Getting the Best Exchange Rate

Mid-Market vs Bureau Rate

The mid-market rate (also called interbank rate) is the midpoint between buy and sell rates — the 'true' exchange rate with no markup. Every commercial exchange adds a spread of 2–8% plus possible fixed fees. This is how airports, banks, and hotels make profit on currency exchange.

Best Exchange Options

Best: specialist travel cards (Wise, Starling, Monzo) — charge close to mid-market rate. Good: online pre-order from currency specialists. Avoid: airport bureaux (4–8% spread), hotel desks (5–10%), and dynamic currency conversion at ATMs abroad (3–12%).

Avoiding Hidden Fees

Always choose to pay in the local currency when abroad — selecting your home currency activates 'dynamic currency conversion' which applies a poor rate at the terminal. ATMs abroad often show this option deliberately to extract extra fees.

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