The mid-market rate is a neutral benchmark—great for transparency, but not a promise of execution. Banks and card networks use their own methodologies to quote the rate applied to your transaction.

Why your bank rate differs

Spread: a small margin on top of wholesale pricing to cover liquidity and risk.
Network conversions: some cards convert via intermediate currencies, compounding effects.
Timing: the applied rate might be captured at authorization or settlement (often different).

Fee mechanics

Providers may charge:

Percentage fees (e.g., 1–3%) added on top of the conversion.
Flat fees for certain transfer types.
Embedded fees via a slightly worse rate (no explicit line item).

How to estimate the “all-in” number

Note the mid-market rate at the transaction time.
Check your provider’s published conversion policy and any extra fees.
Compute the difference to see the effective spread you paid.

This benchmark approach helps you compare providers fairly and choose the one that fits your priorities: lowest total cost, speed, or convenience.