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Exchange fee calculator

See the hidden cost in your exchange rate in a year's terms, and what switching could save.

Exchange fee check

Most of what you pay to change money is hidden in the exchange rate, not the fee. See it in a year's terms.

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Margin = how far your rate is from the mid-market rate you see on Google or XE, as a percentage.
Hidden cost every year
 

 

What you use now 
Low-cost option 

 

An estimate from the numbers you enter. Real costs depend on the currency pair, the amount and the provider.

How the exchange fee check works

Enter how much you convert each time, how often, and the margin on your current rate. Then enter the margin of a cheaper option. The calculator shows what each one costs you over a year, and what switching would save over five.

How do I find my margin?

Look up the mid-market rate on Google or XE, then compare it with the rate you were given:

Margin = (mid-market rate − your rate) ÷ mid-market rate × 100

Example: the mid-market rate is 1.100 and your bank gives you 1.067. That is a 3% margin. Traditional banks often charge around 2% to 4%. Specialist transfer services and some money apps are often under 1%.

Paying by card abroad?

If a card machine offers to charge you in your home currency, say no and pay in the local currency. Here is why it costs you more.

Read next: The hidden fee in every exchange rate, and how to find it.