Use our quote form to request quotes from multiple money transfer providers to see which currency broker offers the best exchange rate for large money transfers.
How to use this currency converter
- Enter the amount you would like to send or receive and then choose the relevant currencies.
- Click “CALCULATE” and the results will show the converted amount as well as what a currency broker’s fees are displayed as a percentage and a front currency amount.
- Select a provider and proceed by clicking on the “APPLY” button and opening an account.
What the columns mean:
- Provider: This is a currency broker that has agreed to provide fixed & transparent exchange rates for Good Money Guide comparison.
- Amount: This is the amount of currency you want to either buy or sell.
- Exchange Rates: This displays the mid market exchange rate (which is where banks buy and sell currency and your exchange rate (which is where you can buy or sell currency with a provider). The difference between the two is known as the mark up which we will explain below. The mid-market rate is calculated on a daily basis at 9 am London time and the mark-ups are based on that rate. It’s important to note that it can take from several hours to several days to open an account with a currency broker so the rate you see on the screen will not be the rate that you are able to convert and transfer funds at.
- Conv. Amount: This is the amount of currency you will receive or send when you have converted the amount requested
- Mark Up %: Currency brokers do not charge a commission for large currency transactions, instead, they earn their fees in the percentage difference from the mid-market exchange rate to the exchange rate that you will receive as a client. For more information on how currency broker fees are calculated, you can read our guide, “how to compare currency quotes“.
- Mark Up Fee: This shows the currency equivalent fees of the percentage you would pay for converting currency. This amount is built into the exchange rate and is shown for transparency.
If you are about to convert and transfer a large amount of money abroad read our guide on how to prepare for a large currency transfer