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    XE Money Transfers – Guide and Review

    XE works on razor thin margins for money transfers to more than 100 countries and nearly always guarantees a fantastic deal. Transfers can be booked online and over the phone and most are processed within a single working day.

    Jul 14, 2020 (Upd: Feb 5, 2024)  

    XE Money Transfers - A summary

    Established in 1993, XE.com quickly became the world’s most viewed currency site. Now, under the ownership of Euronet (a NASDAQ-listed company), XE Money Transfers is a leading foreign exchange and money transfer service that provides a range of services to individuals and businesses worldwide.

    The company offers competitive exchange rates, low fees, and fast, secure international money transfers that can be completed online or through a mobile app. XE Money Transfers also provides a range of tools and features to help clients manage their currency exposure, mitigate currency-related risks, and optimize their FX transactions.

    One of the main advantages of using XE Money Transfers is the competitive exchange rates offered by the company, which are typically lower than those offered by traditional banks and other FX providers. XE Money Transfers charges low fees for its services, which can help clients save money on their international money transfers. The company also provides a range of tools and features, such as real-time rate quotes, customizable alerts, and risk management solutions, that can help clients optimize their FX transactions and reduce currency-related risks.

    The company has a strong reputation for reliability, efficiency, and customer service, and has been serving clients globally for over two decades.

    XE Money Transfers is regulated by various financial authorities depending on the jurisdiction in which it operates. In the United States, XE Money Transfers is registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB) and is licensed as a money transmitter in multiple states. In the United Kingdom, the company is authorized and regulated by the Financial Conduct Authority (FCA) as an authorized payment institution. In Canada, XE Money Transfers is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business. The company also operates in other jurisdictions and is likely regulated by the local financial authorities in those countries.

    However, it is worth noting that XE Money Transfers may not offer the same level of personalization and support as some other FX providers, as its services are primarily online-based. Additionally, clients who prefer in-person service may need to consider other providers. Nonetheless, XE Money Transfers is a great option for those looking for a reliable, low-cost, and convenient way to send money internationally.

    XE Money Transfers - Rate Calculator

    The below live XE rate calculator shows how much you could save on your next foreign transfer by using a broker such as XE Money Transfers rather than your bank. Note the margins are compared to the current mid-rate.

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    XE Products

    Spot Transfers - Lock in the exchange rate when you are ready to make your transfer

    Forward Contracts - Lock in the exchange rate today for future transfers. Transfer anytime at your locked rate within 3 years

    Market Orders - If you are targeting a specific rate, pick a rate and transfer automatically when the market hits your desired rate

    XE Web app screenshot

    What Savings Can I Expect?

    XE consistently ranks as the cheapest or joint-cheapest foreign exchange provider for major currency routes that we monitor. When you sign up for XE via BestExchangeRates, you’ll be guaranteed razor thin margins on all your overseas transfers.

    XE’s “no fee” policy means that all transfer costs are contained within the company’s exchange rates. Like nearly all other firms, XE manipulates the interbank (or “mid-market”) exchange rate to guarantee itself a profit, but in this case we absolutely cannot complain because the rates offered are outstanding.

    To give you an idea: the total cost of sending $10,000 to the UK, Europe, India, Malaysia, Thailand and many other countries could cost 5-10 times more when handled by well-known banks.

    XE’s costs are similar to those levied by OFX (another excellent foreign exchange company), and are slightly cheaper than TransferWise for larger amount. They are perhaps half as costly as WorldRemit except for smaller amounts or exotic currencies.

    How Long Will My Transfer Take?

    In most cases, after XE receives your funds, these will usually arrive at the destination bank account within one business day; however, some transfers might take as long as four business days. The precise timing will depend on which currencies are involved, the time of day you make your transfer and on the timing of national holidays.

    How Do I Pay for My Transfer?

    XE can only accept payment via bank transfer and in Australia, via BPay. Cards are not accepted.

    Minimum / Maximum Transfer Size

    XE has no restrictions. There’s no minimum transfer size, making it a great choice for small payments, but it can also handle massive sums — that means "unlimited" if booking transfers over the phone and USD500k if booking online.

    Is Money Safe with XE?


    The regulatory bodies under which XE operates ensure that the company meets high standards in its efforts to safeguard customer funds. In 2019, XE was regulated by FINTRAC (Canada), FinCEN (the US), ASIC (Australia) and the FCA (UK), among others.

    XE’s financial position is undeniably rock solid, especially since 2015 when XE joined the Euronet family — a multi-billion dollar, NASDAQ-listed company.

    XE makes use of Euronet’s payment technology which is trusted by over 200 financial institutions and some of the world's leading brands, including Google, Apple and Amazon.

    Customer Service

    XE’s customer support options are solid. The company’s multilingual staff will support you over the phone or via email in English, French and Spanish.

    XE offers toll-free and local phone lines for the US, Canada, the UK, Australia and New Zealand.

    How much can you send online with XE

    For your security, XE have limits on how much you can send in a single transfer online.

    Your region Online transfer limit
    UK & Europe ????   GBP 350,000
    United States ??  USD 535,000
    Canada ??  CAD 535,000
    Australia & New Zealand ????  AUD/NZD 750,000


    Sending Larger Amounts with XE

    Xe has a dedicated team ready to help you with large transfers. Since if you’re sending large amounts of money, you may need some extra assistance.

    If you send more than $50,000 USD a year (or local currency equivalent) you are eligible for this service.

    Here are just a few things the team can help you with:

    What Do Users Think of XE Money Transfer?

    XE is among the highest rated transfer services on popular review sites. On TrustPilot, for example, more than 85 percent of the 30,000 XE reviewers gave the service a 5-star rating.

    Most negative feedback is centred on the lack of an exchange rate guarantee (see Are Exchange Rates Guaranteed?’) and, in rare cases, on long waiting times for account approval.

    Visit XE Money Transfer

    Global XE Site

    XE Money Transfers – Guide and Review posted under: Guides  

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors or users should not be taken as a reference to buy or sell any financial product.