Best U.S. Dollar / Canadian Dollar Exchange Rate Today: 1.3663
Compare international payments, cash buys, travel money.
Live rate: 1 USD = 1.3663 CAD
Inverted: 1 CAD = 0.7319 USD
| Provider | Exchange Rate | Fee | Recipient gets | Service | Notes | Action |
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Live Market Rate |
1.3663 |
 Set Alert
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1.3622 | 0 | 1.3622 | International Payments and Transfers | Experts in international money transfers for business and individuals, delivering industry-beating exchange rates. | |
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1.3567 | 0 | 1.3567 | International Payments and Transfers | Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent. | |
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1.3540 | 0 | 1.3540 | 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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1.3280 | Variable | 1.3280 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
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Worst Bank Rate
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1.3185 | Variable | 1.3185 | 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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1.3458 | 0 | 1.3458 | Holiday FX, Cash Delivery | Booking Online prior to pickup is the key to getting a good rate |
Ranking Snapshot
Horizon Currency
payments
Wise
payments
Revolut
payments, cash
Global Reach
payments
Travel FX
holiday cash
Covent Garden FX
holiday cash
Moneycorp
payments
Tesco
cash
Post Office
cash
HSBC
representative of high street bank rates
About the rankings
USD/CAD Live Chart and Data
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January - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2639 Close: 1.2639 Mid: 1.2639 | ||||||
2 Open: 1.2639 Close: 1.2656 Mid: 1.2623 | 3 Open: 1.2658 Close: 1.2751 Mid: 1.2710 | 4 Open: 1.2751 Close: 1.2703 Mid: 1.2716 | 5 Open: 1.2705 Close: 1.2756 Mid: 1.2728 | 6 Open: 1.2760 Close: 1.2729 Mid: 1.2759 | 7 Open: 1.2729 Close: 1.2635 Mid: 1.2679 | 8 Open: 1.2635 Close: 1.2645 Mid: 1.2640 |
9 Open: 1.2645 Close: 1.2647 Mid: 1.2644 | 10 Open: 1.2647 Close: 1.2663 Mid: 1.2652 | 11 Open: 1.2666 Close: 1.2577 Mid: 1.2618 | 12 Open: 1.2578 Close: 1.2504 Mid: 1.2536 | 13 Open: 1.2503 Close: 1.2509 Mid: 1.2487 | 14 Open: 1.2508 Close: 1.2545 Mid: 1.2520 | 15 Open: 1.2545 Close: 1.2545 Mid: 1.2545 |
16 Open: 1.2545 Close: 1.2542 Mid: 1.2542 | 17 Open: 1.2541 Close: 1.2514 Mid: 1.2525 | 18 Open: 1.2516 Close: 1.2498 Mid: 1.2524 | 19 Open: 1.2498 Close: 1.2509 Mid: 1.2488 | 20 Open: 1.2510 Close: 1.2500 Mid: 1.2484 | 21 Open: 1.2500 Close: 1.2567 Mid: 1.2543 | 22 Open: 1.2567 Close: 1.2567 Mid: 1.2567 |
23 Open: 1.2567 Close: 1.2562 Mid: 1.2571 | 24 Open: 1.2562 Close: 1.2625 Mid: 1.2627 | 25 Open: 1.2626 Close: 1.2616 Mid: 1.2633 | 26 Open: 1.2616 Close: 1.2658 Mid: 1.2623 | 27 Open: 1.2656 Close: 1.2747 Mid: 1.2699 | 28 Open: 1.2745 Close: 1.2754 Mid: 1.2753 | 29 Open: 1.2754 Close: 1.2754 Mid: 1.2754 |
30 Open: 1.2761 Close: 1.2762 Mid: 1.2766 | 31 Open: 1.2759 Close: 1.2717 Mid: 1.2728 |
February - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2716 Close: 1.2691 Mid: 1.2689 | 2 Open: 1.2690 Close: 1.2685 Mid: 1.2676 | 3 Open: 1.2687 Close: 1.2680 Mid: 1.2686 | 4 Open: 1.2679 Close: 1.2733 Mid: 1.2724 | 5 Open: 1.2733 Close: 1.2733 Mid: 1.2733 | ||
6 Open: 1.2733 Close: 1.2746 Mid: 1.2742 | 7 Open: 1.2745 Close: 1.2664 Mid: 1.2704 | 8 Open: 1.2666 Close: 1.2704 Mid: 1.2692 | 9 Open: 1.2706 Close: 1.2676 Mid: 1.2689 | 10 Open: 1.2676 Close: 1.2732 Mid: 1.2685 | 11 Open: 1.2733 Close: 1.2710 Mid: 1.2710 | 12 Open: 1.2710 Close: 1.2714 Mid: 1.2712 |
13 Open: 1.2714 Close: 1.2722 Mid: 1.2727 | 14 Open: 1.2724 Close: 1.2728 Mid: 1.2750 | 15 Open: 1.2728 Close: 1.2724 Mid: 1.2737 | 16 Open: 1.2725 Close: 1.2694 Mid: 1.2695 | 17 Open: 1.2697 Close: 1.2708 Mid: 1.2696 | 18 Open: 1.2708 Close: 1.2754 Mid: 1.2717 | 19 Open: 1.2754 Close: 1.2754 Mid: 1.2754 |
20 Open: 1.2754 Close: 1.2755 Mid: 1.2746 | 21 Open: 1.2756 Close: 1.2758 Mid: 1.2743 | 22 Open: 1.2757 Close: 1.2767 Mid: 1.2750 | 23 Open: 1.2767 Close: 1.2734 Mid: 1.2724 | 24 Open: 1.2734 Close: 1.2808 Mid: 1.2803 | 25 Open: 1.2807 Close: 1.2681 Mid: 1.2743 | 26 Open: 1.2681 Close: 1.2685 Mid: 1.2683 |
27 Open: 1.2685 Close: 1.2756 Mid: 1.2737 | 28 Open: 1.2755 Close: 1.2666 Mid: 1.2734 |
March - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2666 Close: 1.2728 Mid: 1.2700 | 2 Open: 1.2723 Close: 1.2646 Mid: 1.2686 | 3 Open: 1.2646 Close: 1.2669 Mid: 1.2640 | 4 Open: 1.2671 Close: 1.2681 Mid: 1.2730 | 5 Open: 1.2681 Close: 1.2681 Mid: 1.2681 | ||
6 Open: 1.2681 Close: 1.2714 Mid: 1.2719 | 7 Open: 1.2716 Close: 1.2801 Mid: 1.2753 | 8 Open: 1.2800 Close: 1.2890 Mid: 1.2848 | 9 Open: 1.2890 Close: 1.2801 Mid: 1.2845 | 10 Open: 1.2799 Close: 1.2753 Mid: 1.2795 | 11 Open: 1.2755 Close: 1.2737 Mid: 1.2734 | 12 Open: 1.2737 Close: 1.2737 Mid: 1.2737 |
13 Open: 1.2737 Close: 1.2735 Mid: 1.2726 | 14 Open: 1.2736 Close: 1.2820 Mid: 1.2780 | 15 Open: 1.2821 Close: 1.2770 Mid: 1.2810 | 16 Open: 1.2771 Close: 1.2686 Mid: 1.2725 | 17 Open: 1.2687 Close: 1.2630 Mid: 1.2654 | 18 Open: 1.2631 Close: 1.2606 Mid: 1.2617 | 19 Open: 1.2606 Close: 1.2606 Mid: 1.2606 |
20 Open: 1.2606 Close: 1.2605 Mid: 1.2594 | 21 Open: 1.2605 Close: 1.2589 Mid: 1.2594 | 22 Open: 1.2589 Close: 1.2586 Mid: 1.2592 | 23 Open: 1.2582 Close: 1.2559 Mid: 1.2574 | 24 Open: 1.2559 Close: 1.2521 Mid: 1.2548 | 25 Open: 1.2520 Close: 1.2449 Mid: 1.2486 | 26 Open: 1.2449 Close: 1.2483 Mid: 1.2466 |
27 Open: 1.2465 Close: 1.2487 Mid: 1.2476 | 28 Open: 1.2484 Close: 1.2521 Mid: 1.2533 | 29 Open: 1.2520 Close: 1.2498 Mid: 1.2500 | 30 Open: 1.2499 Close: 1.2482 Mid: 1.2468 | 31 Open: 1.2483 Close: 1.2501 Mid: 1.2499 |
April - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2500 Close: 1.2500 Mid: 1.2507 | 2 Open: 1.2500 Close: 1.2504 Mid: 1.2502 | |||||
3 Open: 1.2504 Close: 1.2525 Mid: 1.2504 | 4 Open: 1.2524 Close: 1.2486 Mid: 1.2497 | 5 Open: 1.2487 Close: 1.2485 Mid: 1.2449 | 6 Open: 1.2484 Close: 1.2565 Mid: 1.2522 | 7 Open: 1.2564 Close: 1.2587 Mid: 1.2574 | 8 Open: 1.2587 Close: 1.2562 Mid: 1.2585 | 9 Open: 1.2562 Close: 1.2562 Mid: 1.2562 |
10 Open: 1.2562 Close: 1.2579 Mid: 1.2566 | 11 Open: 1.2581 Close: 1.2641 Mid: 1.2608 | 12 Open: 1.2640 Close: 1.2635 Mid: 1.2622 | 13 Open: 1.2635 Close: 1.2567 Mid: 1.2615 | 14 Open: 1.2567 Close: 1.2608 Mid: 1.2582 | 15 Open: 1.2606 Close: 1.2610 Mid: 1.2603 | 16 Open: 1.2610 Close: 1.2610 Mid: 1.2610 |
17 Open: 1.2610 Close: 1.2615 Mid: 1.2583 | 18 Open: 1.2613 Close: 1.2601 Mid: 1.2619 | 19 Open: 1.2601 Close: 1.2603 Mid: 1.2606 | 20 Open: 1.2603 Close: 1.2487 Mid: 1.2548 | 21 Open: 1.2487 Close: 1.2590 Mid: 1.2525 | 22 Open: 1.2592 Close: 1.2647 Mid: 1.2655 | 23 Open: 1.2647 Close: 1.2699 Mid: 1.2673 |
24 Open: 1.2699 Close: 1.2718 Mid: 1.2710 | 25 Open: 1.2722 Close: 1.2735 Mid: 1.2741 | 26 Open: 1.2738 Close: 1.2807 Mid: 1.2756 | 27 Open: 1.2807 Close: 1.2814 Mid: 1.2815 | 28 Open: 1.2816 Close: 1.2804 Mid: 1.2834 | 29 Open: 1.2803 Close: 1.2746 Mid: 1.2790 | 30 Open: 1.2746 Close: 1.2746 Mid: 1.2746 |
May - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2746 Close: 1.2855 Mid: 1.2804 | 2 Open: 1.2853 Close: 1.2873 Mid: 1.2879 | 3 Open: 1.2871 Close: 1.2834 Mid: 1.2859 | 4 Open: 1.2834 Close: 1.2737 Mid: 1.2787 | 5 Open: 1.2738 Close: 1.2826 Mid: 1.2790 | 6 Open: 1.2827 Close: 1.2782 Mid: 1.2814 | 7 Open: 1.2782 Close: 1.2782 Mid: 1.2782 |
8 Open: 1.2782 Close: 1.2919 Mid: 1.2851 | 9 Open: 1.2918 Close: 1.3009 Mid: 1.2963 | 10 Open: 1.3010 Close: 1.3031 Mid: 1.3007 | 11 Open: 1.3031 Close: 1.2994 Mid: 1.2979 | 12 Open: 1.2994 Close: 1.3024 Mid: 1.3026 | 13 Open: 1.3026 Close: 1.2724 Mid: 1.2877 | 14 Open: 1.2724 Close: 1.2724 Mid: 1.2724 |
15 Open: 1.2724 Close: 1.2905 Mid: 1.2823 | 16 Open: 1.2904 Close: 1.2851 Mid: 1.2898 | 17 Open: 1.2848 Close: 1.2808 Mid: 1.2830 | 18 Open: 1.2806 Close: 1.2884 Mid: 1.2845 | 19 Open: 1.2886 Close: 1.2820 Mid: 1.2835 | 20 Open: 1.2818 Close: 1.2836 Mid: 1.2821 | 21 Open: 1.2836 Close: 1.2836 Mid: 1.2836 |
22 Open: 1.2836 Close: 1.2815 Mid: 1.2826 | 23 Open: 1.2815 Close: 1.2786 Mid: 1.2790 | 24 Open: 1.2788 Close: 1.2822 Mid: 1.2825 | 25 Open: 1.2824 Close: 1.2820 Mid: 1.2843 | 26 Open: 1.2819 Close: 1.2774 Mid: 1.2807 | 27 Open: 1.2774 Close: 1.2690 Mid: 1.2733 | 28 Open: 1.2690 Close: 1.2690 Mid: 1.2690 |
29 Open: 1.2690 Close: 1.2725 Mid: 1.2710 | 30 Open: 1.2726 Close: 1.2655 Mid: 1.2687 | 31 Open: 1.2657 Close: 1.2639 Mid: 1.2657 |
June - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2636 Close: 1.2667 Mid: 1.2643 | 2 Open: 1.2666 Close: 1.2570 Mid: 1.2624 | 3 Open: 1.2572 Close: 1.2592 Mid: 1.2572 | 4 Open: 1.2592 Close: 1.2592 Mid: 1.2592 | |||
5 Open: 1.2592 Close: 1.2586 Mid: 1.2585 | 6 Open: 1.2589 Close: 1.2581 Mid: 1.2567 | 7 Open: 1.2582 Close: 1.2537 Mid: 1.2569 | 8 Open: 1.2536 Close: 1.2552 Mid: 1.2541 | 9 Open: 1.2552 Close: 1.2703 Mid: 1.2626 | 10 Open: 1.2702 Close: 1.2694 Mid: 1.2745 | 11 Open: 1.2694 Close: 1.2728 Mid: 1.2711 |
12 Open: 1.2728 Close: 1.2796 Mid: 1.2764 | 13 Open: 1.2796 Close: 1.2891 Mid: 1.2846 | 14 Open: 1.2890 Close: 1.2945 Mid: 1.2920 | 15 Open: 1.2948 Close: 1.2873 Mid: 1.2929 | 16 Open: 1.2874 Close: 1.2954 Mid: 1.2915 | 17 Open: 1.2953 Close: 1.2980 Mid: 1.3009 | 18 Open: 1.2980 Close: 1.2981 Mid: 1.2980 |
19 Open: 1.3013 Close: 1.3001 Mid: 1.3015 | 20 Open: 1.3000 Close: 1.2982 Mid: 1.2999 | 21 Open: 1.2984 Close: 1.2931 Mid: 1.2945 | 22 Open: 1.2931 Close: 1.2963 Mid: 1.2954 | 23 Open: 1.2963 Close: 1.2988 Mid: 1.2976 | 24 Open: 1.2987 Close: 1.2883 Mid: 1.2928 | 25 Open: 1.2883 Close: 1.2883 Mid: 1.2883 |
26 Open: 1.2883 Close: 1.2897 Mid: 1.2890 | 27 Open: 1.2896 Close: 1.2870 Mid: 1.2890 | 28 Open: 1.2869 Close: 1.2873 Mid: 1.2856 | 29 Open: 1.2874 Close: 1.2884 Mid: 1.2872 | 30 Open: 1.2883 Close: 1.2874 Mid: 1.2897 |
July - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2872 Close: 1.2785 Mid: 1.2866 | 2 Open: 1.2785 Close: 1.2785 Mid: 1.2785 | |||||
3 Open: 1.2785 Close: 1.2888 Mid: 1.2839 | 4 Open: 1.2889 Close: 1.2858 Mid: 1.2866 | 5 Open: 1.2859 Close: 1.3033 Mid: 1.2962 | 6 Open: 1.3030 Close: 1.3037 Mid: 1.3044 | 7 Open: 1.3039 Close: 1.2967 Mid: 1.3007 | 8 Open: 1.2966 Close: 1.2903 Mid: 1.2936 | 9 Open: 1.2903 Close: 1.2945 Mid: 1.2924 |
10 Open: 1.2945 Close: 1.2945 Mid: 1.2945 | 11 Open: 1.2948 Close: 1.2994 Mid: 1.2999 | 12 Open: 1.2997 Close: 1.3033 Mid: 1.3014 | 13 Open: 1.3030 Close: 1.3001 Mid: 1.2998 | 14 Open: 1.2999 Close: 1.3109 Mid: 1.3097 | 15 Open: 1.3106 Close: 1.3000 Mid: 1.3064 | 16 Open: 1.3000 Close: 1.3006 Mid: 1.3003 |
17 Open: 1.3006 Close: 1.3010 Mid: 1.3013 | 18 Open: 1.3007 Close: 1.2981 Mid: 1.2962 | 19 Open: 1.2978 Close: 1.2872 Mid: 1.2926 | 20 Open: 1.2873 Close: 1.2884 Mid: 1.2880 | 21 Open: 1.2887 Close: 1.2878 Mid: 1.2897 | 22 Open: 1.2880 Close: 1.2912 Mid: 1.2876 | 23 Open: 1.2912 Close: 1.2915 Mid: 1.2914 |
24 Open: 1.2915 Close: 1.2925 Mid: 1.2896 | 25 Open: 1.2925 Close: 1.2851 Mid: 1.2888 | 26 Open: 1.2851 Close: 1.2875 Mid: 1.2859 | 27 Open: 1.2874 Close: 1.2818 Mid: 1.2840 | 28 Open: 1.2819 Close: 1.2807 Mid: 1.2832 | 29 Open: 1.2806 Close: 1.2778 Mid: 1.2739 | 30 Open: 1.2778 Close: 1.2778 Mid: 1.2778 |
31 Open: 1.2778 Close: 1.2816 Mid: 1.2799 |
August - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.2813 Close: 1.2843 Mid: 1.2811 | 2 Open: 1.2842 Close: 1.2889 Mid: 1.2860 | 3 Open: 1.2887 Close: 1.2854 Mid: 1.2862 | 4 Open: 1.2855 Close: 1.2870 Mid: 1.2846 | 5 Open: 1.2869 Close: 1.2913 Mid: 1.2924 | 6 Open: 1.2913 Close: 1.2917 Mid: 1.2915 | |
7 Open: 1.2917 Close: 1.2944 Mid: 1.2927 | 8 Open: 1.2942 Close: 1.2854 Mid: 1.2885 | 9 Open: 1.2855 Close: 1.2886 Mid: 1.2872 | 10 Open: 1.2885 Close: 1.2774 Mid: 1.2823 | 11 Open: 1.2774 Close: 1.2766 Mid: 1.2766 | 12 Open: 1.2761 Close: 1.2774 Mid: 1.2770 | 13 Open: 1.2774 Close: 1.2774 Mid: 1.2774 |
14 Open: 1.2774 Close: 1.2780 Mid: 1.2763 | 15 Open: 1.2780 Close: 1.2904 Mid: 1.2853 | 16 Open: 1.2906 Close: 1.2845 Mid: 1.2875 | 17 Open: 1.2845 Close: 1.2917 Mid: 1.2882 | 18 Open: 1.2917 Close: 1.2945 Mid: 1.2923 | 19 Open: 1.2947 Close: 1.2989 Mid: 1.2976 | 20 Open: 1.2989 Close: 1.2991 Mid: 1.2990 |
21 Open: 1.2991 Close: 1.3000 Mid: 1.2987 | 22 Open: 1.3001 Close: 1.2996 Mid: 1.3017 | 23 Open: 1.3048 Close: 1.2958 Mid: 1.2993 | 24 Open: 1.2959 Close: 1.2970 Mid: 1.2980 | 25 Open: 1.2970 Close: 1.2938 Mid: 1.2935 | 26 Open: 1.2937 Close: 1.2976 Mid: 1.2974 | 27 Open: 1.2976 Close: 1.2980 Mid: 1.2978 |
28 Open: 1.2980 Close: 1.3061 Mid: 1.3024 | 29 Open: 1.3062 Close: 1.3002 Mid: 1.3033 | 30 Open: 1.3000 Close: 1.3089 Mid: 1.3039 | 31 Open: 1.3091 Close: 1.3141 Mid: 1.3103 |
September - 2022
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1.3143 Close: 1.3148 Mid: 1.3174 | 2 Open: 1.3148 Close: 1.3088 Mid: 1.3122 | 3 Open: 1.3088 Close: 1.3088 Mid: 1.3088 | ||||
4 Open: 1.3098 Close: 1.3140 Mid: 1.3122 | 5 Open: 1.3141 Close: 1.3130 Mid: 1.3141 | 6 Open: 1.3129 Close: 1.3155 Mid: 1.3133 | 7 Open: 1.3154 Close: 1.3129 Mid: 1.3152 | 8 Open: 1.3128 Close: 1.3081 Mid: 1.3112 | 9 Open: 1.3081 Close: 1.3049 Mid: 1.2979 | 10 Open: 1.3049 Close: 1.3081 Mid: 1.3048 |
11 Open: 1.3081 Close: 1.3023 Mid: 1.3046 | 12 Open: 1.3023 Close: 1.2980 Mid: 1.2999 | 13 Open: 1.2980 Close: 1.3164 Mid: 1.3066 | 14 Open: 1.3166 Close: 1.3161 Mid: 1.3172 | 15 Open: 1.3159 Close: 1.3248 Mid: 1.3202 | 16 Open: 1.3247 Close: 1.3265 Mid: 1.3267 | 17 Open: 1.3265 Close: 1.3261 Mid: 1.3263 |
18 Open: 1.3261 Close: 1.3258 Mid: 1.3263 | 19 Open: 1.3257 Close: 1.3243 Mid: 1.3292 | 20 Open: 1.3242 Close: 1.3366 Mid: 1.3301 | 21 Open: 1.3365 Close: 1.3479 Mid: 1.3420 | 22 Open: 1.3478 Close: 1.3471 Mid: 1.3476 | 23 Open: 1.3473 Close: 1.3520 Mid: 1.3540 | 24 Open: 1.3520 Close: 1.3555 Mid: 1.3537 |
25 Open: 1.3555 Close: 1.3581 Mid: 1.3587 | 26 Open: 1.3579 Close: 1.3712 Mid: 1.3683 | 27 Open: 1.3712 Close: 1.3721 Mid: 1.3707 | 28 Open: 1.3724 Close: 1.3627 Mid: 1.3716 | 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.