What's the cheapest way to pay a supplier in EUR from GBP?

Usually a local transfer into the supplier's EUR account over SEPA or SEPA Instant, from a balance you already hold in EUR or converted at a rate close to mid-market. A SWIFT wire adds a sending fee and possible deductions along the way, and the exchange rate margin often costs more than either: on £10,000, each 1% of margin is £100.

What exchange rate should I get from GBP to EUR?

Compare the rate you're offered with the mid-market rate at the same moment. The ECB's reference rate on 2 November 2026 was 1 GBP = 1.1965 EUR. The difference between the two is the provider's margin.

Do I need a EUR account to pay a supplier in EUR?

No, your provider can convert as part of the payment. But if you're also paid in EUR, holding it and paying from that balance avoids converting twice.

Paying a supplier in EUR from GBP: cost and time by route

Paying euros from pounds by SWIFT wire, by local transfer from a EUR balance, or by stablecoin: what each route costs, how long it takes, and today's reference rate.

Reference rate of 2 November 2026: 1 GBP = 1.1965 EUR

Today's rate

At the ECB's reference rate of 2 November 2026, £10,000 is €11,965. That's the benchmark: whatever route you use, the EUR that arrives is lower by the exchange rate margin and any fees. On £10,000, every 1% of margin costs £100, which is why the rate matters more than the transfer fee on most business payments. To see what a past payment lost, use the FX cost calculator.

Three routes compared

SWIFT wire in EUR. Your bank converts and sends it through the correspondent network. Published fees to send: £17 to send an international payment online (HSBC Bank plc, UK business accounts, February 2025). Under the SHA and BEN charge codes, intermediary banks can deduct their own fees on the way: Wise estimates 15 to 50 USD. The payee's bank may also charge to receive it, for example 2.39 EUR to receive a euro SWIFT payment (Wise Business, UK pricing, October 2026).
Local transfer in EUR. If you hold euros, or a provider converts and pays out locally, the money travels on SEPA or SEPA Instant, with no intermediaries to take a cut. The cost is the conversion, if there is one, and the provider's fee. This is how most payments to suppliers in the 41 SEPA countries arrive in full.
Stablecoins. Converting pounds into a stablecoin, sending it and converting it out at the other end. The network fee is small and doesn't depend on the amount: $0.0006 for USDC on Base and $2.16 for USDT on Tron on 2 November 2026. The conversions at each end are where the cost is, so compare the all-in figure. It works best when the supplier accepts the stablecoin itself.

How long it takes

Sent on Monday 2 November, before the cut-off, a SWIFT wire in EUR should be credited between Monday 2 November and Wednesday 4 November, and a standard local transfer should arrive by Tuesday 3 November. SEPA Instant arrives in under 10 seconds at any hour, and a standard SEPA transfer by the end of the next business day.

To check another day or rail, with holidays counted, use the payment arrival calculator. If a payment is already late, the payment troubleshooter says what to ask your bank for.

How this works with Align

Align gives companies named USD, EUR, GBP and AED account details in their own name. Pounds you receive are held as USDC, and you can pay a supplier in EUR over SEPA or SEPA Instant, converted as part of the payment, with the rate and fee shown before you confirm. Align's pricing is quoted on request: contact us. See EUR IBANs for companies outside the EU.

Common questions

What's the cheapest way to pay a supplier in EUR from GBP?: Usually a local transfer into the supplier's EUR account over SEPA or SEPA Instant, from a balance you already hold in EUR or converted at a rate close to mid-market. A SWIFT wire adds a sending fee and possible deductions along the way, and the exchange rate margin often costs more than either: on £10,000, each 1% of margin is £100.
How long does a GBP to EUR payment take?: A SWIFT wire usually takes from the same day to two business days to be credited. A local transfer in EUR is faster: SEPA Instant arrives in under 10 seconds at any hour, and a standard SEPA transfer by the end of the next business day. A stablecoin transfer is final in seconds to minutes, but a payout to a bank then waits for the bank's rail.
What exchange rate should I get from GBP to EUR?: Compare the rate you're offered with the mid-market rate at the same moment. The ECB's reference rate on 2 November 2026 was 1 GBP = 1.1965 EUR. The difference between the two is the provider's margin.
Do I need a EUR account to pay a supplier in EUR?: No, your provider can convert as part of the payment. But if you're also paid in EUR, holding it and paying from that balance avoids converting twice.

Sources

European Central Bank, Euro foreign exchange reference rates (2 November 2026)
Align, Stablecoin fee tracker (measured 2 November 2026)
Align, Wire fees explained: OUR, SHA and BEN (published fee examples and their dates)
Wise, What are Swift correspondent fees?

General information, not a quote. Rates and fees change; published fees are quoted with the date they were read, and providers' own prices apply.

Get started

Open a business account built on stablecoins.

Named USD, EUR, GBP and AED accounts in your company's name, with USDC and USDT in and out. Apply online; our compliance team reviews applications in 1 to 5 business days.

Open an account Talk to sales