Finance FAQs Tips

Interbank exchange rates in France: how to save on your international transactions?

Soufiane Baba

23.09.25

Read time 3 minutes

The interbank exchange rate can seem like a mystery: everyone talks about it, but very few customers actually benefit from it… except the banks. Individual customers in France usually get a rate with a markup instead.

The good news is that there are international payment platforms like Wise that allow you to send money abroad at the mid-market exchange rate, without hidden markups. How does it work? And how much could you save compared to a traditional French bank?

Discover the Wise account

All about the interbank exchange rate

What is the "interbank exchange rate"?

The interbank exchange rate is the exchange value of a currency when two banks trade with each other. It is sometimes referred to as the “market rate.” This rate is never fixed and varies constantly.

While your French bank may use this rate when buying or selling currencies, customers almost never get access to it. Instead, the bank adds a margin to the rate before passing it on to you, making your transfer more expensive.

What is interchange?

Interchange is a fee paid by a merchant’s bank to your bank when you make a card purchase.

During a card transaction, four parties are involved: you, your bank, the merchant, and the merchant’s bank. When you pay, your bank advances the amount to the merchant’s bank, which then reimburses you.

Your bank usually faces higher costs (insurance, fraud protection, etc.) compared to the merchant’s bank, which mainly manages the payment terminal. To compensate, the merchant’s bank pays a fee to yours. This is what’s called interchange.

When is the interbank exchange rate not applied?

The interbank rate is almost never applied in customer-initiated transactions when using traditional banks in France.

Examples include:

Withdrawals abroad
Card payments in foreign currencies
Transfers outside the SEPA zone
Online purchases of foreign currencies

Alternatives for paying internationally

Some providers like Wise allow you to make international transactions using the mid-market exchange rate.

When you transfer money with Wise, you don’t pay the markup most banks add. Plus, Wise locks the rate for a few hours, protecting you if the currency suddenly fluctuates before the transfer is completed.

Use the calculator below to estimate your transfer instantly:

How do I use a Wise multi-currency account from France?

Managing a multi-currency account is entirely online, available 24/7 via the Wise website or mobile app—no need to depend on bank branch schedules or advisors.

Opening an account is simple:

Go to the Wise website or app.
Register with your email address and password.
Enter your personal details and verify your profile if required.
Add money to your account.

Once your account is set up, you can request the multi-currency card. This card lets you pay and withdraw abroad at the mid-market rate in 40+ currencies.

Why use Wise in France?

The main advantage of Wise compared to traditional French banks is that you benefit from the mid-market rate on all your transactions: transfers, payments, and withdrawals.

You can also hold multiple currencies, something very few French banks offer to individuals. With Wise, you can manage 40+ currencies in one account.

If you already hold a currency in your account, spending in that currency comes with minimal fees.

Another key benefit: you can receive payments in euros, US dollars, Australian and New Zealand dollars, and British pounds free of charge. Traditional banks in France often charge fees for incoming international transfers, sometimes even applying a hidden exchange rate markup.

How does the Wise Multi-Currency Account work?

With the Wise Multi-Currency Account, you can hold 40+ currencies.

Need to convert euros into pounds sterling? Wise converts at the mid-market rate and applies a small fee (usually under 1% for major currencies).

You also get account details in 8+ currencies, which allows you to receive funds locally without fees.

With the Wise debit card, you can withdraw and pay in foreign currencies at the mid-market rate. If you already hold that currency in your account and no conversion is required, payments are free.

What are the account fees?

At Wise, the pricing structure is transparent and easy to understand. Opening an account is free, with no monthly or annual maintenance fees. You only pay per use.

No more hidden fees or inflated exchange rates. With Wise, you can send money internationally at the mid-market exchange rate with clear, low fees. With the Wise card, you get the same mid-market rate on all your foreign currency withdrawals and payments. For rare currencies, Wise could use the Mastercard exchange rate.

Open your Wise account

This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.