Royal Bank of Scotland Exchange Rate Calculator
GBP – British Pound
EUR – Euro
USD – US Dollar
AUD – Australian Dollar
CAD – Canadian Dollar
EUR – Euro
USD – US Dollar
GBP – British Pound
AUD – Australian Dollar
CAD – Canadian Dollar
International Money Transfer (Digital)
Travel Money (Cash/Branch)
Premier Account Transfer
Note: Banks apply a margin over the mid-market rate.
Estimated Conversion
*This is an estimate based on current market averages plus typical RBS commercial margins. Actual rates provided in-app or in-branch may vary.
Understanding Royal Bank of Scotland (RBS) Exchange Rates
When you exchange money with the Royal Bank of Scotland, the rate you receive is not the "interbank" or "mid-market" rate you see on Google or Reuters. Like most high-street banks, RBS adds a margin to the base exchange rate to cover service costs and generate profit.
How RBS Calculates Currency Conversions
The total cost of your foreign exchange transaction at RBS typically consists of two parts:
- The Exchange Rate Margin: This is the difference between the wholesale market rate and the retail rate offered to customers. This margin usually ranges from 2% to 5% depending on the currency pair and the amount.
- Transaction Fees: Depending on your account type (e.g., Select, Reward, or Premier), you may face flat fees for international wire transfers (SWIFT/SEPA) or cash delivery.
Example: Sending £1,000 to Europe
If the mid-market rate for GBP to EUR is 1.17, the interbank value of £1,000 is €1,170. If RBS applies a 3.5% margin, the rate offered would be approximately 1.129. Your recipient would receive €1,129, meaning the cost of the exchange margin is roughly €41.
Tips for Using the RBS Exchange Rate Calculator
To get the most accurate estimate using our tool, follow these steps:
- Select your Currency Pair: Choose the currency you currently hold and the one you wish to receive.
- Choose Service Type: Digital transfers via the RBS mobile app often have more competitive rates than buying physical travel cash at a branch.
- Compare with Mid-Market: Always compare the bank's quoted rate against the live mid-market rate to understand exactly what you are paying in "hidden" margins.
Common RBS Exchange Fees
| Service | Typical Fee |
|---|---|
| Standard Online Transfer | £0 – £15 (Variable) |
| Urgent Transfer (Overseas) | £20 – £30 |
| Travel Money Delivery | Free on orders over £500 |