NatWest exchange rate study: Save money on currency transactions
NatWest offers convenient ways to spend, send and receive money in a multitude of different currencies. Foreign exchange rates represent a major pricing point and there is often little clarity around them. We researched NatWest’s exchange rates to provide you a table showcasing their currency rate spread.
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Make sure to compare NatWest’s exchange rates with the rates of other currency providers to ensure you get the best deal.
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NatWest exchange rates
The exchange rate table below refers to international money transfers.
|Currency||ISO Code||Exchange Rate||Interbank Rate||Exchange Rate Spread|
|Cayman Islands Dollars||KYD||0.9733||1.05276||7.55%|
|Costa Rican Colon||CRC||680.934||797.05631||14.57%|
|Dominican Republic Pesos||DOP||58.2142||64.44167||9.66%|
|East Caribbean Dollars||XCD||3.0604||3.46841||11.76%|
|French Pacific Franc||XPF||122.149||134.10159||8.91%|
|Hong Kong Dollars||HKD||9.464||10.04729||5.81%|
|Israeli New Sheqels||ILS||4.443||4.75298||6.52%|
|New Turkish Lira||TRY||6.6173||6.8438||3.31%|
|New Zealand Dollars||NZD||1.7767||1.86604||4.79%|
|Peru New Sol||PEN||3.799||4.32988||12.26%|
|Saudi Arabian Riyals||SAR||4.5927||4.81226||4.56%|
|South African Rand||ZAR||17.1041||17.96017||4.77%|
|South Korean Won||KRW||1,310.82||1438.39812||8.87%|
|Sri Lankan Rupee||LKR||205.191||226.31437||9.33%|
|Trinidad & Tobago Dollar||TTD||7.6992||8.62032||10.69%|
Know the latest interbank rate for your currency
The interbank rate (also called mid-market rate) is the midpoint between the buy price and sell price of two currencies on the currency markets. NatWest does not offer the interbank rate but instead adds a margin to it, which makes the foreign currency transaction more expensive for you.
Before using NatWest for international transfers, card payments abroad or your travel money needs, make sure to know the current interbank exchange rate. That way, you’ll be able to calculate FX losses on a foreign currency transaction. You can find the latest interbank rates using an online currency converter.
How to calculate your exchange rate loss
Here’s what you need to do in order to determine how much NatWest’s exchange rate spread is going to cost you:
- Multiply your original amount by the current interbank rate
- Multiply your original amount by the exchange rate NatWest offers
- Subtract the first amount from the second amount
- This is the amount you’ll lose through currency conversion with NatWest
Exchange rates can vary
Banks often offer different margins depending on the product and the customer. Commercial exchange rates offered to a business customer are usually better than exchange rates for individuals. For example, the currency conversion rate on an international transfer will differ from a card payment overseas.
FX rates also vary by currency and destination countries. For example, ordering currencies with low market liquidity in cash is likely to be more expensive.
Beware of currency conversion fees
For most types of currency transactions, there are usually more conversion fees that apply. These can either be administrative/service fees coming from NatWest, or third party fees from credit card providers or correspondent banks. Always make sure to ask your local branch manager for the full scope of fees before making a transaction involving foreign currency.
The information displayed is subject to change at any time and we do not guarantee 100% accuracy of the information. For the today’s rates, visit NatWest’s website, contact NatWest customer support, log into your online banking and use their respective exchange rate calculator or visit the nearest branch to get the latest rates.
Currencyfees.com is not liable for any financial decisions based on the above information. Currencyfees.com is supported by referral compensations by some of the companies listed in our articles.
*NatWest’s exchange rate was collected from NatWest’s website on 04/11/2017. Interbank rates collected from x-rates.com on 04/11/2017.