RateCheck

EUR to GBP — compare your quote with the mid-market rate

Euro → British Pound

EUR → GBP traffic spikes around tourism, property, and cross-Channel commerce. The mid moves a few basis points a day; most of what you're charged is the provider's margin, not market volatility.

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Recipient gets at the mid-market rate
857.08GBP
For 1,000 EUR · 1 EUR = 0.8571 GBP
Enter the rate you were quoted above to see the gap from the mid-market rate.
Spot mid source: fallback · Indicative only

About the EUR/GBP pair

This page shows today’s wholesale EUR/GBP mid-market rate beside the rate a bank, broker, or kiosk has quoted you. The result is the gap between the two, as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount. The mid-market rate is the rate banks trade at, not a rate you can transact at directly — providers add their margin on top, and that margin is the gap RateCheck shows.

Who sends money on this route

Euros move to sterling for cross-border workers and businesses across the Channel and the Irish border: Irish firms paying UK suppliers, EU companies paying London-based staff, and EU citizens who own property in the UK.

Families in the euro area fund students at UK universities, and retirees who spent careers on the continent bring pensions back to the UK.

What moves EUR/GBP

The European Central Bank and the Bank of England set the policy rates. The gap between them, and anticipated changes in it, is the main driver of the cross.

Euro-area flash inflation and the ECB decision matter on one side; UK inflation, wage growth and the Bank of England's decision on the other. Trade and political news between the UK and the EU can also move it.

EUR/GBP is a relatively steady cross: both currencies belong to large, open economies, and it moves less than either does against the dollar on a typical day.

How to read a quote

EUR/GBP is quoted as pounds per euro, a figure below one. A customer rate below the mid-market rate means fewer pounds for each euro sent, and the gap is the provider's margin.

Banks commonly build a few per cent into the rate; specialist providers are often under one per cent. Because the number is small, a difference in the third decimal place already represents a noticeable share of the amount.

Common questions

How far is my EUR/GBP quote from the mid-market rate?+
Compare the rate you've been quoted with the live mid-market EUR/GBP rate — the wholesale rate banks trade at. RateCheck shows the gap as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount.
How much do banks and brokers charge to convert euro to British pound?+
Retail bank margins on international transfers are commonly a few per cent; specialist providers are often under one per cent. The margin is built into the exchange rate, usually on top of any fixed transfer fee, and is rarely shown separately. RateCheck shows it as the gap between your quote and the mid-market EUR/GBP rate.
Is the mid-market EUR/GBP rate the rate I'll actually get?+
No. The mid-market (interbank) rate is the wholesale reference; providers add their margin on top. It's the rate the gap is measured from, not a rate you can transact at directly.
Can I send euros to a UK account without conversion?+
Some UK accounts accept euro balances, so the transfer can stay in euros. If the account holds sterling only, the receiving bank converts at its own rate unless the sender converts first.
Why is EUR/GBP less volatile than EUR/USD?+
The UK and the euro area are close trading partners with similar economic cycles, so their currencies often move together against the dollar. The cross between them changes less as a result.
Does the Irish border affect EUR/GBP transfers?+
Payments between Ireland and Northern Ireland are ordinary international transfers between euro and sterling accounts. There is no special rate, but the volume of small, frequent transfers on this route means margins vary widely between providers.

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