RateCheck

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

British Pound → Euro

GBP → EUR is the second-busiest UK travel corridor (just behind GBP/USD). High-street banks habitually quote 2–4% over the mid for in-branch counter sales.

Live rates unavailable — showing reference data. The gap shown may differ from the live figure; try again shortly.
Recipient gets at the mid-market rate
1,166.76EUR
For 1,000 GBP · 1 GBP = 1.1668 EUR
Enter the rate you were quoted above to see the gap from the mid-market rate.
Spot mid source: fallback · Indicative only

About the GBP/EUR pair

This page shows today’s wholesale GBP/EUR 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

Sterling flows into euros for holidays and second homes in Spain, France and Portugal, for UK retirees living in the euro area, and for UK businesses paying suppliers on the continent.

Parents fund students on exchange in Dublin or Amsterdam, UK freelancers pay European contractors, and property owners settle mortgages, utility bills and local charges in euros.

What moves GBP/EUR

The Bank of England and the European Central Bank set the policy rates. The pair tracks the gap between them and anticipated changes to it.

UK inflation, wage growth and the Bank's rate decision move sterling; euro-area flash inflation, the purchasing managers' surveys and the ECB meeting move the euro. UK fiscal announcements and UK-EU trade news can also shift the rate.

GBP/EUR is a steady cross by major-currency standards, since both economies are close trading partners. It still moves more on UK domestic news than on euro-area news.

How to read a quote

GBP/EUR is quoted as euros per pound, a figure above one. When sending pounds, a customer rate below the mid-market rate delivers fewer euros, and the difference is the provider's margin.

Retail banks commonly build a few per cent into the rate; specialist providers are often under one per cent. Cash exchanged at airports and hotels typically carries the widest margins on this route, because it is exchanged at the last minute.

Common questions

How far is my GBP/EUR quote from the mid-market rate?+
Compare the rate you've been quoted with the live mid-market GBP/EUR 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 British pound to euro?+
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 GBP/EUR rate.
Is the mid-market GBP/EUR 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.
Why is the euro rate at the airport so different from the mid-market rate?+
Airport bureaux pay high rents and serve travellers with no alternative, so their margins are among the widest in retail exchange. The mid-market rate is the wholesale benchmark; everything between it and the counter rate is margin.
Do I pay a fee to send pounds to a euro account?+
Some providers charge a fixed fee, others charge nothing and price the transfer through the rate alone. The total cost is the fee plus the rate margin, which is why comparing euros delivered is clearer than comparing fees.
Can I pay a Spanish mortgage from a UK account?+
Yes, as an international transfer or by standing order through a provider. Each payment is converted at the rate on the day, so the sterling cost of a fixed euro payment changes month to month.

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