Q:

How frequently do money transfer rates change?

A:

Quick Answer

For PayPal, money transfer rates are updated twice per day. For Western Union, transfer rates are updated multiple times per day. For TransferWise, transfer rates are updated constantly depending on the current mid-market rate displayed by different currency websites.

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Full Answer

In addition to fluctuating transfer rates, money transferring services generally charge 1 to 3 percent on each transfer. Traditional banks often charge fixed flat fees for exchange rate transfers.

PayPal, Western Union and TransferWise each offer pre-transfer currency rate calculators. Many other services offer transfer options including Halifax, Travelex, HSBC, Lloyds Bank and Barclays. CurrencyFair.com features a side-by-side comparison tool for different transferring services and offers tips for making the best choice.

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