XE Money Transfer is a licensed money transfer provider that allows you to make international money transfers and manage your account. It is authorized to send international business payments or money abroad. Setting up your transfer through XE.com and signing up to register is fast and easy. 

Read this review to find out more about the advantages and disadvantages of using XE Money Transfer and determine important aspects that include fees, exchange rates, as well as the online trading platform it provides.

What Is XE Money Transfer?

The company was established in 1993 and is one of the first currency exchange rate providers online back then. In 2002, the company started an XE Trade, which is an online international transfer service. Since then, they’ve processed billions in global payments and served thousands of individuals and businesses. Fast forward 2015th of July, XE.com was brought by Euronet (owners of HiFX and Ria Money Transfer). 

As part of the Euronet Group, XE Money Transfer was able to process $115 billion volumes of transfers. Today, XE Money Transfer provided by HiFX is directed in Europe, Australia, Canada and New Zealand. This is a plus to XE’s existing licenses in the US. Furthermore, it works with Western Union, which is known to be the largest non-bank money transmitter in the globe.

XE.com is known as the world’s currency authority, considering how long it has been in business. It is provided by HiFX that is regulated by the FCA in the UK. Despite all these, XE Money Transfer is still not listed among the best currency transfer companies to provide money transfer service. The margin of exchange rate comprises most of the total costs of your transfer.

How Does XE Money Transfer Work?

XE has since expanded globally and now serves more than 33,000 individuals make transfers internationally every year. XE’s website can seem complicated but the process of setting up an account and initiating a transfer is simple. Besides, you can use their toll-free numbers where you can get available advice within business hours. 

First is to set up and XE account by registering on their website. You have to enter your name, address, contact number and details required to set up an account. You may also be required to give your bank information or valid proof of identification such as identification documents. Along with providing the essential information to set up an account, you have to determine that types of exchanges you plan or prefer.

Next is to decide on the currencies that you want to exchange and booking a rate through the XE Money Transfer Website. An alternative way to do this is by contacting their customer service centre. You’ll have to supply your details if you are the sender and essential information about the receiver of the money. This can include the receiver’s bank account.

How To Set Up An Account

XE is one of the most popular brands in terms of currency exchange. They are often the most preferred website if you have to check the exchange rate. 

When it comes to payment, XE accepts BPay or bank transfer. So, you have to have those details handy. You must also have funds on your account to make the transfer. Besides, XE can’t complete the transfer unless you pay and clear the funds. Moreover, you must be aware that it will take time for XE to complete the transfer. To transfer money follow these simplified steps:

  1. Head straight to their website 
  2. Use the currency converter and choose the pair that you need to see the exchange rate
  3. Select “send money now” at the right-hand side of the page.
  4. You’ll see the information about your personal or business accounts along with the currencies, rates and fees.
  5. Click on ‘get started’ and enter your county and email address
  6. Complete the details and press continue
  7. Create your password 
  8. Fill in the required identification information
  9. such as your address, contact number, date of birth and other details required
  10. Provide information about the types of transfers 
  11. Estimate the amount of currency you’ll transfer in the next 12 months and how frequent you’ll be making the transfer.
  12. If prompted on how you heard about XE, select the most relevant answer from the choices
  13. Agree to the terms and conditions and proceed in utilising the services offered by XE Money Transfer

Sending Money With XE Money Transfer

When sending money abroad via XE Money Transfer, you can pay through bank transfer, or by using your debit or credit card. The money you sent is converted b XE Money Transfer and deposits the funds into your receiver’s bank. After sending, you can track your money transfer via email or SMS alerts and notifications. You can set up recipients, orders and rate alerts once you’re able to set up an account. To send or transfer money abroad:

  1. Select the currencies that you need and the amount
  2. Click ‘new transfer’
  3. Fill in the details of the receiver such as the name, country, address and bank details
  4. Click ‘continue’
  5. Enter payment details
  6. Confirm the rate and order
  7. Make a payment to XE

Pros and Cons


  • You can exchange among over 120 countries and 60 currencies.
  • Most transfers are completed in one working day but can take up to four working days.
  • Known brand
  • Easy registration process


  • The exchange rate is not the best that you can get
  • Some transfers took long to process
  • Rates are higher as compared to other brands
  • Complaints regarding the online system
  • Clients are getting less money than what is expected
  • Client support is not at its best
  • Rates are worse than the banks sometimes
  • Local cash pick up is not supported

Additional Services

XE also offers various services for individuals with multiple currency transfer needs such as:

  • FORWARD CONTRACTS — locking in an exchange rate for up to 2 years for future use through an upfront deposit.
  • REGULAR PAYMENTS — setting up an exchange rate for transfers between currencies which are paid through a direct debit.
  • REGULAR ALERTS — you can signup to get notifications on rates via email if a currency attains a certain exchange rate.
  • BUSINESS SERVICES — XE renders several services for businesses such as automatic alerts, international payment alternatives, account control, multiple payments, progressing orders, credit courses, and more.

Global Reach and Services

XE Money Transfer accepts clients around the globe. They handle more than 60 currencies with offices located in the UK, Spain, Canada, Australia, New Zealand. Their main target are clients from:

  • North America
  • Australia-NZ
  • Europe
  • UK

Basically, the website content for these locations are similar. The only distinction is the end-user agreement which depends on your region.

The Fees And Exchange Rate


XE boldly asserts that they do not impose any set charges per transfer. However, before 2017 this details was not stated on their website. This is because the company has imposed charges under certain circumstances. Besides their money transfer do not offer special promotions.

Exchange Rates

Though the exchange rates might be competitive, they’re not the best that you can find in the market. In fact, the rates are not visible on the website unless you register online, contact customer support or get the current rates. The rates they offer depends on the currencies and the trading volume.

Moreover, there are mixed opinions from clients about the exchanged rates used by XE. They usually offer exchange rates ranging between 0.4% to 1.2% which is lower than the benchmark inter-bank value.


They have not specified certain limit on the website in relation to fees and exchanges.

Transfer rates & fees

XE Money Transfer will not charge you when transferring money. However, there are cases wherein you’ll get charges for transaction fees. The bank receiving your transfer or intermediary bank may impose fees and deduct it when you credit the payment. This is the reason why you should check the recipient’s bank. On the contrary funding transaction through credit card will have a surcharge of approximately 1.6%.

Credibility and Security

XE Money Transfer is licensed and authorized; trusted by billions of customers around the world. It is a part of Euronet, which is the third biggest money transfer business in the globe. Euronet also owns Ria which allows money transfer to recipients who prefer to pick up their money personally.

Furthermore, they’ve utilised strong encryption and technology to secure and protect your funds that are held in segregated accounts under regulatory requirements.

Clients Feedback

As per TrustPilot reviews 96% of the 38,000 are said to be positive. Being a known brand and with the wide use of the service, the number of reviews are much higher than usual. This could perhaps comprise HiFX reviews. XE accumulates an additional 10, 000 of reviews just last year.


  • Clients like going for the bigger and popular brand
  • Excellent rates
  • Smooth and seamless transaction
  • Simple and easy to register 


  • Rates appear to have been raised for selected HiFX since XE migration
  • Trades take longer than they expect
  • The online system is complicated than before
  • Recipients are getting less money than what they expect
  • Non-responsive staff
  • Poor rates
  • The online platform is a bit tricky and not user-friendly

Customer Support

Generally, most consumers are not satisfied with their experience. The most common issues with XE are encompasses customer service, which is not as great as anticipated by some customers. Generally, most consumers are not satisfied with their expeience. The most common issues with XE are encompasses customer service, which is not as great as anticipated by some customers. Most clients states that it is hard to get in touch with XE Money Transfer


XE is reputable and trusted in terms of international foreign exchange. However, it doesn’t mean that it suits everyone. In general, XE has solid transparency on the timing of transfers despite the complaints.

An Alternative To XE Money Transfer

Below are sime of the 5 companies that you can choose fro as an alterntive to XE. This is in line with the quality of teh service they provide in terms of convenience, costs and protection.

  • WorldFirst — A company based in the UK, offering services for personal and business alike. They do not charge fees for making an international money transfer but won’t suit you if your transferng smaller amounts. This is because they have a minimum trasfer amount of $2,000.
  • TransferWise — Initiates a peer to peer money transfer service. They are known for their fast transfers and competitive exchange rates.
  • OFX — An excellent alternatibe to XE due to a much lower rates and fees. Also, it allows you to make larger transfers if you need to.
  • TorFX — A UK based firm that are suitable for larger international transfers. It has better customer support as compared to XE. It can also give personalised advice when necessary each time you transfer.
  • PayPal —  One of the most popular international money transfer. It is widely used for payment systems for goods and services. They provide a convenient way to transfer money in the same country and abroad.

FAQs On XE Money Transfer

Is XE Money Transfer Safe?

Since XE is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, they have to ensure that the funds are secured and protected.

How do I pay XE Money Transfer?

All transactions are made by bank transfer and you will have to inform your bank to initiate the payment to via online banking or telephone banking.

What currencies can I transact?

XE trade in 60 currencies so you can transfer money to over 170 countries. You can check the list of currencies in their website.

What do I do if my payment is coming from a 3rd party?

This means when your payment is not coming from a bank account under your name. When this happens you can get in touch with then at +44 1753 441 844.

Company Details
  • Registration Number: 12947470
  • Incorporation Date: 2020-10-13
  • Status: Active
Loan Details
  • APR: See Website
  • Loan Amount: See Website
  • Repayment Duration: See Website
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