In a word - yes.

Simply put, on top of the mid-market exchange rate (more on this below) we charge 0%, 1%, 1.3 or 2% plus a small spread (more on this too), while banks and bureaux de change charge anything up to 11% and above.  

Let’s break it down.. 

We use the mid-market rate (or rate) as a reference to set our rates.  This is the theoretical mid-point between buyers and sellers of a currency and is the rate used in global financial markets. More on that here. 

As it’s only theoretical, everyone pays a small fee on top of it, even large financial institutionsThereforefrom time to time, we’ll add a small surcharge to that rate (also called a spread); mostly zero or very close 

On top of this, we only charge 1%, 1.3% or 2% (0% if you if you join us and bring 3 new friends to WeSwap)Other places may say they offer 0% commission. But in reality, they manipulate the exchange rate to effectively charge you anything from 2% up to 11% and aboveThis can be a combination of a spread, fees or commission.  

The net result is some of the cheapest currency available. Sometimes cheaper by as much as 90%.  

We will always show you the rate you’re getting (just tap the View button next to the swap on your dashboardand if you want to find out what the mid-market exchange rate is at any time, websites such as provide very close approximations of the rates trading in the interbank market. 

Feel free to check out all our fees and limits here if you like. 

You can also use our Smart Swap feature to target future exchange rates. Which means you can get some of the cheapest travel money out there while also making sure you take advantage of big market moves.  


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