XE Money Transfer review February 2019 | finder.com

XE money transfer review

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

XE allows you to transfer money to over 170 countries in 60 currencies — but no cash pickup option means your recipient needs to have a bank account to get the funds.
Product NameXE Money Transfer
Min. Transfer AmountUSD 0
Max. Transfer AmountNo limit
Transfer Methods
Online, Phone,
Transfer Options
One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
3 - 5 days
Customer Service
Phone, Email
Available CurrenciesAED, AUD, BGN, BHD, BWP, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HRK, HUF, ILS, JMD, JOD, JPY, KES, KWD, LSL, MUR, MXN, NOK, NZD, OMR, PHP, PLN, QAR, RON, RSD, SAR, SEK, SZL, THB, TND, TRY, USD, ZAR
Online Transfer Fee$0
Exchange Rate UpdatesReal time

How much does it cost to transfer money with XE?

XE does not 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 transaction and the price it actually costs XE to complete that trade. There are no ongoing account fees to worry about and no transaction fees.

Outgoing wire transfers do attract a fee, although this is generally lower than what banks charge for a similar transaction. In some rare cases you may also incur some third-party charges, such as fees from financial institutions for receiving wire transfers.

Calculate your transfer with XE

Choose your currency and desired transfer amount (no limit). Exchange rates change frequently, so visit XE’s site to get a final quote.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days USD 0.00 0.876 EUR 4,379 Transfer up to $500,000 with no minimums and no fees. Go to site Show details

Compare up to 4 providers

XE exchange rates

As XE specializes in a wide range of foreign currency solutions, customers can access 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.

Who charges less?

Independent transfer services like XE can typically beat your local bank when it comes to fees. Many online money specialists offer free transfers with competitive exchange rates, like OFX, XE, TransferWise and World First.

What types of transfers can you carry out with XE?

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.

Pros and cons of using XE

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.

Cons

  • No credit card payment. XE does not allow you to pay for an international money transfer from your credit card.
  • No cash pickup. Transfers must be sent to your recipient’s bank account.

How does XE compare to other services?

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days USD 0.00 0.876 EUR 4,379 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1 1 - 2 days USD 7.00 0.876 EUR
4,375
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 3.99 0.875 EUR 4,369 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 0.874 EUR 4,368 Minimum transfer: $5,000. For larger transfers, take advantage of no transaction fees and no maximum send limits. Go to site Show details

Compare up to 4 providers

The registration and transfer process

Signing up for an account with XE is simple and entirely free. The process shouldn’t take too long if you have your identification on hand. 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, occupation and the type of identification you want to supply. Then select Next: Your requirements.
  7. Provide documentation. Upload your chosen piece of identification.
  8. Wait for your account to be approved. Make sure your documents are clear, fully pictured and in a supported file type.

Once that’s taken care of, setting up a transfer is easy. Sign in and provide your payment details, the amount you wish to send, the currency you wish 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 payment to arrive. To check on the status of a transfer or cancel it, call XE Money Transfer at 1-877-932-6640.

Bottom line

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

Looking for an alternative? Compare services like XE to get the best rates and fees.

Frequently asked questions about XE money transfers

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

TransferWise

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

CurrencyTransfer

Minimum transfer: $5,000. For larger transfers, take advantage of no transaction fees and no maximum send limits.

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34 Responses

  1. Default Gravatar
    IzwanFebruary 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?

    • finder Customer Care
      johnbasanesFebruary 15, 2019Staff

      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

  2. Default Gravatar
    PriscillaJanuary 28, 2019

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

    • finder Customer Care
      JhezelynJanuary 29, 2019Staff

      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

  3. Default Gravatar
    JoelJanuary 27, 2019

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

    • finder Customer Care
      johnbasanesJanuary 28, 2019Staff

      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

  4. Default Gravatar
    RajuJanuary 9, 2019

    Is it possible to transfer funds from India to Oman?

    • finder Customer Care
      JoshuaJanuary 9, 2019Staff

      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

  5. Default Gravatar
    ArmaanJanuary 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?

    • finder Customer Care
      CharisseJanuary 5, 2019Staff

      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

  6. Default Gravatar
    AnthonyJanuary 3, 2019

    Can I send money from Iran to Nigeria through western union or money gram?

    • finder Customer Care
      nikkiangcoJanuary 3, 2019Staff

      Hi Anthony,

      Thanks for getting in touch! Upon checking, Western Union and Moneygram don’t offer their services to Iran at the moment. We don’t have a page that lists out brands that services money transfers from Iran – Nigeria. You might want to check the money service providers available in Iran.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  7. Default Gravatar
    BenOctober 29, 2018

    Hello XE-Team,
    is it possible to transfer money from Germany (Euro) to a dollar bank account in Peru with XE?
    Thanks and greetings

    • Default Gravatar
      joelmarceloOctober 29, 2018

      Hi Ben,

      Thanks for leaving a question on finder.

      Unfortunately, it is not possible to send money to Peru using XE yet. We have a guide on how to send money to Peru if you click HERE.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

  8. Default Gravatar
    MaryOctober 3, 2018

    I want to send US dollars to my dollar account in Costa Rica. I want to be able to pay bills online. This will be a monthly deposit. Is this possible with XE or another service?

    • finder Customer Care
      JoshuaOctober 6, 2018Staff

      Hi Mary,

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

      Yes, this is possible with XE. Once you decided that XE is the right one for you, please click on the “Go to site” green button to be redirected to XE’s website.

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

      Have a wonderful day!

      Cheers,
      Joshua

  9. Default Gravatar
    MoSeptember 29, 2018

    I live in ireland, work in saudi arabia. can i transfer saudi riyal to euro from saudi to irish bank ?

    • finder Customer Care
      CharisseSeptember 29, 2018Staff

      Hi Mo,

      Thanks for reaching out to finder.

      If you are referring to XE Money transfer, though it supports currency conversion from Euros to Saudi Riyal, Saudi Arabia is not one of the countries it provides service to. If you have a Saudi Arabian bank account, you may want to inquire with your bank directly if they provide bank to bank transfer service to Ireland banks. Using money exchange remittances in Saudi Arabia is also another option you can consider.

      I hope this helps.

      Cheers,
      Charisse

  10. Default Gravatar
    EvelinaSeptember 27, 2018

    Why does XE require social security numbers, date of birth, etc., to open an account. This can possibly result into identity theft

    • finder Customer Care
      CharisseSeptember 27, 2018Staff

      Hi Evelina,

      Thanks for reaching out to finder.

      Money transfer companies have to follow US regulations in order for them to be able to operate and provide money transfer service. Asking for the customer’s SSN and other personal information is necessary so they can positively verify your identification and to also prevent money laundering activities.

      Even if they obtain a customer’s personal information, they are committed to the privacy and security of your personal data. You can read the full information on how they collect, use and protect your personal information on their Privacy Policy page.

      Hope this helps.

      Cheers,
      Charisse

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