The euro: Exchange Rates - From euro to sterling
We will not pass onto you any of our administrative costs for converting euro into sterling unless it is a euro payment drawn on an overseas bank account. We will not however meet the risk of any currency value fluctuations.
The rate of exchange between sterling and the euro can vary many times during the same day , as with any other currency. The exchange rate used is the one in force when your payment is presented by the clearing bank. If the rate used for converting euro into sterling leaves a shortfall, you may have to pay the difference. If you overpay, any repayment arising will be made to you in sterling.
Although you cannot totally eliminate the risk of shortfall or overpayment , you can minimise it by using CHAPS or BACS rather than cheque. Both of these methods reduce the time it takes for the payment to be cleared through the banking system.
The daily exchange rate offered by individual banks and other financial institutions will be advertised by them, and the official Bank of England Exchange Rate can be obtained from the Bank`s own website
Some exchange rates for earlier periods can also be found on this website
under rates and allowances. Select the
option "exchange rates" and enter the country as "European
Union".
This gives average exchange rates for both the calendar and financial
years, as well as spot rates for 31st March and 31st December.
The information may help you convert euro to sterling for the
purposes of completing your Tax Return or business accounts. It does not
however provide any other daily exchange rates.
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