- Experts rate Xe as a solid choice for small to medium-sized currency transfers, highlighting its user-friendly app and competitive exchange rates. However, they caution that it may not be the best option for larger transfers due to limited personal service and potential hidden fees in the exchange rate.
- Across 121 user reviews on Good Money Guide, averaging 3.9/5, customers frequently commend Xe for its reliability, speed, and ease of use, particularly for small transfers. However, some users express dissatisfaction with the exchange rates, noting that they can be less favourable than mid-market rates, and a few have experienced issues with delayed transfers.
Xe Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.- Exchange Rates4.0
- Available Currencies4.0
- App & Platform4.0
- Customer Service4.0
- Research & Analysis3.0
Pros
- Discounted exchange rates
- Good data and charting
- Good currency calculator
Cons
- Not suitable for large transfers
- No forwards or hedging
See full expert review
Our verdict
Xe started off life as an online currency conversion calculator, then started flogging the data to currency transfer providers, then in 2002 decided to compete with all it’s customers and offer online money transfers (which it provides through HiFX in the UK. At the time, HiFX was one of the largest money transfer providers in the UK, but as Xe.com is one of the largest currency conversion calculators in the world (in the top 500 websites by traffic) HiFX decided to rebrand to Xe.
Is Xe a good international money transfer app?
Xe is a good option if you are looking for cheap no no-frills, small to medium-sized currency transfers from a trusted and well-established brand. However, if you have a large amount of currency to transfer and need personal service, you are better off with a currency broker.
I’ve always liked Xe.com, the website has always been an excellent resource for currency information. But ever since they were bought by Euronet under their HiFX brand in 2017 you can now use them for international currency transfers. They offer loads of currencies, a slick app, and the ability to send money by debit, credit card and bank transfer to other bank accounts, to be picked up as cash or to a mobile wallet. As international payments have grown in popularity you can also use them for business international payments.
Is Xe cheap for international money transfers?
I’m not sure Xe is as cheap as it used to be. When I was testing the app it looks like Xe exchange rates are around 1% from the midmarket. When I requested some quotes, the midmarket was 1.3294 for GBPUSD, and Xe quoted me 1.3186. Doing it the other way round, the USDGBP rate was 0.7522 and Xe quoted 0.7458 (about 0.85%) away from the mid-market.
It’s a bit frustrating that money transfer apps are still hiding fees in the exchange rate market up (read my guide on how to compare exchange rates here). Especially when it says there is no send fee. Granted, “Send Fee” and “Exchange Rate Market Up” are two different things, but it still stinks.
Is Xe safe for money transfers?
Yes, we rate Xe.com as a safe way to send money abroad as they have been established since 1995, owned by a larger parent company and are authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, registration 462444, for the provision of payment services.
Who owns Xe.com money transfers?
Xe.com is ultimately owned by Euronet Worldwide Inc, which is a public company listed on the NASDAQ with the ticker code EEFT. Xe.com is managed by HiFX, which acquired XE.com in 2017. Prior to this HiFX only offered money transfer services for business, but the acquisition enabled them to offer individual currency transfers. You can see thier share price and how much they are worth below.
Xe Customer reviews
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 121 reviews
- Excellent36%
- Very good26%
- Basic30%
- Poor5%
- Bad2%
Read customer reviews
Dont use now
Dont use now
Reasonable rates abd transfer process.
Reasonable rates abd transfer process.
Great App, reasonable pricing.
Great App, reasonable pricing.
n/a
n/a
Not used
Not used
Efficient and good rates
Efficient and good rates
5/5
4/5
Pros:
simple for transfers
Cons:
na
3/5
4/5
Pros:
Ease of use
Cons:
Works well for me
5/5
Pros:
Ravi
4/5
Pros:
Layout
5/5
Pros:
Easy to use, reliable, cost effective
Cons:
Even tighter spreads
5/5
Pros:
ease of use
Cons:
N/a
4/5
Pros:
app
3/5
Pros:
Rarely used
Cons:
D ok my know
4/5
3/5
Pros:
ease of use
Cons:
currency pricing
5/5
Pros:
Quick currency conversions
Cons:
Nothing
5/5
Leave a review
Xe Alternatives
Xe’s closest competitors are Wise and Remitly for small transfers. You can compare them against other money transfer apps below:
| Money Transfer App | Currencies | Min | Max | Bank Transfer | Credit Card | Debit Card | Cash | Customer Reviews | More Info |
|---|---|---|---|---|---|---|---|---|---|
 | 50 | £1 | £1m | ✔️ | ✔️ | ✔️ | ❌ | (Based on 237 reviews) | See Rates |
 | 130 | £1 | £50k | ✔️ | ✔️ | ✔️ | ✔️ | (Based on 123 reviews) | See Rates |
 | 75 | £1 | £5k | ✔️ | ✔️ | ✔️ | ❌ | See Rates | |
 | 98 | £1 | £500k | ✔️ | ✔️ | ✔️ | ❌ | (Based on 121 reviews) | See Rates |
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
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