The interbank exchange rate is the dynamic rate at which banks swap currencies between one another. It is a real-time rate, which is why it is constantly changing in our app and website. We receive these rates from third parties, such as Morningstar and Currencycloud.

If you exchange currencies on weekdays (Mon-Fri UTC) you will receive the interbank exchange rate without any markup on all currencies except for Thai Baht and Ukrainian Hryvnia where there's a 1% markup, with a small 0.5% fee for anything above €6,000 each month.

On the weekend (Sat-Sun London time) the provided rates are fixed to protect against fluctuations, this means there are markups of:

• +0.5% to all major currencies (ie. USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN, and CZK); and
• +1% to all other currencies including THB and UAH. (this means over the weekend THB and UAH have a 2% markup.)

Since the interbank exchange rate is constantly fluctuating, the rates locked in for the weekend may not be the same as the rates that are available when the markets open on Monday morning.