Tools · Currency
International Money Transfer Cost Calculator
See how much you could save sending money internationally by using a specialist FX provider instead of your bank — and understand why the spread matters more than the headline rate.
This calculator uses static indicative exchange rates (mid-2026 approximations) and typical spread/fee estimates for each provider type. It shows the estimated amount received — the real difference in cost. Actual rates change constantly; contact us for live quotes on large transfers.
Indicative mid-market rate
1 GBP = 1.16 EUR
Before any spread or fees
High Street Bank
~2.5% spread + £25 flat fee (typical)
€11,281.73
FX Specialist
~0.4% spread, no flat fee (typical)
€11,553.60
+€271.88 more (≈£234 saved)
Wise / FX App
~0.5% transparent fee, no spread markup
€11,542.00
+€260.27 more (≈£224 saved)
Exchange rates shown are static approximations as of mid-2026 for illustration only. Actual rates fluctuate continuously. Spread and fee estimates are typical figures — your actual costs will vary by provider, amount, and timing. For large transfers (£50,000+), contact us for an introduction to a specialist FX provider with institutional-grade rates.
Why the Exchange Rate You See Isn't the Rate You Get
Most people look at the mid-market exchange rate — the rate quoted on Google or XE.com — and assume that is what they will receive. In practice, every provider adds a spread: they buy and sell currency at slightly worse rates than the interbank rate, pocketing the difference as profit.
High street banks typically apply a spread of 2–3% above the interbank rate, often on top of a flat transaction fee of £15–£35. For a £20,000 transfer, that spread alone could cost £400–£600 — money that simply disappears into the bank's margin.
FX Specialists vs Banks
FX specialists — currency brokers who focus purely on foreign exchange — operate on far tighter margins. Typical spreads of 0.3–0.5% are common, with no flat fee on larger transfers. For the same £20,000 transfer, the specialist's margin might be just £60–£100.
Technology-led FX apps like Wise take a similar approach, offering transparent fee structures (typically 0.4–0.7%) with no hidden spread markup. They are well-suited for smaller or one-off transfers.
Large Transfers: £50,000 and Above
For significant sums — buying property abroad, transferring pension proceeds, moving business capital — a dedicated FX dealing desk makes even more sense. At this size, dealers can:
- Negotiate rates closer to the true interbank rate
- Offer forward contracts — locking in today's rate for a future settlement
- Set limit orders — automatically executing when your target rate is reached
- Provide a named dealer for personal service and guidance
Global Investments works with specialist FX providers and can make introductions for clients moving large sums. Contact us to discuss your requirements.
Regular International Transfers
Expats who receive pension income, rental income, or dividends in one currency and spend in another face ongoing exchange rate exposure. Even small improvements in the rate paid can compound into meaningful sums over years. Regular transfer plans with FX specialists often qualify for preferential rates over spot transactions.
Frequently Asked Questions
Why is a bank worse than an FX specialist for international transfers?
High street banks typically add a spread of 2–3% above the interbank (mid-market) rate, plus flat transaction fees. On a £20,000 transfer, that could mean £400–£600 lost to the bank's margin. FX specialists work on much tighter spreads (often 0.3–0.5%) and may charge no flat fee at all, passing the near-interbank rate to the client. On large regular transfers — such as pension income, rental income, or property purchases — the difference accumulates rapidly.
What is a forward contract and when should I use one?
A forward contract allows you to lock in today's exchange rate for a transfer that will take place up to 24 months in the future. This is useful when you know you need to move a large sum — such as a property purchase abroad or a pension lump sum — and want certainty over the amount you will receive in the destination currency. Most FX specialists and dealing desks offer forward contracts. A small deposit (typically 5–10%) is required upfront.
At what transfer size should I use a specialist FX provider?
FX specialists are cost-effective at almost any size, but the absolute savings become most significant above £5,000–£10,000. For transfers of £50,000 or more — such as property purchases, pension lump sums, or business payments — a dedicated FX dealing desk can often negotiate rates very close to interbank, and may offer services such as forward contracts, limit orders, and a named dealer. Contact us and we can introduce you to a vetted specialist.
Get a better rate on your currency transfer
Our FX partners can save you significantly versus high-street banks. Talk to us before you move money internationally.