How accurate are the rates shown on PayinGlobal?
PayinGlobal's rates are generally very accurate, but there are important caveats:
What PayinGlobal shows: Real-time or frequently updated rates from provider APIs and websites, based on the transfer details you enter.
What can change:
Exchange rates fluctuate constantly (sometimes by the minute)
Provider rates may change between comparison and checkout
Promotional rates may expire
Your personal account status with a provider may affect rates
Accuracy level: Typically within 0.1-0.5% of the final rate you receive. PayinGlobal updates rates every few minutes for major providers.
Best practice: Use PayinGlobal to identify the best providers, then verify the exact rate on the provider's site before completing your transfer.
What is the mid-market exchange rate?
The mid-market exchange rate (also called the interbank rate or real exchange rate) is:
The midpoint between the buy and sell prices of two currencies
The rate banks and financial institutions use when trading with each other
The rate you see on Google, Reuters, or Bloomberg
The "real" exchange rate without any markup
Most money transfer services and banks add a markup to this rate (typically 0.5% to 6%). The difference between the mid-market rate and what you're offered is part of the provider's profit. PayinGlobal shows comparisons against the mid-market rate so you can see how much markup each provider adds.
