I am in the position of having to change US Dollars into UK pounds on a regular basis and have been surprised at the difference in exchange rates provided by my bank from the published rates.
Usually there is a difference of over 3 cents from the rate I get ( Royal Bank of Scotland, "commercial rate") compared to what I see on say the BBC website as the exchange rate.
Now obviously these rates are presumably for transfers in the millions rather than thousands, but I would have expected to get closer to them than
3 - 3.5 cents.Anyone know if this difference is typical, or if any other UK Name banks will do a better deal on a regular basis?
My ideal would be someone who can offer the whole thing online, with dollar and sterling accounts and change between them at will, at a competitive rate.
If anyone knows any way of comparing the rates available from different banks, or can suggest any solutions I'd appreciate it.