The exchange rate for your currency conversion is determined by the global market rate at the time when the actual conversion is made (and not when you submit your payment order).
It is possible that portions of your transaction are converted at different times and would therefore be converted at different rates. We guarantee a full conversion within 2 business days of the deposit reaching us (unless your payment is set under the rate limit).
Your payment is protected by us from drastic changes on the currency exchange market. Should the exchange rate deteriorate more than 3% we will not convert your funds and wait for a better rate.
However – you can choose to limit the exchange rate yourself, in order to protect your payment from smaller, negative movements on the market. This means you can restrict the exchange rate at which your currency can be converted.
You can find this option by starting a new payment on the "Create Payment" page (Make A Payment/New Payment). Find the «Estimated exchange rate» link [Optional: Set a stricter rate limit] and select the limit accordingly.
You can choose between 0,5% and 2% from the drop-down menu, which then determines the limit range within which you allow the exchange rate to go down.
If such a conversion rate limit is chosen, it's likely that we won't be able to convert the funds as quickly as we normally do. Should such a ready-to-be-converted payment remain pending due to this, we will inform you after approximately 24 hours.
In case your payment is under a limit, the option "Instant Conversion" also disappears. In case you need to have the payment converted instantly (against a small separate fee), you need to lift the rate limit to a higher %.
You can also adjust the rate limit for pending payments. Just click on the payment and see the 'Waiting for currency to be converted' section, choose Adjust rate limit. Open the drop-down menu for the rate limits.
Note: When the conversion is in progress and the mid-market exchange rate changes, and the restrictive limit you have set kicks in, the conversion will be held for the remaining portion of the funds – whereas the initial part of it was already converted with the prior exchange rate. The rest of the amount will be converted as soon as the rate restores into the % range set by you.
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