This XE Money Transfer review is intended to explain the pros and cons of using this company for both private and corporate international money transfers. We focus on the important aspects like fees and exchange rates, the quality of the online trading platform, and the level of service provided. XE Money Transfer as we know it today is a merger of Xe.com and HiFX that took place in 2019.
|🏛️ Established||1993. Owned by Euronet since July, 2015. Merged with HiFX since January, 2019.|
|🌎 International Clients||✓ Internationally|
|💱 Currencies Offered||98 Currencies. Full list available on website.|
|💷 Minimum Transfer||No set minimum|
|📲 Trading via||Website platform or mobile app|
|🏢 Offices In||UK, Canada, US,Australia and New Zealand|
✓ XE Money Transfer for european based individuals is now provided by HiFX Europe Limited, regulated by the FCA as an Authorised Payment Provider.
✓ Following Brexit, XE Money Transfer for European Union based individuals is now provided by Xe Europe B.V., supervised by the Netherlands Central Bank for the provision of payment services.
✓ HiFX is also regulated in Canada, Australia and New Zealand where the rebrand to XE money transfer similarly applies.
|🤯 Fees||No Fees Worldwide. Exchange rate depends on volume/currencies.|
|👨👩👧👦 Client Reviews||Over 53,000 reviews on TrustPilot|
|⭐ Client Rating||Approximately 96% positive feedback. Prior to merger with HiFX, XE had around 70% positive feedback.|
Ultra-Accurate Currency Quotes
Owned by Industry Giant Euronet Worldwide
Now provided by HiFX, fully regulated in all jurisdictions present
Poor app functionality as it stands
No Industry Awards or Recognition (for Money Transfers)
Not easy to find customer service contact details
Our Rating: Pending
Status: Not In MTC’s Most Recommended List
Our Top Rated Alternatives
Unsatisfied about the currency exchange rate XE money transfer offered you? Find XE money transfer alternatives:
- 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
96% Client Satisfaction
- Min Transfer: £/€ 100
- Currencies Supported: 40
- Offices : UK, EU, Singapore, and Australia.
- Our Rating : 93.4%
- Extremely Tailored Service
MoneyFact's Best Provider Award
Diverse Hedging Options
- Min Transfer: £/€/$ 50
- Currencies Supported: 120
- Offices : UK, EU, Australia, USA, HK, UAE, and South America.
- Our Rating : 92.8%
- Extremely Tailored Service
Industry Veteran since 1979
Diverse Hedging Options
Before you read the full review – learn more
XE Money Transfer FAQ
If you are an existing XE money transfer client and would like to close down your XE account – read this manual.
Wise vs XE: How the Two Compare?
Wise (formerly TransferWise) vs XE pits two of the biggest brands in the FX space against each other. Although, as we’ve already touched on, XE originally reached fame for its foreign exchange data services as opposed to its money transfer capabilities. What’s more, the benefits to using XE have been largely driven by their merger with HiFX as opposed to its ability to provide foreign exchange data. It’s also worth noting that most of XE’s selling points are only accessible to corporate clients.
The ability to trade options and receive dedicated dealer guidance through XE is not available to private clients. XE’s private offering has much more of a digital focus and for readers who are interested in going down the digital route then Wise (TransferWise) is likely to be the better bet. Its super simple interface and low costs make it a great option for spot transfers (i.e. payments initiated at the time of booking).
As a private client, it is possible to speak with a customer service rep through both firms but expect long hold times. Wise prefers to steer customers to the online chat in the first instance, whilst locating the email and telephone contact channels through XE proves difficult.For businesses or individuals who want to run balances in multiple currencies then the Wise borderless account is certainly worth a mention. Its multi-currency digital bank account allows customers to send and receive payments into digital bank accounts. XE has no similar competing product. So the question of TransferWise vs XE really depends on what a clients’ requirements are.
Read Full Review Below:
XE is one of the biggest brands in this space and its parent company Euronet is a payments juggernaut.
XE has some of the highest number of client reviews of any money transfer company in existence today. This can be looked at twofold – the firm has more negative reviews than can be found elsewhere but it also has more positive reviews than can be found elsewhere. Overall, a 96% satisfaction score is good – it’s not the strongest in the industry (Key Currency for example has 98% positive reviews) but it’s certainly not the weakest either.
Given that the private offering is largely online, private clients may prefer the better exchange rates offered by the online-only service by Wise or the benefits of both a good online trading platform and telephone trading service offered by Currencies Direct. For private clients, we do get the sense that XE gets a little caught between being a traditional currency broker and an online-focused digital money transfer company.
Corporates will enjoy the comprehensive suite of payment options, as well as the regular flow of market intelligence and the experience of XE (formerly HiFX) staff. XE’s ability to offer credit lines will also appeal and shows how a money transfer company that’s as large as XE can start to compete with a bank-level offering.
Readers who are keen to use a money transfer company that has been verified and approved by us can use the button below to discover the top recommended companies on our website.