Review of XE money transfer

Review of XE Money Transfer offers businesses a quick, easy and secure way to send bank-to-bank transfers across the globe from nearly any device. Take advantage of strong rates with a forward contract, or hold out for the exchange rate you want through a market order.

Within minutesFastest Transfer Speed
$1Minimum Transfer Amount
$500,000Maximum Transfer Amount

Expert Review of XE money transfer

XE’s low-fee transfers are an excellent way to send money abroad. New customers at XE can take advantage of an easy signup process, a straightforward app, and one of the leading forex pricing websites in the world. Make sure the exchange rate you’re offered is competitive with other companies rates.

However, it is possible that XE’s mid-market margin will reduce your family or friend’s total amount received. XE is not the ideal money transfer service for every customer and every transfer, which is why it is important to compare XE against competitors before sending money.


READ ALSO:- wise vs xe money transfer

To lock in rates at competitive pricing, take advantage of market orders and forward contracts.

Rates & fees4.0 / 5.0
Average speed3.5 / 5.0
Types of services4.0 / 5.0
Experience of users5.0 / 5.0
  • Suitable for small transfers below $500 with a small flat fee.
  • The speed of the transfers can be slow – they can take up to 4 days. 

 It is safe to trust this review.

XE’s low-fee money transfers are a convenient and safe way to transfer money overseas. XE offers new customers an easy signup process, a user-friendly app, and one of the world’s leading forex pricing websites. Make sure the exchange rate you are offered is competitive with those offered by other companies. XE’s mid-market margin may reduce the amount your family or friends receive if you send large amounts.

READ ALSO:- Money Transfer USA to India 

XE Money Transfer: Why should I consider it?

  • Fees are low. For amounts below $500, XE charges a small flat fee.
  • There is no limit on sending. Transfers made over the phone have no limit, but online transfers are limited to $535,000 per transaction.
  • Creating custom alerts. Subscribe to currency pair alerts by email to receive notifications when your desired mid-market rate is reached.
  • Networking worldwide. Over 130 countries are accessible from six different regions.
  • Contracts for forwarding. XE offers the option of “buy now, send later,” which lets you agree to a rate in advance and send your transaction at a later time.

What you should be aware of

  • Limited options for cash pickup. It is only now that XE is rolling out cash pickup worldwide. Therefore, it’s not widely available at the time of writing.
  • There is no mid-market rate. Because XE transfers do not use the mid-market rate, customers must pay attention to the rate they are being offered when sending money.
  • Transfer speeds are slow. The transfer can take up to four working days, depending on the efficiency of your recipient’s bank.

Fees for XE Money Transfer?

All international money transfers under $500 are charged a $3 fee, while those above $500 are not charged a fee. 

The recipient’s bank may require wire transfer fees. You’ll be notified if a small fee applies to your money transfer before sending it. There may also be third-party charges associated with your transfer, although this is rare.

What are XE Money Transfer’s exchange rates?

The exchange rate you receive when using XE is different from the mid-market rate, as is the case with many other money transfer providers. Exchange rates vary between 0.5% and 2%. XE provides customers with access to live exchange rates that reflect market conditions as well as a wide range of foreign currency solutions. Rates change regularly throughout the day in response to market fluctuations and are typically better than those offered by major banks. XE offers forward contracts as well. In this case, you agree to a rate in advance and then make your transfer on a specific date. It can help reduce transfer costs by locking in your transfer when rates are lower.

How can I use XE Money Transfer to transfer money abroad?

XE Money Transfers allows you to send money to your recipient by either a traditional bank transfer or cash pickup. You can only send money to your recipient via the XE app.

XE Money Transfer: How to send money

XE requires an account before you can send a money transfer. You can do it on the website or through the app. If possible, XE recommends using its app for transfers since it offers more options.

Step 1: Create an account

  • Visit the XE Money Transfer website or download the app. Before making your first transfer, you will need to wait for your account to be approved. Please provide your email address, Social Security number, and country of residence. Passwords and security questions are also required. When prompted, click Get Started.

Step 2: Enter your transfer details

  • Your transfer information needs to be entered once you have logged into your account. The amount you want to send will also be included as your starting currency and your recipient’s currency.

Step 3: Select transfer method

  • You can choose between sending your funds via bank transfer or cash pickup. Cash pickup is only available if you’re using the app.

Step 4: Enter the recipient’s details.

You will need the recipient’s name and their banking information (if you are sending a bank transfer).

Step 5: Make your payment.

Pay for the transfer. Alternatively, you can use a debit or credit card or make a bank transfer.

Step 6: Confirm your transfer

Take this opportunity to review your transfer details, such as your sent rate, send the fee, transfer times, and recipient details. If everything looks good, click confirm and send your money.

XE Money Transfer offers a variety of payment options.

XE Money Transfer can be paid for by bank transfer, credit card, or debit card. XE does not accept payments by cash, checks, or bank drafts. To pay for your transfer by card, you must do so online or through the app. XE does not accept card payments over the phone.

What is the duration of an international transfer with XE Money Transfer?

As soon as you confirm the money transfer, you’ll be able to see a payment date – though this is the earliest estimated time your funds will be transferred. After XE receives your payment, your money will arrive between 1 and 4 working days later.

XE Money Transfer is it safe to use?

Money Transfer by XE is operated by XE, a well-known and large foreign exchange provider. The company is licensed and registered with:

  • Financial Services Department of the State of New York
  • FINTRAC is responsible for analyzing financial transactions and reports in Canada.

XE is part of Euronet, along with Ria Money Transfers. In addition to being a leading money transfer company, Euronet is partnered with hundreds of companies, including Visa, MasterCard, PayPal, and Google.

Is XE Money Transfer better than other money transfer services?

Use the table below to compare the exchange rates and fees offered by XE Money Transfer with those of other money transfer services.

Transfer Time
Transaction Charges

Western union
4-5 Business Days

Within minutes

Within 24-hours

Transfers reach you within 3 working days.
This fee is 2.5% for Standard and Plus users (and 1.5% for Premium and Metal users)

2 business days to process a transaction
Transaction fees between 0.25% and 1% and no hidden charges.
Usually on the same day for personal accounts. For business accounts, it will take 1-2 working days
Your first transfer is FREE

Is XE Money Transfer cheaper than other money transfer services?

For transfers below $500, XE charges a $3 fee, and there is no fee for transfers above that amount. Before you send your money transfer, you’ll be notified if a small fee applies. Most of its profits come from the spread, which is the difference between the price you receive for a transfer and what it actually costs XE to execute it. When you send a money transfer with XE, you will pay:

  • There is a fee for small transfers. The fee is $3 for transfers under $500.
  • Markup at mid-market prices. XE’s exchange rates fluctuate but are typically between 0.5% and 2%.
  • Charges by third parties. A third-party fee, such as bank fees for receiving wire transfers, may apply in rare cases.

When and how does XE make money?

  • XE’s exchange rate is different from the mid-market exchange rate and the small transfer fee. 
  • XE makes money using a similar spread as money transfer services do.
  • XE offers a wide range of foreign currency solutions, including live exchange rates that reflect market conditions.
  •  Rates change regularly throughout the day in reaction to fluctuations in the market and are usually better than those offered by major banks.


XE Money Transfer offers no-fee money transfers at competitive rates against other online money experts. With its hedging tools, you can manage the risks associated with foreign exchange fluctuations on future business payments and keep more money within the organization.

Before you settle on a money transfer specialist for your company, read up on international business transfers to be sure you’re getting all the features you need.