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How to set a Rate Limit

We use the real mid-market rate when we convert your funds - therefore, when you set the transfer up, the rate is not yet fixed unless otherwise explicitly stated (For example, if you are sending from a currency which has a guaranteed rate).

In order to protect your money from any possible downward rate fluctuation, we set an automatic 3% rate limit on all of your transfers (with the exception of guaranteed rate transfers, where we set a 5% limit). However, this tool allows you to let us know what’s the lowest rate you’re happy to convert with. In case you change your mind later, it can be modified at any time. 

It is only possible to choose a lower rate limit- if the rate improves we will always pass on the better rate! It is not possible to set a limit that's higher than the rate when your transfer was created, as TransferWise can not hold onto your money for an unspecified amount of time.

Before you set a rate limit on your payment, please also read this!

How to Apply the Rate-Limit

In order to apply the rate limit, your transfer has to be already set up. Simply open your transfer on web, and select 'set a rate limit'

A pop up will then appear where you can adjust your rate limit from 3% down to 2%, 1% or 0.5%

To complete this process you'll need to tick the box confirming you know what you are doing, and you'll also be shown the warning below.


Things to Bear in Mind

  • A rate limit cannot be applied when using the 'Send Money via Email' payment option.
  • You won't see the rate limit option straight away for any transfers with our guaranteed rate feature.
  • A rate limit can only be applied to a SOFORT payment once the money has cleared with TransferWise.
  • Rate limits cannot be applied to payments from USD and BRL, and payments to COP

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