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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.
 

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. 

However, things are a bit different when it comes to sending GBP. Because most banks process transfers on the weekend in the UK, we're able to do so on the weekend, too. So, if you start transfer from GBP to EUR (24 hour rate lock) on Friday, at 5:00 PM, your rate will be fixed until Saturday at 5:00 PM.
 

How many transfers I can 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, and then complete only one of them, we'll assign the guaranteed rate to the first transfer you created. 

Keep in mind that if you remain at one step of the transfer set-up process for more than 30 mins, 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 and refund. If that happens, we'll send the money back to the account it came from. 

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