We use the Interbank/mid-market exchange rate and only charge you 2.49% of the transaction value.
The mid-market rate is the benchmark used in global financial markets and is often considered the closest thing you can get to the fairest exchange rate possible (it’s based around a mid-point between prices offered by buyers and sellers of a currency.)
Want to know more about how FX markets work – read our blog on that here.
If you swap currencies on weekdays (Mon-Fri UK time), you will receive the market exchange rate which is based on the data received from third parties.
On weekends (Sat-Sun UK time), the provided rates are fixed to protect against fluctuations.
Since the market exchange rate is constantly fluctuating, the rates locked in for the weekend may not be the same as the rates that are available when the markets open on Monday morning.
We will always show you the rate you’re getting. When you enter the amount you want to swap you will see the exchange rate given, when you click on "convert" you will get to the "Swap offer" screen, there you will see the exchange rate after fee. Once you confirm the swap you can view the exchange after fee on the transaction currency that you swap the funds into.