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    XE Money Transfer – BER 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.

    Review Updated: Jul 02, 2021

    Exchange Rates 5
    Customer Service 4
    Ease of Use 3


    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 is among the largest transfer specialists in the world.

    XE’s foreign exchange margins are razor thin, and as such it is currently offering extremely cheap transfers to bank accounts in more than 100 countries (you’ll need to sign up via a BestExchangeRate links to get XE’s most exclusive rates).

    XE allows customers to book transfers online on a multi-language platform and over the phone, and in most cases funds will be received in recipient bank accounts within a single working day.

    XE is suitable for both small and large payments and is sufficiently sophisticated for business customers, who can benefit from FX forwards and options, mass payments and even credit facilities to accommodate deliverable hedging.

    XE doesn’t guarantee exchange rates seen on screen at the time bookings are made, which means that received funds could be slightly different to what’s expected. Limit orders are available to partially counter this problem.



    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 TransferWise and are slightly cheaper than OFX (another excellent foreign exchange company), and they are perhaps half as costly as WorldRemit.

    Are XE’s Exchange Rates Guaranteed?

    No, XE doesn’t guarantee the exchange rate seen on screen at the time a transfer order is created. This is a small negative for the service, since it means that received funds could be slightly different to what’s expected.

    When a particular exchange rate is needed, XE’s limit orders are useful. XE literature sometimes calls these “market” orders (they are technically “market if touched” orders) and customers frequently use the term “putting a bid in [for a rate]” to describe this approach.

    XE Money Transfer Rates & Fees - Compared

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    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.

    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.


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