XE Money Transfer review December 2018 | finder.com

XE Money Transfer review December 2018

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Enjoy free, fast international money transfers with XE Money Transfer.

XE Money Transfer offers a range of flexible features to ensure fast and simple international money transfers. With no fees on its transactions, XE Money Transfer allows you to convert from 24 popular currencies into over 50 other currencies from around the globe.

Established in Canada in 1993, XE has grown into a Top 400 company and a leading service of currency tools to individuals and companies all around the world. XE Money Transfer has handled a massive $10 billion worth of global payments.

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
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.

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


  • 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 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.

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.

XE get started screen

    1. Sign up for an account. Provide the country you live in, your email address and select Continue.

XE country and email request screen

    1. Fill out your title and name and select Continue.

XE name and title request form screen

    1. Finish creating the online account. Create a password and security question, then select Next: Your details.

XE password selection form screen

    1. 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.

XE a bit more about you form screen

  1. Provide documentation. Upload your chosen piece of identification.
  2. 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.

See how other services compare to XE Money Transfer

I want to send


Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days USD 0.00 0.877 EUR 4,384 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 0.876 EUR 4,382 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
USD 1 1 - 2 days USD 7.00 0.877 EUR
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 4,374 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
1 - 2 days USD 0.00 0.875 EUR 4,373 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details
1 - 2 days - - RemitMoney specializes in transfers to India, offering 24/7 customer support and easy tracking. Show details

Compare up to 4 providers

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer partners.

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.

World First

No maximum limit, no fees and competitive exchange rates for 100+ currencies.


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

Ask an Expert

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22 Responses

  1. 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. :)


  2. 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!


  3. 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.


  4. 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.


  5. Default Gravatar
    ReggieSeptember 24, 2018

    If I exchange, say 100 usd to jpy, would there be anything money coming out? With no fees and up to date exchange rates, I don’t know exactly how much I’d actually be receiving because it seems too good to be true to gettbhe exact exchange rate. Also, with the money that’s exchange, would I be able to withdraw this money while I’m in japan and use cash instead of card?

    • finder Customer Care
      JoshuaSeptember 26, 2018Staff

      Hi Reggie,

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

      Please note that while XE does not charge fees, it is possible to incur a charge from a third-party when transferring your funds to XE or when funds are sent in a different currency.

      Upon checkout, you would know exactly how much money your recipient will receive. Review your transaction before you proceed.

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

      Have a wonderful day!


  6. Default Gravatar
    IrinaSeptember 10, 2018

    Why if I send USD to USD with $0 transfer fee, the recipient is receiving less than I send?
    I checked that if I want to the recipient to receive $490, I have to pay $496.

    • finder Customer Care
      AshSeptember 11, 2018Staff

      Hi Irina,

      Thank you for contacting finder.

      Indeed XE does not charge you for any transaction or commission fees but they make 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. That is the reason for the difference in the amount that your recipient is receiving from what you are sending.

      I hope this helps.

      Please do not hesitate to reach out again to for your additional question/s.


  7. Default Gravatar
    CoenSeptember 5, 2018

    Good day.
    Can I transfer money in USD from Saudi Arabia to South Africa.

    • Default Gravatar
      joelmarceloSeptember 6, 2018

      Hi Coen,

      Thanks for leaving a question on finder.

      You can not send same currency in XE money transfer. It will always be converted to the currency where you will be transferring the money to. You have options in sending same currency if you click HERE but be aware of fees.

      There are plenty of choices available when you need to send a same currency transfer, including banks, specialist money transfer providers, cash pickup transfers and even PayPal. All you have to do is transfer the necessary funds along with a transaction fee to the provider of your choice, and that company can then take care of distributing the money to your beneficiary’s bank account or mobile wallet, or making the cash available for collection from a transfer company branch.

      Banks across the U.S., including Bank of America and Wells Fargo, can offer secure and reliable international transfers. However, you might be able to find cheaper fees if you use a specialist online money transfer provider, such as OFX or Xoom, which allow you to send funds to your recipient’s overseas bank account.

      If you’d like to send cash that can be picked up from a transfer branch, Western Union, MoneyGram or Ria can help.


  8. Default Gravatar
    MikeSeptember 3, 2018

    I have income arising in UK and USA and want to be able to transfer to a US$ bank account in Lao PDR. Can you do that for me, please?

    • finder Customer Care
      JoshuaSeptember 4, 2018Staff

      Hi Mike,

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

      Please note that we don’t represent any company we feature on our site and since we are a comparison website, we can only offer you general advice.

      Regarding your question, what you can do is directly get in touch with a local bank in Lao PDR. From there, ask them about the eligibility requirements that you need to open a USD bank account. Once you have set that all up, you can then use XE Money Transfer or other money transfer services. We also have a guide on how to send money to Laos here.

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

      Have a wonderful day!


  9. Default Gravatar
    StephenAugust 14, 2018

    Please can I send money from USA to Nigeria using Xe.

    • finder Customer Care
      AshAugust 15, 2018Staff

      Hi Stephen,

      Thank you for contacting finder.

      Yes, you may use XE in sending money from the United States to Nigeria. XE also supports Nigerian Naira.

      I hope this helps.

      Let us know if there is anything else that I may assist you with.


  10. Default Gravatar
    SashaJuly 7, 2018

    Can I transfer money from Vietnam (Vietnamese account) into English account? Thank you

    • finder Customer Care
      nikkiangcoJuly 10, 2018Staff

      Hi Sasha!

      Thanks for leaving a question on our page.

      Transferring money from your Vietnamese account into your UK account solely depends on the method (bank to bank, online)
      It would be easy if both your accounts are from the same issuing bank otherwise here are your options to send money to UK.

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


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