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A comment on Show HN: World’s first £3 flat fee (0% FX markup) money transfer service. Parent comment

Re:Show HN: World’s first £3 flat fee (0% FX markup) money t... by Corinthian on Wednesday March 09, 2022 @04:02AM (#30612376)
Why would that be guaranteed? Do you have a magic formula that tells you exactly what the exchange rate is going to do at any given moment?

If so, can I see it?

[ Parent | on HN ]
Re:Show HN: World’s first £3 flat fee (0% FX markup) money t... by londons_explore on Wednesday March 09, 2022 @05:57AM (#30613176)
If the rate moves in my favor, I complete the trade and earn money (minus the £6 fee).

If the rate moves in the opposite direction I cancel the trade and retry in half an hour.

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Re:Show HN: World’s first £3 flat fee (0% FX markup) money t... by Keyframe on Wednesday March 09, 2022 @04:13AM (#30612462)
That's fairly standard, even among banks. I have a bank account and account with their FX desk, when I need to do conversions. They give me a spot rate real close to what you'd "seen on google", but I have to close the offer within the hour or it's not valid anymore. It's a big european bank.
[ Parent | on HN ]