HiFX international money transfer review – November 2018

HiFX offers competitive exchange rates and no fees when transferring money overseas.

Our pick: XE Money Transfer

XE specializes in a wide range of foreign currency solutions and offers an affordable solution when you need to send money overseas.

• Send money to 170+ countries.
• Competitive exchange rates that are often better than banks.
• Transfer up to $500,000 online.
• See exchange rates in real-time.

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When you need to send money overseas, the last thing you want to deal with is navigating a potentially complicated and expensive process.

Sending money with HiFX is simple and cost-effective. HiFX offers you the ability to convert funds into over 120 currencies and transfer them internationally at the touch of a button, and does so with no fees and competitive rates.

Pay no fees and get excellent customer service on your international transfers

HiFX offers competitive exchange rates and charges absolutely no fees. And their reputation for great customer service gives you the peace of mind knowing help is there if you need it.

• Fast and easy. Make transfers online 24/7.
• Peace of mind. HiFX’s parent company, Euronet, does business with some of the world’s largest tech companies, including Apple, Google and Amazon.
• Customer service. HiFX is proud of its excellent customer service and provides the tools and answers you need to make a successful transaction.

How much does it cost to send money with HiFX?

HiFX charges absolutely no transfer fees, so you’ll always know exactly how much you’re paying. However, charges may occasionally be applied by a third party bank when transferring the funds to HiFX or before the funds arrive in the recipient account.

Competitive foreign exchange rates

HiFX boasts bank-beating exchange rates. Their exchange rates are linked to the live foreign exchange markets. When the markets are open, the exchange rate you are offered will often fluctuate right up until the moment you confirm your transaction. Your exchange rate is only fixed once you’ve confirmed your transaction.

What types of transfer can I make?

You are limited to bank-to-bank transfers only with HiFX.

Pros and cons

How do I use HiFX?

To send money with HiFX, you need to create a free account, providing:

Your personal and contact information.
Your date of birth.
Your bank account information.
A valid driver’s license, passport or Social Security number.
Your transfer amount and currency you’ll be transferring it to.

How to make international transfers with HiFX

If you feel HiFX could be a useful service to you, you can carry out a transfer easily.

• Register. First you’ll need to sign up, which is free and can be done at any time of the day. You can register by clicking the green “Go to Site” button on the right. You will also need to provide identification documents as well as a document certifying your address.
• Get a quote. After you’ve registered, tell HiFX how much you want to send and where to. They can help suggest different ways to carry out your transaction.
• Give your recipient’s details and when you’d like to pay them. The next step will require you to let HiFX know who you’re transferring to and when, and also will require you to provide a security payment.
• Send HiFX your transfer funds. You’re now ready to send HiFX your money and begin the transfer.
• Track your payments. You can now sit back and track your payment to ensure that it reaches its destination.

Steps to transfer money internationally with HiFX

• Step 1. Click Go to Site.

  Click our green Go to Site button to be taken to HiFX’s website.

  

• Step 2. If this is your first time using HiFX, create a free account by clicking “Join Now” in the upper-right corner.

  Choose whether you’re creating a personal account or a business account. You cannot initiate transfers until HiFX’s financial experts approve your account.
  

• Step 3. Select the country you live in from the drop-down menu, and then enter your email address.

  Create a unique password for your account and choose a security question to answer if you ever need to reset your password. Click “Continue.”
  

• Step 4. Enter your home address, phone number and date of birth. Click “Continue.”

  

• Step 5. Enter an estimate of the amount of money and number of transfers you expect to transfer in the next 12 months.

  Select the country from which you will be sending money and how you learned about HiFX. Click “Continue.” Your application to transfer money with HiFX is now complete. HiFX will email you within 24 hours with information about your application and initiating transfers. Once accepted, you can begin sending money by entering your recipient’s name and bank account information and your bank account information for payment.
  

What happens next?

• Once you have confirmed the rate, you can not cancel or change any details of the transaction. Please check the details carefully before confirming the transaction.
• HiFX will email you notifications to keep you up to date on the progress of your transfer until delivery to your recipient within one to four business days.
• You can track your transfer online 24/7. If there’s any delay, contact HiFX from 6 a.m. to 6 p.m. Pacific standard time at 844-832-1367 or anytime at info@hifx.com.

Bottom line

HiFX is definitely worth considering when you need to send a fast and secure international money transfer, but make sure to compare a range of transfer options before choosing the right provider for you.

Transfer money all over the world

Frequently asked questions

• Can I use cash to pay for a transfer with HiFX?

  Unfortunately, HiFX only accepts bank transfers.

• Is HiFX safe?

  HiFX takes many different measures to ensure your money is safe. Some of these measures include VeriSign, which is an online security system used by 97% of the world’s top banks, and your funds are always held in segregated client accounts.

• What is the exchange rate I receive based on?

  HiFX will offer you a competitive rate based on how much you’re transferring, what currency you’re transferring to, and a number of other factors, including the market exchange rate at the time.

• How does HiFX make their money?

  HiFX makes their money through what is known as “the spread.” This basically refers to the difference in the buying and selling prices of a currency, which is the same way a regular bank or currency dealer makes a profit.

• What if my HiFX money transfer hasn’t yet arrived to my recipient?

  If your transfer hasn’t arrived within four days, call HiFX at 1-844-832-1367.

• How safe is a money transfer?

  When processed through a reputable bank or company, your funds are safely tracked until in the hands of your recipient. And if you’re sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.