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Understanding the Table:
The comparison table above helps you see the total cost of your Natwest Bank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
According to the https://www.natwestinternational.com/ website there is no charge to convert money between currencies.
They then go onto say that “Any costs are built into the agreed rate applied to the Foreign Exchange transfer, which includes our margin. The margin applied varies depending upon how much you want to trade.”
That type of hidden cost of Foreign Exchange is what BER makes easier to calculate here.
The Natwest Bank GBP to AUD exchange rate is 2.0094. This is -3.8% compared to the latest GBP-AUD mid-market rate 2.0893.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare British pound (GBP) to Australian dollar (AUD) rates from different sources before making a conversion.
The above Natwest Bank - Sterling to Aussie comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Natwest Bank and other foreign exchange providers against the latest GBP-AUD mid-rate and the possible savings of using various providers.
Looking at the full GBP to AUD - Send Money comparison table the provider with the best GBP to AUD exchange rate is Wise at 2.0799, -0.45% from the latest mid-market rate 2.0893.
The next best is OFX at 2.0789, -0.5% from the mid-rate.
Then XE at 2.0767, which is -0.6% from the mid-rate.
The Western Union rate is 2.0684 which is -1% from the mid-rate.
Among the banks the Lloyds Bank rate is 1.9822 at -5.1% the Royal Bank of Scotland rate is 1.9947 at -4.5% and the Barclays Bank rate is 2.0161 at -3.5% compared to the mid-rate 2.0893.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Natwest Bank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
