What's a guaranteed rate?

What's a guaranteed rate?

A guaranteed rate is exactly what you’d expect: an exchange rate that's guaranteed for a specified period of time. We offer guaranteed rates for all of our transfers. But keep in mind that we might need to verify your address first, like when sending JPY.

As you finish setting up a transfer, we'll lock your rate for a certain period of time. And as long as we receive your money within that period, you’ll get that rate. If your money doesn't reach us in time, we'll still convert and send it as soon as possible. But we'll use the mid-market rate instead.

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How long is the rate guaranteed on my transfer?

We guarantee your rate for 24 hours for every currency except: AUD, BGN, BRL, CAD, CHF, EUR, HKD, HRK, JPY, RON, and SGD, where the rate is guaranteed for 48 hours.

A few exceptions:

  • from CHF to EUR: 24 hours
  • from CZK to INR: 48 hours
  • from DKK to INR: 48 hours
  • from HUF to INR: 48 hours
  • from NOK to INR: 48 hours
  • from NZD to AUD: 48 hours
  • from NZD to BRL: 48 hours
  • from NZD to CHF: 48 hours
  • from NZD to EUR: 48 hours
  • from NZD to GBP: 48 hours
  • from NZD to HRK: 48 hours
  • from NZD to INR: 48 hours
  • from NZD to JPY: 48 hours
  • from NZD to USD: 48 hours
  • from PLN to INR: 48 hours
  • from SEK to INR: 48 hours

And if you're adding money to any of the currencies in your borderless account, the guaranteed rate lasts for 6 hours only.

What if my transfer falls on a weekend?

Banks don't process transfers over the weekend — they start paying them out on the following Monday. Because of this, we don't count the weekend when we calculate guaranteed rates.

For example, if you start a EUR to GBP transfer (48 hour rate lock) on Friday, at 5:00 pm, your rate will be fixed until Tuesday at 5:00 pm. 

How many transfers can I set up with a guaranteed rate?

You can't set up an unlimited number of transfers with a guaranteed rate. And you should only set up a transfer if you intend to complete it. We'll limit the number of guaranteed rate transfers you can make if we notice you're setting up multiple identical ones to get the best rate.

If you create multiple transfers for the same amount but only paid for one of them, we'll assign your deposit to the first transfer you created. You can cancel any transfer you don't intend to complete and leave just one active, so we know where to assign your money to.

Keep in mind that if you remain at one step of the transfer setup process for more than 30 minutes, the guaranteed rate will refresh.

What if the rate drops significantly?

When you create a transfer with a guaranteed rate, you’re subject to a rate limit of 5%. So if the rate drops by 5% or more before we receive your money, we reserve the right to cancel and refund your transfer. If that happens, we'll send the money back to the account it came from. 

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