Currency exchange
The rate, the margin and the fee, as three numbers on one line.
Convert between pounds, euros, dollars, yuan and złoty at a published margin over mid-market, with the saving against your bank on every quote.
From 0.22% over mid-market
A margin you can read
0.55% on Starter, 0.35% on Trade, 0.22% on Volume. Printed on the quote, never folded into the rate.
Hold five currencies
Keep euros from a customer to pay a euro supplier later, and skip the conversion altogether.
Fix next quarter’s rate
On Volume, lock today’s rate for a payment up to 12 months ahead with a forward contract.
A high-street bank rarely charges a fee for currency exchange. It does not need to. It takes its money in the rate, typically around 2.9% away from the mid-market rate, and the only way to see it is to look up the mid-market rate yourself and do the sum.
On a €50,000 invoice that is roughly £1,100 you never see on a statement.
How a Kelvern quote is built
We start from the mid-market rate, the midpoint between what the big banks buy and sell a currency for. We subtract our margin, which depends on your plan and is the same for every currency pair. We add the rail fee. All three numbers appear on the quote, next to what the same payment would cost through a typical bank.
The rate holds for 30 seconds while you decide. Approve inside that window and it is the rate you get.
Paying in the supplier’s own currency
Factories in China, Vietnam and Turkey often invoice in US dollars by default. Paying them in yuan or their own currency can take a point or more off the price, because they no longer carry the dollar risk. Kelvern lets you hold and pay in yuan and złoty as easily as in euros.
Balances you already have
If you sell into Europe as well as buying from it, keep your customers’ euros in a euro balance and pay suppliers from it directly. Converting twice costs twice.
Works well alongside
Supplier payments
From £0.30 per payment
Single or batch payments to suppliers in the UK, the euro area and 60 other countries, each with its settlement date on the quote.
See how it works
Approvals
Included on Trade and Volume
Rules by amount, supplier, currency and new bank details, with a second approver on their phone in one tap.
See how it works
Accounting sync
Included on Trade and Volume
Two-way sync with the three most common cloud ledgers, plus CSV for everything else. Payments reconcile themselves.
See how it worksSend your first payment this week.
Open an account in about ten minutes. Most are verified within one working day.
Or call the payments desk on 0113 496 0128, Mon–Fri, 07:30–18:00 UK time.