The amount you are spending or withdrawing in the local currency (e.g., €100).
Check the current Mastercard or Visa exchange rate for the currency.
Metro Bank standard fee is typically 2.99% for non-European transactions.
Flat fee for ATM withdrawals (usually £1.50 outside SEPA). Enter 0 for card purchases.
Base Cost (Before Fees):£0.00
Percentage Fee (2.99%):£0.00
Flat Cash Fee:£0.00
Total Cost to You:£0.00
Effective Exchange Rate:1 GBP = 0.00 Foreign
function calculateMetroCost() {
// Inputs
var foreignAmt = parseFloat(document.getElementById('mb-spend-amount').value);
var rate = parseFloat(document.getElementById('mb-rate').value);
var feePct = parseFloat(document.getElementById('mb-fee-percent').value);
var feeFlat = parseFloat(document.getElementById('mb-fee-flat').value);
// Validation
if (isNaN(foreignAmt) || isNaN(rate) || foreignAmt <= 0 || rate <= 0) {
alert("Please enter a valid spending amount and exchange rate.");
return;
}
if (isNaN(feePct)) feePct = 0;
if (isNaN(feeFlat)) feeFlat = 0;
// Calculations
// 1. Calculate base GBP cost (Amount / Rate)
var baseGbp = foreignAmt / rate;
// 2. Calculate Percentage Fee (applied to the GBP equivalent)
var costPercent = baseGbp * (feePct / 100);
// 3. Total Cost
var totalCost = baseGbp + costPercent + feeFlat;
// 4. Effective Rate (Foreign Amount / Total GBP Cost)
var effectiveRate = foreignAmt / totalCost;
// Display Results
document.getElementById('mb-results').style.display = 'block';
document.getElementById('res-base').innerHTML = "£" + baseGbp.toFixed(2);
document.getElementById('res-percent-label').innerHTML = feePct;
document.getElementById('res-percent-fee').innerHTML = "£" + costPercent.toFixed(2);
document.getElementById('res-flat-fee').innerHTML = "£" + feeFlat.toFixed(2);
document.getElementById('res-total').innerHTML = "£" + totalCost.toFixed(2);
document.getElementById('res-effective-rate').innerHTML = "1 GBP = " + effectiveRate.toFixed(4) + " Foreign";
}
Understanding Metro Bank Exchange Rates and Fees
When using your Metro Bank card abroad or looking to exchange currency, understanding the true cost of the transaction is vital for budgeting. While the exchange rate you see on Google (the interbank rate) looks attractive, the actual cost to you often involves additional banking fees.
How Metro Bank Charges for Foreign Currency
Metro Bank, like many UK high street banks, applies specific charges depending on where you use your card and how you use it (spending vs. cash withdrawal).
1. The Exchange Rate
Metro Bank typically uses the Mastercard exchange rate for card transactions. This rate is usually very close to the market "mid-market" rate. However, the cost accumulates via the fees added on top of this rate.
2. Non-Sterling Transaction Fee (2.99%)
This is the standard fee applied to the GBP equivalent of your transaction. For example, if you spend €100 and the base exchange is £85, Metro Bank adds a 2.99% fee on that £85. This fee applies to both debit card purchases in shops/restaurants and cash withdrawals outside of the Single Euro Payments Area (SEPA).
3. Non-Sterling Cash Fee (£1.50)
If you use an ATM to withdraw foreign currency outside of the UK (and outside specific fee-free zones depending on your account terms), you are often charged a flat fee, commonly £1.50 per withdrawal, in addition to the 2.99% transaction fee.
Europe vs. Rest of the World
Historically, Metro Bank has offered fee-free transactions within Europe (SEPA) for many of its current accounts. This means you might not pay the 2.99% fee or the £1.50 cash fee when travelling in countries like France, Germany, or Spain. However, for travel to the USA, Asia, or other non-European destinations, standard fees usually apply.
Always check your specific account terms and conditions before travelling, as fees can vary by account type.
How to Use This Calculator
Spending Amount: Enter the price of the item or the amount of cash you want to withdraw in the local currency (e.g., 200 Euros).
Market Rate: Input the current exchange rate (e.g., 1.15 if 1 GBP buys 1.15 Euros).
Non-Sterling Transaction Fee: Leave at 2.99% for standard accounts outside Europe, or change to 0% if you are in a fee-free zone.
Non-Sterling Cash Fee: Leave at £1.50 if withdrawing cash outside Europe. Change to 0 if making a card purchase in a shop.
Calculation Example
If you withdraw $200 USD in New York:
Exchange Rate: 1.25 USD/GBP.
Base Cost: $200 / 1.25 = £160.00.
Transaction Fee (2.99%): £160 * 0.0299 = £4.78.
Cash Fee: £1.50.
Total Cost: £166.28.
This calculator helps you see these hidden costs instantly so you know exactly how much will leave your GBP account.