Best Canadian Dollar / U.S. Dollar Exchange Rate Today: 0.7291
Compare international payments, cash buys, travel money.
Live rate: 1 CAD = 0.7291 USD
Inverted: 1 USD = 1.3716 CAD
| Provider | Exchange Rate | Fee | Recipient gets | Service | Notes | Action |
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Live Market Rate |
0.7291 |
 Set Alert
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0.7269 | 0 | 0.7269 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
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0.7240 | 0 | 0.7240 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
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0.7225 | 0 | 0.7225 | Holiday FX, Cash Delivery | A specialist alternative to banks, bureau de change & the Post Office for clients seeking competitive currency exchange rates. A multiple award-winning company, offering free delivery (over £700.00 , no commission charges, payment by Debit Card or Bank Transfer and typically offering the best exchange rates available. | |
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Best Bank Rate 
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0.7087 | Variable | 0.7087 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
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Worst Bank Rate
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0.7036 | Variable | 0.7036 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
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Airport Pickup 
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0.7182 | 0 | 0.7182 | Holiday FX, Cash Delivery | Booking Online prior to pickup is the key to getting a good rate |
CAD/USD Live Chart and Data
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January - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7916 Close: 0.7922 Mid: 0.7919 | ||||||
2 Open: 0.7922 Close: 0.7900 Mid: 0.7922 | 3 Open: 0.7900 Close: 0.7845 Mid: 0.7895 | 4 Open: 0.7842 Close: 0.7872 Mid: 0.7870 | 5 Open: 0.7870 Close: 0.7838 Mid: 0.7866 | 6 Open: 0.7837 Close: 0.7856 Mid: 0.7843 | 7 Open: 0.7856 Close: 0.7907 Mid: 0.7895 | 8 Open: 0.7905 Close: 0.7908 Mid: 0.7907 |
9 Open: 0.7908 Close: 0.7907 Mid: 0.7917 | 10 Open: 0.7907 Close: 0.7895 Mid: 0.7901 | 11 Open: 0.7896 Close: 0.7952 Mid: 0.7924 | 12 Open: 0.7950 Close: 0.7997 Mid: 0.7986 | 13 Open: 0.7998 Close: 0.7995 Mid: 0.8010 | 14 Open: 0.7995 Close: 0.7966 Mid: 0.8004 | 15 Open: 0.7966 Close: 0.7976 Mid: 0.7971 |
16 Open: 0.7976 Close: 0.7973 Mid: 0.7975 | 17 Open: 0.7974 Close: 0.7992 Mid: 0.7990 | 18 Open: 0.7990 Close: 0.8001 Mid: 0.8005 | 19 Open: 0.8002 Close: 0.7995 Mid: 0.8001 | 20 Open: 0.7994 Close: 0.8001 Mid: 0.8009 | 21 Open: 0.8000 Close: 0.7944 Mid: 0.7975 | 22 Open: 0.7935 Close: 0.7935 Mid: 0.7940 |
23 Open: 0.7935 Close: 0.7961 Mid: 0.7948 | 24 Open: 0.7961 Close: 0.7921 Mid: 0.7924 | 25 Open: 0.7920 Close: 0.7926 Mid: 0.7939 | 26 Open: 0.7929 Close: 0.7901 Mid: 0.7930 | 27 Open: 0.7901 Close: 0.7847 Mid: 0.7882 | 28 Open: 0.7846 Close: 0.7837 Mid: 0.7879 | 29 Open: 0.7837 Close: 0.7832 Mid: 0.7835 |
30 Open: 0.7838 Close: 0.7836 Mid: 0.7832 | 31 Open: 0.7838 Close: 0.7863 Mid: 0.7878 |
February - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7864 Close: 0.7881 Mid: 0.7879 | 2 Open: 0.7881 Close: 0.7882 Mid: 0.7884 | 3 Open: 0.7882 Close: 0.7886 Mid: 0.7877 | 4 Open: 0.7887 Close: 0.7846 Mid: 0.7842 | 5 Open: 0.7846 Close: 0.7841 Mid: 0.7844 | ||
6 Open: 0.7841 Close: 0.7846 Mid: 0.7843 | 7 Open: 0.7846 Close: 0.7895 Mid: 0.7875 | 8 Open: 0.7895 Close: 0.7871 Mid: 0.7875 | 9 Open: 0.7871 Close: 0.7889 Mid: 0.7888 | 10 Open: 0.7889 Close: 0.7854 Mid: 0.7897 | 11 Open: 0.7854 Close: 0.7919 Mid: 0.7953 | 12 Open: 0.7857 Close: 0.7855 Mid: 0.7887 |
13 Open: 0.7855 Close: 0.7861 Mid: 0.7857 | 14 Open: 0.7859 Close: 0.7857 Mid: 0.7876 | 15 Open: 0.7857 Close: 0.7859 Mid: 0.7859 | 16 Open: 0.7859 Close: 0.7877 Mid: 0.7888 | 17 Open: 0.7876 Close: 0.7868 Mid: 0.7867 | 18 Open: 0.7868 Close: 0.7844 Mid: 0.7874 | 19 Open: 0.7844 Close: 0.7844 Mid: 0.7842 |
20 Open: 0.7844 Close: 0.7840 Mid: 0.7852 | 21 Open: 0.7839 Close: 0.7840 Mid: 0.7854 | 22 Open: 0.7839 Close: 0.7833 Mid: 0.7847 | 23 Open: 0.7833 Close: 0.7853 Mid: 0.7856 | 24 Open: 0.7853 Close: 0.7807 Mid: 0.7814 | 25 Open: 0.7807 Close: 0.7938 Mid: 0.7891 | 26 Open: 0.7867 Close: 0.7825 Mid: 0.7879 |
27 Open: 0.7825 Close: 0.7839 Mid: 0.7853 | 28 Open: 0.7840 Close: 0.7895 Mid: 0.7871 |
March - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7895 Close: 0.7858 Mid: 0.7883 | 2 Open: 0.7859 Close: 0.7909 Mid: 0.7882 | 3 Open: 0.7907 Close: 0.7893 Mid: 0.7911 | 4 Open: 0.7891 Close: 0.7876 Mid: 0.7923 | 5 Open: 0.7848 Close: 0.7848 Mid: 0.7861 | ||
6 Open: 0.7848 Close: 0.7865 Mid: 0.7857 | 7 Open: 0.7865 Close: 0.7812 Mid: 0.7849 | 8 Open: 0.7813 Close: 0.7758 Mid: 0.7782 | 9 Open: 0.7758 Close: 0.7811 Mid: 0.7787 | 10 Open: 0.7813 Close: 0.7840 Mid: 0.7835 | 11 Open: 0.7840 Close: 0.7846 Mid: 0.7852 | 12 Open: 0.7846 Close: 0.7846 Mid: 0.7846 |
13 Open: 0.7846 Close: 0.7853 Mid: 0.7846 | 14 Open: 0.7852 Close: 0.7800 Mid: 0.7801 | 15 Open: 0.7799 Close: 0.7831 Mid: 0.7830 | 16 Open: 0.7829 Close: 0.7883 Mid: 0.7865 | 17 Open: 0.7882 Close: 0.7918 Mid: 0.7897 | 18 Open: 0.7917 Close: 0.7934 Mid: 0.7940 | 19 Open: 0.7934 Close: 0.7934 Mid: 0.7934 |
20 Open: 0.7934 Close: 0.7932 Mid: 0.7959 | 21 Open: 0.7933 Close: 0.7945 Mid: 0.7944 | 22 Open: 0.7944 Close: 0.7945 Mid: 0.7942 | 23 Open: 0.7947 Close: 0.7963 Mid: 0.7954 | 24 Open: 0.7962 Close: 0.7986 Mid: 0.7970 | 25 Open: 0.7987 Close: 0.8029 Mid: 0.8053 | 26 Open: 0.8028 Close: 0.8042 Mid: 0.8029 |
27 Open: 0.8021 Close: 0.8008 Mid: 0.8015 | 28 Open: 0.8009 Close: 0.7987 Mid: 0.8005 | 29 Open: 0.7987 Close: 0.8002 Mid: 0.8003 | 30 Open: 0.8001 Close: 0.8013 Mid: 0.8009 | 31 Open: 0.8014 Close: 0.8000 Mid: 0.8001 |
April - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.8001 Close: 0.7983 Mid: 0.7999 | 2 Open: 0.7990 Close: 0.7991 Mid: 0.7988 | |||||
3 Open: 0.7991 Close: 0.7983 Mid: 0.7993 | 4 Open: 0.7983 Close: 0.8010 Mid: 0.8005 | 5 Open: 0.8010 Close: 0.8010 Mid: 0.8053 | 6 Open: 0.8011 Close: 0.7958 Mid: 0.7989 | 7 Open: 0.7960 Close: 0.7945 Mid: 0.7957 | 8 Open: 0.7945 Close: 0.7954 Mid: 0.7966 | 9 Open: 0.7953 Close: 0.7953 Mid: 0.7954 |
10 Open: 0.7953 Close: 0.7950 Mid: 0.7975 | 11 Open: 0.7948 Close: 0.7911 Mid: 0.7932 | 12 Open: 0.7911 Close: 0.7915 Mid: 0.7921 | 13 Open: 0.7914 Close: 0.7958 Mid: 0.7940 | 14 Open: 0.7958 Close: 0.7932 Mid: 0.8019 | 15 Open: 0.7932 Close: 0.7929 Mid: 0.7951 | 16 Open: 0.7949 Close: 0.7949 Mid: 0.7939 |
17 Open: 0.7949 Close: 0.7927 Mid: 0.7954 | 18 Open: 0.7928 Close: 0.7937 Mid: 0.7950 | 19 Open: 0.7938 Close: 0.7934 Mid: 0.7939 | 20 Open: 0.7934 Close: 0.8011 Mid: 0.7976 | 21 Open: 0.8008 Close: 0.7943 Mid: 0.7992 | 22 Open: 0.7941 Close: 0.7829 Mid: 0.7932 | 23 Open: 0.7838 Close: 0.7850 Mid: 0.7844 |
24 Open: 0.7850 Close: 0.7863 Mid: 0.7871 | 25 Open: 0.7860 Close: 0.7852 Mid: 0.7855 | 26 Open: 0.7851 Close: 0.7809 Mid: 0.7829 | 27 Open: 0.7809 Close: 0.7804 Mid: 0.7791 | 28 Open: 0.7803 Close: 0.7809 Mid: 0.7810 | 29 Open: 0.7810 Close: 0.7838 Mid: 0.7810 | 30 Open: 0.7783 Close: 0.7783 Mid: 0.7811 |
May - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7783 Close: 0.7779 Mid: 0.7804 | 2 Open: 0.7781 Close: 0.7768 Mid: 0.7776 | 3 Open: 0.7770 Close: 0.7792 Mid: 0.7804 | 4 Open: 0.7791 Close: 0.7851 Mid: 0.7822 | 5 Open: 0.7850 Close: 0.7796 Mid: 0.7833 | 6 Open: 0.7796 Close: 0.7706 Mid: 0.7827 | 7 Open: 0.7752 Close: 0.7752 Mid: 0.7729 |
8 Open: 0.7752 Close: 0.7741 Mid: 0.7739 | 9 Open: 0.7743 Close: 0.7687 Mid: 0.7728 | 10 Open: 0.7686 Close: 0.7676 Mid: 0.7698 | 11 Open: 0.7674 Close: 0.7696 Mid: 0.7714 | 12 Open: 0.7696 Close: 0.7681 Mid: 0.7688 | 13 Open: 0.7677 Close: 0.7769 Mid: 0.7736 | 14 Open: 0.7748 Close: 0.7748 Mid: 0.7759 |
15 Open: 0.7748 Close: 0.7749 Mid: 0.7768 | 16 Open: 0.7749 Close: 0.7782 Mid: 0.7758 | 17 Open: 0.7785 Close: 0.7808 Mid: 0.7794 | 18 Open: 0.7808 Close: 0.7762 Mid: 0.7794 | 19 Open: 0.7762 Close: 0.7801 Mid: 0.7795 | 20 Open: 0.7801 Close: 0.7921 Mid: 0.7904 | 21 Open: 0.7795 Close: 0.7795 Mid: 0.7858 |
22 Open: 0.7795 Close: 0.7803 Mid: 0.7847 | 23 Open: 0.7803 Close: 0.7821 Mid: 0.7815 | 24 Open: 0.7819 Close: 0.7801 Mid: 0.7819 | 25 Open: 0.7800 Close: 0.7800 Mid: 0.7794 | 26 Open: 0.7802 Close: 0.7829 Mid: 0.7823 | 27 Open: 0.7829 Close: 0.7953 Mid: 0.7895 | 28 Open: 0.7848 Close: 0.7848 Mid: 0.7901 |
29 Open: 0.7848 Close: 0.7858 Mid: 0.7894 | 30 Open: 0.7858 Close: 0.7901 Mid: 0.7893 | 31 Open: 0.7901 Close: 0.7912 Mid: 0.7903 |
June - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7913 Close: 0.7896 Mid: 0.7901 | 2 Open: 0.7894 Close: 0.7955 Mid: 0.7913 | 3 Open: 0.7953 Close: 0.7941 Mid: 0.7966 | 4 Open: 0.7932 Close: 0.7907 Mid: 0.7923 | |||
5 Open: 0.7907 Close: 0.7945 Mid: 0.7933 | 6 Open: 0.7944 Close: 0.7948 Mid: 0.7951 | 7 Open: 0.7948 Close: 0.7977 Mid: 0.7949 | 8 Open: 0.7977 Close: 0.7966 Mid: 0.7996 | 9 Open: 0.7969 Close: 0.7871 Mid: 0.7927 | 10 Open: 0.7874 Close: 0.7819 Mid: 0.7903 | 11 Open: 0.7821 Close: 0.7830 Mid: 0.7824 |
12 Open: 0.7830 Close: 0.7815 Mid: 0.7826 | 13 Open: 0.7815 Close: 0.7757 Mid: 0.7784 | 14 Open: 0.7758 Close: 0.7725 Mid: 0.7740 | 15 Open: 0.7725 Close: 0.7769 Mid: 0.7738 | 16 Open: 0.7768 Close: 0.7719 Mid: 0.7733 | 17 Open: 0.7720 Close: 0.7829 Mid: 0.7801 | 18 Open: 0.7829 Close: 0.7646 Mid: 0.7774 |
19 Open: 0.7639 Close: 0.7692 Mid: 0.7671 | 20 Open: 0.7692 Close: 0.7703 Mid: 0.7700 | 21 Open: 0.7702 Close: 0.7735 Mid: 0.7745 | 22 Open: 0.7732 Close: 0.7714 Mid: 0.7716 | 23 Open: 0.7715 Close: 0.7700 Mid: 0.7710 | 24 Open: 0.7700 Close: 0.7758 Mid: 0.7755 | 25 Open: 0.7759 Close: 0.7758 Mid: 0.7759 |
26 Open: 0.7758 Close: 0.7754 Mid: 0.7765 | 27 Open: 0.7754 Close: 0.7770 Mid: 0.7768 | 28 Open: 0.7773 Close: 0.7769 Mid: 0.7792 | 29 Open: 0.7768 Close: 0.7762 Mid: 0.7773 | 30 Open: 0.7762 Close: 0.7766 Mid: 0.7761 |
July - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7769 Close: 0.7745 Mid: 0.7784 | 2 Open: 0.7764 Close: 0.7764 Mid: 0.7755 | |||||
3 Open: 0.7764 Close: 0.7759 Mid: 0.7769 | 4 Open: 0.7759 Close: 0.7778 Mid: 0.7792 | 5 Open: 0.7778 Close: 0.7673 Mid: 0.7821 | 6 Open: 0.7676 Close: 0.7670 Mid: 0.7685 | 7 Open: 0.7670 Close: 0.7712 Mid: 0.7691 | 8 Open: 0.7713 Close: 0.7766 Mid: 0.7763 | 9 Open: 0.7724 Close: 0.7726 Mid: 0.7745 |
10 Open: 0.7726 Close: 0.7723 Mid: 0.7719 | 11 Open: 0.7724 Close: 0.7697 Mid: 0.7714 | 12 Open: 0.7695 Close: 0.7673 Mid: 0.7678 | 13 Open: 0.7675 Close: 0.7692 Mid: 0.7699 | 14 Open: 0.7693 Close: 0.7628 Mid: 0.7637 | 15 Open: 0.7630 Close: 0.7683 Mid: 0.7706 | 16 Open: 0.7689 Close: 0.7675 Mid: 0.7678 |
17 Open: 0.7675 Close: 0.7686 Mid: 0.7690 | 18 Open: 0.7688 Close: 0.7704 Mid: 0.7724 | 19 Open: 0.7707 Close: 0.7770 Mid: 0.7745 | 20 Open: 0.7768 Close: 0.7762 Mid: 0.7786 | 21 Open: 0.7760 Close: 0.7764 Mid: 0.7909 | 22 Open: 0.7764 Close: 0.7748 Mid: 0.7773 | 23 Open: 0.7748 Close: 0.7751 Mid: 0.7777 |
24 Open: 0.7751 Close: 0.7737 Mid: 0.7754 | 25 Open: 0.7736 Close: 0.7781 Mid: 0.7768 | 26 Open: 0.7781 Close: 0.7767 Mid: 0.7777 | 27 Open: 0.7768 Close: 0.7801 Mid: 0.7784 | 28 Open: 0.7801 Close: 0.7809 Mid: 0.7792 | 29 Open: 0.7809 Close: 0.7805 Mid: 0.7811 | 30 Open: 0.7805 Close: 0.7805 Mid: 0.7812 |
31 Open: 0.7805 Close: 0.7803 Mid: 0.7817 |
August - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7804 Close: 0.7787 Mid: 0.7803 | 2 Open: 0.7789 Close: 0.7760 Mid: 0.7791 | 3 Open: 0.7759 Close: 0.7780 Mid: 0.7777 | 4 Open: 0.7778 Close: 0.7769 Mid: 0.7795 | 5 Open: 0.7771 Close: 0.7746 Mid: 0.7745 | 6 Open: 0.7731 Close: 0.7724 Mid: 0.7737 | |
7 Open: 0.7724 Close: 0.7725 Mid: 0.7739 | 8 Open: 0.7726 Close: 0.7781 Mid: 0.7794 | 9 Open: 0.7781 Close: 0.7762 Mid: 0.7773 | 10 Open: 0.7761 Close: 0.7828 Mid: 0.7790 | 11 Open: 0.7829 Close: 0.7837 Mid: 0.7841 | 12 Open: 0.7838 Close: 0.7830 Mid: 0.7862 | 13 Open: 0.7827 Close: 0.7827 Mid: 0.7829 |
14 Open: 0.7827 Close: 0.7825 Mid: 0.7839 | 15 Open: 0.7825 Close: 0.7752 Mid: 0.7773 | 16 Open: 0.7748 Close: 0.7785 Mid: 0.7762 | 17 Open: 0.7785 Close: 0.7740 Mid: 0.7765 | 18 Open: 0.7743 Close: 0.7724 Mid: 0.7748 | 19 Open: 0.7724 Close: 0.7702 Mid: 0.7709 | 20 Open: 0.7699 Close: 0.7694 Mid: 0.7698 |
21 Open: 0.7694 Close: 0.7692 Mid: 0.7702 | 22 Open: 0.7692 Close: 0.7665 Mid: 0.7690 | 23 Open: 0.7665 Close: 0.7717 Mid: 0.7707 | 24 Open: 0.7717 Close: 0.7710 Mid: 0.7711 | 25 Open: 0.7709 Close: 0.7730 Mid: 0.7729 | 26 Open: 0.7729 Close: 0.7654 Mid: 0.7825 | 27 Open: 0.7670 Close: 0.7643 Mid: 0.7663 |
28 Open: 0.7643 Close: 0.7658 Mid: 0.7655 | 29 Open: 0.7656 Close: 0.7693 Mid: 0.7678 | 30 Open: 0.7693 Close: 0.7641 Mid: 0.7666 | 31 Open: 0.7640 Close: 0.7609 Mid: 0.7637 |
September - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 0.7608 Close: 0.7606 Mid: 0.7593 | 2 Open: 0.7606 Close: 0.7657 Mid: 0.7659 | 3 Open: 0.7608 Close: 0.7608 Mid: 0.7633 | ||||
4 Open: 0.7602 Close: 0.7609 Mid: 0.7677 | 5 Open: 0.7610 Close: 0.7616 Mid: 0.7615 | 6 Open: 0.7617 Close: 0.7602 Mid: 0.7610 | 7 Open: 0.7602 Close: 0.7616 Mid: 0.7606 | 8 Open: 0.7618 Close: 0.7644 Mid: 0.7629 | 9 Open: 0.7645 Close: 0.7766 Mid: 0.7720 | 10 Open: 0.7767 Close: 0.7767 Mid: 0.7727 |
11 Open: 0.7767 Close: 0.7678 Mid: 0.7700 | 12 Open: 0.7678 Close: 0.7704 Mid: 0.7691 | 13 Open: 0.7706 Close: 0.7597 Mid: 0.7664 | 14 Open: 0.7595 Close: 0.7597 Mid: 0.7594 | 15 Open: 0.7598 Close: 0.7548 Mid: 0.7584 | 16 Open: 0.7548 Close: 0.7533 Mid: 0.7555 | 17 Open: 0.7535 Close: 0.7522 Mid: 0.7566 |
18 Open: 0.7522 Close: 0.7542 Mid: 0.7533 | 19 Open: 0.7545 Close: 0.7552 Mid: 0.7538 | 20 Open: 0.7545 Close: 0.7483 Mid: 0.7517 | 21 Open: 0.7483 Close: 0.7419 Mid: 0.7463 | 22 Open: 0.7418 Close: 0.7425 Mid: 0.7413 | 23 Open: 0.7422 Close: 0.7395 Mid: 0.7438 | 24 Open: 0.7324 Close: 0.7277 Mid: 0.7339 |
25 Open: 0.7277 Close: 0.7363 Mid: 0.7318 | 26 Open: 0.7366 Close: 0.7293 Mid: 0.7360 | 27 Open: 0.7296 Close: 0.7288 Mid: 0.7292 | 28 Open: 0.7287 Close: 0.7338 Mid: 0.7297 | 29 | 30 |
October - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 | 4 | 5 | 6 | 7 | 8 |
9 | 10 | 11 | 12 | 13 | 14 | 15 |
16 | 17 | 18 | 19 | 20 | 21 | 22 |
23 | 24 | 25 | 26 | 27 | 28 | 29 |
30 | 31 |
November - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 | 3 | 4 | 5 | ||
6 | 7 | 8 | 9 | 10 | 11 | 12 |
13 | 14 | 15 | 16 | 17 | 18 | 19 |
20 | 21 | 22 | 23 | 24 | 25 | 26 |
27 | 28 | 29 | 30 |
December - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 | 3 | ||||
4 | 5 | 6 | 7 | 8 | 9 | 10 |
11 | 12 | 13 | 14 | 15 | 16 | 17 |
18 | 19 | 20 | 21 | 22 | 23 | 24 |
25 | 26 | 27 | 28 | 29 | 30 | 31 |
Compare Exchange Rates:
Know What the Best Exchange Rate Looks Like
Benchmark the exchange rate market with Pound Sterling Live's custom currency rate comparison tool with built-in algorithms to find the best rates in the market.
Banks and financial institutions buy and sell currency from each other - these sizeable institutions are 'the market' and the rate they transact at is the 'market rate'. The difference between how much a currency is purchased and sold is the spread, which is essentially the difference between the buy and sell price.
But, when currency is sold by banks to retail customers that spread widens significantly and the profit on the transaction is therefore substantially larger.
Therefore when we focus on the transfer fee when sending money abroad we often miss the biggest cost: the exchange rate spread.
Foreign exchange providers have essentially recognised this and they enter the market to transfer money at tighter spreads, thereby saving potentially significant amounts of money for their clients simply by providing better exchange rates.
For example, the transfer of £100K into euros is expected to attract a rate that delivers between €112,480 and €113,296 with the UK's leading high street banks. But FCA authorised providers will provide a rate that delivers between €115,510 and €115,740 (using rates on 05/07/21).
Taking the time to work with a FCA regulated currency provider could therefore result in the delivery of an extra euros amount of between €2444 and €3030.
Pound Sterling Live only works with foreign exchange payment companies that are FCA Authorised. This is important: FCA regulations and oversight requires the money they transfer on your behalf to be protected through a process known as 'safeguarding'. Safeguarding requires the payments company to keep your money separate from their own money in a top-tier bank. Therefore if the provider comes under stress your money should be protected.