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United Kingdom – Forex Guides, Reviews & News

Welcome to BER UK. Here we look at all things related to the British Pound including daily market updates keep our customers aware of the latest GBP exchange rates, charts and rate changes in the major GBP cross currency pairs. Basically everything to help you get maximum bang for your pound abroad!

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Foreign Transfer Providers
Ratings & Reviews
Receive EUR(€)Exchange RateFee GBPTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
5,701.5 EUR
Best Overall
1.1403£0^1.39%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TorFX logo
5,695.5 EUR
6 EUR
1.139101.5%Bank Transfers - Online & Phone1-2 days
HSBC logo
5,581.62 EUR
120 EUR
1.118£7.53.47%Online, Branch, Bank Transfers2-3 days
 
Natwest Bank logo
5,550.3 EUR
151 EUR
1.1134154.01%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
5,525.21 EUR
176 EUR
1.1077124.44%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo HSBC logo
5,526 EUR
175 EUR
1.1084154.44%Online, Branch, Bank Transfers2-3 days
Santander International Money Transfers
 
Santander logo
5,493.94 EUR
208 EUR
1.1032204.98%Online, Branch, Bank Transfers2-3 days
 
Lloyds TSB logo
5,476.51 EUR
225 EUR
1.0997205.28%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:£0^ - No fees for BestExchangeRates users (normally 7GBP for smaller transfers)
Exchange Rate:1.1403 (1.39% from mid-rate)
EUR amount:5,701.5 EUR
Total Cost:1.39%
Time:
Rate Fetched: Thu Apr 18 2019 22:09:10 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TorFX: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:
Exchange Rate:1.1391 (1.5% from mid-rate)
EUR amount:5,695.5 EUR
Total Cost:1.5%
Difference:
6 EUR less than using OFX
Time:0:20 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:£7.5 GBP (.15%)
Exchange Rate:1.1180 (3.32% from mid-rate)
EUR amount:5,581.62 EUR
Total Cost:3.47%
Difference:
120 EUR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:1.1134 (3.72% from mid-rate)
EUR amount:5,550.3 EUR
Total Cost:4.01%
Difference:
151 EUR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:12
Exchange Rate:1.1077 (4.21% from mid-rate)
EUR amount:5,525.21 EUR
Total Cost:4.44%
Difference:
176 EUR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:1.0997 (4.9% from mid-rate)
EUR amount:5,526 EUR
Total Cost:4.44%
Difference:
175 EUR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Santander logoSantander

Santander: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:1.1032 (4.6% from mid-rate)
EUR amount:5,493.94 EUR
Total Cost:4.98%
Difference:
208 EUR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Foreign Transfer GBP→EUR
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:1.0997 (4.9% from mid-rate)
EUR amount:5,476.51 EUR
Total Cost:5.28%
Difference:
225 EUR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Example of savings sending £5K GBP to EUR
 

 

Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money Providers
Ratings & Reviews
Amount EUR(€)Exchange RateFee GBPTotal CostCurrency ServicesDelivery/CollectDeal Links
 
Travelex Online UK logo
1,125.2 EUR
Best Overall
1.1252£0^2.7%Online order, Branch pickup, Home delivery2-3 days
Post Office Foreign Currency
Post Office logo
1,108.1 EUR
17 EUR
1.108104.18%Online order, Branch pickup, Home delivery2-3 days
Citibank Foreign Currency
Citibank logo
1,088.21 EUR
37 EUR
1.0992£105.9%Branch-
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo
1,079 EUR
46 EUR
1.0908£106.73%Branch-
 
Lloyds TSB logo
1,077.12 EUR
48 EUR
1.088£106.86%Branch-
Santander Foreign Currency
 
Santander logo
1,077.12 EUR
48 EUR
1.088£106.86%Branch-
 
Natwest Bank logo
1,071.68 EUR
54 EUR
1.088£157.33%Branch-
Travelex Online UK: Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:£0 - No fees for Debit & Credit Cards
Exchange Rate:1.1252 (2.7% from mid-rate)
EUR amount:1,125.2 EUR
Total Cost:2.7%
Time:
Rate Fetched: Thu Apr 18 2019 22:15:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
Post Office: Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:0
Exchange Rate:1.1081 (4.18% from mid-rate)
EUR amount:1,108.1 EUR
Total Cost:4.18%
Time:0:20 Local
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.0992 (4.95% from mid-rate)
EUR amount:1,088.21 EUR
Total Cost:5.9%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.0880 (5.91% from mid-rate)
EUR amount:1,079 EUR
Total Cost:6.73%
Currency Services:Branch
Delivery/Collect:-
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.0880 (5.91% from mid-rate)
EUR amount:1,077.12 EUR
Total Cost:6.86%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 

Santander logoSantander

Santander: Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.0880 (5.91% from mid-rate)
EUR amount:1,077.12 EUR
Total Cost:6.86%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Travel Money GBP→EUR
GBP amount:£1,000 GBP
Fee:£15 GBP (Minimum fee)
Exchange Rate:1.0880 (5.91% from mid-rate)
EUR amount:1,071.68 EUR
Total Cost:7.33%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Example savings when ordering EUR travel cash online
 

Market Outlook for the British pound sterling

GBP/USD – 3 Month chart

Update 14-April: The pound hovered between US$1.30 and US$1.31 (in line with 3-month averages) after the EU granted the UK a Brexit extension until the end of October. No-deal risk is gone for now and anything is possible, including a new British prime minister, a general election and/or second referendum.

Experts at MUFG said in April that sterling would likely trade between US$1.30 and US$1.34 until more clarity emerged.

If an election is called, the pound could depreciate to US$1.24, a UBS analyst said, due to “heightened uncertainty” (the opposition Labour party is consistently ahead in the polls).

Goldman Sachs said in April that sterling was set for a “big finish” (higher) once the gridlock in the UK parliament ends and a deal is agreed and certainty found.

Earlier this year, currency analysts at HSBC estimated that the pound would be valued at levels near US$1.10 in the event of no-deal, near US$1.45 with a deal and at US$1.55 if Brexit is cancelled.


 

Foreign Exchange News

SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection

What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.

Updated: 18 Apr, 2019

Commodities Boom Will Take Australian Dollar to US$0.74

The Australian dollar is forecast to climb to US$0.74 in the coming months, supported by a commodities boom that has seen the price of Australia’s largest export, iron ore, climb to a 5-year high.

Updated: 15 Apr, 2019

Brexit This Year Now a Toss-Up, Bookmakers Say; What Next for Pound?

GBP Pound Sterling Brexit Deal on Financial Services

With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.

Updated: 14 Apr, 2019

Euro to Sink to US$1.08, Says ANZ

The euro hasn’t traded as low as US$1.08 since the early portion of 2017, but that’s where we’re heading within the next 3 months, analysts at ANZ believe.

Updated: 7 Apr, 2019

 

Euro Market Outlook

GBP/EUR – 3 month chart

Against the dollar, the euro remains weak. At $1.12 in early April, the euro was barely above March’s 21-month low of $1.118. Against the pound, it traded at £0.86 (a level it never sank to in 2018), but it fared better against the Australian dollar, with EUR/AUD rates in line with 2018’s average, at A$1.578.

Euro weakness has been driven by Brexit uncertainties and has followed March’s meeting of the ECB, at which the central bank said it will not raise interest rates until 2020 as part of an effort to lift the eurozone economy out of this “period of continued [economic] weakness.”

Forecasts: ING analysts wrote in March that they expect the low-yielding euro to continue to depreciate against USD over the coming months; ANZ said it saw rates falling as low as $1.08 by mid-year; Danske Bank said the euro would trade between $1.12 and 1.16 at year-end.

For EUR/GBP, Nordea Research thinks a no-deal Brexit will put £0.95 in play, a Norway-type Brexit (“Norway plus”) or permanent customs union will lead to £0.81-0.83, and Theresa May’s deal should see £0.83-0.84.

Compare GBP-EUR Exchange Rates

 

US Dollar Market Outlook

GBP/USD – 3 month chart

In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.

The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.

Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.

Compare GBP-USD Exchange Rates

 

Money Saving Guides

Best exchange rates sending money from UK

The holy grail when you send money abroad is finding an organisation that you can trust and one that offers the best exchange rates along with transparent, smart and straightforward customer service.

Updated: 6 Mar, 2019

Best Currency Exchange Rates in London

In this article we show you how to save money if you find yourself looking for Foreign Cash in London.

Updated: 3 Mar, 2019

Prepaid Travel Cards – Comparing Features and Fees

We look at the Pros & Cons of using a Travel Card on your travels When planning an overseas trip figuring out how to access your money while away is complicated and often left to the last minute. You then end up paying high fees for changing foreign cash or with unexpected fees on your […]

Updated: 28 Feb, 2019

Order Online for Cheap Currency Exchange Deals in UK

We show you how to pre-order foreign cash online for better currency exchange rates and save money for your next trip.

Updated: 28 Feb, 2019

 

Money Transfer Provider Reviews – UK

TransferWise Borderless Account – BER Review

TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.

Updated: 7 Apr, 2019

TransferWise – BER Review

TransferWise has been making waves in the global payments market since it came on the scene back in 2011 and is undoubtedly one of the best services for sending money across borders.

Updated: 7 Apr, 2019

WorldFirst Foreign Transfers – BER Review

WorldFirst is a market leader in the international payments space and is consistently ranked among the most reliable and cheapest money transfer handlers for four-figure sums.

Updated: 23 Mar, 2019

 

Currency Exchange by Location in the UK

Best Currency Exchange Rates in London
Best Currency Exchange Rates in Birmingham
Best Currency Exchange Rates in Glasgow

 

Fintech FX News

TransferWise Announces PayNow Funding Option

TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.

Updated: 29 Mar, 2019

Banking Sector Fights Back Against Fintech Rivals

Citigroup’s announcement this week of plans to develop its own consumer-payments platform is the latest indication of a fightback by the banking establishment against fintech rivals that threaten its most lucrative markets.

Posted: 27 Mar, 2019

Revolut Steps Up Brexit Preparations

Revolut CEO Nikolay Storonsky

Fintech hotshot Revolut has written to millions of its customers to warn that new verification documents will be needed in the event of a no-deal Brexit; it has also called on the UK government to get serious about post-Brexit tech visas.

Updated: 25 Mar, 2019

WorldFirst Owners Target European Expansion

Ant Financial, the Chinese fintech giant that recently acquired WorldFirst, has set its sights on Europe, where it plans to take its share of both cross-border and point-of-sale payments.

Updated: 25 Mar, 2019

 

Australian Dollar Market Outlook

GBP/AUD – 3 month chart

Improved risk appetite and thriving commodities markets helped lift the Australian dollar in April.

Per bank forecasts, the Australian dollar will strengthen slightly against the US dollar between now and mid-year, before weakening quite significantly into year-end.

In April, NAB predicted appreciation to US$0.74 before the end of June, from a mid-April rate of US$0.719.

In March, both Westpac and JP Morgan predicted an Aussie slide to US$0.68 in the second half of the year. Those banks were at least more optimistic than HSBC, which argued in February for US$0.66. ANZ said that the Aussie would lose value against resilient Asian currencies like the Chinese yuan and Singapore dollar.

In the second half of the year, major economic themes should re-emerge, many of which are negative; these include a housing market slump, the US-China trade spat and a weaker Chinese economy. In April, the Reserve Bank of Australia appeared to hint at a possible shift to a rate-cutting bias at its next meeting when it said it would “monitor developments and set monetary policy to support sustainable growth and inflation”—that would be an across-the-board negative for AUD.

Compare GBP-AUD Exchange Rates

 

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