Money4Travel Rate Setting Notice

Money4Travel Rate Setting Notice

These terms tell you the rules for using our website Money4Travel.com (our site).

Key Features of the Rate Setting Process:

Market-Reference Rates

The exchange rate offered by the Exchanger is determined using a comparison against leading bureau de change corporations within a specific geographic area, defined as a 10-minute drive from the Traveller’s entered post code.

These reference companies serve as a benchmark for the rates in that locality, ensuring that rates remain competitive.

Traveller-Specific Rates

For each currency request, our algorithm identifies the best available rate offered by reference companies for the amount of currency requested.

Once the optimal reference rate is identified, our system improves upon this rate, ensuring that the Traveller receives an attractive and competitive offer from subscribing Exchangers in that area.

No Involvement in Rate Setting:

As an Exchanger, you do not need to manually set exchange rates. Our system handles the entire process, allowing you to focus on providing excellent customer service.

Rates are dynamic and tailored to individual currency requests, removing the need for fixed rate tables.

Lead Time:

Exchangers must specify the currencies they wish to sell and the lead time required between order placement and collection by the Traveller.

Stop-Loss Protection:

To safeguard against potential losses, we use a stop-loss rate file. This approach ensures that the rates offered do not fall below a threshold calculated as ‘wholesale rate plus a margin’ that would result in a financial loss for the Exchanger.

This stop-loss mechanism acts as a backup in the event that a reference company offers an unusually generous or erroneous rate.