Information about exchange rates
What rate of exchange will I get?
Your dedicated dealer will secure you a current commercial rate of exchange, with a competitive rate compared to high street banks. You are not quoted an average or estimated conversion rate and not charged commission for overseas purchases. Furthermore, there is no transfer fee for payments over £3,000, and only a £10 transfer fee for lower amounts.
Can I renegotiate if the exchange rate changes?
No. If you choose a forward contract it means that you agree to buy a certain amount of foreign currency, on a certain future date, at a certain rate. For spot transactions, the rate that is given when the deal is executed is the rate that will be used for the transaction. Whatever happens to the exchange rate in the currency markets during and after that time does not affect your agreement.