The ‘exchange rate’ is an estimated rate for each of the banks listed. Since the exact rates are issued at different times, we work out an estimate for each bank.

How we work this out is by checking the official rates of each provider while at the same time checking the mid-market rate. This allows us to calculate the mark-up. The calculated mark-up is then saved so that at any given point we can take the mid-market rate and apply the mark-up.

What you see in our comparison table is an estimated rate for each provider which we calculate by applying the estimated mark-up to the latest mid-market rate. The actual rates of the banks will not be exactly the same as the rates we calculate, simply due to the fact that we estimate their rates.