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It kicks in automatically on eligible spend, with no minimum threshold to hit first. Over time, it quietly turns routine business spend into working capital.",[1748],{"_key":1741,"_type":881,"externalUrl":1749,"linkType":359},"https:\u002F\u002Faspireapp.com\u002Fhk\u002Fcashback",{"_key":1751,"_type":856,"children":1752,"markDefs":1774,"style":885},"k346",[1753,1757,1761,1765,1770],{"_key":1754,"_type":860,"marks":1755,"text":1756},"k341",[],"🌐 ",{"_key":1758,"_type":860,"marks":1759,"text":1760},"k342",[971],"Local transfer network",{"_key":1762,"_type":860,"marks":1763,"text":1764},"k343",[],", not multi-hop ",{"_key":1766,"_type":860,"marks":1767,"text":1769},"k344",[1768],"k338","SWIFT",{"_key":1771,"_type":860,"marks":1772,"text":1773},"k345",[]," chains, is how Aspire routes most payments. This means faster settlement and fewer intermediary fees eating into your payment before it reaches the recipient. 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You can also download payment confirmation instantly from the app, without calling the bank.",[1802],{"_key":1795,"_type":881,"externalUrl":1803,"linkType":359},"https:\u002F\u002Faspireapp.com\u002Fhk\u002Fblog\u002Fswift-gpi",{"_key":1805,"_type":856,"children":1806,"markDefs":1819,"style":885},"k365",[1807,1811,1815],{"_key":1808,"_type":860,"marks":1809,"text":1810},"k362",[],"⚡ ",{"_key":1812,"_type":860,"marks":1813,"text":1814},"k363",[971],"Approved in as little as 1 business day",{"_key":1816,"_type":860,"marks":1817,"text":1818},"k364",[],", with no branch visits and no paperwork stacks. Applications are completed entirely online, from document upload to approval. There's no waiting weeks on a relationship manager to call you back.",[],{"_key":1821,"_type":856,"children":1822,"markDefs":1845,"style":885},"k378",[1823,1827,1832,1836,1841],{"_key":1824,"_type":860,"marks":1825,"text":1826},"k373",[971],"Open a free ",{"_key":1828,"_type":860,"marks":1829,"text":1831},"k374",[1830,971],"k367","multi-currency business account",{"_key":1833,"_type":860,"marks":1834,"text":1835},"k375",[971]," built for Hong Kong SMEs, or explore how ",{"_key":1837,"_type":860,"marks":1838,"text":1840},"k376",[1839,971],"k370","Aspire's corporate card",{"_key":1842,"_type":860,"marks":1843,"text":1844},"k377",[971]," fits into your day-to-day spend.",[1846,1847],{"_key":1830,"_type":881,"externalUrl":1720,"linkType":359},{"_key":1839,"_type":881,"externalUrl":1848,"linkType":359},"https:\u002F\u002Faspireapp.com\u002Fhk\u002Fcorporate-card",{"_key":1850,"_type":856,"children":1851,"markDefs":1855,"style":964},"k381",[1852],{"_key":1853,"_type":860,"marks":1854,"text":14},"k380",[],[],{"_key":1857,"_type":856,"children":1858,"markDefs":1863,"style":998},"k384",[1859],{"_key":1860,"_type":860,"marks":1861,"text":1862},"k383",[],"What is the interbank rate in simple terms?",[],{"_key":1865,"_type":856,"children":1866,"markDefs":1871,"style":885},"k387",[1867],{"_key":1868,"_type":860,"marks":1869,"text":1870},"k386",[],"The interbank rate is the exchange rate banks use when trading currencies directly with each other, reflecting the real market value of 1 currency against another before any retail markup is applied.",[],{"_key":1873,"_type":856,"children":1874,"markDefs":1879,"style":998},"k390",[1875],{"_key":1876,"_type":860,"marks":1877,"text":1878},"k389",[],"Is the interbank rate the same as HIBOR?",[],{"_key":1881,"_type":856,"children":1882,"markDefs":1887,"style":885},"k393",[1883],{"_key":1884,"_type":860,"marks":1885,"text":1886},"k392",[],"No. The interbank rate covered here relates to currency conversion, while HIBOR is the rate Hong Kong banks charge each other for short-term HKD loans, used as a benchmark for mortgages and business lending.",[],{"_key":1889,"_type":856,"children":1890,"markDefs":1895,"style":998},"k396",[1891],{"_key":1892,"_type":860,"marks":1893,"text":1894},"k395",[],"Can a business get the actual interbank rate?",[],{"_key":1897,"_type":856,"children":1898,"markDefs":1903,"style":885},"k399",[1899],{"_key":1900,"_type":860,"marks":1901,"text":1902},"k398",[],"Not typically. The interbank rate is reserved for large financial institutions trading significant volumes, though businesses can get meaningfully closer to it by choosing providers with transparent, low FX spreads.",[],{"_key":1905,"_type":856,"children":1906,"markDefs":1911,"style":998},"k402",[1907],{"_key":1908,"_type":860,"marks":1909,"text":1910},"k401",[],"Why does my bank's exchange rate differ from the interbank rate I see online?",[],{"_key":1913,"_type":856,"children":1914,"markDefs":1919,"style":885},"k405",[1915],{"_key":1916,"_type":860,"marks":1917,"text":1918},"k404",[],"Banks and currency providers add a markup on top of the interbank rate before quoting it to customers, which is usually built into the exchange rate itself rather than shown as a separate fee.",[],{"_key":1921,"_type":856,"children":1922,"markDefs":1927,"style":998},"k408",[1923],{"_key":1924,"_type":860,"marks":1925,"text":1926},"k407",[],"How can I check if I'm getting a fair exchange rate?",[],{"_key":1929,"_type":856,"children":1930,"markDefs":1935,"style":885},"k411",[1931],{"_key":1932,"_type":860,"marks":1933,"text":1934},"k410",[],"Compare the rate you're quoted against the current mid-market interbank rate, available through financial data sites, for the same currency pair and date, then calculate the percentage difference.",[],{"_key":1937,"_type":856,"children":1938,"markDefs":1943,"style":998},"k414",[1939],{"_key":1940,"_type":860,"marks":1941,"text":1942},"k413",[],"Does the interbank rate change throughout the day?",[],{"_key":1945,"_type":856,"children":1946,"markDefs":1951,"style":885},"k417",[1947],{"_key":1948,"_type":860,"marks":1949,"text":1950},"k416",[],"Yes. It fluctuates continuously based on supply and demand, central bank policy, and market conditions, which is why exchange rates quoted at different times of day can vary even for the same currency pair.",[],{"slug":1953,"title":1954},"payments","Payments",{"_type":144,"alternativeText":1956,"height":145,"url":1957,"width":147},"What Is the Interbank Rate? FX vs HIBOR & Markups","https:\u002F\u002Fcdn.aspireapp.com\u002Fwebsites\u002Fblog\u002Fa0fdbf21ea46c1111382c5249a7f74f8\u002Fshared_cover_shared-cover-inter-bank-rate.webp",[1959,1971,1982,1992,2002],{"_key":1960,"_type":856,"children":1961,"level":1098,"listItem":1969,"markDefs":1970,"style":885},"k4",[1962,1965],{"_key":957,"_type":860,"marks":1963,"text":1964},[971],"Core Definition:",{"_key":1966,"_type":860,"marks":1967,"text":1968},"k3",[]," The interbank rate (also known as the mid-market or spot rate) is the real, wholesale currency exchange rate that major financial institutions use to trade with one another.","bullet",[],{"_key":1972,"_type":856,"children":1973,"level":1098,"listItem":1969,"markDefs":1981,"style":885},"k9",[1974,1977],{"_key":966,"_type":860,"marks":1975,"text":1976},[971],"Interbank Rate vs. HIBOR:",{"_key":1978,"_type":860,"marks":1979,"text":1980},"k8",[]," The FX interbank rate governs currency conversion; HIBOR (Hong Kong Interbank Offered Rate) governs short-term HKD bank lending and serves as a benchmark for local loans and mortgages.",[],{"_key":994,"_type":856,"children":1983,"level":1098,"listItem":1969,"markDefs":1991,"style":885},[1984,1987],{"_key":979,"_type":860,"marks":1985,"text":1986},[971],"Calculation:",{"_key":1988,"_type":860,"marks":1989,"text":1990},"k13",[]," It is calculated continuously as the exact midpoint between the highest price buyers will pay (bid) and the lowest price sellers will accept (ask).",[],{"_key":1007,"_type":856,"children":1993,"level":1098,"listItem":1969,"markDefs":2001,"style":885},[1994,1998],{"_key":1995,"_type":860,"marks":1996,"text":1997},"k17",[971],"Retail Markups:",{"_key":1003,"_type":860,"marks":1999,"text":2000},[]," Businesses rarely receive the exact interbank rate. Banks and exchange providers add a spread or markup directly into the quoted rate, often creating hidden conversion costs.",[],{"_key":2003,"_type":856,"children":2004,"level":1098,"listItem":1969,"markDefs":2011,"style":885},"k24",[2005,2008],{"_key":1015,"_type":860,"marks":2006,"text":2007},[971],"Best Practices:",{"_key":1012,"_type":860,"marks":2009,"text":2010},[]," To reduce foreign exchange costs, calculate your provider's markup percentage against the mid-market rate, avoid relying solely on \"zero-fee\" claims, and use multi-currency accounts or low-spread platforms.",[],[2013,2019,2028],{"_key":957,"_type":856,"children":2014,"markDefs":2018,"style":885},[2015],{"_key":960,"_type":860,"marks":2016,"text":2017},[],"Every time you convert currency, there's a \"real\" exchange rate happening behind the scenes — and it's very likely not the one you're actually getting.",[],{"_key":966,"_type":856,"children":2020,"markDefs":2027,"style":885},[2021,2024],{"_key":969,"_type":860,"marks":2022,"text":2023},[971],"That real rate is the interbank rate",{"_key":974,"_type":860,"marks":2025,"text":2026},[],", and understanding it is one of the fastest ways to spot whether your bank or payment provider is quietly charging you more than they're letting on.",[],{"_key":982,"_type":856,"children":2029,"markDefs":2033,"style":885},[2030],{"_key":1972,"_type":860,"marks":2031,"text":2032},[],"This guide breaks down what the interbank rate actually is, how it's different from Hong Kong's HIBOR (a term it often gets confused with), and how to use it to check whether you're getting a fair deal on your business's international payments.",[],"2026-08-07T00:00:00.000Z",{"_type":139,"metaDescription":2036,"metaTitle":1956,"socialShareImageUrl":2037},"Learn what the FX interbank rate is, how it differs from HIBOR, how markups drive up currency conversion costs, and how to get better rates.",{"_type":144,"alternativeText":1956,"height":145,"url":1957,"width":147},"what-is-interbank-rate",[2040,2046,2052],{"_key":957,"_type":856,"children":2041,"level":1098,"listItem":1969,"markDefs":2045,"style":885},[2042],{"_key":960,"_type":860,"marks":2043,"text":2044},[],"Hong Kong Monetary Authority. \"Hong Kong Interbank Offered Rate (HIBOR).\" hkma.gov.hk",[],{"_key":969,"_type":856,"children":2047,"level":1098,"listItem":1969,"markDefs":2051,"style":885},[2048],{"_key":1960,"_type":860,"marks":2049,"text":2050},[],"Bank for International Settlements. \"Triennial Central Bank Survey of Foreign Exchange.\" bis.org",[],{"_key":1978,"_type":856,"children":2053,"level":1098,"listItem":1969,"markDefs":2057,"style":885},[2054],{"_key":966,"_type":860,"marks":2055,"text":2056},[],"Hong Kong Association of Banks. \"HIBOR Fixing.\" hkab.org.hk",[],1791455354679]