EUR to GBP

Who sends euros to the UK

You might need to turn euros into pounds if life stretches between the UK and Europe. It could be a UK citizen in Spain paying a mortgage back home or a French couple sending money for school tuition in England. Some students from Italy need pounds for university fees or for deposits on a place to live in Manchester.

Businesses are just as active. Irish companies often buy from UK suppliers, and ever since the UK exited the European Union in January 2020, sending goods across the Channel or Irish Sea means dealing with customs forms. Invoices are still mostly in pounds, which means exchange rates matter each time you settle up. Northern Ireland stands out because people cross the border, shopping or working in both currencies. If you need to switch pounds back to euros, see GBP → EUR.

The euro, sterling and what moves them

The pound is overseen by the Bank of England, which reviews interest rates through its Monetary Policy Committee. Over in the eurozone, the European Central Bank manages the euro. These currencies aren’t linked directly, so what you see is the market’s reading of both economies and their future prospects. No central bank steps in to keep the rate fixed.

Expectations about inflation, interest rates, and even political events drive much of the change. When the UK voted on EU membership in 2016, sterling tumbled markedly, a sharp example of how political shifts leave their mark as much as new economic reports do.

As it stands, 1 euro now gives you 0.833920 pounds. That means 1,000 euros is equal to 833.92 GBP if you take the mid-market rate. The last twelve months saw the exchange rate move by -5.26%. Stretch that out to five years, and it’s changed by -1.40%. During the past year, it ranged from 0.833920 up to 0.884633. If you have a mortgage in the UK and your wages come in euros, that’s the kind of range you’re exposed to every month.

How the pounds arrive in the UK

You’ll usually send euros out with a SEPA transfer, and your chosen provider pays pounds into a UK account from their own local balance. Inside the UK, banks use the Faster Payments service, so most transfers land within minutes, but actual speed can depend on the recipient’s bank limits. You should use the six-digit sort code and the account number to direct the payment instead of an IBAN, although UK accounts technically have one.

Be attentive to recipient names. UK banks rely on Confirmation of Payee checks that compare names, and a small mismatch can put a hold on your transfer. Euro banks ask for the same, for more, see verification of payee. That matters if it’s your first time paying a landlord, school, or business; check the invoice carefully and copy details without changes. You can read more about speeds on the euro side in the SEPA instant transfers guide.

What it costs to convert euros to pounds

Banks, whether in the UK or eurozone, often quote an exchange rate below mid-market while advertising zero transfer fees. For a 1,000-euro payment, the cheapest provider on record right now is Wise, which would result in 829.83 GBP reaching the UK side. Compare that with the 833.92 GBP you’d expect if you converted at mid-market rates, that gap makes up your cost.

With Wise, you’d see a payout of 829.83 GBP from 1,000 euros, and the total cost (including margin) comes to 0.49%. Larger sums may shift the comparison because some firms charge flat fees, while others add a margin to the conversion rate. For example, on a 5,000-euro payment, OFX applies a fee of 0.00 EUR, bringing your all-in cost (exchange rate and fee together) to 0.70%. We always rank providers by what arrives, and the details are in our How we compare.

Property payments, deadlines and larger sums

Transfers between these currencies often feel most significant when property is involved. You might need to wire the deposit to a notary in Spain or send funds to secure a flat in London. In those cases, there’s a fixed day to meet, and even a minor delay or a failed transfer can outweigh any savings from a better rate. Give yourself some extra days and always confirm any cut-off time with the provider.

If you’re sending 10,000 euros, the lowest-cost provider in our tables right now is Wise. Always compare again for the real amount you’re moving. Larger payments may prompt extra checks, so have documents ready; our proof of source of funds article breaks down what questions you’ll likely face. If you’re exposed to shifts over several months and a weaker pound is a worry, you’ll find options for managing that explained in foreign exchange risk. Or if your target is a US account instead, take a look at EUR → USD.