Tool
FX trap detector
A no-spin comparison of the realistic cost of turning your home currency into pounds — through an airport bureau, your bank card, a prepaid card or a fee-free travel card. Spreads and FX margins change weekly; this is built from published ranges for 2024–2026 and updated against the FCA and Which? surveys.
Reference mid-rates: GBP/USD 1.27, GBP/EUR 1.17, GBP/AUD 1.95, GBP/CAD 1.74, GBP/JPY 195, GBP/INR 105, GBP/CNY 9.2, GBP/BRL 6.7 (approximate 2024–2026 averages; refreshed against Bank of England daily rates).
What this solves
A £200 bank fee on a £2,000 conversion is the difference between an okay and a painful UK trip. Each conversion path has a different cost structure: bureaus de change charge a spread (often 6–12%), home bank cards charge 1.5–3% on the FX and another £1–£2 per ATM withdrawal, prepaid cards stack their own margin, while Revolut and Wise stay near the interbank rate plus a tiny service charge.
How to read the result
- Cost in home currency = what you give up to land your £ amount.
- Effective £ received = pounds in your pocket / wallet / card.
- Best path ranks cheapest first; worst path ranks most expensive.
- Always decline dynamic currency conversion when an ATM or terminal asks. The "I want to be charged in your home currency" option is nearly always worse.
Limitations
- Spread on a bureau varies by currency — exotic currencies (INR, ZAR, BRL) carry wider spreads than the major pairs.
- Some banks waive FX fees for premium cardholders — this tool uses a standard fee structure.
- Revolut and Wise use mid-market rates plus a tiny service fee on weekends; the tool assumes weekday usage.
- Cash withdrawals from your credit card are treated as a "cash advance" and start accruing interest from day one — usually a bad idea.
FAQ
Should I bring pounds in cash from home?
Only £50–£100 to get you from the airport to the hotel. Buying from your home bank in advance usually costs 2–4% + a flat fee, while spending on a fee-free travel card at the till costs you 0–0.5%.
Revolut or Wise?
Both use mid-market rates. Wise has a transparent £/percentage fee per transaction; Revolut standard has zero markup during the week and a small weekend surcharge (0.5–2%) if you cross your allowance.
Are bureaux de change regulated?
Yes — by the FCA under PSD2. They must show their commission / margin in writing. Airport bureaux are authorised; they're just usually the most expensive because of the captive audience.
Is the airport bureau always the worst?
Often yes — especially out-of-hours FX kiosks near baggage reclaim. Central London bureaus at King's Cross or on the Strand can be competitive for major pairs (EUR, USD) during the day. The "0% commission" claim at airports is misleading; the markup is in the rate.
Sources
- Bank of England — Daily spot exchange rates (mid-market), 2024–2025.
- Which? — Currency exchange and travel money survey, 2024.
- FCA — Authorised payment institutions and e-money register, 2024 update.