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What's a guaranteed rate?

A guaranteed rate is exactly what you’d expect - an exchange rate, which is guaranteed for a specified period of time.

We don’t offer this for all our currencies, but if you get a guaranteed rate you’ll see it in the first step when you create a transfer. This is then guaranteed as soon as you finish setting up your transfer. And as long as we receive your money within the specified period of time, then that’s the rate you’ll get.

If you don’t have a guaranteed rate, then you’ll see an estimated exchange rate. This means your payment will be converted with a floating rate, so we use the mid-market rate at the time we convert your money.

For more information on your specific guaranteed rate, choose any of the currency pages below.
It’s important to note, that we don’t apply a guaranteed rate to an unlimited number of transfers. Transfers shouldn’t be set up if you don't intend to send any money to complete them. 

If you create multiple transfers for the same amount, for example 1000€, and then send us a single amount of 1000€ - this will be assigned to the first transfer you created and you'll get the rate for that transfer (whether it's still guaranteed or not). 

We reserve the right to limit the number of guaranteed rate transfers on your profile if we notice misuse of this.

It's also good to know that if you remain in any step of the transfer set-up process for more than 30 mins, then the rate will refresh. So your guaranteed rate will have changed slightly, and you'll see the refreshed rate once you finish setting up the transfer.

Finally, when creating a guaranteed rate transfer, you’re subject to a rate limit of 5%. This means that if, in the time between transfer creation and TransferWise completing your transfer, the rate drops by 5% or more, then your transfer may be delayed.

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