FX Rate Lock Guide for International Payments

FX slippage is the cost of the exchange rate moving between when you initiate a payment and when it actually settles. On a $100,000 vendor payment that takes 3 days to settle, a 1% rate movement costs $1,000. Most payment platforms expose you to this risk — you see one rate at initiation and receive a different one at settlement.

Bitwage's FX rate lock guarantees the conversion rate at the moment both approvers sign off on a payment run. The rate is locked immediately upon dual approval — regardless of how long the actual bank transfer takes to complete. If the euro strengthens 2% between approval and SEPA settlement, you absorb none of that movement.

Rate lock applies across all currency pairs and payment rails. It works identically for a $5,000 payment to a German vendor via SEPA as for a $500,000 payment to a Japanese supplier via Zengin. The locked rate appears on your payment confirmation and settlement report for full auditability.