HiFX Money Transfer Review

📝 Important Information October 2022:

Xe Money Transfer is provided by HiFX Europe Limited. This review provides background to HiFX so you can get an understanding of the business that has recently rebranded to XE Money Transfer. For the full up-to-date review of XE Money Transfer visit our XE review here.

LogoHiFX logo
🏛️ Established1998
🌎 International ClientsAccepted
💱 Currencies Offered60
💷 Minimum Transfer£50 (UK)
📲 Trading viaOnline Platform, and telephone.
🏢 Offices InUK, Spain, New Zealand, Australia.
⚖️ Regulation

Financial Conduct Authority (UK)

FMA (New Zealand)

FOS (Australia)

🤯 FeesNo fees
👨‍👩‍👧‍👦 Client ReviewsOver 8000, mainly on TrustPilot
ℹ️ Websitewww.hifx.co.uk (now XE.com)
🏆 Awards
Australia Business Awards, 2011
Tech Innovation Awards NZ, 2011
👍 Advantages

Recognizable Brand

High Rating by Clients

Operating since 1998

60 Currencies

👎 Disadvantages

Fixed Fees of £9 – Quite High

Badly Rated App

Negative Reviews on our Comment Section

Complaints About UK Post Office’s Services

View Recommended Alternatives:

Uncertain about your choice? Discover Top 3 Hifx competitors that provide the same services:

Currencies Direct
  • Min Transfer: £/€/$ 100
  • Currencies Supported: 39
  • Offices : UK, EU, USA, India, South Africa.
  • Our Rating : 97.8%
  • Most Global Offices and Reach

    No Fees from Anywhere and Competitive Rates

    96% Client Satisfaction
  • Min Transfer: £/€ 100
  • Currencies Supported: 40
  • Offices : UK, EU, Singapore, and Australia.
  • Our Rating : 93.4%
  • High Quality Bespoke Service

    MoneyFact's Best Provider Award

    Over 100 Years of FX Experience Across Its Trading Desk
  • Min Transfer: £/€/$ 50
  • Currencies Supported: 120
  • Offices : UK, EU, Australia, USA, HK, UAE, and South America.
  • Our Rating : 92.8%
  • Business Oriented, Many High Profile Business Customers

    Industry Veteran since 1979

    Diverse Hedging Options and Excellent Guidance
Compare more Hifx competitors before you continue to read, you might receive better currency exchange rates. Don’t miss our detailed TransferWise and OFX reviews.

Our Rating: N/A

Status: Not In MTC’s Most Recommended List

HiFX is Now XE.com money transfers

Read More:


 Does HiFX still exist?

As a legal entity yes, but it now operates under the XE brand. Readers who preferred the currency broker service of HiFX would receive a very similar service by Currencies Direct.

 Why was the HiFX brand removed?

Despite its reputation as one of the earliest currency brokers to have launched in the UK it was acquired by Euronet who also own XE. The firm backed the global brand of XE to be more preferable in the long run.

 Who are reputable HiFX alternatives?

As we have mentioned, Currencies Direct offers the same solutions that HiFX did. OFX and TorFX do as well – all have been around for a similar length of time and offer bespoke currency solutions tailored to individual clients.

Company Information and Credibility

Company Information:

As Euronet has acquired both HiFX and XE.com they have not surprisingly decided to rebrand their money transfer offering in line with the globally recognised xe.com. HiFX was a well known UK brokerage firm assisting both individuals and businesses with their foreign exchange requirements. XE had previously offered users an online system which allowed individuals to send money abroad for remittance purposes but with little customer support available. The newly branded XE.com means the group can leverage the XE brand name but provide better support capabilities and expertise from the team that was built by HiFX.

More background to HiFX

HiFX was one of the original UK currency brokers founded in the UK in 1998. It was meant to be a banking alternative for white-collar individuals to cut down on the cost of sending money overseas. The company grew over the next decade-and-a-half, establishing offices in the US, New Zealand, and Australia. In 2014, HiFX was purchased by American Euronet, which is a parent company to remittance transfer service Ria.

Euronet agreed to keep HiFX’s staff and initially its branding, using the company to expand its customer base from the Hispanic immigrant population served by Ria. In the year since the buyout, HiFX’s reputation for affordable and excellent service has only been amplified, making the company one of the best currency transfer companies available on a broad international scale.

Regulated By: 

Financial Conduct Authority (UK), FMA (New Zealand), FOS (Australia)


Australia Business Awards, 2011

Tech Innovation Awards NZ, 2011


A company that transferred over £134,549,388,534 by itself (over 200bn combined with sister companies), 8 international offices, and has over 8000 client reviews places the group on the top of the scale when it comes to credibility.



Client Feedback


HiFX has some of the most glowing feedback found for any currency transfer company, in both quality and quantity. TrustPilot: 9.5/10.0 (8000+ reviews). ReviewCentre: 4.5/5.0 (100+ reviews).

These are the two popular platforms for client reviews in the money transfer vertical, and we strongly rely on their feedback on our rating.


HiFX had left a strong positive impression with the majority of clients that rated them online. Among the qualities mentioned you can find:

  • Personable approach
  • Prompt response
  • Easy sign-up and process afterwards
  • Good rates
  • Easy platform

We have located a small amount of complaints about HiFX, and also about the UK Post Office Currency Transfer service that they provided until mid-2015. The few we did find discussed these areas:

  • Errors on Transfer
  • Fees incurred in a non-transparent way
  • Rates not as cheap as competitors
  • Not transparent
  • Unhelpful service




Most people are very happy with HiFX’s services and all of their offerings. These people, which amount to 85%+ of all client reviews, feel they have got a great deal in terms of pricing, and receiving the service as expected.

On the other hand, you can find some HiFX complaints around, some of them on the official HiFX client review pages, and some relating to the Post Office Money Transfer services that HiFX provided until mid-2015. These people are very upset about every aspect of service, and claim they have been charged with unanticipated fees.

To summarize, it seems like HiFX’s service may be inconsistent at times but it is generally good.



Exchange Rate & Fees


FeesFees are incurred globally – £9 per transfer for all transfers below £3,000, and $15 below $5,000 in the USA. Not only this makes the exchange rates much worse for those who are looking to transfer a thousand or two (9 pounds translate to almost 1% of the funds transferred), it makes testing HiFX more difficult. If you want to learn the process and try one test transfer of £100 or £200, it will cost you dozens of Pounds to initiate it.

November 2017 update: HiFX seems to have dropped their fees. This is what we can see on their website but we don’t know whether this is a global policy or only for the UK. We will further investigate the matter.

Exchange Rates: It’s really difficult to say how HiFX’ rates compare with other companies. As with other companies we tested, they should be able to save you 50% or more of the transfer costs in comparison with banks. The question is which rates will they be able to offer a price that beats other companies’ quotes remain unanswered but our assumption, because of the ample size of the company, is that they would be able to provide a very tight margin quote on larger amounts.

Here is the most recent comparison they published:


Limits: Very comfortable limitations online of €50 to €300,000 which makes this service available to almost everyone.

HiFX Review – Fees – Conclusion:

HiFX is up there with the big players like CurrenciesDirect, WorldFirst or TorFX in terms of fees and exchange rates.

Global Reach & Service


  • Dedicated Dealer: Yes.
  • Offices: UK, Spain, New Zealand, Australia.
  • Ways to approach: Email, Telephone.
  • Translations: None but localized version for USA, New Zealand and Australia.
  • Accepts clients: Worldwide
  • Currencies Handled: 60.
  • Client reviews: Usually like the service.


Users can usually get friendly, helpful service available by phone or email, with support based in New Zealand, the United States, the United Kingdom, and Australia. Personalized advisors are available for large or complex transfers. Customer reviews are very positive on this front, describing service as competent, courteous, and prompt.

There are local offices for clients in various regions of the world, and they deal with more currencies than the vast majority of companies.



Additional Functionalities


HiFX offers only spot contracts through their web platform. All normal hedging features, including spot and forward contracts as well as stop and loss orders, are available by phone.

For Online Sellers:

Many of HiFX’s customers are businesses, but the company makes no special provisions for web merchants.


HiFX users will now need to log into the XE money transfer app. Interestingly the group haven’t yet looked to combine the highly rated XE app with the XE money transfer app yet. We suspect this is so they can resolve and fix the issues specific to the XE money transfer app first which generally has poorer feedback – 2.8* on iTunes and 3.4* at the play store.


Standard offering on hedging, nothing special for merchants (or at least not advertised) and a sub-par app at the moment.



HiFX vs World First

How does World First match up with its possibly biggest competitor, HiFX? Why did we gave World First 95.4% on our World First review, against HiFX’s mere 80.0%?

When you look at World First vs HiFX, there are several advantages that World First has in comparison, and this is why we believe it may be a better choice.

  • World First has a “Best Rate Guarantee” for UK clients, which means the rates will always be cheaper than competitors (if you shop around).
  • World First doesn’t levy any fixed transfer fees (with the exception of $10 for American clients for small transfers), HiFX charges £9 per transfer for all clients under £3,000.
  • World First has been winning more impressive industry awards, and more impressive directors including the former deputy of Bank of England.
  • World First has a more diverse offering to business clients with its World Accounts functionality.
  • World First have the smoothest sign up process in the business.

Thus, when we compare HiFX’s services to World First’s service, albeit they are very similar, we believe World First is the better options for most clients.

Please note WorldFirst accepts only business customers.

HiFX Money Transfer Review Summary
80 of 100 1 review
  • Credibility Score - 95%
  • Client Feedback - 80%
  • Fees, Exchange Rates - 80%
  • Global Reach, Availability, Service - 85%
  • Added Values - 60%

Bottom Line

HiFX is a very solid choice for money transfers. With 20 years in operation, 8 worldwide offices, and €100bn transferred, it is extremely reliable. Clients are consistently happy with the service they have received. The downsides? €9 in fixed fees per transfer, and a terrible app.

Remember this is our old review which has been updated to provide background on HiFX. For a full up-to-date review please visit our review of XE Money Transfer.

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6 years ago

Hifx is not a good service provider for forex. I sent the money through them – it didnt reached the recipient.
They are not professional in handling any issue. customer service is very bad. Be prepared for the funds to be lost if you transact with hifx.

Michael White
6 years ago

I attempted to create an account in order to send money to the UK from where I work in the Middle East. Account set up was fast but so much personal info was required by them in order to prove who I was as well as waiting for an authentication number to be sent by post to prove my address. Then without warning me they tried to call my employer to confirm that the proof of address letter I had requested from them was in fact real. All this conspired to make me miss the good exchange rate I had… Read more »

6 years ago

I have a similar problem to Michael, I moved to Thailand but was still using my brothers UK address as my residential address. I happened to phone HIFX about something and their representative advised me to change my address to Thailand to which I then did. Now it’s an uphill battle to get my address changed to here and my account is blocked, I have very little paperwork in English but even after receiving the urc letter they won’t accept letters from BUPA or my BUPA membership certificate as proof of address. ( I had previously provided letters from my… Read more »

Andrew Welsh
5 years ago

I sent a transfer to Japan for my daughter at university and it has still not arrived, i phoned on several occasions and still nothing has been done, they tell you one thing on the phone then do not follow up, i have recieved emails saying they are putting a trace on it, but that is as far as it goes. I transfer from the UK to Spain every month a far amount of money and have had no problems so i can only think Japan was out of there capabilties, hence to say i am looking to use a… Read more »

5 years ago

Please which company will be best in transferring USD from Nigeria to China by using the naira equivalent on the live exchange market?

5 years ago

Such a shame HiFX couldn’t deliever under the pressure!
We told HiFX from the start we needed the transfer to happen asap as we were exchanging on a house.
There were problems from the beginning. The lack of communication from them was unacceptable coming from a big company. We had to phone them over ten times, always speaking to a different person. Never told we had to verify our account until we rang them in a panic wondering where on earth our money was.
Shouldn’t be so stressful…..surely?!?

5 years ago

Hi I have nothing to do with this company and they tried to take money out of my account never heard of them and plus I don’t even have any cash in my bank. They are crooks I have my bank investigating because it is not fair for hifx taking money out I don’t have.

5 years ago

Seem like lots of complaints.

It must have some company that better than hifx out there.

5 years ago

I have had a terrible experience with HiFX I decided to use them for the 1st time to send money to China for purchase, the website said it would take up to four days, that was 10 days ago up to now there’s been no resolving my issues I call them they make false promises on the phone and nobody gets back to me! I have to follow up and they use very pleasant language to say they have done nothing! I would not recommend using this service they will waste a lot of your time. And you never get… Read more »

5 years ago

We’ve been using HiFX for the past three years and we couldn’t be happier. Much cheaper and quicker than our bank would have been.

The transfers have always been very easy to complete and arrived at the destination account within the time specified. We transfer to Spain regularly, so perhaps the process is much simpler within Europe.

We’ve just made another transfer and were very pleased to see that the £9 transfer fee is no more!! Great service, we would thoroughly recommend.

4 years ago

I have used HiFx for a payment transfer back into UK currency. The result was that HiFX held onto my money for 5 working days after they had received funds into their accounts. When I asked why the delay they initially said it was public holidays etc in the other country, when I pointed out that they had already received the money into their UK account before these public holidays they then changed their reason to we had contracted to transferring to you at the later date (I checked and could not find any info to support this). I have… Read more »

4 years ago

Hi guys, im looking at transferring money from China to Australia for bills etc. Easy process?

Nick Johnson
4 years ago

Recipient had to pay $125 of hidden charges due to additional complexity from the HiFX service. This is not clear from any of the HiFX documentation and they do not accept any liability for charges imposed by other banks as a result of using HiFX. Use at your own risk.

Paul hubbard
4 years ago

Do not use HI FX I had an old contract that I didn’t relise was open and when I changed my money on new contract with that reference code they changed money over on a very old rate and lost a lot of money It was very poor of them to do that to hard working people , when I called them I spoken to very poorly and was told I wasn’t knowledgable That’s fine I’m a carpenter I don’t expect to be knowledgable that’s why I put trust in Hifx to use their experience but they completely frauded me… Read more »

Miss Money Penny
4 years ago

You might want to update this review. They’ve dropped their fees on lower amounts.

4 years ago

Very bad customer service. Over 2 weeks that i have sent the payment and still has not been sent to recipient. Thay have asked so many questions that i have provided straight away. According to them the bank they work with is at fault and holding the funds but that’s all they tell me. Avoid this company they are very bad! If i transfer back the money i will loose as the rate has droped. USE somebody else as when you have a problem with them they are rubbish! I have now lost 1 of the lodge i wanted to… Read more »

4 years ago

Which currency transfer agency is better than HiFX for transferring funds from UK to US (GBP to USD)?, Please advice.

4 years ago

USELESS- use OFX instead.
Fine if things go well – useless if they don’t. I used OFX 30 times last year without a hitch. HiFX has an over zealous ‘compliance’ department that froze my £10k no reason and a useless customer services front end that never once contacted me to try to sort things out

4 years ago

I sent us dollars to China, HIFX demanded that I supply a passport number, citizens status, and copy of invoice of my supplier to them. I had no such information, why would I? It was simply a payment for goods which I was importing to Australia. I will not deal with HIFX ever again, they are weird.

simon ashdown
4 years ago

rubbish. they are dodgy. the worst service I have ever come across. Nobody talks any sense. Beware if you ever go on holiday or leave the UK because they will suspend your account. An international payments company that requires you to be in the UK 365 days a year. Nobody ever answers the phone or email. Cant stand this company

John De guzman
4 years ago

I had an horrible experience to this company! Never ever gonna recommend this money remitting heartless company. Just because i tried to remit an amount of 17k euros, theyre thinking i got enough money on my banks to charge me over 700 euro cancelling the remittance. I only made a credit here in germany to send my family not to get kicked out of our mortgage house in Philippines. Im just the breadwinner of my family, and this hifx charging me with that said amount! I got some reasons why i cancelled d transactions, i was away from vacation when… Read more »