XE Money Transfers Review

With a well known name and easy to use online platform, let's find out if they are the company for you.

With rates, fees, the safety of your money and everything in between to think about - choosing how to make an international money transfer is definitely daunting.

In our XE review, we have a look at the services they offer and lay out the reasons we do (and sometimes don't) like them. We'll go over everything you need to know so that you can decide if they are the right option for your next international money transfer.

As a trusted and seasoned name in foreign exchange, they could be a good option for your international money transfer. Founded in 1993, they have been dealing in foreign exchange for a long time. The fact that they don't charge transfer fees or have a minimum transfer amount make them quite attractive.


Pros Cons
  • Well known and trusted brand.
  • No international money transfer fees, or minimum transfer amount.
  • Accessible customer service.
  • Business and individual support.
  • Limited currencies available to transfer.
  • They do not accept payment by cash or cheque.
  • No customer service on weekends.

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With competitive rates and no fees, there is a lot to like about XE. And if you haven't made a transfer before, you might especially like that they are an established and trusted currency brand. They're good for transfers of all sizes as they don't have a minimum amount to transfer.

XE can support your for both individual and business needs. They also have customer support who can assist you if you don't want to do everything regarding your transfer online, or even if you just have some questions.

TransferWise website screenshot.

Pros and cons of using XE Money Transfers

  • Being a very well known and trusted brand can put your mind at ease.
  • They have a very informative website that can keep you up to date with any currency news.
  • No fees, no matter the amount you're transferring, and no minimum transfer amount.
  • Support available for both individuals and businesses.
  • They offer a number of products, including limit orders.
  • Good and easily accessible customer support.
  • Can't pay for your transfer via cash or cheque.
  • While they compare almost all currencies on their website, they only transfer a portion of them.
  • The calculator on their homepage doesn't quote the actual rate you would get for your transfer. It shows the interbank rate before XE have applied their margin.

How Much XE Money Transfers Costs

It is quite simple to work out how much a transfer with XE is going to cost. Because they don't charge any transfer fees, you just have to look at the exchange rate that they are offering you for your transfer.

The XE homepage shows you every currency, so that you can find out what the current exchange rates are between any currency pair you might need. Just remember that these rates are the interbank, and are not the rates XE offer for the transfer.

Alternatively, you can click here and use our exchange rate comparison table. You can see XE's actual exchange rates and compare them to the banks and other money transfer companies to see which is the best option for you.

XE Money Transfer Customer Reviews

TrustScore: 9.2/10

Generally, customers speak favourably about their experiences with XE. Many customers spoke of the reliability of the company, the speed of their transfers and their efficiency.

The most common complaint about XE is that their customer support team are unresponsive, or unhelpful. This usually responded with weekend hours though, when XE support is not available. This is often not a problem if everything goes smoothly and you're happy doing everything online. But if you need to change something about your transfer, run into a roadblock or simply need some assistance out of hours it could be frustrating.

How to use XE to Transfer Money Overseas

There are three main steps to setting up an account with XE, which we have outlined below. You can also watch our video tutorial for a complete step by step guide. Before you start your transfer there are a few things you will need as well.

  1. ID to set up your account.
  2. Name and details of your recipient.
  3. Details of your payment method.

Step 1: Register

Register your details through the XE website. This will include the type of account you need, your details and the currencies you'll transfer. Once you provide some ID, XE will let you know when your account is ready.

Step 2: Transfer

Once you have a quote for your transfer, you will go ahead and fill in the details of the person you're sending the money to. If you're sending it to your own international account, fill in your own details.

Step 3: Pay

XE accept payment via bank transfer. XE does not accept credit card.

Supported Currencies

While XE compare all currencies on their website, there are a much smaller amount they are actually able to transfer. We've listed them below. The currencies that they support are:


US dollar (USD), British pounds (GBP), Australian dollar (AUD), Canadian dollar (CAD), Japanese Yen (JPY), Indian Rupee (IDR), Mexican Peso (MXN)

Does XE have an App?

When you have an account with XE, you can make transfers through their website, or through their iOS and Android apps.

The company have an app to check currency exchange rates, and one to make the actual transfers. Having this on your phone will make it a lot easier to make transfers on the go if you need to.

The XE app is available to both Apple and Android users.

Is it safe to use XE?

Safety is a very important consideration when it comes to making an international money transfer and sending money overseas. XE take their legal responsibilities very seriously. They are regulated in every country they operate in, including ASIC in Australia. They work under HiFX's Australian financial services license number. These are very stringent guidelines that XE must follow in order to send your money.

They also take measures to protect the sensitive data you provide them, like your personal details and identification. They comply strictly with their privacy policy to ensure any data you provide to them is safe.

XE Exchange Rates

While XE don't charge any transfer fees, they do put a margin on the exchange rate. The rates they offer are still generally more competitive than the ones you would get offered in a bank. It's important to know when companies put a margin on their rate so that you can accurately calculate the cost of your transfer.

While XE's homepage has a calculator on it, this doesn't accurately show you the rate they would give you for a transfer. These are the interbank rates.  You need to sign up to an account with XE to get an accurate quote for how much your transfer will cost.

To compare the rates that XE offer to other banks and money transfer providers, you can use our comparison table here.

XE Business Products

XE can support your business in a number of ways.

When you initially set up your account, you will be asked if you need it for business or personal reasons. Which means your account will be customised to best suit your needs. When it comes to the business products they offer, you can make immediate transfers with them or sign up for market orders or forward contracts.

Ready to go?

Ileana Ionescu
Content manager
With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.
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Last updated
March 16th, 2022