Bank Exchange Rates | Compare Currency Exchange Rates
Bank Exchange Rates offer a currency exchange website, which provides you with daily rate updates on how the foreign exchange rates are moving, as well as the foreign exchange market. It then compares money transfer companies that can offer you the best foreign exchange rates.
Banks or currency exchange companies? On a typical purchase for buying a property overseas at £150,000. Exchange into euros on a single currency exchange, you could be losing over £9800. That's how much banks make when you are exchanging international money transfers with them.
Bank Exchange Rates at Today's currency rates
Plus using a high street bank there will be transfer charges and it will take longer to send your money by bank payment, especially if you are buying exotic currencies which you will get anywhere from 8% to 15% less currency. As billions of pounds and other currencies are traded every hour. International money transfers range from consumers using for personal use to buy a property abroad to businesses of all sizes, such as sole traders, small to medium sized businesses transferring money ranging from hundreds of pounds to millions of pounds daily.
5% better currency exchange rates when using Bank Exchange Rates website
Bank exchange rates comparison site gives free live interbank rates. Our website is based on providing money transfer information and the latest news about the currency exchange industry and what can affect the foreign exchange rate. Our currency calculator will give you an indication on what sort of exchange rate you can get compared to using your bank. Compare money transfer companies using our comparative tools to see what they can offer you.
How much do Banks make on My Currency Transfer?
On a typical purchase for buying a property overseas at £150,000. Banks will make on average an extra £9800 on my currency transfer exchange. That just based on the currency exchange rate and not banking fees both ways that are charged on exchanging international money transfers with them. Consumers and businesses are currently overpaying billions of pounds a year to banks on making international money transfers payments and that's based on buying a property abroad to all types of businesses transferring money ranging from hundreds of pounds to millions of pounds daily.
Fees charged when making International money transfers
Making a standard money transfer payment where you can transfer any amount, any currency pairs to any country change dramatically depending on completing the correct know your custom (KYC) process. This way an international money transfer can be tracked from start to finish. Plus if you are completing an instant transfer using a currency broker it can take up to 4 days using a bank taking into account local variations. Note a transfer fee differs depending on the bank you choose ranging from £10 to £35 but depends on you providing the bank with country and recipient's bank details.
In most cases, it is not the cost of the transfer consumers and businesses worry about, it is the timescales. Based on a poll 85% would pay a fee to ensure the money arrives the same day and to ensure their money is secure. People and businesses want transfers done instantly and expect it. Security and speed are everything so to help the process, provide currency exchange brokers with BIC codes which can be found on your bank statements this takes into consideration local banking variations.
Bank Exchanging Rates Comparison
- Live Interbank Rates. - Offering full control & transparency with currency rates and dynamic pricing. Compare live interbank exchange rates today.
- 197 Countries and 48 Currencies. - Pick a currency provider that can exchange most currencies. This will ensure you get a better rate due to their trading volumes.
- Low Fees Or No Fees. - No transfer fee but if you have to pay to ensure its a low flat fee of £7 per transfer. It should be free if you're spending £5,000 or more.
- Booking currency should take a few clicks. - Opening an account should be painless and easy to do. Most offer 24/7 online or over the phone.
- Currency Account Managers. - You get an account manager that is knowledgeable in the currency markets and offer non-jargon information on how to transfer money 24/7.
- Fast, Safe, Secure, and Instant. - Once you pay for the transfer it should thereafter be a fast delivery service. Complete communication every step of the way on your money transfer.
- International bank transfer payments timescales. Standard money transfers where you can send any amount, any currency pairs to any country will take from 24 hours to as long as 4 days due to local variations. So for a standard transfer, you will need Recipient's bank name, account number, sort code and the cost is £20 per transfer if using your bank.
Banking Exchanging Rates Today
The foreign exchange bank that is receiving the money will also make a charge. Your options are then to choose to pay only their charges or to pay all the charges or the option to have the recipient to pay all the charges. Just Compare Exchanging Rates.