The UK’s TSB Bank typically charges around a 5.0 margin when transferring UK sterling to euro whilst private currency brokers are much more competitive. Making a transfer to or from euros using TSB Bank service could potentially lose thousands of pounds due to the poor FX margin rate offered. Example:
|BANK NAME / FX BROKER||EXCHANGE RATE||GBP/EUR & EUR/GBP||MORE DETAILS|
|TSB BANK||5.0%||€1.11||contact bank|
|CURRENCIES DIRECT||0.7 to 1.0%||€1.157 to €1.161||FREE QUOTE|
|0.7 to 1.0%||£0.847 to £0.85||FREE QUOTE|
Euro Transfer currency exchange rates are automatically updated daily (Monday to Friday) at 09:00 GMT.
*Note: A lower FX Rate will give a better exchange rate when transferring money to/from euro. The recommended foreign exchange companies listed on our website can save you money and time with your international currency transfer requirements.
If you are transferring funds from a European bank to your TSB bank account in the UK, you can easily find the overseas bank foreign exchange rates by entering the bank name in the search box below:
1: High street banks will charge an additional commission fee when sending money abroad into another currency. Private brokers offer commission free currency transfers for all transactions that meet their minimum transfer amount.
2: International money transfers sent via TSB Bank could take longer to arrive than using a private broker, and unless you pay a premium, most high street banks will take from 3 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction between 1 to 3 days.