Xe Money Transfer business review
- Fastest Transfer Speed
- 24 hours
- Minimum Transfer Amount
- $1
- Maximum Transfer Amount
- $15,000,000
Summary
Take advantage of market orders and forward contracts to lock in competitive rates with no fees.
Speed: 4.0 / 5.0
Services: 3.5 / 5.0
User experience: 3.5 / 5.0
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?
Sign up for a business account to 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 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 likely to find stronger rates than those offered by 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?
Businesses pay no fees on payments through Xe Money Transfer. But your bank may charge a fee for any wires 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.
Lock in favorable exchange rates with:
- Spot contracts. Make an immediate trade.
- Forward contracts. Transfer money at today’s rates at any time within three years of setting up your contract.
- Market orders. Choose a target rate, and Xe Money Transfer initiates your transfer when the market hits that rate.
Calculate your exchange rate
Pros and cons of using Xe Money Transfer for business
Pros
- No fees. Transfers are free, regardless of how much you send.
- Strong rates. Rates are often lower than what banks offer.
- Flexible limits. Send as much as $500,000 online — and even more when placing an order over the phone.
Cons
- Bank transfers only. You can’t fund transfers with cash or a credit card. However, cash transfers are accepted through Xe’s sister company, Ria.
- Requires heavy documentation. You’ll need to upload proof of your ID and address after you’ve signed up for a business account, along with other information Xe may require.
How does Xe compare to other services?
How do I make an international payment with Xe Money Transfer?
Send money internationally through Xe Money Transfer in five easy steps:
- Go to the Xe Money Transfers website and register for a free business account.
- Log in to your online account to set up a transfer.
- 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.
- Confirm your payment through a wire transfer, ACH or direct debit from your bank account, providing required details.
- Xe Money Transfer emails a 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.
How do I manage my online account?
Just as you would for your personal Xe money transfer account, you can track your transfers, manage your payments and orders and get support all through your online account.
- Track your transfer. Watch the progress of your transfer through your online account and get email or text updates.
- Manage your payments. Make transfers and payments 24/7 online by logging in and getting a quote.
- Get support. Contact the Xe Money Transfer team at transfers@xe.com or by calling 877-932-6640.
Bottom line
Xe Money Transfer provides no-fee money transfers at rates that compete well against other online money specialists. Its hedging tools can help you manage risks associated with foreign exchange fluctuations on future business payments and keep more money with your company.
Before settling on a money transfer specialists for your company, read up on international business transfers to make sure you’re getting all the features you need to succeed.
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