XE Money Transfer for business transfers review September 2018 | finder.com

XE Money Transfer business transfers review September 2018

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Take advantage of market orders and forward contracts to lock in competitive rates with no fees.

XE Money Transfer offers businesses a quick, easy and secure way to send bank-to-bank transfers across the globe from nearly any device. Take advantage of strong rates with a forward contract, or hold out for the exchange rate you want through a market order.

What can XE Money Transfer offer my business specifically?

After you sign up for a business account, you can take advantage of spot contracts, market orders and forward contracts when making global payments from your business’s bank account.

Through the XE Currency App, you’ll also get on-the-go access to live exchange rates, historical charts and calculators to make the most of your international money transfers from your smartphone or tablet.

How are XE Money Transfer’s exchange rates?

XE Money Transfer’s exchange rates are close to the mid-market rate, or the rate banks use when trading among themselves. The margin it adds to this rate varies, but you’re bound to find stronger rates than through your local bank.

The website updates exchange rates across the market, even when a country’s forex markets are closed. For minor and exotic currencies, XE uses the most recent data available.

How much will my business pay to send money with XE Money Transfer?

You’ll pay no fees on business transfers through XE Money Transfer. But your bank may charge a fee for the wire required to transfer money from your account to XE — anywhere from $10 to $30.

What types of transfers can my business make?

XE Money Transfer supports bank-to-bank money transfers to more than 170 countries worldwide.

To help you lock in a favorable exchange rate, take advantage of such tools as:

  • Forward contracts. Lock in a favorable exchange rate now, and then make a transfer any time for up to a year from that date.
  • Market orders. Choose a target exchange rate, and XE Money Transfer initiates your transfer when the market hits that rate.

Calculate your exchange rate

I want to send

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Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
XE Money Transfer for Business $0 3 - 5 days - - Save your business time and money with XE. Go to site Show details

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Pros and cons of using XE Money Transfer for business

Pros

  • No fees and strong rates. Transfers are free, regardless of how much you send. And rates are often lower than your bank’s.
  • Flexible limits. You can send as much as $500,000 online — and even more when placing an order over the phone.

Cons

  • Only bank transfers are accepted. You can’t fund transfers with cash or a credit card. However, cash transfers are accepted through XE’s sister company, Ria.
  • Requires lots of documentation. You’ll need to upload proof of your ID and address after you’ve signed up for a business account.

How do I make an international payment with XE Money Transfer?

Send money internationally through XE Money Transfer in five easy steps:

  1. Go to the XE Money Transfers website and register for a free business account.
  2. Log in to your online account to set up a transfer.
  3. Select the currency you want to transfer, the amount you’re sending and your beneficiary’s bank account details. Review the exchange rate and total cost.
  4. Confirm your payment through a bank transfer, ACH or direct debit from your bank account, providing required details.
  5. XE Money Transfer emails confirmation after the money is transferred to your recipient.

If the payment for the transaction is from a bank account that’s not in your name, call 877-932-6640 for further instructions. You also have the option to book a transfer by phone.

What happens next?

  • Track your transfer. Watch the progress of your transfer through your online account.
  • Get support. Contact the XE Money Transfer team at transfers@xe.com or 877-932-6640.

What is XE Money Transfer?

XE Money Transfer has gone through quite a few changes over the past 25 years. It was originally founded in 1993 as Xenon Laboratories, officially changing its name to XE.com in 2001. It was then acquired by Euronet, a global electronic payment and transaction processing solutions company, in June 2015. Just three years later, another Euronet subsidiary called HiFX became part of XE Money Transfer.

With an investment-grade rating from Standard & Poor’s, XE’s business transfer service is trusted by some of the biggest brands in the market, including Amazon, Apple, Google, PayPal and Walmart.

Bottom line

XE Money Transfer provides no-fee money transfers at rates to compete with other online money specialists. And its tools can help you manage risks associated with foreign exchange fluctuations.

If you’re looking for a specialist for business payments, read our guide to international business transfers.

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