When you send money internationally online, understanding exchange rates and fees is crucial. This article breaks down how these factors impact your transfer costs.
Our exchange rates are all-inclusive, meaning the price you see covers everything. This includes any profit, fees, costs, charges, or markups we determine. The specific fee or markup can vary for each customer and even for the same customer depending on the transaction method or platform used.
To manage risk and facilitate customer transactions, we engage in hedging, sometimes pre-hedging. This involves strategies like trading ahead of order execution, which can influence currency prices and potentially impact your costs or the amount received. We are not liable for these potential price fluctuations. If our hedging activities result in a profit due to favorable price differences compared to the agreed execution price or benchmark, we retain that profit.
These exchange rate transactions are conducted at arm’s length. As a customer, you enter into a transaction with us, not a principal/agent relationship. We have an economic incentive to be a counterparty in your transactions.
We assume no liability for discrepancies in our exchange rates compared to rates from third parties or rates we offer at different times, locations, transaction amounts, or payment methods (e.g., cash, checks, wire transfers). This includes any direct, indirect, or consequential losses arising from exchange rate differences.
