What are interbank exchange rates
The above represents the interbank, current, exchange rates for GBP USD EUR CAD AUD CHF NZD NOK SEK HKD and SGD.
The interbank rate is the exchange rates in which banks are trading currencies for.
Please note that the info might not be 100% current if we experienced any data loss and worth verifying before you do anything currently.
These rates are not obtainable by you if you are looking for a currency exchange or a bank transfer.
Banks and providers, even UK’s best providers, apply a spread across any currency you buy or sell.
Estimated bank exchange rates
Here is an idea of what type of exchange rates you are likely to get from your bank vs the official rate.
(Please note, these are just indicative rates).
Can you shop for a better rate on a bank transfer?
You most certainly can shop around if you feel like you want a better exchange rate.
We wrote this guide on obtaining the best exchange rates for bank transfers and covered specialist providers in this space in an expansive manner.
We can assure you money transfer companies like currency brokers or money transfer apps would not been able to the type of success it’s experiencing (with the likes of Wise and Revolut valued at tens of billions of dollars), if they weren’t beating the exchange rate offered by banks.
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