Bank Foreign Exchange Rate Comparison | Bank Exchange Rates

An individual who wants to exchange or transfer money should decide whether to use currency brokers or high street banks. Because the decision will impact on the number of changes which someone's subjected to. And the exchange rates offered. When exchanging huge sums of money into a different foreign currency. It is important to analyse the differences in rates offered by currency brokers versus high street banks since one may end up making huge savings. Currency brokers are defined as agents who are regulated by the financial authority of the country in order to exchange foreign currencies. Conversely, a high street bank is a huge retail bank with numerous branch locations and offers a wide range of services.

Services offered and considerations to make
Currency brokers are considered as specialists who purchase and sell foreign currencies. And they specifically concentrate on currencies-only services. Conversely, high street banks offer a wide range of banking services, among them exchange of foreign currencies. When making the huge international transfer of currency. Whether for personal or business purposes. The margin rate offered by currency brokers and high street banks tends to differentiate the value which an individual will gain after the currency has been exchanged.

The rate of foreign exchange determines the relative value between different currencies. Such as how many dollars one will receive for a euro. Currently, specialist brokers in foreign currencies have become the favourite choice since they offer favourable exchange rates. Charge no fees, and provide faster transfer times. This implies that currency brokers offer better exchange deals compared to high street banks.

Bank Exchange Rates

What to look for?
When making a decision to either use a currency broker or high street bank? Consider a number of analysed issues. To start, fees are the total charges for exchange and transfer and they range from transfer charges to receiving fees charged by the overseas bank. This mostly applies when one is using high street banks since currency brokers do not charge such kind of fees.

The second important factor is the exchange rate. Most high street banks claim that they only charge commission fees before they can calculate the exchange rate. This implies that it becomes challenging to determine the exact exchange rate and then compare it to what is offered by other institutions. On some occasions, banks fail to provide this information and this is what differentiates them from currency brokers who give the exact exchange rate.

Basically, it all boils down to the number of dollars, pounds, euros, or any other form of currency that an individual will receive in exchange for a certain amount of money, after deduction of all the charges. Lastly, there are other fundamental considerations before using either of the two institutions to exchange and transfer foreign currencies.

Including analysing regulated agent are regulated. Comparing the number of fees and rates of exchange. And determining the amount of time it takes to complete the transfer. Other crucial factors include technology used. The presence of customer support, and the safety and convenience of exchanging and transferring money.

Compare Bank Exchange Rates and who is offering the best banking FX Rates with Currency requirements. The following table shows comparisons between the banks and major currencies.

Bank Foreign Exchange Rate

If you are looking to compare High Street Bank Exchange Rates then this is the site to see exactly what you will get. The foreign exchange rates shown on sending money home website are indicative, mid-market rates intended for information purposes only; Not intended for trading purposes. The compare bank exchange rates table which shows an indicative foreign exchange rate for many of the high street banks and what you may save using a foreign exchange rate broker.

All exchange rates shown per bank are for the purpose to get an idea of a currency transaction where the customer will need to ensure they have a bank account with the bank of their choice and until they conduct a currency trade all rates will in general, differ from these mid-market rates. There may also be fees and charges involved. 

If you wish to access our foreign exchange services or find out the High Street Bank Exchange Rates? That will apply to any transaction please contact your relationship team or. If a new customer, open our contact page to get in touch.

You can also view historical foreign exchange rates. Banking exchange rates comparison notes. Send money home confirm all rates shown on our High Street Bank Exchange Rates website for indicative purposes only. And only used as a rate guideline when buying or selling currency. All currency values on sending money home website, as of June 2017. Now sourced from a range of Interbank sources in relation to the British Pound base currency.

The exchange rates updated every 15 minutes to reflect the latest figures presented to send money home. Prior to this date, the exchange rates obtained from the European Central Bank. Last data available in relation to the EURO base currency.