Close: 1.7012 Mid: 1.7011 | 14 Open: 1.7014 Close: 1.6944 Mid: 1.6969 | 15 Open: 1.6943 Close: 1.6957 Mid: 1.6924 | 16 Open: 1.6957 Close: 1.6957 Mid: 1.6953 | 17 |
18 | 19 Open: 1.6980 Close: 1.6953 Mid: 1.6964 | 20 Open: 1.6952 Close: 1.6959 Mid: 1.6972 | 21 Open: 1.6960 Close: 1.6984 Mid: 1.6964 | 22 Open: 1.6987 Close: 1.7004 Mid: 1.6986 | 23 Open: 1.7003 Close: 1.7019 Mid: 1.7027 | 24 |
25 | 26 Open: 1.7033 Close: 1.7055 Mid: 1.7042 | 27 Open: 1.7053 Close: 1.7050 Mid: 1.7041 | 28 Open: 1.7050 Close: 1.7045 Mid: 1.7027 | 29 Open: 1.7046 Close: 1.6988 Mid: 1.7013 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.6988 Close: 1.7007 Mid: 1.7002 | 2 | |||||
3 | 4 Open: 1.7011 Close: 1.7051 Mid: 1.7033 | 5 Open: 1.7051 Close: 1.7060 Mid: 1.7061 | 6 Open: 1.7061 Close: 1.7046 Mid: 1.7056 | 7 Open: 1.7046 Close: 1.7077 Mid: 1.7046 | 8 Open: 1.7076 Close: 1.7121 Mid: 1.7097 | 9 |
10 | 11 Open: 1.7111 Close: 1.7049 Mid: 1.7075 | 12 Open: 1.7048 Close: 1.7044 Mid: 1.7030 | 13 Open: 1.7044 Close: 1.7051 Mid: 1.7052 | 14 Open: 1.7050 Close: 1.7037 Mid: 1.7049 | 15 Open: 1.7038 Close: 1.7034 Mid: 1.7042 | 16 |
17 | 18 Open: 1.7038 Close: 1.7046 Mid: 1.7042 | 19 Open: 1.7046 Close: 1.7073 Mid: 1.7052 | 20 Open: 1.7073 Close: 1.7128 Mid: 1.7095 | 21 Open: 1.7129 Close: 1.7009 Mid: 1.7070 | 22 Open: 1.7009 Close: 1.6996 Mid: 1.7001 | 23 |
24 | 25 Open: 1.7005 Close: 1.7008 Mid: 1.6995 | 26 Open: 1.7008 Close: 1.6994 Mid: 1.7005 | 27 Open: 1.6994 Close: 1.7034 Mid: 1.7011 | 28 Open: 1.7034 Close: 1.7045 Mid: 1.7040 | 29 Open: 1.7044 Close: 1.7036 Mid: 1.7031 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7048 Close: 1.6972 Mid: 1.7014 | 2 Open: 1.6972 Close: 1.6998 Mid: 1.6986 | 3 Open: 1.6997 Close: 1.7058 Mid: 1.7022 | 4 Open: 1.7058 Close: 1.7048 Mid: 1.7057 | 5 Open: 1.7047 Close: 1.7046 Mid: 1.7021 | 6 | |
7 | 8 Open: 1.7024 Close: 1.7052 Mid: 1.7043 | 9 Open: 1.7052 Close: 1.7049 Mid: 1.7060 | 10 Open: 1.7049 Close: 1.6977 Mid: 1.7018 | 11 Open: 1.6978 Close: 1.6985 Mid: 1.6981 | 12 Open: 1.6986 Close: 1.6948 Mid: 1.6964 | 13 |
14 | 15 Open: 1.6931 Close: 1.6964 Mid: 1.6964 | 16 Open: 1.6963 Close: 1.6962 Mid: 1.6975 | 17 Open: 1.6962 Close: 1.6943 Mid: 1.6965 | 18 Open: 1.6943 Close: 1.6941 Mid: 1.6952 | 19 Open: 1.6941 Close: 1.6843 Mid: 1.6903 | 20 |
21 | 22 Open: 1.6851 Close: 1.6820 Mid: 1.6819 | 23 Open: 1.6820 Close: 1.6947 Mid: 1.6884 | 24 Open: 1.6948 Close: 1.6977 Mid: 1.6941 | 25 Open: 1.6976 Close: 1.7007 Mid: 1.6992 | 26 Open: 1.7007 Close: 1.7025 Mid: 1.7015 | 27 |
28 | 29 Open: 1.7007 Close: 1.7080 Mid: 1.7040 | 30 Open: 1.7081 Close: 1.7056 Mid: 1.7063 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7056 Close: 1.7046 Mid: 1.7043 | 2 Open: 1.7045 Close: 1.6983 Mid: 1.7007 | 3 Open: 1.6983 Close: 1.6934 Mid: 1.6973 | 4 | |||
5 | 6 Open: 1.6944 Close: 1.6976 Mid: 1.6967 | 7 Open: 1.6975 Close: 1.6943 Mid: 1.6964 | 8 Open: 1.6943 Close: 1.6942 Mid: 1.6933 | 9 Open: 1.6942 Close: 1.6939 Mid: 1.6920 | 10 Open: 1.6939 Close: 1.6967 Mid: 1.6955 | 11 |
12 | 13 Open: 1.6969 Close: 1.6999 Mid: 1.6978 | 14 Open: 1.6998 Close: 1.7023 Mid: 1.6983 | 15 Open: 1.7022 Close: 1.7066 Mid: 1.7032 | 16 Open: 1.7066 Close: 1.7055 Mid: 1.7046 | 17 Open: 1.7055 Close: 1.7084 Mid: 1.7067 | 18 |
19 | 20 Open: 1.7088 Close: 1.7122 Mid: 1.7105 | 21 Open: 1.7123 Close: 1.7124 Mid: 1.7125 | 22 Open: 1.7123 Close: 1.7177 Mid: 1.7159 | 23 Open: 1.7177 Close: 1.7167 Mid: 1.7173 | 24 Open: 1.7166 Close: 1.7195 Mid: 1.7174 | 25 |
26 | 27 Open: 1.7187 Close: 1.7232 Mid: 1.7211 | 28 Open: 1.7233 Close: 1.7214 Mid: 1.7222 | 29 Open: 1.7213 Close: 1.7173 Mid: 1.7198 | 30 Open: 1.7173 Close: 1.7190 Mid: 1.7177 | 31 Open: 1.7189 Close: 1.7218 Mid: 1.7201 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 1.7198 Close: 1.7239 Mid: 1.7198 | 4 Open: 1.7239 Close: 1.7198 Mid: 1.7216 | 5 Open: 1.7198 Close: 1.7246 Mid: 1.7219 | 6 Open: 1.7246 Close: 1.7214 Mid: 1.7227 | 7 Open: 1.7214 Close: 1.7199 Mid: 1.7199 | 8 |
9 | 10 Open: 1.7202 Close: 1.7220 Mid: 1.7204 | 11 Open: 1.7221 Close: 1.7238 Mid: 1.7223 | 12 Open: 1.7239 Close: 1.7241 Mid: 1.7263 | 13 Open: 1.7241 Close: 1.7244 Mid: 1.7236 | 14 Open: 1.7243 Close: 1.7169 Mid: 1.7198 | 15 |
16 | 17 Open: 1.7173 Close: 1.7176 Mid: 1.7156 | 18 Open: 1.7176 Close: 1.7168 Mid: 1.7169 | 19 Open: 1.7169 Close: 1.7182 Mid: 1.7180 | 20 Open: 1.7181 Close: 1.7143 Mid: 1.7166 | 21 Open: 1.7143 Close: 1.7130 Mid: 1.7126 | 22 |
23 | 24 Open: 1.7119 Close: 1.7161 Mid: 1.7145 | 25 Open: 1.7161 Close: 1.7184 Mid: 1.7175 | 26 Open: 1.7184 Close: 1.7144 Mid: 1.7168 | 27 Open: 1.7144 Close: 1.7170 Mid: 1.7162 | 28 Open: 1.7170 Close: 1.7148 Mid: 1.7143 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7133 Close: 1.7173 Mid: 1.7177 | 2 Open: 1.7173 Close: 1.7202 Mid: 1.7174 | 3 Open: 1.7201 Close: 1.7252 Mid: 1.7237 | 4 Open: 1.7252 Close: 1.7248 Mid: 1.7246 | 5 Open: 1.7249 Close: 1.7282 Mid: 1.7265 | 6 | |
7 | 8 Open: 1.7277 Close: 1.7288 Mid: 1.7296 | 9 Open: 1.7289 Close: 1.7272 Mid: 1.7289 | 10 Open: 1.7271 Close: 1.7330 Mid: 1.7298 | 11 Open: 1.7330 Close: 1.7343 Mid: 1.7361 | 12 Open: 1.7342 Close: 1.7416 Mid: 1.7377 | 13 |
14 | 15 Open: 1.7399 Close: 1.7426 Mid: 1.7418 | 16 Open: 1.7427 Close: 1.7441 Mid: 1.7429 | 17 Open: 1.7441 Close: 1.7440 Mid: 1.7444 | 18 Open: 1.7440 Close: 1.7396 Mid: 1.7422 | 19 Open: 1.7395 Close: 1.7372 Mid: 1.7378 | 20 |
21 | 22 Open: 1.7379 Close: 1.7407 Mid: 1.7387 | 23 Open: 1.7407 Close: 1.7369 Mid: 1.7376 | 24 Open: 1.7369 Close: 1.7340 Mid: 1.7348 | 25 Open: 1.7340 Close: 1.7263 Mid: 1.7306 | 26 Open: 1.7264 Close: 1.7277 Mid: 1.7275 | 27 |
28 | 29 Open: 1.7282 Close: 1.7279 Mid: 1.7251 | 30 Open: 1.7279 Close: 1.7229 Mid: 1.7258 | 31 Open: 1.7229 Close: 1.7174 Mid: 1.7200 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7175 Close: 1.7028 Mid: 1.7105 | 2 Open: 1.7029 Close: 1.6988 Mid: 1.6993 | 3 | ||||
4 | 5 Open: 1.7006 Close: 1.6934 Mid: 1.6918 | 6 Open: 1.6933 Close: 1.6821 Mid: 1.6883 | 7 Open: 1.6820 Close: 1.6851 Mid: 1.6857 | 8 Open: 1.6851 Close: 1.6900 Mid: 1.6843 | 9 Open: 1.6900 Close: 1.6892 Mid: 1.6878 | 10 |
11 | 12 Open: 1.6906 Close: 1.6905 Mid: 1.6910 | 13 Open: 1.6905 Close: 1.6949 Mid: 1.6931 | 14 Open: 1.6948 Close: 1.6886 Mid: 1.6920 | 15 Open: 1.6886 Close: 1.6999 Mid: 1.6945 | 16 Open: 1.6998 Close: 1.7036 Mid: 1.7018 | 17 |
18 | 19 Open: 1.7045 Close: 1.6993 Mid: 1.7011 | 20 Open: 1.6993 Close: 1.7009 Mid: 1.7010 | 21 Open: 1.7009 Close: 1.7093 Mid: 1.7054 | 22 Open: 1.7093 Close: 1.7159 Mid: 1.7126 | 23 Open: 1.7159 Close: 1.7197 Mid: 1.7185 | 24 |
25 | 26 Open: 1.7195 Close: 1.7194 Mid: 1.7198 | 27 Open: 1.7195 Close: 1.7256 Mid: 1.7229 | 28 Open: 1.7255 Close: 1.7194 Mid: 1.7223 | 29 Open: 1.7195 Close: 1.7159 Mid: 1.7174 | 30 Open: 1.7159 Close: 1.7149 Mid: 1.7153 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 1.7134 Close: 1.7183 Mid: 1.7163 | 3 Open: 1.7183 Close: 1.7143 Mid: 1.7167 | 4 Open: 1.7143 Close: 1.7144 Mid: 1.7145 | 5 Open: 1.7143 Close: 1.7136 Mid: 1.7129 | 6 Open: 1.7136 Close: 1.7101 Mid: 1.7117 | 7 |
8 | 9 Open: 1.7104 Close: 1.7070 Mid: 1.7096 | 10 Open: 1.7071 Close: 1.7066 Mid: 1.7077 | 11 Open: 1.7065 Close: 1.7010 Mid: 1.7018 | 12 Open: 1.7009 Close: 1.7079 Mid: 1.7043 | 13 Open: 1.7080 Close: 1.7031 Mid: 1.7064 | 14 |
15 | 16 Open: 1.7031 Close: 1.7119 Mid: 1.7076 | 17 Open: 1.7119 Close: 1.7069 Mid: 1.7087 | 18 Open: 1.7068 Close: 1.7113 Mid: 1.7086 | 19 Open: 1.7113 Close: 1.7159 Mid: 1.7136 | 20 Open: 1.7159 Close: 1.7195 Mid: 1.7173 | 21 |
22 | 23 Open: 1.7196 Close: 1.7227 Mid: 1.7185 | 24 Open: 1.7226 Close: 1.7215 Mid: 1.7218 | 25 Open: 1.7215 Close: 1.7185 Mid: 1.7197 | 26 Open: 1.7185 Close: 1.7214 Mid: 1.7193 | 27 Open: 1.7214 Close: 1.7131 Mid: 1.7178 | 28 |
29 | 30 Open: 1.7144 Close: 1.7187 Mid: 1.7165 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7187 Close: 1.7113 Mid: 1.7143 | 2 Open: 1.7114 Close: 1.7141 Mid: 1.7119 | 3 Open: 1.7140 Close: 1.7027 Mid: 1.7072 | 4 Open: 1.7028 Close: 1.7118 Mid: 1.7075 | 5 | ||
6 | 7 Open: 1.7092 Close: 1.7062 Mid: 1.7080 | 8 Open: 1.7062 Close: 1.7087 Mid: 1.7062 | 9 Open: 1.7087 Close: 1.7088 Mid: 1.7065 | 10 Open: 1.7088 Close: 1.7051 Mid: 1.7083 | 11 Open: 1.7051 Close: 1.7050 Mid: 1.7053 | 12 |
13 | 14 Open: 1.7074 Close: 1.7088 Mid: 1.7064 | 15 Open: 1.7088 Close: 1.7118 Mid: 1.7110 | 16 Open: 1.7118 Close: 1.7062 Mid: 1.7057 | 17 Open: 1.7061 Close: 1.7103 Mid: 1.7072 | 18 Open: 1.7102 Close: 1.7100 Mid: 1.7113 | 19 |
20 | 21 Open: 1.7121 Close: 1.7092 Mid: 1.7099 | 22 Open: 1.7093 Close: 1.7092 Mid: 1.7078 | 23 Open: 1.7091 Close: 1.7096 Mid: 1.7111 | 24 Open: 1.7096 Close: 1.7105 Mid: 1.7101 | 25 Open: 1.7105 Close: 1.7123 Mid: 1.7128 | 26 |
27 | 28 Open: 1.7123 Close: 1.7157 Mid: 1.7146 | 29 Open: 1.7157 Close: 1.7234 Mid: 1.7191 | 30 Open: 1.7234 Close: 1.7141 Mid: 1.7191 | 31 Open: 1.7141 Close: 1.7025 Mid: 1.7088 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.7024 Close: 1.7133 Mid: 1.7095 | 2 | |||||
3 | 4 Open: 1.7149 Close: 1.7100 Mid: 1.7104 | 5 Open: 1.7100 Close: 1.7137 Mid: 1.7117 | 6 Open: 1.7138 Close: 1.7167 Mid: 1.7169 | 7 Open: 1.7167 Close: 1.7144 Mid: 1.7158 | 8 Open: 1.7144 Close: 1.7123 Mid: 1.7138 | 9 |
10 | 11 Open: 1.7118 Close: 1.7163 Mid: 1.7137 | 12 Open: 1.7163 Close: 1.7059 Mid: 1.7109 | 13 Open: 1.7060 Close: 1.7063 Mid: 1.7045 | 14 Open: 1.7064 Close: 1.7053 Mid: 1.7053 | 15 Open: 1.7053 Close: 1.6941 Mid: 1.6990 | 16 |
17 | 18 Open: 1.6954 Close: 1.6974 Mid: 1.6957 | 19 Open: 1.6973 Close: 1.6961 Mid: 1.6949 | 20 Open: 1.6961 Close: 1.6991 Mid: 1.6993 | 21 Open: 1.6991 Close: 1.6951 Mid: 1.6971 | 22 Open: 1.6951 Close: 1.6875 Mid: 1.6905 | 23 |
24 | 25 Open: 1.6921 Close: 1.6917 Mid: 1.6925 | 26 Open: 1.6917 Close: 1.6930 Mid: 1.6926 | 27 Open: 1.6929 Close: 1.6997 Mid: 1.6960 | 28 Open: 1.6997 Close: 1.7041 Mid: 1.7018 | 29 Open: 1.7041 Close: 1.7060 Mid: 1.7028 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 1.7058 Close: 1.7019 Mid: 1.7057 | 3 Open: 1.7019 Close: 1.7044 Mid: 1.7037 | 4 Open: 1.7044 Close: 1.7071 Mid: 1.7048 | 5 Open: 1.7071 Close: 1.7081 Mid: 1.7073 | 6 Open: 1.7082 Close: 1.7109 Mid: 1.7094 | 7 |
8 | 9 Open: 1.7110 Close: 1.7091 Mid: 1.7103 | 10 Open: 1.7091 Close: 1.7139 Mid: 1.7105 | 11 Open: 1.7139 Close: 1.7142 Mid: 1.7125 | 12 Open: 1.7143 Close: 1.7069 Mid: 1.7115 | 13 Open: 1.7070 Close: 1.7021 Mid: 1.7048 | 14 |
15 | 16 Open: 1.7019 Close: 1.7120 Mid: 1.7077 | 17 Open: 1.7120 Close: 1.7160 Mid: 1.7139 | 18 Open: 1.7160 Close: 1.7140 Mid: 1.7160 | 19 Open: 1.7140 Close: 1.7024 Mid: 1.7115 | 20 Open: 1.7024 Close: 1.7032 Mid: 1.7023 | 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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