Exchange rates · App comparison 2026
Best exchange rate app (2026)
Wise for transfers. Starling or Monzo for travel spending. XE for large amounts. Here is exactly which app gives you the best rate for each use case — based on true FX costs, not marketing claims.
Quick verdict
Best app by use case
Sending money internationally
Wise
Mid-market rate, 0% FX markup, transparent fee
Spending abroad (card)
Starling Bank
Mid-market rate, zero foreign transaction fee, free account
Multi-currency account
Wise
Hold 40+ currencies, convert at mid-market rate
Large transfers (£10,000+)
XE / OFX
Zero fee, competitive FX margin on high amounts
Weekend transfers
Wise
No weekend markup, unlike Revolut
Budget travel
Monzo (free)
Zero forex fee, no monthly charge, solid app
Full app comparison
Best overall for transfers
Exchange rate
Mid-market (true interbank rate)
FX markup
0%
Fee
0.4–1.5% + small flat
Pros
- True mid-market rate on all plans
- Available in 80+ countries
- Multi-currency account
- Transparent pricing
Cons
- Percentage fee adds up on large transfers
- Not a full bank account in most countries
Best for travel card spending
Exchange rate
Mastercard rate (≈ mid-market)
FX markup
0%
Fee
£0 for card spending, £0.30 ATM fee abroad
Pros
- Zero foreign transaction fee
- No monthly fee
- 24/7 phone support
- FSCS protected
Cons
- UK only
- No multi-currency account
- Not for sending international transfers cheaply
Best free travel card
Exchange rate
Mastercard rate (≈ mid-market)
FX markup
0%
Fee
£0 for card spending (free plan: £200/month ATM limit abroad)
Pros
- Zero forex fee on card spending
- Instant spending notifications
- Freeze card instantly
- FSCS protected
Cons
- ATM limit abroad on free plan
- UK only
- International transfers via Wise (added cost)
Good but weekend markup is a catch
Exchange rate
Mid-market on weekdays, +0.5–1% weekends
FX markup
0% weekdays / 0.5–1% weekends
Fee
Free plan: limits apply; Metal: unlimited
Pros
- Multi-currency account
- Crypto exchange
- Travel insurance on paid plans
- Wide acceptance
Cons
- Weekend FX markup
- Monthly limits on free plan
- No FSCS protection on e-money balance
- Customer service complaints
Best for large transfers
Exchange rate
Near mid-market
FX markup
0.5–1.5%
Fee
£0 transfer fee
Pros
- Zero transfer fee
- Competitive rate on large amounts
- No account balance limits
- Established brand
Cons
- Not as transparent as Wise
- No app-based multi-currency account
- Rate varies without upfront quote
What is the mid-market rate and why does it matter?
The mid-market rate — also called the interbank rate or "real" exchange rate — is the midpoint between the buy and sell prices in the wholesale currency market. It is the rate you see on Google, XE.com, or Reuters. No consumer ever transacts at exactly this rate, but it is the fairest benchmark for comparison.
Banks and many money transfer services add a markup above the mid-market rate — typically 2–4% for banks, 0.5–2% for online services. This markup does not appear as a line-item fee. It is embedded in the quoted exchange rate and is entirely invisible unless you compare against the mid-market rate yourself.
Wise charges 0% FX markup — it passes the mid-market rate directly to customers and charges a separate, transparent percentage fee. This makes its pricing the most honest in the industry. When an app says "0 fees" but uses a marked-up rate, the cost is still there — just hidden.
Wise vs Revolut: the weekend problem
Revolut uses the mid-market rate on weekdays but adds a 0.5–1% markup on weekends because currency markets are closed and Revolut takes on exchange rate risk overnight. On a £1,000 transfer on a Saturday, this adds £5–10 in hidden cost compared to a weekday transfer.
Wise does not have a weekend markup. Its pricing is the same 7 days a week. For planned transfers, this is rarely a problem with Revolut — just transfer on a weekday. But for spontaneous weekend transfers or time-sensitive payments, Wise is more predictable.
Revolut's free plan also has a monthly limit on fee-free currency exchange (£1,000/month for the free plan). Beyond this, a 0.5% fee applies. Wise has no such monthly limit.
App vs bank: how much do you save?
| Provider | Fee on £1,000 | FX markup | True total cost |
|---|---|---|---|
| High-street bank | £20–30 | 2.5–3.5% | £45–65 |
| Revolut (free) | £0 (weekday) | 0% weekday | £0–10 |
| Monzo | £0 | 0% | £0 |
| Wise | ~£4–6 | 0% | £4–6 |
| Starling Bank | £0 (card spending) | 0% | £0 |
| XE (large amounts) | £0 | 0.5–1% | £5–10 |
*Indicative costs on a £1,000 transfer or equivalent spending. Actual costs vary by corridor and amount.
Compare live
See the best rate available right now
Live rates from Wise, Remitly, XE, Western Union and 15+ more providers. Sorted by recipient amount.
Frequently asked questions
What app gives the best exchange rate?
Wise gives the best exchange rate for international money transfers — it uses the true mid-market rate with zero FX markup. For spending abroad on a debit card, Starling Bank and Monzo both offer the mid-market rate with zero foreign transaction fees.
Is Wise or Revolut better for exchange rates?
Wise is better for transfers — no FX markup on any day of the week, no monthly limits. Revolut adds 0.5–1% on weekends and has free plan monthly limits. For everyday spending abroad, both are similar on weekdays.
Which app has the best currency exchange for travel?
Starling Bank and Monzo are both excellent for travel — mid-market rate, zero foreign transaction fee, free accounts. Starling has better customer support. Monzo has a more feature-rich app. Both are FSCS protected.
Is there a free app with good exchange rates?
Yes — Starling Bank and Monzo are free UK current accounts with zero foreign transaction fees and mid-market exchange rates on all overseas card spending.