Валютная наценка
FX Markup
A markup added to the base exchange rate by a provider or bank during currency conversion. The client gets a worse rate than the market rate, and the difference becomes the provider's revenue.
What is Валютная наценка (FX Markup)?
FX markup is a surcharge that a payment provider, bank, or exchange service adds to the base interbank (mid-market) rate when converting one currency into another. The difference between the market rate and the rate applied to the transaction is the provider's income from the conversion.
## How it works
A marked-up rate is approximately equal to the base rate multiplied by (1 ± markup). When buying currency, the client pays more; when selling, the client receives less. The markup can be set as a percentage, built into the spread between the buy and sell rates, or hidden in a displayed rate that does not explicitly state the base value.
## Where it appears
In cross-border transfers, multi-currency accounts, card transactions in foreign currency, payouts to affiliates and players in another currency, and in crypto exchangers and on-ramp services. In high-risk payments, the markup is often added on top of MDR and payout fees, so the total cost of accepting or withdrawing funds can differ noticeably from the advertised price.
## Impact and common mistakes
The markup directly reduces offer margin and net revenue, especially when working with low-liquidity currencies and volatile rates. A common mistake is comparing providers only by their percentage fee while ignoring the exchange rate difference, and failing to specify in the contract which rate the conversion is based on and how often it is updated.
FAQ
How does an FX markup differ from a fee?
A fee is a fixed or percentage charge explicitly listed in the tariffs. A markup is a deviation of the rate from the base rate, so it is often not visible on the receipt unless the provider discloses the base rate.
How can you check the size of the markup?
Compare the provider's rate with the interbank rate at the time of the transaction from a public source. The percentage difference is the markup you should factor into your calculations.
Can the FX markup be reduced?
Yes, through negotiations with the provider, converting in one go instead of several conversions, using multi-currency accounts, and choosing a route with a smaller spread. It is best to record all terms in the contract.