How do Best Exchange Rates FX Alerts work?
Exchange rates are volatile and can move considerably on a daily basis. Setting up FX Alerts will help you decide the best time to make a foreign exchange transaction.
These daily alerts can notify you either when an interbank exchange rate makes a significant UP▲ or DOWN▼ move or when a rate reaches a HIGH or LOW for periods up to 90 days.
How are they different to most FX Alerts?
Rather than requiring you to set a target rate, our rate alerts are 'Smart' in that they notify you when something important happens to your currency rate. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.
This means that the alerts can work for you continually as exchange rates progress over time without you needing to continually update a target rate.
Why alerts for only the last 90 days?
When comparing exchange rates trends for transfers or currency exchange the recent 90 days can be the most important period to consider. Looking at longer time periods may be interesting from a trading perspective, however our users generally have a more immediate time frame for their FX transactions.
So to keep things simple (and useful) we have chosen to limit our alerts to just the recent 90 days.
You can select to receive an email everyday (Mon-Sat) or only for New Alerts. The emails are sent daily around the New York close which is the traditional end of day for the FX market.
Some of the ways you can use these alerts to save money are; break up a larger transfer into smaller ones and send these when the rate moves up or hits a high; load money onto a travel card when the rate is in your favour to use on a future trip.
If you have any questions or suggestions regarding these alerts please contact us here.