Live rate: 1 CHF = 1713.6003 NGN (-0.2949%)

Inverted: 1 NGN = 0.0006 CHF

Click here for our full travel and holiday rates comparison tool.

Comparison Results:

ProviderExchange RateFeeYou GetServiceNotesAction

Live Market Rate

1713.600301,696.4643
wise 1,713.60030.71%1,701.4337 Best Multi-Currency Card The UK's leading payment provider

Best Bank Rate

Banks
1,665.6195

(upper range)

Variable1,665.6195 Payments, transfers, holiday money Determined using data on spread charges supplied by IMTI

Worst Bank Rate

Banks
1,653.6243

(lower range)

Variable1,653.6243Payments, transfers, holiday money Determined using data on spread charges supplied by Money Mover and Accourt

Paypal

Paypal
1,636.488301,636.4883 International Payments and Transfers

CHF/NGN Live Chart and Data

Loading
For full historical data please visit: CHF/NGN exchange rate history pages for the year 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012

January - 2024

SunMonTueWedThuFriSat
1

Open: 1,065.2900

Close: 1,065.2900

Mid: 1,065.2900

2

Open: 1,065.6400

Close: 1,040.5000

Mid: 1,053.5200

3

Open: 1,040.5300

Close: 1,050.2700

Mid: 1,043.3500

4

Open: 1,050.3200

Close: 1,073.4500

Mid: 1,060.7550

5

Open: 1,073.1900

Close: 1,075.1600

Mid: 1,074.8700

6
7
8

Open: 1,077.0200

Close: 1,043.6200

Mid: 1,058.2550

9

Open: 1,046.2800

Close: 1,072.8000

Mid: 1,092.4750

10

Open: 1,072.8700

Close: 1,118.2400

Mid: 1,094.8650

11

Open: 1,118.2700

Close: 1,124.6800

Mid: 1,119.6900

12

Open: 1,124.6600

Close: 1,122.8800

Mid: 1,124.3250

13
14
15

Open: 1,123.9400

Close: 1,119.5800

Mid: 1,121.6100

16

Open: 1,119.5000

Close: 1,039.3800

Mid: 1,079.2500

17

Open: 1,039.2500

Close: 1,015.6000

Mid: 1,037.8250

18

Open: 1,009.5900

Close: 1,031.5800

Mid: 1,011.9240

19

Open: 1,031.5800

Close: 1,026.4300

Mid: 1,011.4550

20
21
22

Open: 1,026.0800

Close: 1,025.2300

Mid: 1,037.4450

23

Open: 1,025.1800

Close: 1,051.9600

Mid: 1,025.3835

24

Open: 1,052.0500

Close: 1,043.1000

Mid: 1,048.7100

25

Open: 1,043.2500

Close: 1,024.7000

Mid: 1,034.0950

26

Open: 1,024.8800

Close: 1,040.5300

Mid: 1,034.2300

27
28
29

Open: 1,039.9700

Close: 1,037.3400

Mid: 1,044.0500

30

Open: 1,037.4300

Close: 1,105.0900

Mid: 1,069.7450

31

Open: 1,105.2700

Close: 1,386.4200

Mid: 1,212.4900

February - 2024

SunMonTueWedThuFriSat
1

Open: 1,386.2900

Close: 1,392.4000

Mid: 1,387.8300

2

Open: 1,392.5500

Close: 1,615.2800

Mid: 1,498.6200

3
4
5

Open: 1,614.7800

Close: 1,607.7400

Mid: 1,496.2750

6

Open: 1,607.9300

Close: 1,618.8500

Mid: 1,616.6800

7

Open: 1,618.8700

Close: 1,621.2400

Mid: 1,620.2750

8

Open: 1,621.2900

Close: 1,606.9700

Mid: 1,616.0150

9

Open: 1,606.9500

Close: 1,600.5700

Mid: 1,631.0150

10
11
12

Open: 1,685.4800

Close: 1,716.9000

Mid: 1,702.7900

13

Open: 1,716.8000

Close: 1,708.3400

Mid: 1,682.4200

14

Open: 1,708.4000

Close: 1,711.9400

Mid: 1,701.4950

15

Open: 1,711.8900

Close: 1,724.1000

Mid: 1,718.1650

16

Open: 1,724.1500

Close: 1,695.5300

Mid: 1,711.7950

17
18
19

Open: 1,697.6800

Close: 1,693.3900

Mid: 1,714.2700

20

Open: 1,693.3600

Close: 1,821.0500

Mid: 1,758.2850

21

Open: 1,821.5000

Close: 1,826.8200

Mid: 1,815.0550

22

Open: 1,826.6900

Close: 1,825.3900

Mid: 1,825.4200

23

Open: 1,825.6800

Close: 1,823.5600

Mid: 1,823.4050

24
25
26

Open: 1,823.6300

Close: 1,754.8700

Mid: 1,789.8150

27

Open: 1,754.9700

Close: 1,797.3300

Mid: 1,775.4450

28

Open: 1,797.4100

Close: 1,855.3000

Mid: 1,811.6550

29

Open: 1,855.4900

Close: 1,828.5000

Mid: 1,822.8300

March - 2024

SunMonTueWedThuFriSat
1

Open: 1,828.5700

Close: 1,791.0700

Mid: 1,809.7050

2
3
4

Open: 1,784.2600

Close: 1,708.9500

Mid: 1,745.7550

5

Open: 1,708.9700

Close: 1,767.1500

Mid: 1,738.7200

6

Open: 1,766.9800

Close: 1,803.7000

Mid: 1,783.4700

7

Open: 1,803.7000

Close: 1,813.4000

Mid: 1,805.6850

8

Open: 1,813.3700

Close: 1,816.0100

Mid: 1,813.5650

9
10
11

Open: 1,817.5800

Close: 1,852.0800

Mid: 1,828.9700

12

Open: 1,852.0800

Close: 1,838.5600

Mid: 1,823.4200

13

Open: 1,838.5000

Close: 1,829.6700

Mid: 1,817.7650

14

Open: 1,829.6500

Close: 1,804.1100

Mid: 1,493.1450

15

Open: 1,804.1100

Close: 1,823.5500

Mid: 1,808.3150

16
17
18

Open: 1,824.3900

Close: 1,762.1000

Mid: 1,791.2500

19

Open: 1,762.1300

Close: 1,663.3400

Mid: 1,720.5200

20

Open: 1,663.3500

Close: 1,669.9900

Mid: 1,677.0350

21

Open: 1,670.0000

Close: 1,526.7500

Mid: 1,593.3900

22

Open: 1,526.8100

Close: 1,632.4800

Mid: 1,570.3550

23
24
25

Open: 1,630.7400

Close: 1,584.1700

Mid: 1,597.2650

26

Open: 1,584.1800

Close: 1,544.7700

Mid: 1,573.0550

27

Open: 1,544.7900

Close: 1,569.7100

Mid: 1,554.8000

28

Open: 1,569.7000

Close: 1,545.3200

Mid: 1,557.0050

29

Open: 1,545.3100

Close: 1,575.4100

Mid: 1,559.7400

30
31

April - 2024

SunMonTueWedThuFriSat
1

Open: 1,574.4500

Close: 1,444.8500

Mid: 1,509.8300

2

Open: 1,444.8600

Close: 1,426.2800

Mid: 1,446.9500

3

Open: 1,426.2400

Close: 1,461.4700

Mid: 1,423.7100

4

Open: 1,461.4600

Close: 1,464.0000

Mid: 1,460.5400

5

Open: 1,463.9600

Close: 1,383.3000

Mid: 1,424.0600

6
7
8

Open: 1,384.5500

Close: 1,371.4800

Mid: 1,405.3800

9

Open: 1,371.5000

Close: 1,381.9300

Mid: 1,375.8850

10

Open: 1,381.9500

Close: 1,358.2000

Mid: 1,368.6700

11

Open: 1,358.1600

Close: 1,365.1400

Mid: 1,361.7700

12

Open: 1,365.1900

Close: 1,315.0200

Mid: 1,338.2750

13
14
15

Open: 1,316.1400

Close: 1,264.7500

Mid: 1,287.5750

16

Open: 1,264.7900

Close: 1,257.0200

Mid: 1,264.9450

17

Open: 1,257.0900

Close: 1,264.0100

Mid: 1,256.4200

18

Open: 1,264.0200

Close: 1,261.9300

Mid: 1,264.2600

19

Open: 1,261.8700

Close: 1,146.6500

Mid: 1,208.9500

20
21
22

Open: 1,147.9900

Close: 1,352.7200

Mid: 1,251.3450

23

Open: 1,352.7100

Close: 1,352.6400

Mid: 1,359.6750

24

Open: 1,352.6300

Close: 1,370.2600

Mid: 1,379.9400

25

Open: 1,370.2800

Close: 1,405.2700

Mid: 1,387.4200

26

Open: 1,405.3200

Close: 1,428.2800

Mid: 1,417.9400

27
28
29

Open: 1,429.4400

Close: 1,490.3700

Mid: 1,459.8850

30

Open: 1,490.3400

Close: 1,511.7700

Mid: 1,501.9300

May - 2024

SunMonTueWedThuFriSat
1

Open: 1,511.7800

Close: 1,522.8700

Mid: 1,516.1250

2

Open: 1,522.8600

Close: 1,507.8500

Mid: 1,512.5850

3

Open: 1,507.7800

Close: 1,528.0700

Mid: 1,533.2600

4
5
6

Open: 1,526.3400

Close: 1,529.3100

Mid: 1,540.8350

7

Open: 1,529.3600

Close: 1,529.1000

Mid: 1,526.6150

8

Open: 1,529.0700

Close: 1,549.8900

Mid: 1,540.3750

9

Open: 1,549.8600

Close: 1,566.8100

Mid: 1,562.1600

10

Open: 1,566.8000

Close: 1,572.0000

Mid: 1,574.7300

11
12
13

Open: 1,572.7300

Close: 1,591.2200

Mid: 1,591.4800

14

Open: 1,591.2300

Close: 1,657.2900

Mid: 1,626.4000

15

Open: 1,657.3100

Close: 1,687.6100

Mid: 1,663.7750

16

Open: 1,687.5300

Close: 1,680.7100

Mid: 1,693.6850

17

Open: 1,680.7200

Close: 1,616.8700

Mid: 1,648.9800

18
19
20

Open: 1,617.0300

Close: 1,682.8700

Mid: 1,650.8450

21

Open: 1,682.8700

Close: 1,559.2500

Mid: 1,622.3900

22

Open: 1,559.2400

Close: 1,564.3200

Mid: 1,568.2900

23

Open: 1,564.3300

Close: 1,579.1300

Mid: 1,575.4400

24

Open: 1,579.1200

Close: 1,605.3500

Mid: 1,597.1400

25
26
27

Open: 1,606.2900

Close: 1,617.1400

Mid: 1,623.1700

28

Open: 1,617.1500

Close: 1,524.3800

Mid: 1,574.6300

29

Open: 1,524.3800

Close: 1,533.5800

Mid: 1,554.9800

30

Open: 1,533.5900

Close: 1,477.6000

Mid: 1,532.1900

31

Open: 1,477.6400

Close: 1,479.8200

Mid: 1,476.9050

June - 2024

SunMonTueWedThuFriSat
1
2
3

Open: 1,646.6300

Close: 1,659.9500

Mid: 1,651.9800

4

Open: 1,660.0100

Close: 1,650.4400

Mid: 1,657.5350

5

Open: 1,650.4700

Close: 1,676.2300

Mid: 1,663.5000

6

Open: 1,676.2200

Close: 1,682.5300

Mid: 1,678.5250

7

Open: 1,682.5100

Close: 1,641.2600

Mid: 1,660.9900

8
9
10

Open: 1,642.7100

Close: 1,675.2000

Mid: 1,663.9650

11

Open: 1,675.1800

Close: 1,675.4400

Mid: 1,664.9500

12

Open: 1,675.5500

Close: 1,682.6700

Mid: 1,677.5700

13

Open: 1,682.6700

Close: 1,683.8200

Mid: 1,671.9150

14

Open: 1,683.7900

Close: 1,680.0600

Mid: 1,672.6100

15
16
17

Open: 1,677.4500

Close: 1,667.2900

Mid: 1,670.9000

18

Open: 1,667.2600

Close: 1,685.6900

Mid: 1,679.6300

19

Open: 1,685.6500

Close: 1,684.5300

Mid: 1,696.7300

20

Open: 1,684.5400

Close: 1,670.6300

Mid: 1,675.9250

21

Open: 1,670.5900

Close: 1,676.3600

Mid: 1,670.4000

22
23
24

Open: 1,665.0200

Close: 1,714.4800

Mid: 1,689.1000

25

Open: 1,714.5100

Close: 1,716.5500

Mid: 1,716.1050

26

Open: 1,716.5500

Close: 1,716.1700

Mid: 1,706.1150

27

Open: 1,716.2500

Close: 1,713.7900

Mid: 1,716.3700

28

Open: 1,713.8000

Close: 1,708.3900

Mid: 1,710.3700

29
30

July - 2024

SunMonTueWedThuFriSat
1

Open: 1,710.8500

Close: 1,697.6700

Mid: 1,702.7550

2

Open: 1,697.6600

Close: 1,648.3800

Mid: 1,658.8350

3

Open: 1,648.3600

Close: 1,668.7200

Mid: 1,659.5050

4

Open: 1,670.5600

Close: 1,695.7400

Mid: 1,681.8500

5

Open: 1,695.7200

Close: 1,705.4600

Mid: 1,692.4150

6
7
8

Open: 1,704.2900

Close: 1,711.7300

Mid: 1,718.1600

9

Open: 1,711.6300

Close: 1,727.4500

Mid: 1,720.7300

10

Open: 1,727.4300

Close: 1,754.2200

Mid: 1,741.2300

11

Open: 1,754.2300

Close: 1,753.2500

Mid: 1,749.5250

12

Open: 1,753.2800

Close: 1,790.9700

Mid: 1,782.8300

13
14
15

Open: 1,788.9700

Close: 1,808.4500

Mid: 1,797.5000

16

Open: 1,808.4900

Close: 1,789.7900

Mid: 1,798.9450

17

Open: 1,789.7400

Close: 1,827.9900

Mid: 1,812.4850

18

Open: 1,828.0000

Close: 1,833.1500

Mid: 1,845.2450

19

Open: 1,833.2700

Close: 1,805.3300

Mid: 1,816.4800

20
21
22

Open: 1,807.0300

Close: 1,806.1500

Mid: 1,828.7050

23

Open: 1,806.1500

Close: 1,802.8200

Mid: 1,790.3650

24

Open: 1,802.8300

Close: 1,747.9300

Mid: 1,776.4200

25

Open: 1,748.0200

Close: 1,796.2600

Mid: 1,776.3700

26

Open: 1,797.2700

Close: 1,806.2700

Mid: 1,787.4450

27
28
29

Open: 1,807.4200

Close: 1,828.1500

Mid: 1,820.8700

30

Open: 1,828.1700

Close: 1,860.8500

Mid: 1,839.5800

31

Open: 1,860.8300

Close: 1,891.8000

Mid: 1,866.6700

August - 2024

SunMonTueWedThuFriSat
1

Open: 1,891.8000

Close: 1,902.3800

Mid: 1,897.4000

2

Open: 1,902.5300

Close: 1,888.4900

Mid: 1,893.1850

3
4
5

Open: 1,905.1000

Close: 1,870.2500

Mid: 1,899.2400

6

Open: 1,870.2300

Close: 1,871.8500

Mid: 1,868.1650

7

Open: 1,871.8400

Close: 1,864.4900

Mid: 1,855.1750

8

Open: 1,864.5300

Close: 1,844.9100

Mid: 1,846.3350

9

Open: 1,844.8900

Close: 1,872.1600

Mid: 1,850.3300

10
11
12

Open: 1,873.7600

Close: 1,837.6200

Mid: 1,832.8200

13

Open: 1,837.6400

Close: 1,838.7700

Mid: 1,837.9250

14

Open: 1,838.7800

Close: 1,837.7900

Mid: 1,839.3200

15

Open: 1,837.7900

Close: 1,821.8300

Mid: 1,822.4350

16

Open: 1,821.8400

Close: 1,835.9300

Mid: 1,830.9450

17
18
19

Open: 1,836.9000

Close: 1,851.5900

Mid: 1,843.8000

20

Open: 1,851.6000

Close: 1,844.2200

Mid: 1,846.7900

21

Open: 1,844.2100

Close: 1,850.7700

Mid: 1,846.7500

22

Open: 1,850.8100

Close: 1,848.6900

Mid: 1,851.5050

23

Open: 1,848.7200

Close: 1,857.7400

Mid: 1,852.7450

24
25
26

Open: 1,856.9400

Close: 1,876.4500

Mid: 1,865.0100

27

Open: 1,876.4800

Close: 1,889.4600

Mid: 1,880.4300

28

Open: 1,889.4200

Close: 1,887.5200

Mid: 1,887.8650

29

Open: 1,887.5200

Close: 1,879.3000

Mid: 1,882.7250

30

Open: 1,879.2500

Close: 1,871.0900

Mid: 1,873.2450

31

September - 2024

SunMonTueWedThuFriSat
1
2

Open: 1,879.2500

Close: 1,871.0900

Mid: 1,873.2450

3

Open: 1,879.2500

Close: 1,871.0900

Mid: 1,873.2450

4

Open: 1,879.2500

Close: 1,871.0900

Mid: 1,873.2450

5
6
7
8
9

Open: 1,903.4100

Close: 1,939.8300

Mid: 1,919.8100

10

Open: 1,939.8000

Close: 1,942.5000

Mid: 1,941.4350

11

Open: 1,942.4400

Close: 1,941.9100

Mid: 1,948.9000

12

Open: 1,941.9200

Close: 1,945.0500

Mid: 1,929.9300

13

Open: 1,945.0200

Close: 1,930.3600

Mid: 1,930.0700

14
15
16

Open: 1,945.0200

Close: 1,930.3600

Mid: 1,930.0700

17

Open: 1,945.0200

Close: 1,930.3600

Mid: 1,930.0700

18

Open: 1,945.0200

Close: 1,930.3600

Mid: 1,930.0700

19
20
21
22
23

Open: 1,927.7500

Close: 1,933.1400

Mid: 1,918.4800

24

Open: 1,933.1600

Close: 1,914.0200

Mid: 1,917.5500

25

Open: 1,914.0300

Close: 1,950.9600

Mid: 1,931.7600

26

Open: 1,951.0200

Close: 1,953.6600

Mid: 1,952.3450

27

Open: 1,953.6600

Close: 1,985.0900

Mid: 1,966.7300

28
29
30

Open: 1,981.6800

Close: 1,974.3000

Mid: 1,979.9850

October - 2024

SunMonTueWedThuFriSat
1

Open: 1,974.3100

Close: 1,970.3800

Mid: 1,974.1850

2

Open: 1,970.4200

Close: 1,966.5200

Mid: 1,970.3600

3

Open: 1,966.4900

Close: 1,928.8200

Mid: 1,952.5150

4

Open: 1,928.8400

Close: 1,893.4600

Mid: 1,918.3450

5
6
7

Open: 1,906.3600

Close: 1,895.5700

Mid: 1,913.5300

8

Open: 1,895.5800

Close: 1,889.8400

Mid: 1,908.4300

9

Open: 1,889.8500

Close: 1,881.9000

Mid: 1,880.0450

10

Open: 1,881.9200

Close: 1,892.4300

Mid: 1,881.0500

11

Open: 1,892.3800

Close: 1,890.0500

Mid: 1,889.7600

12
13
14

Open: 1,912.4800

Close: 1,895.7500

Mid: 1,893.9450

15

Open: 1,895.7400

Close: 1,896.0700

Mid: 1,894.7450

16

Open: 1,896.1200

Close: 1,888.8600

Mid: 1,896.3300

17

Open: 1,888.8700

Close: 1,887.7700

Mid: 1,889.8550

18

Open: 1,887.8000

Close: 1,890.3700

Mid: 1,888.7650

19
20
21

Open: 1,890.0600

Close: 1,892.1000

Mid: 1,894.1100

22

Open: 1,892.1100

Close: 1,904.2800

Mid: 1,899.4250

23

Open: 1,904.2700

Close: 1,896.7800

Mid: 1,897.2250

24

Open: 1,896.7300

Close: 1,900.2300

Mid: 1,897.6900

25

Open: 1,900.2600

Close: 1,897.7400

Mid: 1,904.6550

26
27
28

Open: 1,895.9600

Close: 1,898.3700

Mid: 1,895.0750

29

Open: 1,898.3800

Close: 1,899.8400

Mid: 1,916.7750

30

Open: 1,899.8500

Close: 1,900.1800

Mid: 1,896.9250

31

Open: 1,900.1700

Close: 1,902.2900

Mid: 1,899.4950

November - 2024

SunMonTueWedThuFriSat
1

Open: 1,902.3300

Close: 1,889.1400

Mid: 1,895.4650

2
3
4

Open: 1,899.0900

Close: 1,901.9600

Mid: 1,901.4400

5

Open: 1,902.0000

Close: 1,924.5700

Mid: 1,913.8700

6

Open: 1,924.6000

Close: 1,909.1000

Mid: 1,911.7500

7

Open: 1,909.1000

Close: 1,927.3500

Mid: 1,917.5800

8

Open: 1,927.3600

Close: 1,904.5600

Mid: 1,917.6600

9
10
11

Open: 1,905.5300

Close: 1,899.5700

Mid: 1,920.5150

12

Open: 1,899.5900

Close: 1,897.4000

Mid: 1,897.8950

13

Open: 1,897.3900

Close: 1,893.2400

Mid: 1,897.7700

14

Open: 1,893.2200

Close: 1,886.5100

Mid: 1,893.0250

15

Open: 1,886.5700

Close: 1,874.4200

Mid: 1,881.9050

16
17
18

Open: 1,874.5700

Close: 1,888.9400

Mid: 1,894.8300

19

Open: 1,888.9100

Close: 1,903.3000

Mid: 1,897.0400

20

Open: 1,903.2700

Close: 1,902.9400

Mid: 1,896.3550

21

Open: 1,902.9700

Close: 1,910.4800

Mid: 1,905.2800

22

Open: 1,910.4800

Close: 1,897.6600

Mid: 1,903.7250

23
24
25

Open: 1,903.9200

Close: 1,898.6700

Mid: 1,901.9300

26

Open: 1,898.6800

Close: 1,908.7000

Mid: 1,900.2800

27

Open: 1,908.7400

Close: 1,916.2000

Mid: 1,911.9950

28

Open: 1,916.2300

Close: 1,909.7400

Mid: 1,911.0050

29

Open: 1,909.7100

Close: 1,911.2500

Mid: 1,902.8550

30

December - 2024

SunMonTueWedThuFriSat
1
2

Open: 1,913.4200

Close: 1,891.0800

Mid: 1,892.4100

3

Open: 1,891.0700

Close: 1,870.7200

Mid: 1,878.3300

4

Open: 1,870.7300

Close: 1,840.7000

Mid: 1,856.4250

5

Open: 1,840.7300

Close: 1,828.2300

Mid: 1,828.9050

6

Open: 1,828.2600

Close: 1,797.0700

Mid: 1,814.6050

7
8
9

Open: 1,796.3200

Close: 1,791.8700

Mid: 1,794.8900

10

Open: 1,791.8600

Close: 1,786.5600

Mid: 1,789.7700

11

Open: 1,786.5600

Close: 1,751.8700

Mid: 1,770.4650

12

Open: 1,751.8900

Close: 1,735.5800

Mid: 1,743.2000

13

Open: 1,735.5900

Close: 1,734.4600

Mid: 1,735.6250

14
15
16

Open: 1,732.9100

Close: 1,724.5300

Mid: 1,729.4000

17

Open: 1,724.5600

Close: 1,739.9600

Mid: 1,729.9900

18

Open: 1,739.9500

Close: 1,727.3400

Mid: 1,734.5800

19

Open: 1,727.2900

Close: 1,728.5000

Mid: 1,731.9500

20

Open: 1,728.5100

Close: 1,735.2400

Mid: 1,735.8900

21
22
23

Open: 1,735.4600

Close: 1,723.7600

Mid: 1,728.5350

24

Open: 1,723.7500

Close: 1,718.6700

Mid: 1,720.2800

25

Open: 1,723.7500

Close: 1,718.6700

Mid: 1,720.2800

26

Open: 1,718.2000

Close: 1,712.8700

Mid: 1,715.7050

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.

Why

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.

Safety is Everything

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.