Best British Pound / Icelandic Krona Exchange Rate Today: 174.9100
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 174.3853, and the most competitive travel money / cash rates start at approximately 160.9782.
Live rate: 1 GBP = 174.9100 ISK (-0.02% )
Inverted: 1 ISK = 0.0057 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 | 174.9100 | 0 | 173.1609 | |||
 | 174.3853 (indicative) | 0 | 174.3853 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
 | 173.6856 (indicative) | 0 | 173.6856 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
 | 174.9100 | 0.93% | 173.2833 | 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. | |
 | 160.9782 | 0 | 160.9782 | 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. | |
 | 167.1993 | 0 | 167.1993 | 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. | |
Best Bank Rate  | 170.0125 (upper range) | Variable | 170.0125 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 168.7882 (lower range) | Variable | 168.7882 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 167.0391 | 0 | 167.0391 | International Payments and Transfers |
GBP/ISK Live Chart and Data
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 36.3717 Close: 36.4613 Mid: 36.4959 | 2 Open: 36.4624 Close: 36.3845 Mid: 36.3051 | 3 Open: 36.3869 Close: 36.6214 Mid: 36.3813 | 4 Open: 36.6471 Close: 36.5901 Mid: 36.6142 | 5 Open: 36.5670 Close: 36.4119 Mid: 36.4351 | 6 | |
7 | 8 Open: 36.4546 Close: 36.4504 Mid: 36.4698 | 9 Open: 36.4582 Close: 36.4512 Mid: 36.5009 | 10 Open: 36.4529 Close: 36.5558 Mid: 36.5023 | 11 Open: 36.5678 Close: 36.4627 Mid: 36.4439 | 12 Open: 36.4615 Close: 36.4671 Mid: 36.5204 | 13 |
14 | 15 Open: 36.5139 Close: 36.5531 Mid: 36.5923 | 16 Open: 36.5301 Close: 36.5254 Mid: 36.5748 | 17 Open: 36.5370 Close: 36.5326 Mid: 36.5297 | 18 Open: 36.5426 Close: 36.3340 Mid: 36.4062 | 19 Open: 36.3353 Close: 36.1681 Mid: 36.2444 | 20 |
21 | 22 Open: 36.1819 Close: 36.0690 Mid: 36.1105 | 23 Open: 36.0685 Close: 36.0997 Mid: 36.1140 | 24 Open: 36.1001 Close: 36.2856 Mid: 36.2176 | 25 Open: 36.2891 Close: 36.1122 Mid: 36.1982 | 26 Open: 36.1327 Close: 36.2086 Mid: 36.1706 | 27 |
28 | 29 Open: 36.1936 Close: 36.2089 Mid: 36.2023 | 30 Open: 36.2073 Close: 36.1498 Mid: 36.1499 | 31 Open: 36.1575 Close: 36.3155 Mid: 36.3065 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 36.3021 Close: 36.4277 Mid: 36.3722 | 2 Open: 36.4293 Close: 36.2167 Mid: 36.3311 | 3 | ||||
4 | 5 Open: 36.1973 Close: 36.0656 Mid: 36.0968 | 6 Open: 36.0628 Close: 36.0006 Mid: 35.9782 | 7 Open: 35.9830 Close: 35.8861 Mid: 35.9068 | 8 Open: 35.8919 Close: 35.9102 Mid: 35.9188 | 9 Open: 35.9084 Close: 35.8768 Mid: 35.8694 | 10 |
11 | 12 Open: 35.8566 Close: 35.7976 Mid: 35.8685 | 13 Open: 35.8002 Close: 35.5791 Mid: 35.6805 | 14 Open: 35.5758 Close: 35.4527 Mid: 35.5217 | 15 Open: 35.4530 Close: 35.6035 Mid: 35.5312 | 16 Open: 35.6016 Close: 35.5736 Mid: 35.5950 | 17 |
18 | 19 Open: 35.6244 Close: 35.5907 Mid: 35.6373 | 20 Open: 35.5913 Close: 35.6617 Mid: 35.6539 | 21 Open: 35.6582 Close: 35.8125 Mid: 35.7503 | 22 Open: 35.8134 Close: 35.8144 Mid: 35.8618 | 23 Open: 35.8195 Close: 35.8648 Mid: 35.8413 | 24 |
25 | 26 Open: 35.8554 Close: 35.8911 Mid: 35.8512 | 27 Open: 35.8872 Close: 35.9810 Mid: 35.9084 | 28 Open: 35.9860 Close: 36.0110 Mid: 35.9675 | 29 Open: 36.0190 Close: 35.7782 Mid: 35.9170 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 35.7747 Close: 35.7564 Mid: 35.6940 | 2 | |||||
3 | 4 Open: 35.7016 Close: 35.6714 Mid: 35.6808 | 5 Open: 35.6714 Close: 35.7553 Mid: 35.6796 | 6 Open: 35.7552 Close: 35.7245 Mid: 35.6973 | 7 Open: 35.7242 Close: 35.8487 Mid: 35.7949 | 8 Open: 35.8475 Close: 35.7952 Mid: 35.7951 | 9 |
10 | 11 Open: 35.8309 Close: 35.8112 Mid: 35.8175 | 12 Open: 35.8106 Close: 35.8707 Mid: 35.8339 | 13 Open: 35.8707 Close: 35.8006 Mid: 35.7989 | 14 Open: 35.8008 Close: 35.7284 Mid: 35.7967 | 15 Open: 35.7280 Close: 35.7783 Mid: 35.7493 | 16 |
17 | 18 Open: 35.7952 Close: 35.6829 Mid: 35.7436 | 19 Open: 35.6829 Close: 35.7855 Mid: 35.7886 | 20 Open: 35.7855 Close: 35.8704 Mid: 35.7937 | 21 Open: 35.8707 Close: 35.5633 Mid: 35.6589 | 22 Open: 35.5633 Close: 35.6192 Mid: 35.5921 | 23 |
24 | 25 Open: 35.5959 Close: 35.4025 Mid: 35.4552 | 26 Open: 35.4022 Close: 35.3099 Mid: 35.3592 | 27 Open: 35.3111 Close: 35.3981 Mid: 35.3403 | 28 Open: 35.3987 Close: 35.4854 Mid: 35.4157 | 29 Open: 35.4842 Close: 35.4420 Mid: 35.4590 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 35.4090 Close: 35.4258 Mid: 35.4319 | 2 Open: 35.4261 Close: 35.3105 Mid: 35.3653 | 3 Open: 35.3102 Close: 35.4695 Mid: 35.3448 | 4 Open: 35.4686 Close: 35.5889 Mid: 35.4478 | 5 Open: 35.5889 Close: 35.6162 Mid: 35.5479 | 6 | |
7 | 8 Open: 35.6824 Close: 35.4364 Mid: 35.5335 | 9 Open: 35.4367 Close: 35.4326 Mid: 35.4757 | 10 Open: 35.4326 Close: 35.2615 Mid: 35.3266 | 11 Open: 35.2615 Close: 35.4088 Mid: 35.3258 | 12 Open: 35.4092 Close: 35.3244 Mid: 35.4589 | 13 |
14 | 15 Open: 35.4244 Close: 35.5783 Mid: 35.4655 | 16 Open: 35.5783 Close: 35.6463 Mid: 35.6046 | 17 Open: 35.6466 Close: 35.5756 Mid: 35.6119 | 18 Open: 35.5764 Close: 35.6012 Mid: 35.5939 | 19 Open: 35.6015 Close: 35.7367 Mid: 35.8686 | 20 |
21 | 22 Open: 35.7659 Close: 35.7613 Mid: 35.8061 | 23 Open: 35.7631 Close: 35.7039 Mid: 35.7427 | 24 Open: 35.7036 Close: 35.6905 Mid: 35.6713 | 25 Open: 35.6908 Close: 35.6969 Mid: 35.6711 | 26 Open: 35.6984 Close: 35.6442 Mid: 35.6913 | 27 |
28 | 29 Open: 35.6979 Close: 35.7042 Mid: 35.7125 | 30 Open: 35.7033 Close: 35.4734 Mid: 35.6250 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 35.4737 Close: 35.5050 Mid: 35.4059 | 2 Open: 35.5053 Close: 35.5554 Mid: 35.5493 | 3 Open: 35.5557 Close: 35.6801 Mid: 35.6677 | 4 | |||
5 | 6 Open: 35.6387 Close: 35.6481 Mid: 35.6861 | 7 Open: 35.6484 Close: 35.6826 Mid: 35.6926 | 8 Open: 35.6814 Close: 35.6589 Mid: 35.6620 | 9 Open: 35.6592 Close: 35.7558 Mid: 35.6881 | 10 Open: 35.7561 Close: 35.7949 Mid: 35.7415 | 11 |
12 | 13 Open: 35.8117 Close: 35.6904 Mid: 35.7412 | 14 Open: 35.6901 Close: 35.6747 Mid: 35.6798 | 15 Open: 35.6750 Close: 35.5774 Mid: 35.5492 | 16 Open: 35.5780 Close: 35.5065 Mid: 35.5602 | 17 Open: 35.5068 Close: 35.3955 Mid: 35.4348 | 18 |
19 | 20 Open: 35.4181 Close: 35.4304 Mid: 35.4283 | 21 Open: 35.4304 Close: 35.4506 Mid: 35.4498 | 22 Open: 35.4515 Close: 35.2411 Mid: 35.3496 | 23 Open: 35.2403 Close: 35.2936 Mid: 35.2864 | 24 Open: 35.2936 Close: 35.2557 Mid: 35.2552 | 25 |
26 | 27 Open: 35.2803 Close: 35.1892 Mid: 35.1899 | 28 Open: 35.1901 Close: 35.3205 Mid: 35.2858 | 29 Open: 35.3217 Close: 35.4656 Mid: 35.4228 | 30 Open: 35.4656 Close: 35.8638 Mid: 35.6430 | 31 Open: 35.8644 Close: 35.9942 Mid: 35.9158 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 35.9857 Close: 36.0764 Mid: 35.9598 | 4 Open: 36.0779 Close: 36.3404 Mid: 36.2333 | 5 Open: 36.3407 Close: 36.1646 Mid: 36.2716 | 6 Open: 36.1646 Close: 36.2848 Mid: 36.2301 | 7 Open: 36.2848 Close: 36.1527 Mid: 36.2045 | 8 |
9 | 10 Open: 36.1766 Close: 36.0975 Mid: 36.1376 | 11 Open: 36.0978 Close: 36.0687 Mid: 36.1044 | 12 Open: 36.0687 Close: 36.0838 Mid: 36.1377 | 13 Open: 36.0841 Close: 36.2085 Mid: 36.1491 | 14 Open: 36.2088 Close: 36.3570 Mid: 36.2981 | 15 |
16 | 17 Open: 36.3009 Close: 36.3815 Mid: 36.3251 | 18 Open: 36.3812 Close: 36.5908 Mid: 36.5093 | 19 Open: 36.5905 Close: 36.6187 Mid: 36.5854 | 20 Open: 36.6191 Close: 36.3266 Mid: 36.4629 | 21 Open: 36.3266 Close: 36.1936 Mid: 36.2578 | 22 |
23 | 24 Open: 36.2417 Close: 36.2579 Mid: 36.2203 | 25 Open: 36.2585 Close: 36.3012 Mid: 36.2883 | 26 Open: 36.3012 Close: 36.2885 Mid: 36.3047 | 27 Open: 36.2892 Close: 36.2298 Mid: 36.3008 | 28 Open: 36.2298 Close: 36.1842 Mid: 36.1177 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 36.2709 Close: 36.0679 Mid: 36.1722 | 2 Open: 36.0679 Close: 36.0575 Mid: 36.0632 | 3 Open: 36.0575 Close: 36.1533 Mid: 36.1180 | 4 Open: 36.1557 Close: 36.1159 Mid: 36.0998 | 5 Open: 36.1150 Close: 36.1811 Mid: 36.0959 | 6 | |
7 | 8 Open: 36.2127 Close: 36.1881 Mid: 36.2202 | 9 Open: 36.1781 Close: 36.2681 Mid: 36.2833 | 10 Open: 36.2678 Close: 36.2583 Mid: 36.2565 | 11 Open: 36.2586 Close: 36.1957 Mid: 36.2376 | 12 Open: 36.1957 Close: 36.3745 Mid: 36.2857 | 13 |
14 | 15 Open: 36.4346 Close: 36.4251 Mid: 36.3853 | 16 Open: 36.4260 Close: 36.4660 Mid: 36.4159 | 17 Open: 36.4669 Close: 36.8621 Mid: 36.6455 | 18 Open: 36.8626 Close: 36.8326 Mid: 36.8845 | 19 Open: 36.8338 Close: 36.9002 Mid: 36.8628 | 20 |
21 | 22 Open: 36.9181 Close: 36.9111 Mid: 36.9595 | 23 Open: 36.9108 Close: 36.7846 Mid: 36.8447 | 24 Open: 36.7852 Close: 36.9763 Mid: 36.8933 | 25 Open: 36.9758 Close: 37.1303 Mid: 37.0936 | 26 Open: 37.1303 Close: 37.1328 Mid: 37.1319 | 27 |
28 | 29 Open: 37.1713 Close: 37.0896 Mid: 37.1420 | 30 Open: 37.0908 Close: 37.2099 Mid: 37.1317 | 31 Open: 37.2096 Close: 37.2466 Mid: 37.2906 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 37.2466 Close: 37.5627 Mid: 37.4614 | 2 Open: 37.5620 Close: 38.0246 Mid: 37.8393 | 3 | ||||
4 | 5 Open: 37.9814 Close: 38.3736 Mid: 38.3370 | 6 Open: 38.3727 Close: 38.4959 Mid: 38.3735 | 7 Open: 38.4937 Close: 37.9065 Mid: 38.0380 | 8 Open: 37.9069 Close: 37.4487 Mid: 37.6549 | 9 Open: 37.4497 Close: 37.5001 Mid: 37.4185 | 10 |
11 | 12 Open: 37.4952 Close: 37.4891 Mid: 37.3791 | 13 Open: 37.4888 Close: 37.4071 Mid: 37.3562 | 14 Open: 37.4074 Close: 37.2872 Mid: 37.3301 | 15 Open: 37.2878 Close: 37.1449 Mid: 37.1142 | 16 Open: 37.1449 Close: 37.1550 Mid: 37.1814 | 17 |
18 | 19 Open: 37.2177 Close: 37.0358 Mid: 36.9579 | 20 Open: 37.0353 Close: 37.3663 Mid: 37.0911 | 21 Open: 37.3659 Close: 37.5114 Mid: 37.3421 | 22 Open: 37.5105 Close: 37.5308 Mid: 37.4739 | 23 Open: 37.5303 Close: 37.5268 Mid: 37.4884 | 24 |
25 | 26 Open: 37.5311 Close: 37.5987 Mid: 37.5699 | 27 Open: 37.5978 Close: 37.9132 Mid: 37.5870 | 28 Open: 37.9120 Close: 37.9741 Mid: 37.9535 | 29 Open: 37.9732 Close: 37.6329 Mid: 37.8051 | 30 Open: 37.6325 Close: 37.6194 Mid: 37.5736 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 37.6212 Close: 37.6459 Mid: 37.6409 | 3 Open: 37.6465 Close: 37.7606 Mid: 37.7114 | 4 Open: 37.7609 Close: 37.9454 Mid: 37.8227 | 5 Open: 37.9458 Close: 37.9740 Mid: 37.8266 | 6 Open: 37.9727 Close: 38.0051 Mid: 37.9207 | 7 |
8 | 9 Open: 38.0127 Close: 37.8199 Mid: 37.9014 | 10 Open: 37.8220 Close: 38.0046 Mid: 37.9558 | 11 Open: 38.0039 Close: 37.7154 Mid: 37.9209 | 12 Open: 37.7154 Close: 37.7141 Mid: 37.6209 | 13 Open: 37.7146 Close: 37.6291 Mid: 37.7359 | 14 |
15 | 16 Open: 37.6964 Close: 37.7345 Mid: 37.6747 | 17 Open: 37.7349 Close: 37.7078 Mid: 37.6451 | 18 Open: 37.7064 Close: 37.8281 Mid: 37.7440 | 19 Open: 37.8278 Close: 37.6591 Mid: 37.6439 | 20 Open: 37.6594 Close: 37.6176 Mid: 37.5901 | 21 |
22 | 23 Open: 37.6264 Close: 37.8118 Mid: 37.7303 | 24 Open: 37.8127 Close: 37.7670 Mid: 37.7209 | 25 Open: 37.7558 Close: 37.6334 Mid: 37.6806 | 26 Open: 37.6346 Close: 37.4325 Mid: 37.5536 | 27 Open: 37.4375 Close: 37.5803 Mid: 37.4530 | 28 |
29 | 30 Open: 37.5147 Close: 37.5733 Mid: 37.5705 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 37.5727 Close: 37.6852 Mid: 37.6728 | 2 Open: 37.6846 Close: 37.6068 Mid: 37.6435 | 3 Open: 37.6065 Close: 37.5716 Mid: 37.7058 | 4 Open: 37.5725 Close: 37.6310 Mid: 37.6263 | 5 | ||
6 | 7 Open: 37.6399 Close: 37.6606 Mid: 37.6330 | 8 Open: 37.6606 Close: 37.6043 Mid: 37.6367 | 9 Open: 37.6043 Close: 37.5059 Mid: 37.5496 | 10 Open: 37.5059 Close: 37.6589 Mid: 37.5917 | 11 Open: 37.6582 Close: 37.5019 Mid: 37.5435 | 12 |
13 | 14 Open: 37.4828 Close: 37.3045 Mid: 37.4092 | 15 Open: 37.3054 Close: 37.3878 Mid: 37.3234 | 16 Open: 37.3881 Close: 37.1990 Mid: 37.3406 | 17 Open: 37.1987 Close: 37.1021 Mid: 37.1364 | 18 Open: 37.1019 Close: 37.0689 Mid: 37.0658 | 19 |
20 | 21 Open: 37.0744 Close: 37.0965 Mid: 37.0340 | 22 Open: 37.0965 Close: 37.0450 Mid: 37.0335 | 23 Open: 37.0463 Close: 37.0252 Mid: 37.0210 | 24 Open: 37.0257 Close: 37.0590 Mid: 37.0097 | 25 Open: 37.0596 Close: 37.0092 Mid: 36.9962 | 26 |
27 | 28 Open: 36.9375 Close: 37.1108 Mid: 37.0186 | 29 Open: 37.1113 Close: 36.9943 Mid: 37.0030 | 30 Open: 36.9948 Close: 36.8704 Mid: 36.9202 | 31 Open: 36.8710 Close: 36.9702 Mid: 36.9312 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 36.9714 Close: 36.7429 Mid: 36.7823 | 2 | |||||
3 | 4 Open: 36.7169 Close: 36.9563 Mid: 36.8639 | 5 Open: 36.9572 Close: 36.9702 Mid: 36.8891 | 6 Open: 36.9702 Close: 36.8966 Mid: 36.8479 | 7 Open: 36.8987 Close: 36.7991 Mid: 36.8679 | 8 Open: 36.7988 Close: 36.8263 Mid: 36.6953 | 9 |
10 | 11 Open: 36.8827 Close: 36.7806 Mid: 36.8233 | 12 Open: 36.7809 Close: 36.8054 Mid: 36.7680 | 13 Open: 36.8045 Close: 36.6487 Mid: 36.7345 | 14 Open: 36.6469 Close: 36.6264 Mid: 36.6729 | 15 Open: 36.6253 Close: 36.5828 Mid: 36.6104 | 16 |
17 | 18 Open: 36.5502 Close: 36.7842 Mid: 36.6980 | 19 Open: 36.7848 Close: 36.6882 Mid: 36.7752 | 20 Open: 36.6878 Close: 36.7686 Mid: 36.7161 | 21 Open: 36.7683 Close: 36.7150 Mid: 36.8144 | 22 Open: 36.7150 Close: 36.4309 Mid: 36.6361 | 23 |
24 | 25 Open: 36.4074 Close: 36.6032 Mid: 36.5785 | 26 Open: 36.6034 Close: 36.6538 Mid: 36.5458 | 27 Open: 36.6529 Close: 36.8246 Mid: 36.7587 | 28 Open: 36.8259 Close: 36.8819 Mid: 36.8185 | 29 Open: 36.8819 Close: 36.8338 Mid: 36.8895 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 36.8664 Close: 36.7863 Mid: 36.8007 | 3 Open: 36.7872 Close: 36.7244 Mid: 36.7869 | 4 Open: 36.7238 Close: 36.6540 Mid: 36.6869 | 5 Open: 36.6546 Close: 36.8358 Mid: 36.6931 | 6 Open: 36.8361 Close: 36.8821 Mid: 36.8957 | 7 |
8 | 9 Open: 36.8863 Close: 36.9029 Mid: 36.9021 | 10 Open: 36.9026 Close: 36.8511 Mid: 36.8816 | 11 Open: 36.8507 Close: 36.7547 Mid: 36.8018 | 12 Open: 36.7559 Close: 36.4581 Mid: 36.6392 | 13 Open: 36.4581 Close: 36.4181 Mid: 36.4356 | 14 |
15 | 16 Open: 36.4091 Close: 36.3337 Mid: 36.3954 | 17 Open: 36.3344 Close: 36.4363 Mid: 36.3132 | 18 Open: 36.4366 Close: 36.2543 Mid: 36.3059 | 19 Open: 36.2531 Close: 36.3160 Mid: 36.3428 | 20 Open: 36.3160 Close: 36.5208 Mid: 36.5084 | 21 |
22 | 23 Open: 36.5348 Close: 36.3835 Mid: 36.5040 | 24 Open: 36.3832 Close: 36.3138 Mid: 36.3284 | 25 Open: 36.3832 Close: 36.3138 Mid: 36.3284 | 26 Open: 36.3138 Close: 36.3495 Mid: 36.3798 | 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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