How are exchange rates applied?

How quoting works

1. Enter the amount and the currencies on the transfer or conversion screen.
2. We display the rate, our margin, and the exact amount that will be debited and credited.
3. That quote is held for a short window. If you leave the screen open too long you will be asked to refresh — rates move continuously.

Rates are derived from live interbank pricing plus a margin that varies by currency pair and account type. Because the margin is already inside the quoted rate, the figures on screen are the final figures.

Card transactions abroad

A purchase in another currency converts at the card scheme rate on the day it settles, which may differ slightly from the day you paid. If a merchant offers to charge you in your home currency, decline — that is dynamic currency conversion, and their rate is almost always worse than the scheme rate.

Large or forward-dated conversions

For material amounts, or where you need certainty about a future payment, business and treasury customers can request a quoted rate or a forward contract. Contact us before executing rather than after.