Do not be fooled with low cost bank to bank transfer fees-the truth is, it is not cheap because they make their money from the rate itself!
Currency brokers typically give GBP/QAR quotes with approximately 1% spread from the inter-bank exchange rate. This is pretty good considering retail banks offer a spread of somewhere between 3.5 – 5% :(
Example:
Interbank exchange rate = 5.5 (i.e. 5.5qar needed to buy 1gbp)
Bank rate = 5.69 to 5.78 (plus transfer fee)
Currency broker = 5.55 (plus transfer fee)
Do not be fooled with low cost bank to bank transfer fees-the truth is, it is not cheap because they make their money from the rate itself!
Currency brokers typically give GBP/QAR quotes with approximately 1% spread from the inter-bank exchange rate. This is pretty good considering retail banks offer a spread of somewhere between 3.5 – 5% :(
Example:
Interbank exchange rate = 5.5 (i.e. 5.5qar needed to buy 1gbp)
Bank rate = 5.69 to 5.78 (plus transfer fee)
Currency broker = 5.55 (plus transfer fee)