Currency markets are always moving. Set an alert so you never miss your desired rate.
In this article, we’ll cover:
- How can Xe Rate Alerts help me?
- Why we use mid-market rates for Xe Rate Alerts
- How do I set up Xe Rate Alerts?
- What's the difference between a market order and a Rate Alert?
How can Xe Rate Alerts help me?
Xe Rate Alerts can tell you when the market’s in your favour to help you transfer between two of your chosen currencies (a currency pair) at your ideal rate.
Set your desired rates for your currency pairs. Once your pair hits its desired rate, we’ll let you know by email or via push notifications in the app.
From there, it’s up to you. If you want to make a transfer, that’s the ideal time.
If you don’t need to transfer now, just sit tight. Keep your rate alert set up and there’ll be more to come.
Xe Rate Alerts use mid-market rates
The mid-market rate is the halfway point between demand and supply for a particular currency, which means it could and does change all the time.
Our free information services always list the mid-market rate because it indicates the value of a currency that’s not weighted towards buying or selling.
There is no obligation to send money with Xe Rate Alerts. If you wish to send money when your chosen rate is achieved, you'll need to create a market order.
How do I set up Xe Rate Alerts?
You can set up a Rate Alert in the app and get push notifications when your rate's triggered, or on the Xe website.
To set up a Rate Alert in the app:
- Sign in to your account in the app
- Click Rate Alerts in the bottom right-hand corner of the screen
- If it's your first time setting-up an alert, click Create Alert
- If you have an alert set-up already, click the ➕ icon in the top right-hand corner of the screen
- Choose two currencies (your currency pair)
- Set your desired rate by move the 'Desired rate' line in the chart on screen or by typing the rate in the Equals field
- Click Create Alert
- The Rate alerts screen shows the alert you've set-up
- If you've enabled push notifications for rate alerts, you'll get a message on your device and email when the rate's triggered.
Click the ➕ button to add a new rate alert for a different currency pair.
To set up a rate alert on the website:
- On the Xe website choose the Alerts tab
- Click the Get Rate Alerts button
- Sign in to your Xe account
- Click the Create Alert button
- Choose two currencies (your currency pair)
- Set the rate you'd like. You can do this by moving the Alert line on the graph, or by typing the rate in the Equals field.
- Add a nickname for your alert so that you can remember it easily
- Click the Create Alert button
- We'll email when your Rate Alert is triggered
| We recommend using the Xe app. We support push notifications for Rate Alerts which means that you'll receive a message as soon as your desired rate's achieved. |
What's the difference between a market order and a Rate Alert?
Market orders and rate alerts help you to maximise the value of your future money transfers.
Xe Rate Alerts:
When your rate alert's triggered, it means that it could be a good time for you to send money.
Rate alerts use the mid-market rate. The mid-market rate is for information only (we also use it for our currency conversion tool). You won't receive the mid-market rate when you send money.
If you regularly make international money transfers, you might find rate alerts helpful; by getting a message when your rate alert's triggered, you can check the current send rate and decide if now's a good time to send money.
Market orders:
When you place a market order you're booking a future transfer.
You enter your currency pair, the amount you want to transfer and your desired rate. When the send rate reaches your desired rate, we purchase your currency.
When you create a market order, you enter into a legally-binding agreement with us. We send the money as soon as we've received payment from you.
Need to create a market order and want to make sure you get the best rate possible? Xe can help! Sign up or sign in to learn more about our money transfer product and to set-up a market order.