What are the mid-rate and the interbank rates?
The rates that appear online as "mid rates" or "interbank rates" only apply to amounts over £5,000,000.
They are an indicative rate halfway between the buy rate and the sell rate and no-one can trade at these rates.
We will endeavour to quote you an exchange rate closer to these mid rates. If there is an exchange rate you are trying to achieve, we will watch the market for you and can transact or call if the rate is reached.