There are a few reasons why a send rate may change during the process of booking a transfer. We’ve outlined the most common reasons below.
In this article, we’ll cover:
- What factors affect my send rate?
- We use live rates
- Your transfer no longer qualifies for the original rate
- How will I know if my rate has changed?
What factors affect my send rate?
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 as well as where and how you’re sending it.
This means you may sometimes notice a change in the send rate as you progress through the money transfer process.
We use live rates
At Xe we pride ourselves on using live rates.
The rate you'll receive 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 the market is very active, your send rate may increase or decrease.
Please note: money transfers sent with our cash pickup service are subject to different send rates. This is because it's a separate service and our rates are sourced differently.
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 specific reasons for transfers.
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 changed 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 in the fastest time possible at the best rate.