Review: XE Money Transfer

Enjoy fast, secure and low-fee international money transfers with global payments provider XE.

XE Money Transfer allows you to send money abroad to friends and family anytime. Online transfers are available 24 hours, 7 days a week. XE is a dedicated foreign exchange provider that offers competitive exchange rates to its customers.

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XE exchange rates and fees

XE offers low commissions on international money transfers. It instead turns a profit on the spread, which is the difference between the price you receive for a transaction and the price it actually costs XE to complete that trade.

Current fees on transfer thresholds of $500 are approximately $3, and this applies to equivalent currencies as well. The exchange rate you’ll end up paying is different from the one on XE’s currency converter tool, which is a live feed of the mid-market rate.

In some rare cases, you may also incur some third-party charges, such as fees from financial institutions for receiving wire transfers. You’ll need to check with your recipient’s bank to find out how much it will be.

1 - 1 of 1
Name Product Minimum Transfer Transfer Time Transfer Fee
XE Money Transfers - Ireland
Same day
XE has fast transfers with low fees and a range of foreign currency tools.

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Available currencies

XE transfers money in over 60 different currencies. Some of the more popular ones include:

  • CAD Canadian dollar
  • EUR Euro
  • GBP British pound
  • HKD Hong Kong dollar
  • NZD New Zealand dollar
  • PHP Philippine peso
  • TBH Thai baht
  • USD US dollar

What payment methods does XE accept?

You can pay for your international money transfer with XE using:

  • Bank transfer
  • Credit card
  • Debit card

You first need to confirm your transaction, then XE will provide you with its bank details. Unfortunately, XE doesn’t accept payments with cash or card.

What types of transfers can you make with XE?

XE offers a few different tools to help you make your money transfer, including:

  • Limit orders. Choose an ideal exchange rate and your transfer will automatically go through when it’s met.
  • Regular payments. Set up a recurring payment at a frequency that suits you.
  • Forward contracts. Lock in today’s exchange rate for a transfer in the future.
  • Business transfers. XE has a separate product specifically for businesses.

How long does a transfer with XE take?

Most international money transfers with XE should arrive within the day. However, certain transfer types may take longer. In Ireland, XE only accepts payments through bank transfer.

It’s important to be aware when you’re setting up the transfer that your bank may take extra time to transfer money to XE. XE will only start your money transfer once it’s received the funds from your bank account.

Transfers typically takeClock icon for transfer speed

Is XE safe to use?

  • Security and regulation: XE is government-regulated and holds its customers’ funds separate from the company’s own.
  • Established: Founded in Canada in 1993
  • Number of customers: More than 280 million* customers.
  • Reviews: Trustpilot gives XE a score of 4.2* out of 5, based on over 55,500 reviews.
*According to XE and Trustpilot on 13 December 2022.

XE is part of a group of other international money transfer companies called Euronet, which also own HiFX and Ria. XE itself doesn’t actually do your money transfers – its sister company HiFX does and this is regulated in countries including the UK, New Zealand and Australia.

Part of this regulation means XE has to keep its customers’ funds separate from its own. This means that should the company have any financial difficulties, your funds stay safe and secure.

How does XE make its money?

While XE charges low fees, it still makes money from each transfer because of the margin. That’s where the rate you’re quoted when setting up a money transfer is different from the live mid-market rate you’ll see on Google or Reuters. As a result, you should compare both the exchange rate the money transfer provider is offering, as well as any additional fees.

How to register an account

Signing up for an account with XE is simple and free. The following steps can help guide you through the process.

How to make a money transfer with XE

  1. Log in. You’ll land on your dashboard screen where you can navigate around your account details.
  2. Click “new transaction”. This button is at the top of your screen in the menu bar.
  3. Finalise how much you want to send. You’ll need to add in the currency pair and either how much you want to send, or how much you want the receiver to get. XE will then provide you with a quote the exchange rate you’ll receive.
  4. Add in the recipient’s details. This includes the recipient’s name, address, bank details and the reason for the payment.
  5. Select your payment method. For transfers from Ireland, you only have the option of a bank transfer.
  6. Confirm your transfer. Make sure to double-check the exchange rate in case it has changed. You’ll also want to make sure all of your recipient’s information is correct, as cancelling the transfer later on could be difficult.
  7. Transfer the funds to XE. XE will give you details so you can transfer money into its local bank account. This information will be on your PDF confirmation.
  8. XE sends your transfer. XE will complete the transfer once it receives the money. You can track this through your email updates or your online account.

What is XE’s background?

XE was established in Canada in 1993 by two high school friends and has since grown into one of the world’s leading currency rate providers. XE offers currency exchange tools and services to customers around the world.

Euronet acquired XE in 2015, where it joined other electronic payment and transaction companies. Other than XE’s Canadian headquarters, it has international offices in Australia, New Zealand, the UK and the US.

In a nutshell

  • Low fees and high sending limit. XE offers low fees and you can send $500,000 (euro equivalent) online.
  • Competitive rates. XE offers highly competitive exchange rates to customers. Compare XE’s rates against Irish bank such as AIB and Bank of Ireland to see how they stack up.
  • Currency specialists. Unlike banks, which offer a wide range of financial products and services, XE specialises solely in global currency markets.
  • Need to create an account. To get a quote on the current exchange rate, you need to create an account and sign in.
  • Limited cash pick-up options. Xe has just begun rolling out cash pickup across the world.
  • Slow transfer speeds. Sometimes it can take up to four business days.

How does XE compare to other money transfer services?

1 - 10 of 10
Name Product Minimum Transfer Transfer Time Transfer Fee
Wise (TransferWise) - Ireland
1-2 days
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
CurrencyFair - Ireland
1-2 days
Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
XE Money Transfers - Ireland
Same day
XE has fast transfers with low fees and a range of foreign currency tools.
Atlantic Money - Ireland
Atlantic Money - Ireland
Bank transfer
Revolut - Ireland
Revolut - Ireland
USD $0
Within minutes
USD $0
Make fee-free transfers in 27+ currencies from Monday to Friday.
WorldRemit - Ireland
Same day
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
TransferGo - Ireland
1 business day with standard delivery
Fixed fees by country of origination and 0–2.2% currency conversion fee
Key Currency - Global
Key Currency - Global
Same day on all majors, 1 day on exotics
Make same-day transfers in all major currencies across Europe.
Remitly - Ireland
1-5 days
EUR 2.99
Remitly has quick, affordable transfers around the world, with both express and economy options.
Panda Remit - Ireland
Within minutes
Special offer: Unlimited fee-free transfers & 5 EUR remittance coupon. Conditions apply.
Panda Remit sends money to 30+ countries with 24/7 customer support & exclusive exchange rates.

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