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XE Money Transfer review

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

finder.com’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

A secure, fee-free way to send money overseas.

XE allows you to transfer money to over 200 countries in 60 currencies — but no cash pickup option means your recipient needs to have a bank account to get the funds.

USD 0

Min. Transfer Amount

USD 500,000

Max. Transfer Amount

1 - 2 days

Transfer Speed

Details

Product NameXE Money Transfer
Min. Transfer AmountUSD 0
Max. Transfer AmountUSD 500,000
Transfer MethodsOnline, Phone, Bank Account to Bank Account
Transfer OptionsOne off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Email
Available CurrenciesAED, ALL, AMD, ARS, AUD, AZN, BAM, BBD, BDT, BGN, BHD, BND, BSD, CAD, CHF, CLP, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, ILS, INR, JOD, JPY, KRW, KWD, KZT, LKR, LSL, MGA, MKD, MUR, MWK, MXN, NAD, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, PYG, RON, RSD, RWF, SEK, SGD, SRD, THB, TJS, TND, TRY, TTD, UGX, USD, ZAR
Online Transfer Fee$0
Exchange Rate UpdatesReal time

XE doesn’t charge any fees or commissions on international money transfers. Instead, it turns a 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. In some rare cases you may also incur some third-party charges, such as fees from financial institutions for receiving wire transfers.

How are XE’s exchange rates?

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’s how 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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 1 - 2 days USD 0.00 0.903 EUR 4,516 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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.

Benefits and drawbacks

Pros

  • No fees. XE doesn’t charge any transaction fees, commissions or ongoing fees.
  • Competitive rates. XE offers highly competitive exchange rates to customers. Compare XE’s rates with those offered by the banks to see how they stack up.
  • Currency specialists. Unlike banks, which offer a wide range of financial products and services, XE specialises in global currency markets.
  • No limit. Many transfer services impose a maximum you can send each month, but XE doesn’t.

Cons

  • No credit card payment. XE doesn’t allow you to pay for international money transfers from your credit card.
  • No cash pickup. Transfers must be sent to your recipient’s bank account.

How does XE compare to other services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 1 - 2 days USD 0.00 0.903 EUR 4,516 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 1 1 - 2 days USD 40.00 0.907 EUR
4,498
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
EUR 1,000 1 - 2 days USD 10.00 0.898 EUR 4,480 Use TransferMate to help you send money to almost any country around the world for a small fee. Go to site Show details
USD 1 Within an hour USD 3.99 0.903 EUR 4,511 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 0.898 EUR 4,489 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 1,000 1 day USD 0.00 0.898 EUR 4,489 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
USD 5,000 1 day USD 0.00 0.898 EUR 4,489 Venstar will support you through the entire process of your international transactions, from start to finish. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How do I send money through XE Money Transfer?

Signing up for an account with XE is simple and entirely free. Follow these steps to sign up:

  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 and 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.

Once that’s taken care of, setting up a transfer is easy. Sign in and provide your payment details, the amount you want to send, the currency you want to send it in and who you’re sending it to.

You’ll then be given a chance to review the exchange rate and the full details of your transaction, and when you’re happy with it you can send your money.

Processing times vary depending on where you are 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.

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.

Bottom line

XE offers a competitive and affordable solution when you need to send money abroad. But compare XE to other services to find a money transfer specialist that meets all of your needs.

Frequently asked questions about XE money transfers

Methodology

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:

  • TransferWise
  • 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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44 Comments

  1. Default Gravatar
    Maya
    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?

    • AvatarStaff
      Charisse
      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.

      Cheers,
      Charisse

  2. Default Gravatar
    Kutaiba
    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?

    • AvatarStaff
      Joshua
      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!

      Cheers,
      Joshua

  3. Default Gravatar
    tonga
    March 25, 2019

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

    • AvatarStaff
      johnbasanes
      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!

      Cheers,
      Reggie

  4. Default Gravatar
    Taffy
    March 2, 2019

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

    • AvatarStaff
      Val
      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.

      Cheers,
      Val

  5. Default Gravatar
    Elaine
    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?

    • AvatarStaff
      Joshua
      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!

      Cheers,
      Joshua

  6. Default Gravatar
    Izwan
    February 14, 2019

    I want to transfer money from indonesia to Malaysia. What is the best transfer option and does the transaction have limit? Is it legal if i send a large sum of money at once using this transfer option?

    • AvatarStaff
      johnbasanes
      February 15, 2019

      Hi Izwan,

      Thank you for reaching out to finder.

      This page, though it states that is is from Malaysia to Indonesia can have a transfer done vice versa. You may check the selection of providers for your choice. As per the limit for making a transfer, money transfer companies may require additional documents from the sender when sending more than MYR 50,000. Hope this helps!

      Cheers,
      Reggie

  7. Default Gravatar
    Priscilla
    January 28, 2019

    Can XE help in transferring EUROs from India to a university in Slovakia for application fees for masters admissions?

    • AvatarStaff
      Jhez
      January 29, 2019

      Hi Priscilla,

      Thank you for your comment.

      Upon checking, XE Money Transfer is unfortunately not serving in India as of yet. Kindly check other money transfer services that are available in Slovakia here.

      Regards,
      Jhezelyn

  8. Default Gravatar
    Joel
    January 27, 2019

    Can I transfer US dollars to an Indonesian bank account in rupiahs?

    • AvatarStaff
      johnbasanes
      January 28, 2019

      Hi Joel,

      Thank you for reaching out to finder.

      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.
      In addition to one-off transfers, XE Money Transfer also allows you to enter bids for exchange rates you would like to receive. XE will then monitor global markets and when the rate appears, will automatically lodge your transfer for you. Hope this helps!

      Cheers,
      Reggie

  9. Default Gravatar
    Raju
    January 9, 2019

    Is it possible to transfer funds from India to Oman?

    • AvatarStaff
      Joshua
      January 9, 2019

      Hi Raju,

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

      If you are going to use XE money transfer, the answer is yes. You can use XE Money Transfer to send money from India to Oman. You can simply click on the “Go to site” green button to learn more or initiate your money transfer.

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

      Have a wonderful day!

      Cheers,
      Joshua

  10. Default Gravatar
    Armaan
    January 3, 2019

    How can I know the difference in the amount the recipient will receive and the amount that I will send before I make the transfer?

    • AvatarStaff
      Charisse
      January 5, 2019

      Hi Armaan,

      Thanks for reaching out to finder.

      When you send money internationally using XE money transfer, they will convert your local currency to the foreign currency you wish to exchange to before you send the money to lock the exchange rates. The equivalent amount of the exchange will be displayed on their transaction page so you will know the exact amount your recipient will receive before you even complete the transaction.

      I hope this helps.

      Cheers,
      Charisse

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