Glossary entry

Rate alert

A rate alert is a notification sent when an exchange rate reaches a level you choose. Some banks and transfer providers offer them in their own apps; this site does not send alerts. An alert helps you watch the market without checking constantly, but it does not predict where the rate will go, and it knows nothing about your deadline. If the alert is based on a mid-market rate, the rate you are offered will usually be a little lower, so check the real quote when it fires. See also: rate lock, mid-market rate, and the guide Using a Rate Tool and Rate Alerts Wisely.