Moving Abroad2 min check

Currency Transfer Cost Calculator

Compare what a transfer really costs you once the FX margin (the hidden bit) and any fixed fee are included.

Short answer

UK high-street banks typically charge a 2–4% FX margin plus a £15–£40 wire fee on international transfers — often £200–£600 lost on a £20,000 transfer with no obvious fee shown. Specialist providers (Wise, Revolut, OFX, Currencies Direct) charge 0.4–1% margin and £0–£5 fees, saving 80%+ on the same transfer.

Step 1 of 20%

Calculation method, coverage and version

Inputs used: Amount you want to send, Mid-market rate (1 GBP =), Rate offered by your provider, Fixed fee charged.
Calculation approach: The calculator applies the rules and assumptions described in “How it works” to the values you enter. Rounding can cause small differences from an official or provider calculation.
Coverage: Moving Abroad. UK nations, tax treatment, local rules and provider criteria can differ; check the official sources shown below before acting.
Content version: No page-specific review date is currently published. Treat the result as indicative and verify current rules independently.

Not included unless explicitly requested: personal circumstances not entered, provider discretion, future rule changes, professional fees and case-specific exceptions. Read the full calculator methodology.

How it works

The "true cost" is the gap between the mid-market rate (Google's rate) and the rate your provider gives, plus any fixed fee. The calculator shows both in pounds and as a percentage so you can compare apples-to-apples across providers.

Worked example

£25,000 to euros: bank at 1.15 vs mid-market 1.18 = 2.5% margin = £625 lost + £25 fee = £650 cost. Wise at 1.179 + £35 fee = £19 + £35 = £54 cost. Saving: £596 on one transfer.

Who should use this

•People buying property abroad
•Anyone moving lump sums for relocation
•Expats sending salary home
•UK retirees with a foreign pension

Common mistakes

×Trusting 'no fee' marketing — the margin is the fee
×Using PayPal for large transfers (3.5–4% margin)
×Not using a forward contract for property deposits (lock the rate up to 12 months)
×Sending £50k+ via online apps without phone-confirming the recipient details

Frequently asked questions

Wise or Revolut for one-offs?▾

Wise is more transparent for large amounts; Revolut Premium is best for frequent small transfers.

What's a forward contract?▾

Lock today's rate for a transfer up to 12 months later. Useful for buying property abroad.

Are FX firms safe?▾

FCA-authorised firms safeguard client funds in segregated accounts. Always check the FCA register.

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