Xe and Western Union are two well-known financial services, and one of them offers the fastest option — but not always the cheapest. We compare these money transfer giants side by side to find out which one offers the best value for your money.
Xe charges a small flat fee of $4 for transfers below $500 but the fee is waived above this amount.
Western Union
Western Union’s fees vary depending on the currency, payment method and the transfer amount. For example, cash pickups generally have higher fees.
It’s important to get a price estimate using the Western Union calculator before committing so you know the exact fee.
Winner: Xe
Xe doesn’t charge any fees above $500, making it the clear winner in this category.
Let’s crunch the numbers: Sending $1,000 and $3,000 to Japan
Let’s compare a $1,000 and $10,000 transfer to the UK to see which provider is the better choice and if the transfer amount makes a difference.
Sending $1,000 to the UK
Xe
Western Union
Transfer fee
$0
$0
Exchange rate
1 USD = £0.806
1 USD = £0.803
Transfer speed
1-2 days
1-4 days
Total amount received
£803.18
£803.00
Receiver gets
£0.18 more
£0.18 less
Sending $10,000 the UK
Xe
Western Union
Transfer fee
$0
$0
Exchange rate
1 USD = £0.806
1 USD = £0.803
Transfer speed
1-2 days
1-4 days
Total amount received
£8,061.64
£8,030.00
Receiver gets
£31.64 more
£31.64 less
XE is slightly the cheaper option on the first transfer but the transfer speed is much quicker. The more money you transfer, generally XE offers you bigger savings. It’s also worth noting that Western Unions rates includes an promotional offer on your first transfer with them.
Which offers better exchange rates?
Xe
Xe adds a margin to the exchange rate, which varies based on the currency. Keep in mind that the rate you’ll pay is different from what’s shown on the Xe currency converter tool, which shows live market rates without the mark-up.
For a transfer to India:
Xe’s exchange rate: 1 USD = 82.2334 INR
Mid-market rate: 1 USD = 82.5090 INR
This is a margin around 3.3%.
Western Union
Western Union also adds a margin to its exchange rates, which widely varies depending on the currency, payment method and the way the receiver would like to collect the money. The exchange rate on cash pick-ups is not as good as the exchange rate on bank transfers.
Western Union’s bank transfer exchange rate: 1 USD = 82.2044 INR
Mid-market rate: 1 USD = 82.508714 INR
This ends up at a margin of 3.6% for a bank transfer and 11% for cash pickup.
Winner: Xe
Xe generally offers better exchange rates than Western Union. Western Union’s rate for bank transfers — which can take up to five business days or more — are often close to Xe’s rates. But for larger transfers, Xe offers significantly better rates.
Which is faster?
Xe
Xe will confirm the estimated date when you set up your transfer, but the majority of transfers are initiated within the same day. While some transfers arrive the same day, transfers to specific countries can take one to four days if you send after hours. And some less popular currencies may take longer.
Western Union
Western Union cash pickups are available within minutes, but bank transfers can take up to six days. It depends on the transfer and how it’s received.
Winner: Tie
Both Western Union and Xe can get your money there on the same day, but it will be received in different ways. Western Union offers speedy cash pickups, but Xe has faster bank transfers.
General features
Payment methods
Receiving options
Minimum and maximum transfers
Transfer speeds
Currencies
Xe
Bank transfer
Bank transfer
Minimum: $1
Maximum: $500,000
Within minutes
100+ currencies
Western Union
Bank transfer, cash transfer, debit card, credit card
Bank account, cash pick-up, mobile wallet
Minimum: $1
Maximum: $50,000
Within minutes
100+ currencies
Xe
Set up an account with Xe, get a quote and if you’re happy with that quote, you send Xe the money. Xe will complete the transfer for you.
Western Union
Register for a Western Union account. After that, you go into your profile and select the Send money option. Once you’ve entered all the transfer details, you choose your payment method and pay Western Union. Once your payment is received, they’ll transfer the funds.
Overall, Xe is typically a better choice when compared side by side to Western Union. Western Union’s fees and exchange rates are so varied that you’ll often get stung by a hidden fee. On the other hand, Xe adds a smaller mark-up to the exchange rate, plus it has no fees below $500.
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
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.
Isabel Sandercock-Brown is an international money transfers writer at Finder. She's written for a number of organisations, from the Salvos to Bumble. She has a Bachelor of Arts in Communications from the University of Technology, Sydney.
How do you know if your international money transfer made it safely? Learn how to track or cancel, and find out what your rights are when it comes to sending money.
From bank transfers to specialist money transfer companies, there are several options available when you need to transfer money overseas from your bank account.
If you need to transfer money overseas using your credit card, you can do so via your bank, MoneyGram, Western Union and PayPal. This can be useful in emergency situations, but credit card transfers are usually not a cost-effective option.
If you’re looking for a secure way to send money overseas, an international bank draft could be for you — but if speed is important, consider using a money transfer service instead.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
