XE Money Transfer Review 2023 - Is XE.com safe to use?

Most people will have come across the name XE when looking at exchange rates. But did you know, they also send money overseas? Even if they're well-known you still need to check if they're safe to use and whether they're the best for you. Find out these answers and more in our easy to read guide.

In this XE Money Transfer review we will explain:

Which currencies you can send
What are XE's fees
What is XE
How to transfer money
Pros and cons
Trust and safety
Ways to pay
Customer service and how to contact XE
How fast is XE
XE mobile app

Egyptian Pound
Kenyan Shilling
Ghanaian Cedi
Nigerian Naira
South African Rand
Algerian Dinar
Angolan Kwanza
Basotho Loti
Burundian Franc
Botswana Pula
Comorian Franc
Congolese Franc
Cape Verdean Escudo
Djiboutian Franc
Eritrean Nakfa
Ethiopian Birr
Gambian Dalasi
Guinean Franc
Liberian Dollar
Libyan Dinar
Moroccan Dirham
Malagasy Ariary
Malawian Kwacha
Mozambican Metical
Namibian Dollar
Rwandan Franc
Seychelles Rupee
Sudanese Pound
Saint Helenian Pound
Sierra Leonean Leone
Somali Shilling
Sao Tomean Dobra
Swazi Lilangeni
Trinidadian Dollar
Tanzanian Shilling
Ugandan Shilling
CFA Franc
CFP Franc
Zambian Kwacha
Zimbabwean Dollar

Chinese Yuan Renminbi
Hong Kong Dollars
Indonesian Rupiah
Indian Rupees
Japanese Yen
Malaysian Ringgit
Pakistan Rupee
Philippine Peso
Singapore Dollars
South Korean Won
Sri Lankan Rupee
Taiwanese Dollars
Thailand Baht
Vietnamese Dong
Afghan Afghani
Armenian Dram
Bangladeshi Taka
Bhutanese Ngultrum
Belizean Dollar
Cambodian Riel
Kyrgyzstani Som
Kazakhstani Tenge
Lao Kip
Mongolian Tughrik
Macau Pataca
Mauritanian Ouguiya
Mauritian Rupee
Maldivian Rufiyaa
Myanmar Kyat
North Korean Won
Nepalese Rupee
Tajikistani Somoni
Turkmenistani Manat
Tunisian Dinar
Uzbekistani Som

United Dollars
Canada Dollars
Brazilian Real
Mexican Peso
Peruvian Nuevo Sol
Venezuelan Bolivar Fuerte
Vanuatu Vatu
Argentine Peso
Barbadian or Bajan Dollar
Bermudian Dollar
Bolivian Bolíviano
Bahamian Dollar
Colombian Peso
Costa Rican Colon
Cuban Convertible Peso
Cuban Peso
Dominican Peso
Falkland Island Pound
Guatemalan Quetzal
Guyanese Dollar
Honduran Lempira
Jamaican Dollar
Caymanian Dollar
Nicaraguan Cordoba
Panamanian Balboa
Peruvian Sol
Paraguayan Guarani
Surinamese Dollar
Salvadoran Colon
Venezuelan Bolívar

British Pound
Euro
Danish Krone
Norwegian Krone
Swedish Krona
Swiss Franc
Azerbaijani Minat
Albanian Lek
Aruban or Dutch Guilder
Bosnian Convertible Mark
Bulgarian Lev
Belarusian Ruble
Czech Koruna
Georgian Lari
Guernsey Pound
Gibraltar Pound
Haitian Gourde
Hungarian Forint
Isle of Man Pound
Icelandic Krona
Jersey Pound
Moldovan Leu
Macedonian Denar
Polish Zloty
Romanian Leu
Serbian Dinar
Russian Ruble
Seborgan Luigino
Syrian Pound
Turkish Lira
Ukrainian Hryvnia
Uruguayan Peso

XE Money Transfer has an impressive track record as a international money transfer specialist. It transfers over £115 billion worldwide every year for more than 65,000 customers and is part of the Euronet Worldwide group, which also includes HiFX and Ria. XE has been in business for more than 20 years and is a trusted source of exchange rate information, widely used by businesses, banks and financial institutions to understand the market rate. Yes, they are pretty impressive.

They don’t charge transfer fees, and make money on the difference between the base exchange rate and the exchange rate you get. This makes them one of the more competitive providers out there, although they’re not always the cheapest. You can expect to pay around 0.5 to 2 percent of the total amount you’re sending to XE, although some less traded currencies may be a little more expensive.

XE says that it sends out most transfers on the same day that they get your money. The reason they say “most” is that there are a few areas that will affect the speed of the transfer.

These include:

the currencies you’re moving money between
the countries where the money needs to be sent
when you’re sending money

Although XE says that they convert money and send the majority of exchanges on the same day, it can take 1 to 4 working days from then to appear in the overseas bank account. It’s important to plan this transfer speed and bank lag time into your money exchange. XE will also keep you in the loop about your transfer through SMS and email updates.

The one thing you really need to know is how much XE charges to send money overseas. The good news is that XE doesn’t charge transfer fees, and you can get competitive rates. Of course, that’s not the same thing as saying they are the very cheapest!

Depending on the currency you’re exchanging into, you’ll normally pay between 0.5% and 2% more than the base rate, interbank rate when you’re sending money to a popular destination. This includes places like Canada, the United States and Europe. Some of the less traded currencies will mean you pay a higher rate. In some cases, other money transfer companies like Wise (formerly TransferWise) or Revolut may be less expensive.

Unfortunately, it’s not easy to see what exchange rates you’ll get unless you create an account with XE and log in.

XE.com makes it simple to get an account and start sending money. Here’s the process.

You can apply for an XE account through the website, by downloading the mobile app, or by calling XE. You need to create an ID, password, and provide them with your contact information.
Once you’ve got an account, you can find out how much it will cost you to send money and book a transfer.
Then, you enter the details of the person your sending money to, finalize the transfer and send the money to XE. Easy.

You’ll also need details of the recipient’s bank account. These vary between countries, but typically you’ll need to provide the sort code or routing number and the account number. In some cases, you’ll need to provide a SWIFT code or IBAN (International Bank Account Number).

If you want to create an account and send money overseas, XE will ask you for some details. XE will need your full name, date of birth, residential address, occupation, email, and a contact number. XE will also need to verify your identity, in most cases they can do that electronically, but they’ll contact you if you need to provide any documents.

When you want to send money, they’ll also need more details, including a copy of your:

Passport
Government-issued identity card
Photocard driver licence
Bank or building society statement
Utility bill (gas, electric, landline phone, water, satellite/cable TV or broadband)
Residence permit
Current building/contents insurance certificate, or a
Recent tax bill

It’s a little frustrating, but XE has some contradictory information on their website about how you can pay for your transfer. On some pages, they say you can only pay by bank transfer (also known as a wire transfer), and on other pages, they say you can also pay via credit card or debit card. Once you’ve logged in and booked a transfer, you’ll be able to see your options.

Ways to receive money from XE

XE will only send money to someone else’s bank account. They can’t receive money as cash or have it delivered to their home.

The XE mobile app is a fast and convenient way to transfer money while you’re on the go. The app lets you check foreign exchange rates for more than 180 currencies, make international money transfers, and even set up alerts so you don’t miss the rate you’ve been waiting for. You can also see when your transfer is pending, when it is sent, and when your transfer is on its way to your recipient.

For ease-of-use, we read through reviews on both the Apple App Store and Google Play. The XE Money Transfer app scored 4.6 out of 5 on Apple devices and 4.5 out of 5 on Android devices. Reviewers said that the app was simple to use and that it displayed information about exchange rates in a straightforward and understandable way.

Trustpilot customer reviews about XE

XE Money Transfer is rated highly by customers, with 96 percent of reviewers on Trustpilot describing XE as “Excellent” or “Great.” They get an average score of 4.7 out of 5.

Here’s what some of the reviews say.

“The process was very easy and a good rate was offered.”

“We have used FX agents for over 20 years. XE not only offer competitive exchange rates for business, the speed and confirmation process is better than we have experienced anywhere!”

“Quick and easy money transfer with a good exchange rate....way better than the banks! I started the process late yesterday afternoon and the transfer process was completed the very next morning. Communication was good, letting me know where things were at for each step of the process. I will definitely use XE.com again”

Is XE Safe ? Is XE legitimate?

You bet. XE Money Transfer is fully regulated in the US and UK. They must meet very strict rules and regulations about keeping your money safe. XE also uses strong encryption and security to keep all of your details and money transfer information private. Another thing: XE Money Transfer must keep customer funds separate from the money they use to run the business, which gives you more reassurance. Customers like XE Money Transfer too and they score an average of 4.7 out of 5.

Learn more here: Is Xe money transfer safe?

XE.com provides several services in addition to personal and business currency exchanges.

The XE Datafeed that lets developers include the latest exchange rates in accounting systems, custom software, and ecommerce websites.
XE offers a daily email that includes information on currency exchange rates, the latest news, interest rates and more.
Business users can get access to XE services that let them make payments to multiple recipients across multiple countries, and accept international payments through websites and apps.
Business users can also manage their currency exchange risks using a variety of tools from XE, including credit facilities.
You can get personalized support in English, French and Spanish.
You can use advanced currency tools like market orders and forward contracts to lock in exchange rates.
If you don’t mind taking risks, you can even indulge in foreign currency speculative trading with XE. We don’t recommend this, as it’s easy to lose a lot of money!

By Natalie Robertson Updated May 23rd, 2023

Transfer Money
with XE

XE is good for

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Money transfers can be made in these currencies:

Africa

Asia

Americas

Europe and UK

Oceania

Middle East

What is XE?

Pros and cons of using XE

Learn more

How fast is XE?

What are XE's fees?

How do I send money with XE?

How much can I transfer with XE?

The details you’ll need when you’re sending money