About the Author

Founder & author

Gavan started iCompareFX in 2014 after discovering the easiest way to wire money internationally was through a specialist provider and not the big banks. Working with global clients, he has become an expert in comparing money remittance companies. An ex-financial/IT nut turned entrepreneur, he reviews the best and cheapest providers available on the market.

Personal and business transfers

Currency hedging tools

Account managers for business clients

Payments API for businesses receiving payments

Payment options

Bank account transfer

Debit card

Credit card

ACH (USA only)

BPAY (Australia only)
 

Payout options

Bank account

Transfer options

Online

Over the phone

XE Money Transfer app
 

Regular transfers

Available

Send money from

AED, AUD, BGN, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, KWD, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, SGD, TND, USD
 

Send money to

AED, AUD, BBD, BGN, BHD, BSD, BWP, CAD, CHF, CZK, DKK, EUR, FJD, GBP, GHS, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KWD, LKR, LSL, MAD, MUR, MWK, MXN, MYR, NAD, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RSD, RUB, RWF, SAR, SEK, SGD, THB, TND, TRY, TTD, TWD, UGX, USD, XCD, ZAR

Customer service provided via email and over the phone.

Email - transfers@xe.com

Phone - International phone numbers location: https://www.xe.com/contact.php


Personal Features

33

XE Money Transfer provides cost-effective international money transfer services for residents of various regions including the US, Canada, the UK, Europe, Australia and New Zealand.
 

What XE Money Transfer offers

  • International money transfers
  • Forward contracts
  • Market orders
  • Regular transfers

International money transfers - Existing XE Money Transfer exchange rates apply on your Spot transfers.

Forward contracts - Lock in existing exchange rates for subsequent transfers.

Market orders - Buy or sell currencies when exchange rates reach desired levels.

Regular transfers - Set up regular transfers to go out at predetermined intervals.
 

What XE Money Transfer doesn’t do

  • Unique local multi-currency accounts
  • FX-optimized travel card
  • Dedicated account managers (access only if you're trading over $100,000)
  • Digital wallets
  • Cash pickup

 

XE Money Transfer score

XE Money Transfer's personal services score is below average because customers don't get travel cards, digital wallets, multi-currency accounts or access to personal account managers.


Business Benefits

67

XE Money Transfer provides different forex-based solutions for business clients.
 

What XE Money Transfer offers

  • Forward contracts
  • Market orders
  • Mass payments
  • Payments API
  • Business account managers

Forward contracts - Secure existing exchange rates for up to three years.

Market orders - Set up an automatic trade for when the exchange rate reaches a desired level.

Mass payments - Use the XE Mass Payments system as a standalone platform, a managed service or a fully integrated API.

Payments API - Receive international payments from your clients directly through your website.

Business account managers - Turn to your account manager to make targeted trading decisions.
 

What XE Money Transfer doesn’t do

  • FX-optimized business travel card
  • Unique local multi-currency receiving accounts
  • Solutions for online sellers
  • Digital wallets
  • Accounting integration

 

XE Money Transfer score

XE Money Transfer's score suffers in this section because it does not provide business travel cards, multi-currency accounts, digital wallets and online seller solutions. 


Fees & Exchange Rates

46

XE Money Transfer fees - XE Money Transfer does not charge any fees for carrying out transfers.

Are there additional XE Money Transfer fees? - XE Money Transfer applies a nominal margin on existing mid-market rates.
 

XE Money Transfer score

XE Money Transfer can do better in this section by increasing transparency surrounding its exchange rates.


Ease of Use

79

What XE Money Transfer does well

Sign up process - Use the XE app or website to sign up, or you can sign up over the phone. 

Transfer speed - Your transfer can take 1 - 2 days. 

Payment options - Depending on where you live, you may pay via bank transfer, debit card, or credit card. Other region-specific methods are also available. For example, Australians can pay via BPAY.

Phone transfers - While you can send money online, you can also carry out over-the-phone transfers.

Minimum transfer amount - You can transfer any amount over $1.

Mobile app - The company provides apps for iOS and Android.
 

Where XE Money Transfer could improve

ID verification - The ID verification process can take 1 - 4 days.
 

XE Money Transfer score

Speeding up the ID verification and transfer processes, as well as making registration even simpler, would help XE Money Transfer increase its better-than-average score in this section.


Support & Countries

56

What XE Money Transfer does well

Supported send from countries - Send money from Australia, Bahrain, Bulgaria, Canada, Croatia, Czech Republic, Denmark, European Union, Hong Kong, Hungary, Israel, Japan, Kuwait, New Zealand, Norway, Oman, Poland, Qatar, Romania, Saudi Arabia, Singapore, Sweden, Switzerland, The UK, The US, Tunisia and United Arab Emirates.

Supported send to countries - XE Money Transfer lets you send money to more than 170 countries, in over 60 currencies.

Customer support - XE Money Transfer provides local phone support in a number of countries, including the US, Canada, the UK, Australia, and New Zealand. You can get support in English, French and Spanish.
 

Where XE Money Transfer could improve

More languages - You can only use the XE Money Transfer website in English.

Chat support - XE Money Transfer does not provide support via online chat. 
 

XE Money Transfer score

Providing website access in more languages, as is the case with the main XE website, will increase XE Money Transfer's score in this section. This also holds true for providing chat support.


Trust & Transparency

94

What XE Money Transfer does well

Regulated - XE Money Transfer is licensed by regulatory bodies in the US, Canada, the UK, Australia and New Zealand.

XE Money Transfer reviews - On Trustpilot, XE Money Transfer rates as Excellent, getting a score of 9.4 out of 10 with around 40,000 reviews. Most XE Money Transfer reviews demonstrate a high level of trust. 
 

Where XE Money Transfer could improve

Exchange rate transparency - You get to know of the exchange rate margin only toward the final step of your transfer.
 

XE Money Transfer score

Making its exchange rates completely transparent or charging a fixed margin would help increase XE Money Transfer's score in this section.

How to sign up to XE Money Transfer

Step 1
Sign Up

Begin the registration process as a personal or business customer.

Provide details such as your name, mobile number and address.

Verify your identity by providing details from your driver's license or passport.

Step 2
Set Up Your Transfer

Enter the amount you wish to send and the destination country.

Get an instant online rate quote.

Step 3
Confirm the Transfer, Make Your Payment

Accept the quote and lock the rate in place.

Provide the recipient's local bank account details.

Pay for your transfer using any of the available methods.

Depending on where you live, these include bank transfers, ACH (direct debit) and BPAY.

Step 4
The Actual Transfer

XE initiates the actual transfer process after receiving your payment.

The recipient receives the money in a local bank account within a predetermined time frame.

You may track your transfer by using the XE Money Transfer website or app.

FAQs

Is XE Money Transfer safe?

Yes. XE Money Transfer is safe to send money online. XE Money Transfer is fully regulated by the FCA. It has a Trustpilot rating of Excellent with over 37,000 reviews.

Is XE a good way to transfer money?

XE Money Transfer is a better way to transfer money internationally than using the big banks. The average exchange rate margin that XE Money Transfer charges is less than 1%. The big banks charge up to 5% plus an additional fee on top.

How long does XE Money Transfer take?

Upon receiving payment, XE Money Transfer can take from 1 to 2 days to exchange currency and send money to a foreign recipient's bank.

Summary

74

XE Money Transfer provides specialist international money transfer services for personal and business customers. It supports transfers in more than 60 currencies, to over 170 countries. The company provides currency hedging tools.

Pros

  • Regular transfers
  • Forward contracts and market orders
  • Phone transfers
  • Multilingual customer support
  • Account managers for business clients
  • Regulated in different countries
  • XE Money Transfer app

Cons

  • No travel card
  • No multi-currency accounts
  • No digital wallet
  • No cash pickup locations