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difference between interbank exchange rate and tourist exchange rate

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Found 16th Dec 2014
whats the difference between interbank exchange rate and tourist exchange rate.

and why is there a difference between the two.

Thanks in advance for answering this
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4 Comments
Tourist exchange rate will have an extra margin. Interbank will be cheapest.
In a nutshell the interbank exchange rate is used for huge quantities of currency - as used by the banks eg when converting your debit or credit card spend into your home currency -The Tourist rate is what you get when you change your £500 for holiday spending money (along with thousands of other transactions ) . The Tourist rate is therefore always worse by 2-3 % .

Edited by: "rogparki" 16th Dec 2014
As above. If you have a card which doesn't charge a fee for overseas transactions this will be cheaper than converting cash. If you're looking for one I'd start with Nationwide or Capital One although I haven't checked for several years.
devette777

As above. If you have a card which doesn't charge a fee for overseas … As above. If you have a card which doesn't charge a fee for overseas transactions this will be cheaper than converting cash. If you're looking for one I'd start with Nationwide or Capital One although I haven't checked for several years.




Halifax Clarity Credit Card is the best option, it gives full Mastercard rate without any commission charges, it does charge interest from date of transaction, until paid off.
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