Smarter Global Payments

Spot Exchange Rates.

If you are transferring money internationally straight away, you will not be affected by fluctuations in international exchange rates and your currency will be converted at the ‘spot’ exchange rate.

A ‘spot’ rate is the rate at which a foreign exchange ‘pair’, such as GBP/USD or GBP/EUR, can be converted for immediate settlement. Large financial institutions buy and sell currency with each other at what is often called the ‘interbank rate’, or the wholesale rate. Everyone else, both individuals and SMEs, must use a bank or an FX broker to convert currency.

Both banks and brokers base their charge on the interbank rate, applying a ‘spread’ (mark-up) to it. They also charge for the sending of the payment, hitting your bank balance twice.

At CurrencyWave we support SMEs and individuals making international money transfers by:

  • offering super-low fees that you won’t find at a bank
  • openly showing you the interbank rate alongside our own rate (which includes our fee)
  • providing a quote for your international currency transfer, which you have 20 seconds to accept or reject (as the exchange rate is in real-time and can quickly change)
  • being open and detailed about what you will pay for currency transfer services
  • demanding no payment upfront for ‘spot’ rate transactions


Registering as a business with CurrencyWave is simple-to-do and will take just a few minutes of your time. It’s free to register and we just have to go through the steps that financial services regulation requires. Start the process now and begin your journey towards international bank transfer savings.

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