RATES AND PRICES

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Use the 'you buy with GBP' column when you are buying foreign currency with GBP.

• For example, if you are buying GBP 1,000 worth of Euros, it is the rate in the 'you buy with GBP' column that will apply. If this rate is '1.1154' for illustrative purposes, then you will receive EUR 1,115.40 (GBP 1,000 X 1.1154).
• If you were making a payment from a Sterling account for a value of EUR 1,000, the amount to be debited would be GBP 896.54 (EUR 1,000/1.1154).
• Use the 'you sell for GBP' column when you are selling a foreign currency for GBP.
• If you are selling Euros to us, it is the rate in the 'you sell for GBP' column that will apply. If this rate is '1.1384' for illustrative purposes, then for EUR 1,000 you will receive GBP 878.43 (EUR 1,000/1.1384). 
• If you were making a payment from a Euro account for a value of GBP 1,000, the amount to be debited would be EUR 1,138.40 (GBP 1,000 X 1.1384).

These are indicative rates only and payments made or received on your behalf by Coutts will be converted at the rates prevailing at the time. These rates do not apply to currency notes or travellers’ cheques.

You will see an FX margin fee (also known as ‘spread’) when completing an international payment. Via digital channels (online or mobile banking) and Coutts 24, this is a variable fee which is not included within the exchange rates. The margin will be shown as a separate fee in the review screen, before you complete the payment.

When making transactions that involve foreign exchange in Coutts Online, the exchange rate you receive is based on the following:

• Coutts Treasury Services acts as the principal price maker for client transactions.
• The FX rate is determined by reference to wholesale interbank quotes sourced from Reuters or NatWest Markets quoted as bid/ask. The reference rate may vary, depending on channel.

 The exchange rate you will receive on any foreign exchange conversion conducted in connection with this service will be determined by reference to the foreign exchange market rates. We will then incorporate a spread to the bid and offer rate quoted, which will be added to or subtracted from the exchange rate, depending on whether you are buying or selling the foreign currency. This spread will be variable and will be determined by a range of factors including the transaction type, size, currencies, prevailing market conditions and overall cost of undertaking the transaction.

Coutts charge a maximum of 1% commission on all FX transactions. If you are completing a transaction greater than £100,000 you may be able to receive a preferential rate by contacting your private banker, Coutts 24 or the FX dealing desk directly.

For any card transactions made in currencies other than sterling, the transaction will be converted to sterling by Visa or MasterCard using the exchange rate on the day the transaction is processed. To compare Visa or Mastercard’s indicative exchange rates for today against that of the European Central Bank (ECB), please select the relevant card type and currency below.