If you’re heading abroad, one of the first things on your to-do list is probably sorting out your travel money. And if you’ve checked out M&S exchange rates, you might be wondering—is it a good deal or not?The short answer? It’s probably not as good as you think. But don’t worry, we’ll break it all down for you in super simple terms, and show you a smarter way to get the best exchange rate without the hassle of topping up pre-paid travel cards, opening new bank accounts or sifting through Google for hours on end.
What is the M&S Exchange Rate?
Okay, let’s start with the basics. The exchange rate is just the price of swapping one currency for another. So if you’re exchanging British pounds (£) for euros (€), the exchange rate tells you how many euros you’ll get for every pound you spend. But here’s the catch: not all exchange rates are created equal. The best rate out there is called the interbank exchange rate, or the mid-market rate. This is the real exchange rate that banks use when they trade money between themselves. It’s the fairest and most accurate rate. This is not the M&S exchange rate. Because Marks and Spencers add a markup, which is usually hidden in the small print. This is not exclusive to M&S. Most banks and credit card companies do the same thing.
The Hidden Fees You Don’t See
Now, here’s where things get a little sneaky. Most places don’t give you the interbank rate. Instead, they add a little extra fee—called a markup—to make a profit. This means you get less foreign currency for your pounds than you should.
M&S, like many other high-street banks and travel money providers, adds a markup to their exchange rates. So even though they might advertise "commission-free" currency exchange, you're still paying more than necessary because of this hidden fee.
Let’s say the real exchange rate is 1.17 GBP to EUR. But if M&S offers you 1.13 GBP to EUR, that difference adds up fast! Over a whole trip, you could end up losing tens or even hundreds of pounds in hidden charges.
The Mastercard Exchange Rate Vs The M&S exchange rate
Some modern banks, like Monzo and Starling, offer a much better deal. Instead of adding sneaky markups, they use the Mastercard exchange rate—which is usually very close to the interbank rate. This means you get a fairer deal without any hidden fees.
Sounds great, right? But if you don’t want the hassle of opening a new bank account just for travel, there’s an even easier way to get the best exchange rate—without changing banks.
Meet Curve – Your Secret Weapon for the Best Exchange Rate ✨
Curve is a digital wallet that connects to your existing debit and credit cards. And the best part? It always gives you the Mastercard exchange rate without markups. So, no matter which bank you use, you’ll always get the best possible deal on your travel spending.
How Does Curve Work?
✅ Link all your cards to the Curve app – no need to switch banks!
✅ Pay abroad with Curve and get the best exchange rate automatically.
✅ No hidden fees – unlike M&S and other high-street providers.
Extra Travel Perks With Curve 🌍
Curve isn’t just about great exchange rates. It also makes travel spending way easier:
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0% foreign transaction fees – No extra charges when spending abroad.
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Go Back in Time® – Paid with the wrong card? Move the payment to another one, up to 30 days later!
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Cashback on spending – Earn rewards on everyday purchases.
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One card to rule them all – Leave your wallet at home and just take Curve.
How to Beat the M&S Exchange Rate (Without the Hassle!) 🏆
Want to make sure you never lose money on a bad exchange rate again? Here’s your simple action plan:
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Sign up for Curve (It’s free and easy to set up!).
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Link your current debit and credit cards in the app.
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Use Curve when you travel – and enjoy the best exchange rate, every single time.
So, Is the M&S Exchange Rate Good or Bad? 🤷♂️
Honestly? It’s not great. Like most high-street providers, M&S adds a markup, which means you get less foreign currency for your pounds. Instead, if you use Curve, you’ll always get the fairest, most transparent exchange rate with zero hassle.
So, before you exchange money at M&S, consider a smarter way to spend abroad. With Curve, you get the best rate wherever you go, no matter which card you use—saving you money every single time you pay.
