We scour the market to find the best deals from the biggest providers, helping you to compare them by the exchange rates offered, transfer fees, transfer times, and more.
To get started, simply fill in the form below and get the best rates for your transfer.
But to give yourself the biggest chance of getting a favorable rate on your transfer, we would recommend you also:
Check the mid-market rate
Exchange rates fluctuate by the minute, so if you know you’ll be sending money along a specific route sometime in the future, staying on top of movements can help you time your transfer and get a better rate
Sign up for rate alerts
MoneyTransfers.com rate alerts can help you do this, giving you weekly, bi-weekly, or monthly updates for as many currency pairs as you choose
Choose the right provider
Ensuring you have the right provider for your transfer needs helps you keep costs low, whether it’s for specific payment or delivery methods or friendlier rates for the amount you want to send
Before you buy your pounds, you should make sure you’re getting the best deal. To save money, consider using cheaper ways to exchange currencies, such as opening a multi-currency account.
Before you transfer your dollars into pesos, you need to understand the different ways you can exchange to make sure you get the best deal. The easiest and cheapest way to purchase and use pesos is by opening a multi-currency account.
Before exchanging your dollars for Japanese yen, you should check the different ways you can buy them to make sure you get the best deal. Multi-currency accounts are the cheapest and most convenient way to get Japanese yen and spend them overseas.
To find the best place to get euros in the US, you need to understand the various options available to you. Smart travelers who want to save money and time prefer the multi-currency account instead of going to banks or using airport currency exchanges.
Before exchanging your American dollars for Canadian dollars, you should make sure you’re getting the best deal. Exchanging dollars using traditional methods can be costly. But using online multi-currency accounts is easier and cheaper for spending money abroad.
The mid-market exchange rate, sometimes known as the interbank rate, is the midpoint between the buying and selling price for each currency involved in the transaction.
It’s essentially the standard exchange rate for the transaction, determined by natural market forces and agreed upon by the world’s major banks.
The mid-market rate fluctuates constantly and settles in naturally in the market.
Some providers such as Wise offer the mid-market exchange rate for their money transfers, and this will likely be the best rate on offer for your transfer.
Other providers may add a small margin to their exchange rates, which lets them make a profit off of the conversion. However, some might publish these openly, for example, XE publicly shows their rates, whereas others will hide it.
To get a good deal, you need to know the current mid-market rate, which you can find in the table below (for EUR/USD pair).
EUR
USD Price
1 EUR
1.18
5 EUR
5.89
10 EUR
11.78
25 EUR
29.45
50 EUR
58.90
100 EUR
117.79
USD
EUR Price
1 USD
0.85
5 USD
4.24
10 USD
8.49
25 USD
21.22
50 USD
42.45
100 USD
84.89
Currency forecasts
Unsure when is the right time to buy your currency? Use these currency forecasts to get an idea of what is happening on the market.
Over the past several weeks, the U.S. dollar has weakened against the Mexican peso. That means $1 now buys fewer pesos than it did earlier this year. Here’s why:
Ongoing political tensions, particularly in the Middle East, including U.S. embassy alerts and military operations, have led investors to shift money away from riskier markets like Turkey and into safer assets such as the euro.
The Australian dollar (AUD) has been showing signs of strength against the U.S. dollar (USD), and analysts believe it may continue to gain slightly in the short term.
The Indian Rupee (INR) has been weakening and is hovering close to 87 per 1 U.S. Dollar (USD). Several key factors are currently putting pressure on the Rupee:
An exchange rate margin or markup is an extra charge incorporated into the exchange rate given by some money transfer providers.
You’ll be able to notice the difference between the rate provided by your provider and the mid-market rate - the extra they’ve added on is essentially a profit margin.
Money transfer services usually make their profit in two ways;
Either by adding an exchange rate margin as described above.
Or charging a transfer fee.
Transfer fees are generally more transparent as you’ll see the fee upfront, while exchange rate markups or margins can sometimes hide the additional cost charged by the provider.
Of course, some providers charge both - and it can sometimes vary by payment method, amount you’re sending, the currencies involved, and more.
Just because the provider offers the 'real' rate, it doesn't mean they are the cheapest. Many will apply additional hidden fees when making a transfer.
A bit more on currency conversions
Who decides the exchange rate?
The mid-market exchange rate settles in naturally when the world’s biggest banks and financial institutions set their buying and selling prices for the two given currencies.
It is almost impossible to get the exact mid-market rate because it constantly fluctuates, however, major banks will collect this information and publish it for the public.
However, money transfer providers are free to charge their rates.
What affects the exchange rate?
Exchange rates can be affected by a multitude of factors, which is partly what makes them so volatile and hard to predict.
It’s primarily based on supply and demand and depends on its perceived value on the global market.
However, the following things can influence exchange rate movements:
The individual currency values
The economic actions and behaviors of a country's government or banks
The levels of public or government debt
The level of inflation and interest rates, and the general state of the economy
Speculation and confidence in a country’s economy or government
How can I follow exchange rates for different currencies?
MoneyTransfers.com offers convenient exchange rate alerts for any currency pair of your choosing.
Simply find your preferred currency pair below and click through, and you’ll be able to sign up for rate alerts directly to your inbox either once a week, once every two weeks, or once a month.
How do changes in the economy affect exchange rates?
Changes in an economy directly influence exchange rates.
Economic factors like inflation rates, interest rates, public debt, and economic performance can lead to appreciation or depreciation of a currency.
For instance, a country with a robust economy will likely see its currency value increase.
Why do exchange rate fluctuate?
Exchange rates fluctuate due to constant changes in the supply and demand of currencies on the foreign exchange market.
These changes are driven by international trade, tourism, speculation, geopolitical events, and macroeconomic factors, among others.
What is the difference between a 'buy' and 'sell' rate in currency exchange?
The 'buy' rate is the rate at which a currency exchange provider will buy foreign currency from you, and the 'sell' rate is the rate at which they will sell that currency to you.
The difference between these rates, known as the spread, is how most exchange services make a profit.
How do I convert one currency to another?
You can convert one currency to another using our currency converter, through a bank, or a currency exchange service.
Always be mindful of the current exchange rate and any potential fees.
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
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In other words, the mid-market exchange rate is the middle point between the price for buying and selling currencies at any given time and is therefore naturally set by the market as it fluctuates.
Forward contracts are made between two parties without the need for another organization (such as an exchange or clearing house) to act as an intermediary.
When dealing with foreign currencies, business owners often tap into currency forecasts to anticipate potential market fluctuations, but it is no easy task.