Exchange rate - Not even close to interbank rate


Hi there

I have been checking the exchange rates between GBP and CRC during the weekend and up to today, Tuesday, and I haven’t found yet a moment when Revolut rate gets even close to the Interbank rate.

It is currently at 1 GBP=731.60 in some souces and 731.869 in Visa.

All the previously sourced rates are way better than the current Revolut exchange rate, 1 GBP=719.22. In all the times that I have checked during these days the Revolut rate was always 1GBP= 719 CRC, with only decimal variations.

I am very disappointed becasue I got this card ONLY to travel to Costa Rica, under the promise that I will get the Interbank rate, and this is not even close to it.


I believe what you are referring to is the mid market rate, not the interbank spot rate, which fluctuates constantly when the market is open and is not a single rate per day. Also, there is a difference between bid and ask. Search this forum, the topic “interbank spot rate” is discussed here a lot :wink:

You are aware of Revolut’s weekend mark up?



Could you paste me a link of the famous interbank spot rate that you talk about? Because even though I have searched in different sources for exchange rates, including Visa, Mastercard, and International Banking apps all the rates given are way superior to Revolut’s rate for CRC.

And is not that is momentanuosly below the consulted rate becasue they change instantly, is that it has been consistently a about a 3% lower during the past 4 days.

I have not found this difference in other currencies, like euros.

And I have certainly considered the the weekend charges, but again, today is a Tuesday.


Please search this forum. You will find threads discussing this topic, and posts from people with better knowledge about this than me. First thing is to understand that most sources do not show bid/offer rates (interbank spot rates), but a single rate, called a mid market rate. This is an average rate between the two different rates for selling or buying. This could be one explanation why you see a difference here.


The basis of securities (a tradable financial instrument. Currencies are ) is that there is no such thing as ‘the price’ or ‘the rate’.

Two individuals/entities in a market play the role of the bidder and the asker. The bidder offers to buy, the asker offers to sell. Therefore, the ‘bid’ and the ‘ask’.

Depending on how the data is presented, data is usually the median between the bid and the ask, or the price of the last trade.

On the retail (consumer) level, the process of buying and selling securities is sometimes simplified so that the price just displays as the median between the bid and the ask.

Exchange rate error