When you’re sending large amounts abroad, even small changes in the exchange rate can make a difference to how much you get on the other side.
So for transfers above 20,000 GBP (or the equivalent in your currency), you can choose between 2 options: send money now with the current exchange rate, or watch the rate and send when it’s right for you.
This is how both options work.
This is the best option when you need to send money quickly, and you want to get the current exchange rate. To send money now:
Once we receive your money, you may need to send us documents that show where it came from, or what it’s for. We’ll pause your transfer until we get this information. As soon as we’ve finished our checks and can start processing your transfer, we’ll let you know.
You can track your transfer in the activity section of your account.
This is the best option if you’re not in a rush and want to see how the rate changes over time.
If you choose this option, you’ll add the money for your transfer to your balance now and get verified. Then you can watch the live rate for as long as you like. Once you’re happy with the rate, simply lock it and start your transfer.
All that’s left for you to do is review and send when the rate suits you.
To Lock in the rate later:
Once we receive your money, you’ll see it in your balance.
We’ll then show you how the rate has changed over time. At that point, you can make the transfer at the current rate or keep waiting.
When you’re ready to send the money, click lock the rate and send. We’ll convert the money using the rate you’ve locked, and send it from your balance to your recipient.
Just remember to make sure you're happy with the rate before you lock it. Once it's locked, we'll automatically convert your money. This means you won't be able to change the rate or cancel your transfer.