Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Xe Money Transfer review

Xe allows you to transfer money to over 130 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.

Within minutes

Fastest Transfer Speed

$1

Minimum Transfer Amount

$500,000

Maximum Transfer Amount

Xe’s low fee money 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 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.

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 $535,000 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.
  • 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

  • Limited cash pickup options. Xe has only just begun to roll out cash pickup across the globe. As a result, it’s not widely available at the time of writing.
  • 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.
  • 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 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.

1 - 15 of 15
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Currencies Direct
Within an hour

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
Xe
Within minutes
$3

View details
Xe has fast transfers with low fees and a range of foreign currency tools.
Currencies Direct
Within an hour

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyFair
24 hours
€3

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
WorldRemit
Within an hour
From $1.99

View details
Use the code ‘4FREEFINDER’ to get 4 free transfers if you are a first time user. Eligible countries only.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
CurrencyTransfer
24 hours
$0

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.
Wise (TransferWise)
Within an hour
From 0.41%

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Remitly
Within minutes
From $0

View details
Use code FINDERUSA20 for $20 off your first transfer from the US when you send at least $250. T&Cs apply.
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

View details
Use code FINDERUSA20 for $20 off your first transfer from the US when you send at least $250. T&Cs apply.
Free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Instarem
Within an hour
$1

View details
Instarem offers zero transfer fees on all transfers.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Currencies Direct (business)
Within an hour

View details
Minimizes costs of international transactions and offers custom solutions for business clients.
OFX International Money Transfers (Business)
24 hours
$0

View details
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0

View details
Increase business efficiency with zero transaction fees and same-day transfers.
loading

Compare up to 4 providers

Frequently asked questions

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

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 finder.com Terms of Use and Privacy and Cookies Policy.

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?

    • Avatarfinder Customer Care
      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?

    • Avatarfinder Customer Care
      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.

    • Avatarfinder Customer Care
      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?

    • Avatarfinder Customer Care
      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?

    • Avatarfinder Customer Care
      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

Go to site