Currency Exchange Rate Alerts
Exchange Rate Alerts :
Target an Exchange Rate
Transferring money internationally can become quite complex, especially when it comes to fluctuations between various currencies. Exchange rates change minute by minute and that can make transferring money and securing a suitable exchange rate a challenge. One rate you achieve today between two currencies is likely to be very different tomorrow. The impact of market shifts will depend on the reasons for making international payments. If it’s a one-off transfer to friends, family or to your own overseas account, then the impact might not be so noticeable. But, if you’re purchasing goods, property or for business reasons then the exchange rates are going to be very important to you, and securing the best rate can significantly enhance the value of your transactions.
What Are
Exchange Rate Alerts?
If you want to achieve market-leading exchange rates for your transfer, speak with St. George Foreign Exchange to discuss the benefits of setting up exchange rate alerts.
Exchange Rate Alerts
Exchange rate alerts are notifications sent to you when your two chosen currencies achieve the desired exchange rate. St. George Foreign Exchange can set up your rate alerts for your chosen currency pairs and once the exchange rate is available, we will inform you by email or phone. You can decide to secure the rate and make the transaction or delay to a future date.
Exchange rate alerts are not an order, or instruction, to make a transfer – you will only receive a notification and then it is your decision whether or not you decide to execute the transfer.
Benefits of Exchange Rate Alerts
Checking exchange rates can be time-consuming and with that comes frustration but it doesn’t have to be like that. A rate alert will give you a hands-off approach to rate monitoring because St. George Foreign Exchange will take care of that for you. We’ll understand when the right time arises and notify you without the need for you to check the exchange rates on a regular basis.
Compared:
Exchange Rate Alerts
Rate alerts and market orders are similar as you can set a target rate, yet the difference lies in who takes action. Rate alerts will notify you when the exchange rates are at the right level, but the responsibility is on you to then proceed to book the transaction. If you feel the time is right, then you can make the transfer or choose to wait to complete the transaction at a future date.
A market order is different because you are requesting or ordering the transfer. While the transaction is not booked until the exchange rate is at the desired level, it will execute once the rate is available in the market.
If you need to make a transfer in the future, then a market order is the best option. It will ensure everything is in place for the transfer to happen without the need to keep an eye on the exchange rates. Despite this, if you have a more relaxed approach to making the transfer, then a rate alert will keep you informed, allowing you to make the transfer when it suits you.
Is a Forward Contract Right for You?
Our experienced team is here to help. Get in touch to explore your options, understand the market, and discover the best FX strategy for your needs.
- Call us at +441273 661747
- Email us at info@sgfx.uk
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