4 months ago 🏆 for day 295, 2019 with 403 words.

Wise transfer revolutions (pt 3/4)

In Part 2 I wrote about Transferwise and how it changed the way that I move funds between the UK & US and the associated currencies.

To get the most for your money you need to keep on eye on the exchange rate. Of course you can never predict which way they are moving but you can take advantage of them when they are in your favor.

I used to do this by hand using one of the many web sites that track the Interbank rates. The rates change constantly 24/7. The only time they seem to stop (or at least slow down) is at the weekend - well until Monday Morning in Japan.

One day I realized that there was probably a better way to do this. I'm a software engineer I should be able to build something to do this for me.

One of the websites I used had a REST API, I could call it to get the exchange rate.

I already knew of several services that I could use to send myself a text message.

Wiring the two together plus a database to store the results in I created a CronJob that runs every minute to check the rate, compare it to the previous rate and notify me if certain criteria were met.

This worked wonderfully, I added a small interface, made it into a PWA and added my wife's number to the notification list. It also gave me an excuse to learn Vue.js.

Dollar Rates

I now have several years worth of exchange rate information on a minute by minute basis from which I can draw my own charts and perform my own analysis. This system has alerted me at the right moments when I was considering moving funds or I've been able to take advantage of historically low rates - although Transferwise suspended transfers the day of the Brexit Vote (quite sensibly).

It's also my go to place when I need to check the exchange rate.

I've considered making the service available to others to allow them to receive timely alerts to changes in exchange rates. Maybe one day I will. There is still lots that I could do and it is the place I experiment. In the last couple of days I added an automatic "dark mode".

In the last part I discuss a newer method of international transfers.


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By Yorick Phoenix 🏆

Chief WriteTogether Bug Finder & character stringer. Generally to create computer code, but sometimes actual words and paragraphs. Listens to lots of music, takes lots of photos, & invests in stocks for the long haul.

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