- Xe is well-rated in both expert and user reviews, with an average of 3.9/5 from 121 user reviews. Users appreciate the fast and reliable service for small to medium-sized transfers, often highlighting the ease of use and competitive rates. However, some express concerns about the exchange rates being less favourable compared to mid-market rates.
- Experts note that Xe is a solid choice for straightforward currency transfers, offering a user-friendly app and a wide range of currencies. However, they caution that it may not be the best option for larger transfers due to a lack of personal service and potential hidden fees in exchange rates.
- Users frequently commend Xe for its quick transfer times and overall reliability, with many stating that the service is easy to navigate. Nonetheless, there are criticisms regarding customer service responsiveness and the perception of higher fees compared to competitors, indicating a mixed experience for some users.
3/5
Pros:
Market fx
Cons:
Network
Xe Money Transfers Expert Review
Provider: Xe
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.
Pros
- Discounted exchange rates
- Good data and charting
- Good currency calculator
Cons
- Not suitable for large transfers
- No forwards or hedging
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Exchange Rates
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Available Currencies
(4)
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App & Platform
(4)
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Customer Service
(4)
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Research & Analysis
(3)
Overall
3.8Tell us what you think of this provider.
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 233 reviews)
| See Rates |
 | 130 | £1 | £50k | ✔️ | ✔️ | ✔️ | ✔️ | (Based on 123 reviews)
| See Rates |
 | 75 | £1 | £5k | ✔️ | ✔️ | ✔️ | ❌ | (Based on 31,967 reviews)
| See Rates |
| 98 | £1 | £500k | ✔️ | ✔️ | ✔️ | ❌ | (Based on 121 reviews)
| See Rates |
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