M&S BANK UK POUND & EURO EXCHANGE RATES
| M&S BANK | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATES | MORE DETAILS |
|---|---|---|---|---|---|
| GBP £ - to EUR | NO MINIMUM | 5/7 DAYS | 5.0% | €1.093 |  |
| EUR € - to GBP | NO MINIMUM | 5/7 DAYS | 5.0% | £0.826 | |
| BROKER RATES | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATES | MORE DETAILS |
| GBP £ - to EUR | From £100 | From 1 DAY | From 0.7% | €1.142 |  |
| EUR € - to GBP | From £100 | From 1 DAY | From 0.7% | £0.863 | |
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
M&S BANK – RECOMMENDED CURRENCY TRANSFER SERVICES
| BROKER RATES: GBP/EUR | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATE: GBP/EUR | MORE DETAILS |
|---|---|---|---|---|---|
| TORFX | £250 | 1 DAY | 0.7% | €1.142 |  |
| CURRENCIES DIRECT | £100 | 1 DAY | 0.7 to 1.0% | €1.139 to €1.142 | |
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Question: How many pounds or euros will I receive for my currency transfer, after M&S Bank fees and charges?
Answer: Using M&S Bank services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
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M&S Bank International Money Transfers
Save on the exchange rate conversion when transferring money abroad from your Marks & Spencers Bank account in UK pounds, the euro and other currencies. M&S Bank international money transfers to or from the UK have higher transaction charges, due to a less competitive exchange rate offered by M&S bank. Skip to: UK Money Transfer Specialists
Typically, sending funds to or from your M&S Bank account in UK pounds, euro or US dollar overseas bank account will involve a margin rate of 5.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Currency Transfer Alternatives – M&S Bank
Sending foreign currency to or from your M&S Bank account in the UK needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of £100,000 UK pounds (GBP) using M&S Bank services would have a transaction exchange rate margin of around 5.0% – or £5,000 GBP. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only £700 GBP in total, which is a large saving over the bank service.
M&S Bank – Other Useful Information
International money transfers from M&S Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing M&S Bank account holder to use their services. M&S Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000.
Unless you pay a premium, M&S Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
M&S Bank, UK – About
M&S Bank (Marks & Spencers) operates a number of branches within UK M&S stores and is a subsidiary of HSBC. Currently there are around 30 banking branch locations and most M&S Bank branches are open whenever M&S stores are open – including evenings and weekends.
M&S Bank – Head Office Address
M&S Bank – Kings Meadow, Chester, CH99 9FB, United Kingdom
TRANSFER PROMOTIONS
