Who Can Benefit By Using XE Money Transfer?
You may benefit by turning to XE Money Transfer if you live in North America, Europe, or Australia. This international money transfer company provides services for individuals and businesses alike. Business clients get to choose from different currency hedging tools. You may use the XE Money Transfer online platform to transfer up to U.S. $500,000.
You may use the XE.com website or the company’s apps for mobile devices to make a transfer at any time, from anywhere. Some of the different circumstances in which you may use the services of XE Money Transfer to send money overseas include:
- You wish to send money to a family member or a friend via bank transfer
- You need to pay tuition fees as an overseas student
- You wish to purchase a home in a foreign country
- You need to pay overseas suppliers or employees
- You wish to make a charitable donation to an overseas organization
At a Glance – XE Money Transfer Services
XE.com is an online platform based out of Ontario, Canada, and the company also has a subsidiary office in California, the U.S. Website access comes in multiple languages as does online and over the phone support. If you compare currency exchange rates provided by XE Money Transfer with its competitors or interbank rates, you will notice that the rates on offer are highly competitive in respect of transferring money overseas. The company does not charge any additional fees for overseas money transfers or set a minimum transfer amount.
You need to make your payment using a bank transfer with your bank details some of which may be available on your debit card, and this company transfers funds only to bank accounts. The use of credit cards is prohibited. Take a look at the corresponding table to get a quick indication of what this company has to offer.
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
Details About XE Money Transfer Process
Whether or not you should use XE Money Transfer to send money overseas to a recipients account depends on different factors. This XE Money Transfer review is divided into multiple sections, and it addresses all the aspects that require your attention.
You may register with XE Money Transfer from any of the following countries:
|Isle of Man||United States|
The company trades in 60 currencies and gives you the ability to send global payments to more than 170 countries. The currencies on offer include:
|HKD||Hong Kong Dollar|
|NZD||New Zealand Dollar|
|SAR||Saudi Arabian Riyal|
|ZAR||South African Rand|
XE Money Transfer does not charge any fees to receive money when transferring funds overseas. You do not have to pay any account opening or monthly account keeping fees. However, some third-party charges might apply when you make payments to XE or before recipients receive transferred funds into their bank accounts.
Most transfers carried out by XE Money Transfer go through on the same day. The company provides a payment date to you as part of the transaction flow. If XE receives your payment on time, the provided payment date is the earliest it can process your transfer.
- Spot transfers. If you want to send money in a hurry, you can go the spot transfer way. Here, the existing exchange rate applies on your transfer and XE processes your transfer as quickly as possible.
- Limit orders. With a limit order, you may buy or sell a currency when the exchange rate reaches a desired level. When the target rate is achieved, you receive a contract note via email and then need to make your payment.
- Forward contracts. Business clients can opt for forward contracts that let them lock in exchange rates for up to 12 months.
- Forex tools. XE.com gives all its users free access to a currency converter, currency charts, historical currency rates, a travel expenses calculator, an IBAN calculator, as well as rate alerts. It also provides a currency converter widget that other websites may use.
- Payment options. You need to pay using a bank transfer via online or phone banking. Australian residents may pay for their transfers using BPAY. XE Money Transfer does not accept payments via debit and credit cards yet.
- Apps. XE.com provides apps for Android, iOS, BlackBerry, Alexa, Slack, and Google Assistant.
XE Money Transfer Exchange Rates
If you compare the foreign exchange rates offered by XE with those offered by most banks, you will see that the former performs better consistently. XE Money Transfer exchange rates are linked to live forex rates. If you carry out a transfer when the markets are open, the rate will fluctuate until you confirm the transaction. If you carry out a transfer when the markets are closed, there is no fluctuation with the exchange rate you get.
The mid-market rate that XE.com displays on its website is not the rate that will apply on your transfer. The company provides free rate alerts.
Coupons Offered by XE Money Transfer
As of now, there are no XE Money Transfer coupons on offer.
Signing Up With XE Money Transfer
You may sign up with XE Money Transfer as an individual or a business. The online application takes no more than a few minutes to complete in order to start transferring funds. The information you need to provide as an individual include:
- Your complete name
- Your email address
- Your phone number
- Your residential address
- Your Social Security Number or Individual Tax Identification Number
- Details from a government issued identification document
XE Money Transfer does not accept driver’s licenses as a proof of identity because of regulatory obligations.
As mentioned in other XE Money Transfer reviews, setting up an overseas money transfer with this company is easy. You may carry out a transfer at any time, using the company’s website or app. This is what you need to do:
- Login to your account
- Select the currencies you want to pay in and transfer
- Enter the amount you wish to transfer
- Provide the recipient’s bank account details
- Confirm the payment method
- Accept the provided quote
Once XE Money Transfer receives your payment, it sends you an email. It sends you another email when it releases the payment. The actual turnaround time tends to vary from one to four business days, depending on how quickly the recipient bank processes the transfer.
Additional Information & Key Features
- XE Money Transfer is registered with and regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
- In the U.S., it is registered with the Financial Crimes Enforcement Network (FinCEN).
- It is registered with the UK Financial Conduct Authority (FCA).
- In Australia, is operations come under the purview of the Australian Securities and Investments Commission (ASIC).
- It is registered with the New Zealand Financial Markets Authority (FMA).
- Access to the XE Money Transfer website comes in English, Spanish, French, Portuguese, Italian, Swedish, Chinese, Japanese, and Arabic.
- The XE.com website relies on enterprise-grade security to safeguard customer information.
- The company donates $1,000 annually to one charity that each of its team member supports.
If you look at XE Money Transfer reviews written by the company’s previous customers, you will see that it rates well on this front. On Trustpilot, XE Money Transfer gets an average score of 9.2 out of 10. If you have any questions about the company’s money transfer process, you may refer to the frequently asked questions found online. You may also turn to the learning center, the XE blog, or its online forum for different kinds of information.
Here are contact details of XE Money Transfer. You may seek assistance in English, Spanish, or French.
|Toll Free Number||Local Number|
|The U.S. and Canadafirstname.lastname@example.org|
While you should compare currency exchange rates before sending money overseas, aspects such as any hidden costs, the fees you need to pay, the processing time of transferring the funds, and customer service levels also require your attention. Besides, using promotional offers may result in additional savings.
XE Money Transfer Review Updates
XE Money Transfer Reviews
- Account Setup
- Transaction Fees
- Ease of Use
- Customer Service
XE began operations as an information-only website and started offering international money transfer services in 2002. Depending on where you live, using XE Money Transfer services may lead to monetary savings because of its competitive exchange rates and no transfer fees. It accepts customers from a host of countries, and lets you send money to over 170 countries. This XE Money Transfer review sheds light on all the aspects you need to consider before using the services of this company. XE began operations in 1993, as Xenon Laboratories. It registered the domain name “XE.com” in December 1994, with XE representing xenon’s atomic symbol. Headquartered in Canada, the company officially changed its name to XE.com Inc. in April 2001. XE launched XE Trade, its overseas money transfer service, in 2002. The rebranding of XE Trade to XE Money Transfer took place in 2016. The company was acquired by Euronet Worldwide, Inc. in July 2015. XE.com provides a variety of foreign currency exchange related services. Some of these include its online currency converter, IBAN calculator, currency charts, and international money transfers. According to XE, as of 2016 its website attracted more than 280 million unique visitors each year. This company has been selected as Greater Toronto’s Top Employer by the Mail and the Globe for five years in a row. In early 2013, Alexa, an independent ranking site, ranked XE.com in the top 500 of all websites globally by traffic. XE Money Transfer is registered with and regulated by relevant financial institutions in the U.S., Canada, the UK, Australia, and New Zealand. It operates dedicated websites for these regions. As with other good XE Money Transfer reviews that you may find online, this one delves into all the aspects that you need to consider before making a decision.