XE Trade International Money Transfers

Information verified correct on December 4th, 2016

XE Trade Money TransfersEnjoy competitive exchange rates and minimal fees when you transfer money overseas with XE.

If you need to send money to friends and family abroad, XE can help with its XE Trade service that allows you to transfer money online 24/7. With multiple payment methods to choose from, XE offers a range of options when you need to send money overseas. As a dedicated foreign exchange provider, XE can always offer competitive exchange rates to its customers.

With free transfers available to more than 35 countries, XE aims to make international money transfers as simple and affordable as possible.

Who is XE?

XE offers a wide range of foreign exchange tools and services to customers in Australia and across the globe. Founded in Canada in 1993, XE has grown into one of the world’s leading providers of foreign exchange solutions. As a Top 400 website, it does business with millions of personal and business customers around the world.

Since 2002, XE Trade has handled in excess of $10 billion worth of global payments. Based in Toronto, it takes the hassle out of overseas money transfers. It’s quick and easy to sign up for an XE Trade account and you can then receive a quick online quote for your transaction. It also uses the highest available level of browser encryption to ensure that all transfers are completely secure.

As well as international money transfers it also offers a currency converter, currency charting and a range of other currency data to help individuals and businesses around the world.

How can you send money overseas with XE?

Sending money overseas with XE Trade is simple and straightforward. The first step is to sign up for an account online, which is a quick process that requires you to provide details including your name, country and email address. In order to actually place transactions you will also need to provide two forms of ID and your full legal name.

You can then examine live currency exchange rates and enter the details of the amount you would like to send and where you wish to send it. Next, review the details of your transaction and lock in an exchange rate.

You can pay for your XE international money transfer from your bank account using the following methods:

  • Wire transfer
  • Internet Payment
  • Electronic funds transfer

Other payment options are also available in other parts of the world, but cash and credit card are not accepted as payment methods. Your recipient does not need to have an account with XE Trade in order to access the funds you send, and they receive the money in their bank account via whichever payment option you choose.

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What other products do they offer?

  • Currency converter. Want to know what the current exchange rates are? This easy-to-use tool can help.
  • Currency charts. View how two currencies have performed against each other for a period of up to 10 years.
  • XE Currency Data API. This product gives business around the world access to accurate exchange rates for more than 160 currencies.
  • IBAN Calculator. Work out what any International Bank Account Number (IBAN) means with this handy calculator.
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What are the pros and cons of using XE for foreign exchange?

Pros

  • Currency specialists. XE specialises in all things currency, so you know you’re dealing with experts when you need to send money overseas.
  • Payment options. Multiple payment options allows you to choose the transfer method that best suits you and your recipient.
  • No fees. XE does not charge any fees or commissions on the international money transfers it processes.

Cons

  • No credit card transfers. Unlike many other money transfer providers, XE does not offer the option of paying for a transfer with your credit card.
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Frequently asked questions

Is there an app which I can use to stay up-to-date with exchange rates?

Yes, XE offers several apps to help make it as easy as possible for you to stay abreast of market developments. The XE Currency App is available for Android, iPhone, iPad, Blackberry, Blackberry 10, Windows Phone, Windows 8 and Firefox. This handy app has been downloaded more than 25 million times worldwide.

How long do transfers take to process?

The exact amount of time it will take for your funds to arrive in your recipient’s bank account may vary depending on your transfer method and where you are sending the money. For example, wire transfers typically take from 1-3 business days while electronic funds transfers take between two and four business days to arrive.

Are there any countries to which XE will not transfer funds?

XE is not permitted to handle transfers involving Belarus, Myanmar, the Ivory Coast, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, or the Taliban Zimbabwe.

Does XE charge any transaction fees or commissions?

No, there are no transaction fees to worry about when you transfer funds with XE. Instead of charging commissions, this provider makes its money on the spread it offers to customers.

Can I pay for a transfer using my credit card?

No. XE does not offer this option because the merchant fees charged by credit card companies would greatly increase the cost of your transaction.

Which currencies can I trade?

XE allows you to convert money into most international currencies You can convert from 24 major international currencies including the Australian Dollar, United States Dollar, New Zealand Dollar, Great Britain Pound, Swiss Franc, Japanese Yen, Euro and Canadian Dollar. A full list of currencies is available through the XE website.

XE offers customers a convenient way of transferring money across international borders with minimal fees and flexible payment options.

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