Bank Exchange Rates UK

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Banks have always offered customers the ability to exchange foreign currency abroad but at a premium markup on the interbank rate between 3% to 5% and with a transfer fee attached.

If you are considering doing currency transfer then get a free quote. Bank Exchange Rates can save you on average 3% giving you more for your currency exchange than your high street bank.

On an average £100,000 money transfer you could be saving over £3000. Just complete the online quick quote form and we will be more than happy to give you a non obligation quote.

Bank Exchange Rates Charges

If you are looking to send money abroad and you are considering using your bank then here is some information on how long it will take and what charges you will be looking at paying using your bank.

See new Bank Exchange Rates Comparison

Banks have a wide range of transfer methods to choose from, including:

• Relay - up to £2,000 in local currency single or regular payments, arrival usually takes up to 5 working days- Subject to local variations you will need Recipient's bank name, account number, sort code and will cost you on average £10 a transfer.

• Standard transfer - any amount any currency to any country. arrival usually takes up to 4 working days- Subject to local variations you will need Recipient's bank name, account number, sort code and You pay £20 a transfer. The overseas bank will also make a charge. You can choose to pay only their charges, to pay all the charges or to have the recipient to pay all the charges.

• Urgent transfer - any amount any currency to any country to arrive 1-2 working days (in countries with electronic banking systems) you will need Recipient's bank name, account number, sort code and arrival usually takes up to 4 working days- Subject to local variations you will need Recipient's bank name, account number, sort code and you pay £20 a transfer.

• Foreign draft - single payment, but post so less secure. Ordering can be done a few days in advance from branches - you must then post your draft to the recipient. You should allow 5 days to order your draft - you must then deliver your draft to the recipient. Recipient's name The country you are sending the money to The currency of the payment (more details on form) where you will pay £8 a draft up to £100 or £18 a draft over £100.

• You can also make payments using your travellers cheques or your credit card.

Currency Exchange Rates - Timescales

• Standard transfer to 27 countries of European Community* as well as Iceland, Liechtenstein, Norway and Switzerland- Any amount, but must be in euro. arrival usually takes up to 4 working days - Subject to local variations you will need International Bank Account Number (IBAN) and SWIFT BIC - more details on form and You pay £10 a transfer. Any fees due to the overseas bank will be payable by the recipient.

• Urgent transfer to 27 countries of European Community* as well as Iceland, Liechtenstein, Norway and Switzerland - Any amount, but must be in euro, arrive 1-2 working days you will need International Bank Account Number (IBAN) and SWIFT BIC - more details on form - You pay £27 a transfer. Any fees due to the overseas bank will be payable by the recipient

So how do Foreign Exchange companies stack up to Banks

• 3% better exchange rate (improved depending on amount)
• No minimum amount to be transferred
• No transfer fees when you transfer over 5k
• Currency transfer can be done in 24 hours in Europe and 2 to 3 days Worldwide

Today's Interbank Exchange Rates

The interbank exchange rates shown on this website are updated dailiy after 07.15 AM onwards. All interbank rates shown are purely for indicative purposes.