Market rate, all-in rate, margin and amount received: what each figure on a quote means, and the one you should compare.
An exchange rate quote can look simple: one currency, another currency, a number in between. Reading it properly is what lets you compare providers and avoid surprises.
The market rate
This is the rate at which banks trade currencies with each other at a given moment. It moves continuously during market hours. Few businesses can trade at this exact rate.
The all-in rate
This is the rate actually applied to your payment, including the provider’s margin. At Volta, our remuneration is included in this rate, and there is no separate exchange fee.
The amount received
The most useful figure on a quote is the exact amount your beneficiary will receive. It reflects the rate and any fees, so it is the figure to compare from one provider to another for the same amount sent.
Guaranteed or indicative?
At Volta, the rate shown is guaranteed during market hours (business days, 9:00 to 18:00 London time). In the evening, overnight and at weekends it is indicative and is confirmed before you transfer. Once you confirm a quote, the rate is held for 24 hours while you add beneficiaries and documents.
A note on the CFA franc
The Central and West African CFA francs have a fixed parity with the euro. Payments in euros are therefore not exposed to the same currency movements as payments in US dollars, yuan or dirhams.