What is the Interbank rate?
Foreign currency values fluctuate constantly. When WorldFirst refers to the Interbank Rate, we mean the rate that banks use when they transfer currencies between each other.
The Interbank Rate changes by the second. When a bank publishes their buy/sell rate for a currency pair, a margin of up to 5% is usually added to the Interbank Rate. WorldFirst allow you to transfer your money overseas at a much lower margin than the big banks by adapting to ongoing market changes and leveraging off our global network.