Buying a home abroad, relocating, receiving a pension or paying tuition often means one large transfer — or a series of them — where the exchange rate can matter as much as the price. Here is how to plan it, and what Canary FX is building to help.
These are the standard tools currency specialists offer private clients. They are coming to Canary FX with our payments partner; availability and terms will depend on the partner and on eligibility.
Convert and send now at today's rate. Best when the payment is due soon.
Fix today's rate for a payment on a future date, so you know exactly what it will cost. Usually needs a deposit.
Name the rate you want; the conversion happens automatically if the market reaches it.
Monthly transfers for a mortgage, pension, rent or allowance, set up once.
Not sure which fits? Try the risk scenario tool or read spot, forwards and orders explained.
Pick a scenario or enter your own. We use today's ECB reference rate to show what your payment costs if you fix the rate now versus if the rate moves before you pay.
Illustrative arithmetic at the mid-market reference rate. It excludes provider margins and forward points (the adjustment a real forward rate includes). Deposit levels are set by the provider; 10% is only an example.
A purchase abroad is usually paid in at least two parts — a deposit when the offer is accepted and the balance at completion — often weeks or months apart. If your currency weakens in between, the property costs more in dollars even though the price has not changed.
Work out the price in dollars at today's rate and decide how much movement you can absorb. Set an alert on your target.
Pay the deposit. This is the point many buyers fix the rate for the balance with a forward contract.
Confirm the exact amount and the account details with your lawyer or notary — by phone, on a number you already have.
Send the balance so it arrives before the deadline, leaving time for bank processing.
Relocating often means moving savings in one or more large transfers, selling a home or car, and then setting up regular transfers for rent, bills or income. Splitting a large transfer across several dates is one way to average out rate movements.
If you receive a pension, rental income or salary in another currency, the rate on each payment adds up over a year. A regular transfer plan and a rate you can see every month make it easier to budget.
Tuition is usually due by a fixed date in the university's currency. Knowing the deadline months ahead makes it a good fit for locking a rate in advance, and living costs suit a regular monthly transfer.
For regular support to family abroad, small differences in the rate and fees on every payment add up. Compare what actually arrives, not just the fee.
One-off large payments — a wedding venue, a car or boat, receiving an inheritance, or moving investment proceeds — are where comparing the rate carefully can matter most.
Regulated providers verify customers before moving money — usually photo ID and proof of address.
Full name, bank name and address, account number or IBAN, SWIFT/BIC, and any local routing code.
The reason for the payment, and for larger amounts, possibly evidence of where the funds came from.
Tell us the amount, currencies and timing. We will follow up by email — and your request helps us decide which corridors to launch first.
Tell us what you need to move and when. We will follow up by email. This is a request for information only — nothing is booked and no money moves.
See the rate history for your currency and set an alert for the rate you want.
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