I’m trying to understand why the exchange listed on the Rates & Conversions tab is different to the rate I get when I make a payment from GBP into my Canadian Bank Account (CAD$).
I understand that rates are Live and fluctuate second by second, but normally that means the amount is also constantly adjusted as a result.
The Rates & Conversions tab shows me a rate of £1 GBP = $ 1.7542 CAD, so $17,500 costing me £9,971.85. But when I go to make the actual payment it is showing that cost as £10,007.80… so where is this additional charge of £35.95 coming from? It’s not the transfer fee, cos that is shown in the next screen (additionally approx £25). The original rate is also what is listed on the Revolut website if you check conversation. It’s also not the weekend rate since it was outside that time window and the amount of not 0.5%…
Now, I don’t care what the rate is, it is what it is. But the Rates & Conversions showing a different amount to what I actually get when I go to do the transfer is both misleading and annoying. It’s not a huge amount compared to the original sum, the rate is still obviously better than bank to bank, but ever so slightly worse than transferwise with the total fees included, marginally so by $20 (again, not big comparatively, but still…)