Market benchmarking
Review observed pricing and propositions across a defined market and peer group.
Provider benchmark directory
Current FX margin benchmarks by provider and base currency
BER Benchmark tracks exchange-rate margins across selected banks and international payment providers. Browse current average margins by provider and base currency, then open each provider benchmark to view its lowest- and highest-margin currency corridors.
Figures are grouped by base currency and shown without a cheapest-provider ranking because transaction assumptions, products and monitored corridor sets may differ.
Browse benchmarks
BER monitored provider benchmarks
Average margin is the percentage difference between the monitored provider rates and their corresponding mid-market rates. Open a row for the underlying currency-corridor analysis.
AED
United Arab Emirates dirham
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| Ajman Bank | AED | 2.1% | 13 | View details | |
| Dubai Islamic Bank | AED | 2.6% | 26 | View details | |
| First Abu Dhabi Bank | AED | 2.9% | 26 | View details | |
| National Bank of Fujairah | AED | 2.2% | 28 | View details |
AUD
Australian dollar
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| ANZ Bank | AUD | 4.2% | 36 | View details | |
| Bendigo Bank | AUD | 4.9% | 18 | View details | |
| Commonwealth Bank | AUD | 4.7% | 35 | View details | |
| OFX | AUD | 3.1% | 39 | View details | |
| Travel Money Oz | AUD | 15.9% | 54 | View details | |
| Travelex Online | AUD | 11.6% | 68 | View details | |
| Westpac | AUD | 4.4% | 35 | View details | |
| Wise | AUD | 0.96% | 41 | View details |
CAD
Canadian dollar
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| National Bank of Canada | CAD | 3.0% | 18 | View details | |
| OFX | CAD | 3.2% | 39 | View details | |
| Royal Bank of Canada | CAD | 2.8% | 19 | View details | |
| Scotiabank | CAD | 3.8% | 23 | View details | |
| TD Bank | CAD | 3.5% | 23 | View details | |
| Wise | CAD | 1.1% | 41 | View details |
EUR
euro
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| ABN AMRO | EUR | 1.3% | 34 | View details | |
| ASN Bank | EUR | 0.84% | 13 | View details | |
| Bank of Ireland | EUR | 3.8% | 23 | View details | |
| CaixaBank | EUR | 2.3% | 10 | View details | |
| Commerzbank | EUR | 10.7% | 45 | View details | |
| Deutsche Bank | EUR | 1.5% | 38 | View details | |
| OFX | EUR | 3.1% | 39 | View details | |
| Rabobank | EUR | 1.1% | 32 | View details | |
| Van Lanschot Kempen | EUR | 0.87% | 19 | View details | |
| Wise | EUR | 1.0% | 41 | View details |
GBP
British pound
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| Natwest Bank | GBP | 3.3% | 45 | View details | |
| OFX | GBP | 2.9% | 39 | View details | |
| Royal Bank of Scotland | GBP | 3.3% | 45 | View details | |
| Wise | GBP | 0.91% | 41 | View details |
HKD
Hong Kong dollar
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| Bank of China | HKD | 0.81% | 16 | View details | |
| Hang Seng Bank | HKD | 1.0% | 12 | View details | |
| HSBC | HKD | 0.87% | 12 | View details | |
| OFX | HKD | 3.7% | 39 | View details | |
| Wise | HKD | 1.0% | 41 | View details |
INR
Indian rupee
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| Axis Bank | INR | 2.9% | 16 | View details | |
| Bank of Baroda | INR | 0.73% | 14 | View details | |
| Indian Overseas Bank | INR | 0.37% | 15 | View details | |
| State Bank of India | INR | 2.0% | 21 | View details |
MYR
Malaysian ringgit
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| CIMB Bank | MYR | 4.2% | 24 | View details | |
| Hong Leong Bank | MYR | 4.5% | 25 | View details |
NZD
New Zealand dollar
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| ASB Bank | NZD | 2.0% | 19 | View details | |
| BNZ Bank | NZD | 2.4% | 26 | View details | |
| Kiwibank | NZD | 3.3% | 32 | View details | |
| OFX | NZD | 3.2% | 39 | View details | |
| Travelex Online | NZD | 9.8% | 65 | View details | |
| Wise | NZD | 0.88% | 41 | View details |
PHP
Philippine peso
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| Bank of the Philippine Islands | PHP | 1.7% | 10 | View details | |
| China Bank | PHP | 2.1% | 9 | View details | |
| Metrobank | PHP | 0.67% | 11 | View details | |
| RCBC | PHP | 1.2% | 5 | View details |
SGD
Singapore dollar
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| DBS Bank | SGD | 1.5% | 37 | View details | |
| OCBC Bank | SGD | 1.9% | 38 | View details | |
| OFX | SGD | 3.2% | 39 | View details | |
| United Overseas Bank | SGD | 2.4% | 12 | View details | |
| Wise | SGD | 0.81% | 41 | View details |
USD
US dollar
| Provider | Base currency | Average margin | Monitored corridors | Last updated | Detailed benchmark |
|---|---|---|---|---|---|
| Bank of America | USD | 6.1% | 45 | View details | |
| OFX | USD | 3.2% | 39 | View details | |
| TD Bank | USD | 3.8% | 23 | View details | |
| Wise | USD | 0.88% | 41 | View details |
Use cases
A structured view of customer-facing FX markets
Benchmark snapshots can support focused market analysis without implying complete or continuous market coverage.
Bank and provider comparison
Compare customer-facing rates, fees and positioning on a consistent basis.
Corridor analysis
Examine selected currency routes, transaction scenarios and market participants.
Customer transparency
Provide an independent reference point for customer or stakeholder communications.
Internal strategy review
Support pricing, proposition and market-position discussions with observed evidence.
Available benchmark types
Benchmarks shaped around the question
Coverage is selected according to the market, currency scope, peer group and intended use.
Observed Bank FX Benchmark
Observed customer-facing bank rates and fees for defined scenarios.
Provider FX Benchmark
Comparison of selected bank and non-bank provider propositions.
Corridor Benchmark
Focused analysis of a selected currency or payment corridor.
Bank Peer Average
A defined peer-basket reference based on comparable observations.
Methodology principles
Defined inputs, consistent treatment
The average margin is the percentage difference between a provider rate and the corresponding mid-market rate across the currency corridors BER currently monitors for that benchmark.
Transaction-amount assumptions may vary. Rates may be observed, provider-supplied or estimated, and the directory uses the neutral label “BER monitored benchmark” because source provenance is not consistently exposed for every record.
Read BER’s FX data methodology- Mid-market referenceProvider pricing is measured against the corresponding market rate.
- Monitored corridorsAverages include only the currency corridors available in the displayed benchmark.
- Recorded updatesThe most recent available collection date is shown for each row.
- No global rankingProviders are not ranked when products, amounts or corridor sets may differ.
- Corridor detailEach link opens the provider page’s lowest- and highest-margin analysis.
Important limitations
Observed indicators, not guaranteed executable rates
Rates and margins are indicative and may vary by customer, amount, product, channel and time. Data availability, transaction assumptions and comparability can also differ between providers and markets.
BER Benchmark outputs are monitored indicators, not guaranteed executable quotes. Open the detailed provider benchmark for its corridor-level analysis and confirm the final price with the provider.
Benchmark enquiries
Discuss a market, peer group or corridor
Tell us what you would like to benchmark and the decision the work needs to support. We can then discuss an appropriate scope and methodology.