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XE Money Transfer review

A secure, low fee way to send money overseas.’s rating: 4.1 / 5.0


How’d we get our score?

Fees & rates: 4.0 / 5.0
Speed: 3.5 / 5.0
Services: 4.0 / 5.0
User experience: 5.0 / 5.0

XE allows you to transfer money to over 130 countries in 60 currencies — but no cash pickup option means your recipient needs to have a bank account to get the funds.

Within minutes

Fastest Transfer Speed


Minimum Transfer Amount


Maximum Transfer Amount


Customer ServicePhone, Email
Pay ByBank transfer
Receiving OptionsBank account

Review by

Zak Killermann is a writer at Finder who’s been specializing in cryptocurrencies and blockchain technology for four years — covering everything from ICO booms, crypto winters, memecoins and more. He’s mined and minted cryptocurrencies, and remembers the days when DOGE was just for fun. Zak’s focus is in breaking down technical concepts (like yellow papers) for the average folk to digest on their morning commute. Before diving into all things crypto, Zak contributed to Finder’s money transfers vertical.

Expert review

XE’s low fee transfers offer a solid way to send money abroad. Just make sure the exchange rate you’re being offered is competitive against the rates offered by other companies. With an easy signup process, a straightforward app and one of the world’s leading forex pricing websites, XE has a lot to offer to new customers.

However, when sending large amounts of money, XE’s mid-market margin may chip away at the total amount received by your family or friends. Of course, no money transfer service is going to be the perfect solution for every customer and every transfer, which is why it’s important to compare XE against competitors before sending money.

Why should I consider XE Money Transfer?

XE has many pros, including:

  • 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 mid-market rate is met.
  • Worldwide network. Send money to more than 130 countries from six different regions around the world.
  • Competitive rates. XE will almost always beat the rate offered by your bank and even the rates offered by many other money transfer companies. Compare XE’s rates to see how they stack up.

What to be aware of with

XE has a few cons, including:

  • Restricted payment options. XE doesn’t allow you to pay for international money transfers with a credit card or with cash.
  • No cash pickup. Transfers through XE must be sent to your recipient’s bank account. There are no options for cash pickup, mobile wallet delivery or transfers to a debit card.
  • No mid-market rate. XE transfers do not use the mid-market rate, so customers must pay attention to the transfer rate they’re being offered when sending money.

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 makes 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.

Check if there are any XE money transfer promo codes available

XE money transfer reviews

Overall, XE money transfer reviews are positive. On Trustpilot, XE’s ratings were 86% Excellent when we checked, with only 2% of reviews rating the service as Bad. Users on Reddit remarked on how XE felt a bit misleading since it offers both exchange rate information and money transfers, but just because XE has currency exchange rate information doesn’t mean it can send to that currency.

XE Money Transfer reviews are accurate as of October 14, 2020.

Trustpilot4.7 out of 5 — based on 40,444 customer reviews
SiteJabber1.9 out of 5 — based on 99 customer reviews
Monito7.5 out of 10 — based on staff reviews
Finder.com4.1 out of 5 — based on staff reviews

Is XE 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:

  • 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.

What types of personal transfers does XE support?

You can send your transfer from your linked bank account via the following methods:

  • Wire transfer
  • Automated Clearing House (ACH)

The funds will then be deposited into your recipient’s bank account — they don’t need to hold an XE account in order to access the money you send. Cash isn’t currently an option to send or receive using XE.

How do I send money through XE Money Transfer?

To sign up for an account with XE:

  1. Go to the XE Money Transfer website.
  2. Select Get started.
  3. Sign up for an account. Provide the country you live in, your email address and select Continue.
  4. Fill out your title and name, then select Continue.
  5. Finish creating the online account. Create a password and security question, then select Next: Your details.
  6. Provide further details. You’ll need to give your address, phone number, date of birth, Social Security number and occupation.
  7. Wait for your account to be approved.

Steps to send money through XE Money Transfer

After your account is approved, you’ll typically receive an email. To send money after approval:

  1. Sign in to your XE account.
  2. Enter payment details.
  3. Select the amount you want to send.
  4. Select the currency you want to transfer to and enter your recipient information.
  5. Review all the details and click Send.

Processing times vary depending on where you’re sending the funds and the transfer method you select. For example, while wire transfers take one to three days to complete, electronic funds transfers typically take two to four days.

Where can I use XE Money Transfer?

You can send money to more than 130 countries when doing so from the United States. Popular destination countries include:

  • Australia
  • Canada
  • France
  • Germany
  • Hong Kong
  • India
  • Italy
  • Japan
  • New Zealand
  • South Africa
  • Spain
  • United Kingdom

XE Money Transfer mobile app

XE Money Transfer mobile app screenshot

The XE app is available on both Google Play and the App Store. The app makes it possible to:

  • Track your transaction. Quickly see your transfer’s expected arrival time and be notified of any delays..
  • Log in using biometrics. Both face and fingerprint recognition can be used to log in.
  • Check exchange rates on the go. Current currency exchange rates can be found in the app.
  • Monitor numerous currencies. Track up to 10 currencies with alerts available when target mid-market rates are hit.
  • Read currency news. Frequently updated news stories can be found in the app that relate to your preferred countries and currencies.
Reviews accurate as of September 30, 2020
Google Play Store4.4 out of 5, based on 92,715 customer reviews
Apple App Store4.6 out of 5, based on 4,574 customer reviews

More on the best money transfer apps

Tracking and canceling a transfer

XE alerts customers by email and text when funds are sent, but you’ll wait one to four business days for payments to arrive. To check on the status of a transfer or cancel it, call XE Money Transfer at 877-932-6640.

What other products does XE offer?

  • Currency converter. Want to know current exchange rates? This easy-to-use tool can help.
  • Currency charts. View how two currencies have performed against each other for a period of up to 10 years.
  • XE currency data API. This product gives businesses around the world access to accurate exchange rates for more than 170 currencies.
  • IBAN calculator. Work out what any International Bank Account Number (IBAN) means with this handy calculator.
  • XE business transfers. With many of the same features that personal transfers have, XE Money Transfer for businesses allows you to take advantage of competitive rates to complete business transfers all around the world.

Bottom line

XE offers a competitive solution when you need to send money abroad. But before making a final decision, compare XE to other services to find a money transfer specialist that meets all of your needs.

Frequently asked questions about XE money transfers

Do I need to open a new bank account in order to send money with XE?

No, XE Money Transfer works with your existing bank account to allow you to send international money transfers.

When can I use XE Money Transfer?

XE Money Transfer can be quickly accessed online 24/7.

Can I pay for a transfer using my credit card?

No. XE does not offer this option because merchant fees charged by credit card companies would greatly increase the cost of your transaction.

How does XE compare to other services?

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.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
24 hours

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
24 hours
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Within minutes

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Within an hour
From $1.99

View details
New customers send USD 20 to Lebanon and use code ADD10 for a USD 10 discount. Valid till 7 November 2021. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Within an hour

View details
Exclusive: Use code GET60 to save 30 USD on each transaction over 200 USD. Valid for the first two transactions and till 30 November 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.

Compare up to 4 providers


Our team analyzes money transfer providers offering services in the US — from big names to digital upstarts. We rank rates and fees, speed, services and user experience for:

  • Wise
  • XE
  • OFX
  • WorldRemit
  • Currencies Direct
  • Western Union
  • RIA Money Transfer
  • MoneyGram
  • Remitly
  • Payoneer
  • Remit2India
  • Xoom
  • PayPal

Learn the details of our methodology and scoring.

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Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.


    Default Gravatar
    July 12, 2019

    If you do not have a social security number, as I reside in a caribbean island, can I use another form of identification?

      Avatarfinder Customer Care
      July 12, 2019

      Hi Maya,

      Thanks for reaching out to Finder.

      Yes, you can instead upload a copy of your passport or both sides of a government-issued national identity card. Please note though, that driver’s license is not accepted and also please ensure that the ID/document you will use is valid and in date.

      I hope this helps.


    Default Gravatar
    March 31, 2019

    How long does it take to send money from Germany to the UAE? How much is the cost? Do they need authentication for 24000 euro or not?

      Avatarfinder Customer Care
      April 2, 2019

      Hi Kutaiba,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      If you are going to use XE Money Transfer, it will take 3-5 days for your money to arrive in the UAE. When it comes to cost, XE does not charge any fee. However, there are some instances where you will incur third-party charges.

      If you mean by authentication is whether they verify your identity or not, the answer is yes. Upon opening an XE account, you’ll need to give your address, phone number, date of birth, Social Security number, occupation and the type of identification you want to supply.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    March 25, 2019

    I want to transfer money from United state to tonga..but where they going to receive money in tonga.

      Avatarfinder Customer Care
      March 26, 2019

      Hi Tonga,

      Thank you for reaching out to Finder.

      XE Money transfer has no cash pickup locations available. Transfers are only received via Bank account. Please reach out to XE for you to be able to start a money transfer. Hope this helps!


    Default Gravatar
    March 2, 2019

    my client want to send me money through Xe money from Australia to Zimbabwe,How do I receive the money?

      Avatarfinder Customer Care
      March 5, 2019

      Hi Taffy,

      Thank you for leaving a question. XE Money Transfer may not carry the Zimbabwe currency. You may look into this options for it.

      Bank transfers. Some Australian banks will offer transfers to banks in Zimbabwe, so you should check with your financial institution for more details.
      Online money transfer providers. Companies like WorldRemit allow you to lodge fast and easy online transfers to Zimbabwe.
      Money transfer companies with cash pickup options. Companies such as Western Union and MoneyGram allow you to transfer funds that can be picked up from a number of local agent locations in Zimbabwe.
      Cheques. Posting an international guaranteed cheque to Zimbabwe is a slow but secure money transfer method.

      Hope this helps.


    Default Gravatar
    February 22, 2019

    I need to receive payment in Colorado USA from a South African company for my coaching services. To do this, they are requesting a SWIFT code. How can I set up an account with XE to receive payments?

      Avatarfinder Customer Care
      February 24, 2019

      Hi Elaine,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      The SWIFT code is a combination of letters and is used to identify the branch codes of the banks. For this reason, you would need to directly get in touch with your bank to know its SWIFT code. In most cases, you can also do a quick online search as most SWIFT codes are readily available on the Internet.

      With regards to your second question, you can create an XE account by clicking the “Go to site” green button found above. It should redirect you to XE’s official website where you can start setting up an account and receiving money.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


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