Currency Exchange Fee Calculator

The midpoint between what banks buy and sell a currency for — the rate you see on a search engine. It is not available to retail customers, and how far a provider sits from it is the real cost.

Because the margin is in the exchange rate instead of the fee. A provider quoting no commission and a rate 4% below mid-market costs more than one charging a visible 1% at a fair rate.

Work out what you actually receive for a fixed amount sent, with all fees and the offered rate included. That single number is comparable; advertised fees are not.

Being offered to pay in your home currency at a foreign card terminal. It is almost always worse than letting your bank convert — decline it and pay in the local currency.

Substantially, because they have a captive market. Spreads of 10% or more are common, and the fee-free signs refer only to the commission rather than to the rate.

Typically a percentage on top of the network's rate, which is close to mid-market. A card without them is frequently the cheapest way to spend abroad, and cash withdrawals may still carry their own fee.

Usually not, beyond a small amount for arrival. Home-country bureaux and airport desks both carry wide spreads, and a card without foreign transaction fees generally beats both.

The rate at which banks trade with each other, essentially the mid-market rate. Retail customers never get it, and the gap to it is the honest measure of a provider's cost.

They lock a rate in advance, which is useful if rates move against you and costly if they move in your favour. Check the loading spread and any inactivity or withdrawal fees.

The spread between them is the provider's margin. A wide gap on a bureau board is the clearest possible signal of an expensive rate.

Typically 3 to 7% above the network rate, and it is offered at the point of payment as a convenience. Declining it and paying in the local currency is almost always cheaper.

Compare the amount actually received across several specialist providers rather than comparing fees. For very large sums the spread is negotiable, which most people never ask about.