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Xe Money Transfer review

  • Zak Killermann's headshot
Xe
Fastest Transfer Speed
Within minutes
Minimum Transfer Amount
$1
Maximum Transfer Amount
$500,000

Summary

Xe allows you to transfer money to over 170 countries in 60 currencies and benefit from live exchange rates.

  • Good for low fee transfers - small flat fee for amounts below $500.
  • Not so great for speed - transfers can take up to 4 working days.

Pros

  • Low fees and bank-beating exchange rates
  • Send money securely to 200+ countries
  • No min or max transfer amount limits

In this guide

  • Review
  • Frequently asked questions
  • Your reviews
  • Ask a question

Our Verdict

Through XE’s extensive network, you’ll be able to transfer money to more than 170 countries in 65 currencies. And there’s only a small fee to pay on transfers below $500, which you’ll be shown upfront. But pay close attention to transfers without a fee and check you’re ok with the exchange rate markup as you won’t find the mid-market rate being used on any of XE’s transfers or its online calculator.

Delivery speeds tend to be slower than competitors, with funds taking between one and four working days to reach your recipient. And if your recipient doesn’t have a bank account, you have the option of sending a cash pickup but this is only available via the mobile app.

Why should I consider Xe Money Transfer?

  • Low fees. Xe charges a small flat fee for amounts below $500.
  • No sending limit. Transfers placed over the phone have no limit, but online transfers are limited to $500,000 per transaction.
  • Custom alerts. Create currency pair alerts by email to receive notifications when your desired exchange rate target is met.
  • Worldwide network. Send money to more than 170 countries from six different regions around the world.
  • Forward contracts. Xe has the option to “buy now, send later” option which allows you to agree your rate in advance and send your transfer at a specified date in the future.

What to be aware of

  • No mid-market rate. Xe transfers do not use the mid-market rate, so customers must pay attention to the transfer rate when sending money. Also, XE’s calculator doesn’t quote the exact rate you get for your transfer
  • Slow transfer speeds. Transfers can take up to 4 working days, depending on the efficiency of your recipient’s bank.

How much are Xe Money Transfer’s fees?

Xe charges a $3 fee for all international money transfers below $500 and no fee for any transfers above that amount. You’ll be notified if your money transfer is subject to a small fee before you send it. You may also come across third-party charges with your transfer, although this is rare. This is when your recipient’s bank charges fees for receiving wire transfers.

How are Xe Money Transfer’s exchange rates?

Like many other money transfer providers, the exchange rate you receive when making a transaction with Xe is different from the mid-market rate. Exchange rates vary, but are typically between 0.5% and 2%. Xe specializes in a wide range of foreign currency solutions and allows customers access to live exchange rates that reflect market conditions. These rates change regularly throughout the day to keep pace with any fluctuations in the market and are typically better than the rates offered by major banks. Xe also offers forward contracts. This is when you agree to a rate in advance and then your transfer is made on a specified date. This can help to lower transfer costs as you can lock in your transfer when rates are more favorable.

What are the ways I can send money abroad with Xe Money Transfer?

You can send money to your recipient through Xe Money Transfers by either a traditional bank transfer or as a cash pickup option. Keep in mind that the cash pickup option is only available on the Xe app.

How to send money transfer with Xe Money Transfer

To send a money transfer with Xe you will first need to create an account. You can do this via its website or through its app. Xe recommends that you use its app for transfers if possible, as this has more transfer options.

What are Xe Money Transfer’s payment options?

You can pay for your Xe Money Transfer by bank or wire transfer, credit card or debit card. Xe does not accept payments by cash, cheques or bankers drafts. If you wish to pay for your transfer by card, this can only be done online or through the app. Xe is unable to accept card payments over the phone.

How long does an international transfer with Xe Money Transfer take?

Once you have confirmed your money transfer, you’ll see an expected payment date – although this is the earliest estimated time your funds can be sent. Once Xe has received your payment, it will take between 1 and 4 working days for your money to arrive at your chosen destination.

Transfers typically takeClock icon for transfer speed

1-4 days

Is Xe Money Transfer safe to use?

Xe Money Transfer is operated by Xe, a large and well-known international foreign exchange rate provider. Xe is licensed and registered with:Xe

  • Department of Financial Services of the State of New York
  • The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Xe is part of Euronet, alongside Ria Money Transfers. Euronet is one of the largest money transfer businesses in the world and has partnerships with hundreds of global companies, including Visa, MasterCard, PayPal, Google and more.

How does Xe Money Transfer compare to other money transfer services?

If you want to see how Xe Money Transfer compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.

How much will I pay to send money with Xe Money Transfer?

Xe charges a $3 fee for all international money transfers below $500 and no fee for any transfers above that amount. You’ll be notified if your money transfer is subject to a small fee before you send it. It turns most of its profit on the spread, which is the difference between the price you receive for a transfer and the price it actually costs Xe to complete it. When sending a money transfer with Xe, you’ll pay:

  • Fee for small transfers. You’ll need to pay $3 for transfers under $500.
  • Mid-market markup. Xe’s exchange rates vary, but are typically between 0.5% and 2%.
  • Third-party charges. In rare cases you may incur a third-party charge, such as bank fees for receiving wire transfers.

How does Xe make money?

In addition to the small transfer fee, the exchange rate you receive when making a transaction with Xe is different from the mid-market rate. It’s common practice for money transfer services to use a similar spread, and it helps Xe make a profit. Xe specializes in a wide range of foreign currency solutions, and allows customers access to live exchange rates that reflect market conditions. These rates change regularly throughout the day to keep pace with any fluctuations in the market, and are typically better than the rates offered by major banks.

1 - 12 of 12
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
Xe
Within minutes
From $0
Xe has fast transfers with low fees and a range of foreign currency tools.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
WorldRemit - 4free
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
PayPal (business)
Within minutes
$0
Provides business solutions for small business owners in over 24 currencies worldwide. Try 3 months free of Spotify Premium when you sign up with PayPal.
Wise (TransferWise) International Money Transfers Business
Within minutes
From $8.16
Enjoy high maximum transfers into more than 40 currencies, while saving up to 90% over local banks.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.