[lordnacho]

I used to trade FX in my hedge fund, where of course we got interbank rates. The spread would have 5 decimal places for something like EURUSD, so 1.12345 bid, 1.12346 offered, based on mixed prices from different brokers.

I was astonished when I tried to change some money in the retail market and instead of the 5th decimal digit being different, it would be the 2nd.

Luckily these days there's several services that will give you something near the same spread, close enough to not care to search for improvements. Revolut does something like that, as does TW. I'm sure some of the other challenger banks are doing this as well.

Another big bonus is they don't force you to change your money. This is a big deal if you have an old bank like Barclays that will see your incoming USD and change it to GBP, losing you several percent in the process. If you have Revolut or TW you can actually just keep your USD, chances are there's something you pay for in dollars.