FX Rates

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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 indication rates only and payments made or received on your behalf by Coutts beta will be converted at the rates prevailing at the time.

 

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

 

Coutts Treasury Services acts as the principal price maker for client transactions.

 

The foreign exchange rate is determined by reference to wholesale interbank quotes sourced from Reuters/Bloomberg quoted as bid/ask.

 

We incorporate a spread/margin to the wholesale interbank quote, which is added to or subtracted from the exchange rate, depending on whether you are buying or selling the foreign currency. This spread is variable and is determined by a range of factors including the transaction type, size, currencies, prevailing market conditions and overall cost of undertaking the transaction.

 

The spread is also referred to as FX margin fee when completing an international payment on online or mobile banking. This is a variable fee which is included within the exchange rates. It will not show as a separate charge on your statement.

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.

 

Money, including currency and travellers cheques, obtained from cash machines or at bank counters, will incur a Cash Fee of 2% of the amount withdrawn (subject to a minimum of £1.50).