How to Get More Value from Your International Money Transfers

. 3 min read

Got money? Need to transfer it to a loved one, friend, or supplier in another country? Wouldn’t it be great to eliminate the stress of turbulent foreign currency exchange rates, and be able to lock in at a given rate for multiple transfers, for as long as twelve months?

There are lots of reasons people send money across borders and around the world. We’ll list several of them here. If you don’t see yours below, we’re always interested in different use cases for our services. You bring the money and the destination account you want it to go to. We’ll bring the secure, reliable transfer services that make the regulators happy.  

  • Paying tuition at a distinguished post-secondary institution
  • Issuing payments to the owner of an idyllic vacation property
  • Purchasing a vintage sports car or custom motorcycle
  • Paying for a specialized surgical procedure
  • Overseas investments in businesses or securities
  • Paying for a destination wedding in a tropical locale

You have your reason to send money abroad. What’s important right now is to find a reputable service provider that will send your money on time and won’t charge fees which erode your savings.

Here are five ways you can optimize your international money transfer ROI:

1. Rate Alerts

For expats living abroad who frequently send money home to extended family, rate alerts may help you save money. Instead of proactively checking the Currency Converter during turbulent times, you can define the mid-market rate which suits your budget best.

When the currency pair you're interested in matches that rate, XE will send you an automated email to let you know it's an ideal time to trade.

How to Set a Rate Alert on the Currency Converter application

2. Market Orders

Want to transfer money, but aren't pressed for a specific transfer day or time? Market orders allow you to pick an exchange rate you are comfortable with, and as soon as the currency pair matches your order rate, your transfer will be sent immediately.

3.  Spot Orders

Need to make a transfer, or multiple transfers right away, but concerned the exchange rate might change against you before you complete your transaction? Spot orders enable you to lock on an exchange rate for a single or batch of transfers without paying more due to rate fluctuation.

4. Forward Contracts

Businesses and consumers that need or want to conduct recurring transfers abroad can lock in at a specified exchange rate. An XE Customer Service Representative can help you lock in the value of a defined currency pair for up to (or possibly longer than) a twelve-month period.

5. Currency Market Analysis

Interested in world news, and how it impacts currency valuations? Subscribe to the XE Currency Market Analysis and Currency Update e-mail newsletter services. When you understand the forces which move currency markets, you can better predict the direction of exchange rates, and protect your interests in tumultuous times.

Ready to get started?

Register for an XE Money Transfer account today. You’ll save money on transfers, and you’ll have the peace of mind your funds are secure, and you’ll know the moment they are accepted.

Please note:

The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade. Xe its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

While we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible. Case Studies and articles are not intended to predict future moves in exchange rates or constitute advice.  

Xe makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources. If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from Xe, we recommend that you seek independent financial advice first.

For more information about Xe, please click here: Regulatory Information