Read our guide on what a send rate is and why it may change.
- What is the send rate?
- Where do I find the send rate?
- Why has it changed?
What is the send rate?
The send rate represents the rate of exchange you will receive when sending your money with Xe.
Where do I find the send rate?
On the Xe app
During the money transfer process, you'll find the send rate both at the start and at the end of your process.
The send rate may change between these two points, for the reasons listed below, but the initial quote you get (left) will act as an indicator.
The final quote you see, which is the rate you pay, will appear on the review transfer screen (right) just before you confirm the transaction.
If the send rate has changed between the two screens, you'll also see a message notifying you of the difference.
We recommend using the Xe app to transfer your money.
On the website
If you're using Xe on the web, you'll be guided through a similar experience as on the app.
Once logged in, you can start a new transfer by entering how much of your home currency you'd like to convert, and selecting the currency you want it changed into.
From here (see above), you'll get your quote - or exchange rate.
As you progress through the money transfer pages, you'll eventually end up at the confirm transfer page (right).
There, you'll once again be shown the final send rate, as well as a potential message to alert you if your send rate has changed since you started the process.
Why has it changed?
We work with a network of global partners to send your money quickly and securely, which also helps us to avoid charges where possible.
The route your money will take is determined by several factors and the information you provide us with, including the currency you’re sending and where you’re sending it to.
This means you may sometimes notice a change in your send rate as you progress through the money transfer process.
There are a few reasons why the send rate may change during the process of booking a transfer. We’ve outlined the most common reasons below.
We use the live mid-market rate
At Xe we pride ourselves on using the live mid-market rate.
The market rate for your transfer can change from the point you start your transfer to the point you confirm it.
Usually this takes no more than a couple of minutes and you’re not likely to see much change at all unless the market is very active. If it is very active, your send rate may increase or decrease.
Your transfer does not qualify for the original rate
We’ll always try and send your transfer at the best rate.
However, some of our partners are unable to accept certain types of transfers. These are usually payments to businesses and some reasons for transfer.
While these are the exception, when you add this information to your transfer the system will automatically re-price your transfer. In this case, your send rate is likely to decrease.
We always tell you when your send rate changes
When you are asked to confirm your transfer, we’ll always tell you if your send rate has increased or decreased during the process. Look out for the banner message at the top your screen.
Either way, you can rest assured that we’re always looking to send your transfer at the best rate and in the fastest time.