Compare the same transaction on every quote. Record the currency, amount, payment method, final total, and validity. A lower rate alone does not prove that a purchase costs less.
Define the transaction first
Before you request quotes, write what the business needs to pay or receive. Include the exact foreign amount, original currency, intended payment date, and payment method. Buying EUR for a supplier differs from selling received EUR for TRY. Cash and bank-transfer quotes can also have different conditions.
Use the same specification for each provider. If one offer applies to cash today and another applies to a transfer later, they do not describe the same transaction. Ask the provider to confirm the missing conditions before you compare totals.
Keep a short quote record
Record the provider name, contact method, quote time, validity period, rate, separate charges, and final amount. Keep the original quote with the calculation. A rate copied from a website is comparison information. It does not itself confirm an offer for your amount.
Use a clear status for requested, received, expired, and accepted quotes. Do not label an offer as accepted unless your business completed its own approval process. The app does not accept offers, reserve currency, or execute payments on your behalf.
Compare an identical purchase
The following figures are invented examples, not current rates or provider offers. A business wants to buy exactly 500 EUR with TRY. Each fee is a separate, fixed TRY charge.
| Quote | EUR sell rate | Separate fee | Total TRY |
|---|---|---|---|
| A | 50.00 | 150 | 25,150 |
| B | 50.10 | 0 | 25,050 |
Quote B requires 100 TRY less for this example. Quote A has the lower displayed rate but a higher final payment. At another amount, the comparison can change. Read the fees guide for the formulas and fee bases.
Separate a reference from an executable quote
The ECB reference-rate page describes its rates as information and discourages transaction use. A reference can help explain a calculation. It does not replace a provider's confirmed transaction price.
Read reference and transaction rates before you use different sources in the same worksheet. Label the source and time on each rate. Do not compare a current quote with an old reference without making the difference clear.
Confirm the full conditions
Ask the provider whether the amount is available, when the quote expires, and what payment or collection conditions apply. Confirm whether receiving charges are included. Ask who bears any charge that the quote leaves unspecified. A statement such as “no commission” still needs a final amount.
Use the converter for basic arithmetic. It cannot determine your provider's settlement conditions. Keep your internal approval and accounting records in the business's own systems. Do not place private invoices or account details in a public enquiry.
Sources and limits
The quote table and calculations are original examples. Your supplier invoice and written provider offers supply the real transaction terms. The about page explains the app's data limits. This article describes a comparison method; it does not determine accounting, tax, or contract treatment.
This content gives general information. Confirm the transaction rate, fees and cash availability with the office.
