While the banks may have inflated margins and transfer fees, at OFX, we keep our margins modest to offer competitive customer rates, which can save you money. The customer rate consists of the market rate plus a margin added by a foreign exchange provider. You won’t receive this rate when sending money. These loans are made at low-interest rates reserved almost entirely for banks, financial institutions and registered money lenders. 1.26 09893 US Dollars 1 USD 0.793028 GBP We use the mid-market rate for our Converter. This is usually made in large amounts over short-term loan periods. It is the exchange rate at which the banks borrow and lend to each other. The market rate is also known as the interbank rate. The market rate and the customer rate – what’s the difference? Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. You don’t even need an account with us just select the currency pair you want to see and our inbuilt market Exchange Rate Calculator will give you their latest market values. Learn more by visiting the ‘ Using your debit/ credit card abroad page’ on our website.Our Currency Converter is a quick and easy way to see live market exchange rates at the click of a button.Įxchange rates change all the time, and our live Currency Converter updates with it, making it the ideal tool to keep your eye on the market rate for any given currency. You can find the latest interbank rates using our currency converter. The exchange rate used when the transaction is processed and the amount of the transaction in pounds sterling after the application of the exchange rate will be detailed on your statement. That way, you’ll be able to calculate FX losses on the currency conversion. The exchange rate used for processing a transaction may differ from the rate that applied on the actual date of the transaction because exchange rates vary on a daily basis and transactions are not always processed on the day they occur. Please refer to your Key Facts Documents or to the General and Product Specific Terms and Conditions for specific fees that apply to your account. This calculator is for illustrative purposes only based on the information you’ve entered. There may be other fees to consider that are not accounted for in the calculator. When you use your card abroad and the retailer or cash machine provides you with the equivalent figure for paying in pounds sterling, you can compare it with the figures from this calculator to help you decide which option to take. Pay in pounds sterling – the retailer/ foreign bank will handle the conversion and may charge you a fee.Pay in local currency – we convert the amount to pounds sterling using the Visa or Mastercard daily exchange rates (subject to your card type) and may charge you a foreign currency conversion fee depending on the card you have.You may be offered two options when using your card abroad: General information about using your cahoot debit or credit card abroad to make a purchase or to withdraw money from a cash machine Currency Converter - Exchange Rate Calculator Visa Exchange Rate Calculator Use the converter below to get an indication of the rate you may receive when using your Visa card to pay while traveling internationally.
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