What’s a guaranteed rate? | TransferWise Help Centre

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. 

As you finish setting up a transfer, we’ll guarantee your rate for a certain period of time. And as long as we receive your money within that period, you’ll get that rate locked. 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.

For USD and CAD direct debit payments, your rate is locked when you successfully pay from your account — even if it may take up to 4 working days for the money to reach us. 

Learn more about what happens if you miss the guaranteed rate

How long is the rate guaranteed on my transfer?

We guarantee your rate long enough for your money to get to us. This means that the guaranteed rate period can vary from 24 to 72 hours, depending on the currency you’re sending from. We’ll always tell you how long the rate is guaranteed for when you set your transfer up.

We guarantee your rate for 48 hours for transfers from AUD, BGN, CAD, CHF, CZK, HKD, HRK, JPY, SGD, and TRY.

We guarantee your rate for 72 hours for transfers from BRL. 

For EUR, we guarantee your rate until 19:00 (Central European Time) either 1 or 2 working days after you’ve set up your transfer — this depends on the time of day you set it up. If you set it up before 13:00, we’ll guarantee your rate until the next working day at 19:00. If you set it up after 13:00, we’ll guarantee your rate until 2 working days after at 19:00. 

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For all other currencies, we guarantee your rate for 24 hours.

What if my transfer falls on a weekend?

In most countries, banks don’t process transfers over the weekend — they start paying them out on the following working day. Because of this, we don’t count the weekend when we calculate guaranteed rates. 

If your transfer has a 48-hour guaranteed rate, and you set up your transfer on Friday, at 5:00pm, your rate will be guaranteed until Tuesday at 5:00 pm. 

If your transfer involves USD, your rate is guaranteed until the end of the next working day. If you set up your transfer on Friday, at 5:00pm, your rate will be guaranteed until the end of the working day Monday. 

Note: weekends in some countries, such as the UAE, are Friday and Saturday. In this case, we’d send out your money on the Sunday. 

What rate do I get if I set up a transfer on the weekend?

Because the market closes on a Friday, we don’t give new rates over the weekend. So, if you set up a transfer on a weekend, you’ll get the last rate before the market closed on the Friday. 

We stop getting live rates at 5pm New York time, and we start getting live rates again at 9am Auckland time. 

How many transfers can I 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 ones to get the best rate.

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If you created multiple transfers but only paid for one of them, we’ll assign your deposit to the first transfer you created. You can cancel any transfer you don’t intend to complete and leave just one active, so we know where to assign your money to.

Keep in mind that if you remain at one step of the transfer setup process for more than 30 minutes, the guaranteed rate will refresh.

What if the rate changes significantly?

When you create a transfer with a guaranteed rate, you’re subject to a rate limit of 5%. So if the rate changes by 5% or more during the time we guarantee your rate for, we reserve the right to cancel and refund your transfer. If that happens, we’ll send the money back to the account it came from. 

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