Welcome to Foreign Currency Direct's Price Promise FAQs. If you can’t find the answer you’re looking for, please email us at info@currencies.co.uk or call us free on 0800 328 5884* and we’ll get back to you as soon as we can.

*Our office hours are, Monday to Thursday: 8.30am-7pm, and Friday: 8.30am-5pm


We work with an independent market research provider (FXC Intelligence) who gathers exchange rates across multiple foreign exchange providers (specifically the UK banks) at certain points in time.

We then calculate our rate by identifying the average margin across all equivalent transactions for private clients during the same time period. The margin (the cost to our customers) is calculated using the mid-market rate, obtained from www.exchangerates.org.uk on the day the transaction was performed.

If you do find a better exchange rate from one of the UK banks for the same currency pair, amount and service offering, you can make a price match request. Just let us know in one of the following ways:

Make a claim using this form [form to be created]

We’ll then review the submitted information to be sure that the quote is eligible for a price match. You can find out more about what we mean by UK high street banks in the ‘??’ section.

We will then need to make sure that the quote is for a like for like service, and will check the currency pair (e.g. GBP/EUR), amount, service conditions and the time of the quote to match against our own service conditions. The foreign exchange market is constantly moving so we would require that the any quote from another organisation is provided in writing and within 30 minutes of our own quote.

We compare our service offering to those of the UK high street banks, which provide the same currencies, amounts and transfer methods to our own.

The main UK banks we compare against are:

  • Natwest
  • Barclays
  • HSBC
  • Lloyds
  • RBS
  • Santander
  • Halifax

Currency providers that fall outside of the high street banks could be operating an online only service and therefore do not offer the same level of service in comparison.

To qualify for a price match, the quote needs to be for:

  • The same currency pairing
  • The same service conditions (ie – telephone assistance, rather than online)
  • The same amount of currency
  • Within 30 minutes of our quote
  • The same type of contract (spot contract)

We will match an exchange rate provided to our account management team by the methods detailed previously, if they meet the ‘like for like’ criteria confirmed above. A proof of a quote needs to be provided from the competitor within 30 minutes of our ability to provide a comparative quote.

The comparison will only apply for the currencies listed here [link to currencies page] and apply to the exchange rate that is being quoted by FCD and the alternative supplier. Any transfer fees or charges are excluded from the comparison. It must be a genuine price, not interbank rates, price available to staff or promotional offers.

We are confident that our clients will always receive the best possible service from their dedicated account manager. When we compare our services to that of the high street bank we ensure that it is always a like for like service offering, therefore a service delivered over the phone as opposed online only.