Market exchange rate is basically the real exchange rate between two currencies. It’s what financial institutions, like your bank, use to trade with other financial institutions. Unfortunately, these rates are often only reserved for transfers dealing with a ton of money— more money than the average person would ever deal with. The consumer exchange rate is the rate you’re most likely used to dealing with. The consumer exchange rate is a combination of the market exchange rate plus whatever amount the financial institution (in most cases, your bank) charges in order to make a profit. It’s best practice to use the mid-market exchange rate as a benchmark when you’re looking for the best rates. The closer the exchange rate is to the market exchange rate, the better. Remitbee offers a competitive rate that is transparent and you always know up front how much you will get.
