Why are the exchange rates at FOREX different from the ones you see online?
When you search for exchange rates online, such as when converting SEK to EUR via Google, you will often see the prevailing "market rate". However, this rate does not necessarily represent the price you pay when exchanging currency in a store, as at FOREX. In this article, we explain why there are differences between these courses and how our service adds value to our customers.
What is the market rate?
The market rate is the rate at which currencies are traded on the global foreign exchange market. This rate can be seen as a "raw" figure and does not include any costs or markups. In practice, the market rate is not available to private individuals in regular currency exchange because cash requires logistics, warehousing, personnel and security. Therefore, there is always a surcharge.
Why are FOREX rates different from the market rate?
When you exchange currency, you are effectively buying a physical product – banknotes in another currency. The rate you see on Google is a market rate, but when you buy cash, there are costs for handling, transportation, and warehousing. Therefore, the exchange rate is often different from the rate you see online. In addition, when you buy currency at FOREX, you are not only buying the currency, but also the service and security that comes with the transaction. Our course covers, among other things, the costs of:
- Operate physical stores around the Nordic region, near you.
- Have a wide range of currencies available.
- Hire knowledgeable staff who can provide reliable service and share their expertise both online and in-store.
- Ensuring that the entire experience is comfortable, smooth, safe and accessible.
Our commitment to you as a customer
FOREX strives to be a reliable and responsible partner in your forex transactions. We offer a comprehensive service that ensures that you can buy currency safely and easily, both in-store and online. Our prices reflect our commitment to maintaining the high quality and service that our customers expect and deserve.
Buying travel currency at FOREX
We at FOREX are here to help you with your forex needs and ensure that your experience is as smooth and beneficial as possible. By choosing FOREX, you get access to over 80 stores around the Nordic region, ATMs at airports, for example, reliable expertise and customer service.
We hope this information has given you a deeper understanding of why the prices you pay with us may be different from those you see online.
Thank you for choosing FOREX for your currency purchase!