Frequently asked questions

add How can I convert my money?

We have partnered with Shift to offer you a money conversion service. Our global money transfers are tailored to meet your FX payments needs.

add Which currencies can I convert with the Currency Converter?

We have 212 currencies which are being used in the new currency converter. Visit this page to view the complete list.

add What other languages are available for the Currency Converter?

We are currently supporting 9 languages: English, French, German, Spanish, Italian, Portuguese, Russian, Chinese, Japanese.

add What is the interbank rate and should I use it?

Also known as the mid-market rate, the spot rate or the real exchange rate, the interbank rate is the exchange rate used by banks and large institutions when trading large volumes of foreign currency with one another. It is not made for individuals and smaller businesses, as smaller money transfers tend to attract a higher mark-up, so that the exchange offering the service can make a profit.

add Why do currency conversion rates differ between companies?

Currency conversion rates differ between companies as each company manipulates the interbank rate to make a profit. This is usually done on volume; the higher the volume, the closer you get to the interbank rate. We come across a lot of competitors that post interbank rates online as a bait to hook new customers, but, once customers are onboard, they change the rate drastically, not usually in the customers’ favour.

add What is the best time to exchange my money or to buy or sell currencies?

Most trading happens in the UK and US market, so 8am GMT to 5pm EST, is when the market is most liquid and the difference between the bid and ask rates is minimal. Once you operate outside these hours, you can’t cover your deal with large institutions and have to pay the rate as an insurance against fluctuations from the time you book to offsetting with a partner.