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GBP/USD - Convert Compare Save

British Pound Sterling to United States Dollar exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the British Pound Sterling to United States Dollar exchange rate, has news, forecasts and GBP to USD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

GBP/USD Exchange Rates - How to Compare & Save

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for GBP/USD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive USD($)Exchange RateFee GBPTotal CostDeal Links
WorldFirst logo
6,109 USD
Best Overall
1.221800.5%
TorFX logo
6,022 USD
87 USD
1.204401.91%
OFX logo
6,090.5 USD
18 USD
1.2181£0^0.8%
HSBC logo
5,901.14 USD
208 USD
1.182£7.53.88%
Natwest Bank logo
5,868.34 USD
241 USD
1.1772154.42%
Citibank International Money Transfers
Citibank logo
5,841.95 USD
267 USD
1.1712124.85%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo HSBC logo
5,841 USD
268 USD
1.1716154.87%
Santander International Money Transfers
Santander logo
5,808.17 USD
301 USD
1.1663205.4%
Lloyds TSB logo
5,784.27 USD
325 USD
1.1615205.79%
WorldFirst: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:
Exchange Rate:1.2218 (0.5% from mid-rate)
USD amount:6,109 USD
Total Cost:0.5%
Time:12:20 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
TorFX: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:
Exchange Rate:1.2044 (1.91% from mid-rate)
USD amount:6,022 USD
Total Cost:1.91%
Difference:
87 USD less than using WorldFirst
Time:12:20 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
 
OFX: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:£0^ - No fees for BestExchangeRates users (normally 7GBP for smaller transfers)
Exchange Rate:1.2181 (0.8% from mid-rate)
USD amount:6,090.5 USD
Total Cost:0.8%
Difference:
18 USD less than using WorldFirst
Time:
Rate Fetched: 12:20 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:£7.5 GBP (.15%)
Exchange Rate:1.1820 (3.74% from mid-rate)
USD amount:5,901.14 USD
Total Cost:3.88%
Difference:
208 USD less than using WorldFirst
Time:12:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:1.1772 (4.13% from mid-rate)
USD amount:5,868.34 USD
Total Cost:4.42%
Difference:
241 USD less than using WorldFirst
Time:12:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:12
Exchange Rate:1.1712 (4.62% from mid-rate)
USD amount:5,841.95 USD
Total Cost:4.85%
Difference:
267 USD less than using WorldFirst
Time:12:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:1.1627 (5.31% from mid-rate)
USD amount:5,841 USD
Total Cost:4.87%
Difference:
268 USD less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Santander logoSantander

Santander: Foreign Transfer GBP→USD
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:1.1663 (5.02% from mid-rate)
USD amount:5,808.17 USD
Total Cost:5.4%
Difference:
301 USD less than using WorldFirst
Time:12:20 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→USD
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:1.1615 (5.41% from mid-rate)
USD amount:5,784.27 USD
Total Cost:5.79%
Difference:
325 USD less than using WorldFirst
Time:12:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 08/25/2019 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount USD($)Exchange RateFee GBPTotal CostDeal Links
Travelex Online UK logo
1,191.5 USD
Best Overall
1.1915£0^2.96%
Post Office Money Foreign Currency
Post Office Money logo
1,176.6 USD
15 USD
1.176604.18%
Citibank Foreign Currency
Citibank logo
1,155.43 USD
36 USD
1.1671£105.9%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo
1,145 USD
46 USD
1.1583£106.73%
Lloyds TSB logo
1,143.75 USD
48 USD
1.1553£106.85%
Santander Foreign Currency
Santander logo
1,143.75 USD
48 USD
1.1553£106.85%
Natwest Bank logo
1,137.97 USD
54 USD
1.1553£157.32%
Travelex Online UK: Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:£0 - No fees for Debit & Credit Cards
Exchange Rate:1.1915 (2.96% from mid-rate)
USD amount:1,191.5 USD
Total Cost:2.96%
Time:
Rate Fetched: Sun Aug 25 2019 10:30:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
Post Office Money: Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:0
Exchange Rate:1.1766 (4.18% from mid-rate)
USD amount:1,176.6 USD
Total Cost:4.18%
Time:12:20 Local
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.1671 (4.95% from mid-rate)
USD amount:1,155.43 USD
Total Cost:5.9%
Time:12:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.1553 (5.91% from mid-rate)
USD amount:1,145 USD
Total Cost:6.73%
Currency Services:Branch
Delivery/Collect:-
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.1553 (5.91% from mid-rate)
USD amount:1,143.75 USD
Total Cost:6.85%
Time:12:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 

Santander logoSantander

Santander: Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:1.1553 (5.91% from mid-rate)
USD amount:1,143.75 USD
Total Cost:6.85%
Time:12:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Travel Money GBP→USD
GBP amount:£1,000 GBP
Fee:£15 GBP (Minimum fee)
Exchange Rate:1.1553 (5.91% from mid-rate)
USD amount:1,137.97 USD
Total Cost:7.32%
Time:12:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 08/25/2019 - See full table

GBP to USD interbank exchange rate = 1.2279

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on GBP/USD exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

GBP to USD Forecasts

Brexit continues to dominate GBP markets and forecasts, with "no deal" likely to induce exchange rates near $1.10; a deal will bring rates closer to $1.50.  Read more

GBPUSD blended flags

GBP and USD in the Markets

When determining the best time to make a foreign exchange transaction, in this case the GBP vs USD, you should pay attention to the recent market trends for both currencies.

 

British Pound Sterling (GBP)

By some margin, the pound was the worst-performing major currency in the second quarter. It slipped in late June to multi-month lows against a number of important currencies, including the Australian dollar, New Zealand dollar, euro, Canadian dollar and Swiss franc.

Pound valuations will continue to fluctuate based on No-deal, Deal and Remain probabilities. No-deal prospects may increase if, as is widely expected, ardent Brexiteer Boris Johnson becomes the UK’s next prime minister. However, some banks argue that Johnson’s appointment would make little difference to no-deal or remain probabilities.

The pound is unlikely to receive much in the way of meaningful respite until November, analysts say, when hopefully the UK-EU Brexit arrangement, or lack thereof, is known (Boris Johnson insists that the UK will not seek any further Article 50 extensions beyond the October-31 deadline).

The pound would be doing far worse if it weren't receiving some support from the Bank of England which, surprisingly, is the only major central bank still considering higher interest rates in 2019.

Read more in the article GBP Forecasts.

 

United States Dollar (USD)

The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).

As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.

Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

Read more in the article USD Forecasts.

Why can't I just get the GBP/USD market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the GBP / USD was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

GBPUSD blended flags

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all GBP Exchange Rates