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Xe Money Transfer review

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Xe
Fastest Transfer Speed
Within minutes
Minimum Transfer Amount
$1
Maximum Transfer Amount
$500,000

Summary

Xe allows you to transfer money to over 170 countries in 60 currencies and benefit from live exchange rates.

  • Good for low fee transfers - small flat fee for amounts below $500.
  • Not so great for speed - transfers can take up to 4 working days.

Pros

  • Low fees and bank-beating exchange rates
  • Send money securely to 130+ countries
  • 20+ Million Customers

In this guide

  • Review
  • Frequently asked questions
  • Your reviews
  • Ask an expert

Our Verdict

Through XE’s extensive network, you’ll be able to transfer money to more than 170 countries in 65 currencies. And there’s only a small fee to pay on transfers below $500, which you’ll be shown upfront. But pay close attention to transfers without a fee and check you’re ok with the exchange rate markup as you won’t find the mid-market rate being used on any of XE’s transfers or its online calculator.

Delivery speeds tend to be slower than competitors, with funds taking between one and four working days to reach your recipient. And if your recipient doesn’t have a bank account, you have the option of sending a cash pickup but this is only available via the mobile app.

Why should I consider Xe Money Transfer?

  • 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 exchange rate target is met.
  • Worldwide network. Send money to more than 170 countries from six different regions around the world.
  • Forward contracts. Xe has the option to “buy now, send later” option which allows you to agree your rate in advance and send your transfer at a specified date in the future.

What to be aware of

  • No mid-market rate. Xe transfers do not use the mid-market rate, so customers must pay attention to the transfer rate when sending money. Also, XE’s calculator doesn’t quote the exact rate you get for your transfer
  • Slow transfer speeds. Transfers can take up to 4 working days, depending on the efficiency of your recipient’s bank.

How much are Xe Money Transfer’s fees?

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. You may also come across third-party charges with your transfer, although this is rare. This is when your recipient’s bank charges fees for receiving wire transfers.

How are Xe Money Transfer’s exchange rates?

Like many other money transfer providers, the exchange rate you receive when making a transaction with Xe is different from the mid-market rate. Exchange rates vary, but are typically between 0.5% and 2%. 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. Xe also offers forward contracts. This is when you agree to a rate in advance and then your transfer is made on a specified date. This can help to lower transfer costs as you can lock in your transfer when rates are more favorable.

What are the ways I can send money abroad with Xe Money Transfer?

You can send money to your recipient through Xe Money Transfers by either a traditional bank transfer or as a cash pickup option. Keep in mind that the cash pickup option is only available on the Xe app.

How to send money transfer with Xe Money Transfer

To send a money transfer with Xe you will first need to create an account. You can do this via its website or through its app. Xe recommends that you use its app for transfers if possible, as this has more transfer options.

What are Xe Money Transfer’s payment options?

You can pay for your Xe Money Transfer by bank or wire transfer, credit card or debit card. Xe does not accept payments by cash, cheques or bankers drafts. If you wish to pay for your transfer by card, this can only be done online or through the app. Xe is unable to accept card payments over the phone.

How long does an international transfer with Xe Money Transfer take?

Once you have confirmed your money transfer, you’ll see an expected payment date – although this is the earliest estimated time your funds can be sent. Once Xe has received your payment, it will take between 1 and 4 working days for your money to arrive at your chosen destination.

Transfers typically takeClock icon for transfer speed

1-4 days

Is Xe Money Transfer 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:Xe

  • 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.

How does Xe Money Transfer compare to other money transfer services?

If you want to see how Xe Money Transfer compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.

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 make 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.

1 - 14 of 14
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
Airwallex
Airwallex
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
First online transfer is free.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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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.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
Xe
Within minutes
$4
Xe has fast transfers with low fees and a range of foreign currency tools.
MoneyGram
Within minutes
From $0
First online transfer is free.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
WorldRemit - 4free
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
PayPal (business)
Within minutes
$0
Provides business solutions for small business owners in over 24 currencies worldwide. Try 3 months free of Spotify Premium when you sign up with PayPal.
Wise (TransferWise) International Money Transfers Business
Within minutes
From $8.16
Enjoy high maximum transfers into more than 20 currencies, while saving up to 90% over local banks.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
CurrencyFair
24 hours
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
CurrencyFair
24 hours
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Remitly
Within minutes
From $0
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.
Remitly
Within minutes
From $0
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.
Remitly
Within minutes
From $0
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.
PayPal
Within minutes
From $0
Use PayPal to safely send money and receive payments from around the world in over 25 currencies with just an email address or mobile number. Try 3 months free of Spotify Premium when you sign up with PayPal.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
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Frequently asked questions

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Zak Finder

Publisher

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Avatar

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?


Avatar

Charisse Finder

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


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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?


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Joshua Finder

April 01, 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


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tonga

March 25, 2019

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


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johnbasanes Finder

March 25, 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


Avatar

Taffy

March 01, 2019

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


Avatar

Val Finder

March 04, 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


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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?


Avatar

Joshua Finder

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


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