Quoted FX rate ≠ effective rate
The rate on a quote is not the rate you actually get after fees and spread. Compare the effective rate — what you pay divided by what you receive — before you convert.
The rate on a quote is not the rate you actually get after fees and spread. Compare the effective rate — what you pay divided by what you receive — before you convert.
A mid-market rate is the reference. Providers add a markup and may charge a flat fee. Deducting the fee before conversion changes both the amount received and the effective rate. Line up two or three options on the same mid-market input.
Try it: Currency conversion cost calculator. More: Currency conversion cost explained.
General information only — not financial advice. See the disclaimer.