Example:
You want to send £10,000 from the UK to the EU: |
| British Pound (GBP) / Euro (EUR) Exchange Rate |
| Real Best Bid |
Midpoint |
Real Best Offer |
| 1.2498 |
1.2500 |
1.2502 |
|
| TranzMoney gives you a rate of 1.2500 |
| If you transfer £10,000 you get (£10,000 x 1.2500) €12,500. |
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| British Pound (GBP) / Euro (EUR) Exchange Rate |
| 1.2000 |
Competitor X
Bid Rate |
|
 |
| Real Best Bid |
Real Best Offer |
| 1.2498 |
1.2502 |
|
|
|
|
| 1.3000 |
Competitor X
Offer Rate |
|
| "Competitor X" gives you a rate of 1.2000 |
| If you transfer £10,000 you get (£10000 x 1.2000) €12,000. |
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| Normally, banks or money transfer companies will charge you an upfront fee, but the hidden and largest cost is actually what exchange rate they give the customer for the transaction. They will charge an additional "spread" to the real exchange rate, profiting from the difference between the real rate and the rate they give to you. Only very large multinational institutions can expect to be given the real exchange rate.
TranzMoney eliminates this cost by avoiding the routing of the orders through the traditional foreign exchange market, which is dominated by banks. Instead, it "crosses" the orders off the market. Equal transfer amounts from each country in the currency pair are matched up and the exchange rate given to the customers in both countries is the best rate possible- the midpoint of the real rate existing at that time. This service is provided for a small fee - FEE SCHEDULE. TranzMoney is a HM Revenue & Customs regulated company, so your funds are completely safe - LEGAL/REGULATORY.
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Use the calculator below to get an estimate of how much you may be able to save by crossing your order with TranzMoney (pre transfer fee):
Find the current exchange rate between the British Pound and the Euro by clicking here.
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