Understanding exchange rates at Paysend
We believe in full transparency, especially when it comes to the exchange rates that affect your money transfers. To ensure you have all the necessary information upfront, here's what you'll see before confirming any transaction:
- Transfer fee: The fixed amount you will be charged for the transaction service.
- Exchange rate: The current rate at which your currency will be converted to the recipient's currency. This rate is locked in at the time of your transaction, so there are no surprises later on.
- Total payment: The sum of the transfer fee and the amount being sent, in your currency.
- Total to recipient: The exact amount the recipient will receive in their own currency.
How we determine exchange rates
Our service collaborates with prominent international payment systems, including Visa, Mastercard, and China UnionPay, in addition to working with currency exchange markets across various countries. This extensive network enables us to offer competitive exchange rates.
Advantages of our exchange rates:
- Upfront information: The exchange rate is provided before you commit to a transfer, ensuring there are no hidden costs.
- Competitive pricing: We offer exchange rates that are competitive and reflective of the current market.
- Multiple currency options: With a broad selection of currencies available, you can complete transfers across many parts of the world.
- Real-time rates: The rates are based on real-time data from currency exchanges, ensuring accuracy and fairness.
Remember: exchange rates can fluctuate due to the dynamic nature of the foreign exchange markets. However, once you confirm a transaction in Paysend, the exchange rate applied to it locks in, guaranteeing that it stays the same until the transaction is successfully completed.