What reference rate does the entity state it uses for currency conversion?
Answered for 5 of 6 firms. The entity's own statement of the rate it converts at — a named provider's rate, a mid-market point, a panel quotation, or its own internal rate — together with any margin or percentage added to it. Record what the document says the rate is. Do not compare it to a benchmark the document does not name.
FREETRADE LIMITED
VerifiedThe ForEx rate that we show you will be the most recent best available rate that our panel of foreign exchange providers has quoted to us
The client agreement states that the ForEx rate shown to customers is the most recent best available rate quoted by the firm's panel of foreign exchange providers.
Binding document · Freetrade Limited · foreign exchange clause · Check the source
MONZO BANK LIMITED
Verifiedwe use Mastercard's exchange ratewith a 0% fee.
The document states that foreign currency transactions use Mastercard's exchange rate as the reference rate.
Binding document · Monzo Bank Limited · Check the source
STARLING BANK LIMITED
VerifiedIf you use your current account to take out cash abroad or make a payment using your debit card in a currency other than British pounds, we’ll use the Mastercard exchange rate.
The general terms state that Starling will use the Mastercard exchange rate when a customer takes out cash abroad or makes a debit card payment in a currency other than British pounds.
Binding document · Starling Bank Limited · Check the source
If we take money from a foreign currency account to pay for an account in British pounds, we’ll use whatever the Starling internal exchange rate is that day.
The general terms state that Starling will use the Starling internal exchange rate when taking money from a foreign currency account to pay for an account in British pounds.
Binding document · Starling Bank Limited · Check the source
Starling’s inbound exchange rate is based on a mid-market point calculated from third-party exchange rates, plus a margin.
The document states that Starling's inbound exchange rate is based on a mid-market point calculated from third-party exchange rates, plus a margin.
Binding document · Starling Bank Limited · Check the source
When you make an international payment by card, we’ll normally make it in the British pounds equivalent of the foreign currency using the Mastercard exchange rate.
The agreement states that international card payments are made using the Mastercard exchange rate.
Binding document · Starling Bank Limited · Check the source
When you make an international payment by card, we’ll normally make it in the British pounds equivalent of the foreign currency using the Mastercard exchange rate.
The terms state that for international card payments, the payment is normally made in the British pounds equivalent of the foreign currency using the Mastercard exchange rate.
Binding document · Starling Bank Limited · Check the source
TRADING 212 UK LIMITED
VerifiedThe applicable FX exchange rate will be the live interbank exchange rate.
The client agreement states that the FX exchange rate applied to currency conversions is the live interbank exchange rate.
Binding document · Trading 212 UK Limited · Check the source
any exchange will be done at the live currency exchange interbank rate
The client agreement states that currency exchange for dividend payments will be done at the live currency exchange interbank rate.
Binding document · Trading 212 UK Limited · Check the source
WISE PAYMENTS LIMITED
VerifiedWe only use the mid-market rate — the one you can check on Google
Wise states that it only uses the mid-market rate, described as the rate you can check on Google.
Published by the firm · Wise Payments Limited · Check the source
the exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) that is offered by Wise, which is typically provided by a reference rate provider and usually the mid-market exchange rate.
The agreement states that the exchange rate offered by Wise is typically provided by a reference rate provider and is usually the mid-market exchange rate.
Binding document · Wise Payments Limited · Check the source
If you withdraw cash or make a purchase in a foreign currency that is not supported by Wise, the rate charged by the VISA/MASTERCARD® network shall apply.
The agreement states that if a foreign currency purchase or withdrawal is made in a currency not supported by Wise, the rate charged by the VISA/MASTERCARD network shall apply.
Binding document · Wise Payments Limited · Check the source
No qualifying source was located within the evidence window. This records what we could not confirm, and carries no inference about the firm.
Every firm here was asked the same question against the same published standard, and every answer quotes the passage it came from. Where the answers differ, the difference is in the firms’ own documents, not in how we read them.
Darker text marks stronger evidence. A statutory register prints at full strength; a firm’s own marketing prints lighter. The methodology sets out the weightings.