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Commercial Exchange Rate

A commercial exchange rate is, technically, any exchange rate better than a tourist rate (which you would expect if exchanging a small amount of cash over a counter). Since a tourist rate is around 5% below the published mid-market rate, there can be a huge variance between commercial rates offered by different institutions such as banks and independent foreign exchange companies.

 

Do not assume that a 'commercial' exchange rate offered by your bank cannot be bettered. Different banks have different commercial rates for different customers, and there is a choice of lots of independent companies who can offer an even better commercial rate than any bank will be able to give you.

 

Much like mortgages or loans, rates vary enormously between providers.

 

If you are using an independent currency company for your international payment, you should ensure they are FSA-Authorised for your security. We can put you in touch with a company for a free quote - fill in your details at the top of the page and they will contact you so that you can compare different commercial exchange rates, no matter what the amount you need to transfer, and ensure you are getting the best possible deal.