XE Money Transfer Review - Fast transfers with no fees

XE Money Transfer Logo

XE Money Transfer enables its customers to send money in 60 currencies to over 170 countries. It boasts near-instant transfers, competitive exchange rates, and no fees. Customers of XE Money Transfer can send money 24/7 and, thanks to its mobile app, can also send money on the go from anywhere in the world.

What is XE Money Transfer?

XE Money Transfer is a Canadian founded money transfer service. Its founders, Steven Dengler and Beric Farmer established it in 1993, and by 1995 it had become the worlds most popular currency website.

Fast forward to the present day, and XE Money Transfer moves more than $115 billion worth of money each year for over 100,000 people and 6,000 businesses.

Customers of XE, enjoy access to its website and mobile app to send money online to friends and family throughout the world, with most transfers arriving instantly directly into the recipient’s bank accounts, with no need to visit a branch or office. What’s more, XE doesn’t charge any fees for using its service except for the exchange rate it offers, which means its customers can benefit from one of the cheapest methods of transferring money, beating the fees and charges often found with leading high street banks.

Is HiFX the same as XE Money Transfer?HiFX was a money transfer service that was acquired by XE’s parent company, Euronet in 2014. In 2019, Euronet announced that HiFX was to merge with XE and be rebranded ‘XE Money Transfer’.

Is it safe to transfer money with XE?

XE Money Transfer is regulated by the Financial Conduct Authority (FCA) as an Authorised Payment Provider, which means it must follow and adhere to the FCA’s strict rules and regulations to safeguard your money.

Companies that are regulated by the FCA are required to hold your money separate from the company’s main funds. Meaning, if XE were to collapse, there is a high chance that you will receive your money back.


XE Money Transfer reviews are incredibly positive and it has received numerous awards for its services. On review site, Trustpilot, over 35,000 current and past customers have left it a review.

XE Money Transfer has an average Trustpilot score of 4.7/5.

“Perfect service, easy to manage, reliable and safe, quick from start to finish. Very happy and will use again often.”

- David Stiff Trustpilot

As of February 2020, current and existing users of XE rate it:

  • Excellent - 86%
  • Great - 10%
  • Average - 2%
  • Poor - 1%
  • Bad - 1%

“Easy, quick and convenient way to transfer funds between international bank accounts. Best thing is, that there're no fees involved :)”

- Simone Trustpilot
Scales balancing a green tick and a red cross

Out of all the reviews on Trustpilot, only 2% of users rated XE as poor or bad, and these negative reviews mostly centre around isolated incidents, such as delays with money transfers being completed.

Delays with payments are often due to XE requiring additional proof of ID from either the sender or recipient. Although this can be frustrating, especially if the transfer is urgent for either the sender or recipient, it is a necessary step that XE, and other money transfer services, sometimes need to take in order to comply with regulations laid out by the Financial Conduct Authority to combat money laundering and fraud. In most cases, as soon as the ID is provided, the transfer is processed as normal. XE always notifies the sender if it requires additional information.


Unlike some other money transfer companies, XE does not charge a fee to its customers to send money abroad or within the UK, nor to recipients for receiving money.

But how does XE make money? Well, although it offers extremely competitive exchange rates, it adds a small markup to the exchange rate. Other money transfer services that charge customers a fee per money transfer claim that they do not have any additional fees, but you can’t be 100% sure that they also don’t mark up their exchange rate, so in this respect, XE Money Transfer could work out as the cheaper option.

Selectra recommends shopping around and comparing quotes from each money transfer service to ensure you are getting the most for your money. Luckily, Selectra has information on all of the leading money transfer services for you to compare and find a money transfer quote.

Although XE does not charge any fees, the recipient’s bank may deduct a fee from their bank account for crediting the payment. This fee, if applicable, is set by the bank and is out of XE’s control. You and your recipient can read about your bank’s fees in advance to check if it will charge a fee to receive a transfer.

How do I send money with XE?

It is easy to send international transfers with XE, 24 hours a day, 365 days a year. The majority of transfers are processed immediately and can arrive in the recipient’s bank account in seconds, depending on the country you are sending money to, the country you are sending money from, and the time of day you make the transfer.

The person you are sending money to does not need to be a customer of XE to receive a money transfer, as the payment is deposited directly into their bank account.


Before you can make a transfer with XE, you will need to register for an account on its website. The process is straightforward and should only take you a couple of minutes.

  1. Visit the XE Money Transfer website
  2. Click ‘Join Now’ on the top right of the screen
  3. Enter your email address and create a password
  4. Enter the confirmation code XE sent to your email address
  5. Enter your personal details
  6. Approximately, enter the total amount you expect to transfer within the next 12 months

XE Money transfer will then create your account. This can take up to 60 seconds. Once complete, it will inform you that your account has been successfully set up and will display your transfer limit.

Why do I have a transfer limit?The main reason is security. XE Money Transfer needs to ensure people don’t use its service to launder money or use it for fraudulent purposes and so it sets a limit on the number of transactions you can make and the amount you can send within a set period.

You can increase your transfer limit by providing additional proof of ID, such as

  • Passport
  • National ID Card
  • Photocard Driving Licence


Once registered, you can log in to your XE Money Transfer account to send money, track an existing transfer, view your transaction history, and manage your account.

  1. Visit the XE Money Transfer website
  2. Click ‘Log In’ on the top right of the screen
  3. Enter your email address and password
  4. Enter the verification code that XE sends to your registered mobile phone number

I have forgotten my login detailsIf you have forgotten your XE Money Transfer password, click ‘Forgot password’ on the log in page and enter your email address. XE will email you a verification code so that you can reset your password.

Mobile app

In addition to its website, customers of XE Money Transfer can download the free XE Mobile App to their phones to transfer money on the go, access their account details, and view their transaction history.

The XE Money Transfer app is available to download for free from the App Store and Google Play Store for iOS and Android devices, where it is rated 4.6/5 and 4.5/5 respectively.

How fast is XE Money Transfer?

The majority of XE Money Transfers are completed the same day by bank transfer. XE will provide you with an expected delivery date when you set up the transfer on its website or mobile app. Recipients typically receive their XE money transfer within 1 - 4 business days.

XE Money Transfer will automatically notify you via email and SMS once your transfer has been sent. You should then allow 1 - 4 business days for the payment to land in the recipient’s bank account.

Transfer tracking

Once you have sent a money transfer, you can track its progress on the XE website or mobile app. You may need the transaction number, which XE should have confirmed to you via email when you made the transfer.

XE Money Transfer vs TransferWise

XE Money Transfer and TransferWise are arguably two of the biggest money transfer services available in the UK, providing some of the best exchange rates. They offer a very similar service with a few differences, such as the payout delivery methods available and the types of fees they charge for using its services.

Read more about TransferWise and discover its range of features and benefits.

Contact XE Money Transfer

If you have an issue or question about your XE Money Transfer account, you should first check out its website. It is packed full of FAQs which may answer your question. If you can’t find a solution and need to contact XE Money Transfer, you can do so using the below contact information.

XE Money Transfer Contact Information
Contact Method XE Money Transfer Contact Information
Phone 00 800 932 66400
Email transfers@xe.com
Post XE Money Transfer
Maxis 1, Western Road
RG12 1RT
Updated on

The services and products mentioned on this website may only represent a small selection of the options available to you. Selectra encourages you to carry out your own research and seek advice if necessary before making any decisions. We may receive commission from selected partner providers on sales of some products and/or services mentioned within this website. Our website is free to use, and the commission we receive does not affect our opinion or the information we provide.