XE Money Transfer Review 2023

Do you need to transfer money to an international country? XE Money Transfer is a top choice. XE Money Transfer is among the best global transfer platforms with a great track record and solid rates.

The world is not such a huge and scary place thanks to the power of technology. Connecting with friends, finding jobs, and better yet – transferring money across the globe is a breeze. With increased connection has come a surplus of options – and money transfer services are no exception. With so many options to choose from, what makes XE Money Transfer your best bet?

We’re breaking down all things XE Transfer in this review – from its advantages, to how to use it, to the features that make it stand out the most, and even the pros and cons.

If you’re on the hunt for a swift and smooth global money transfer platform, here’s why you should consider XE Money transfer:

Review Quick Summary:

XE Money Transfer has earned a notable Trustpilot rating of 4.1/5, based on more than 55,000 reviews, which classifies their service as “Great.” A slight decrease from their previous score of 4.5/5 a year ago, they still maintain a 96% positive feedback rate. Customers highlight XE’s user-friendly platform, responsive customer support, and competitive exchange rates as key reasons for their satisfaction.

XE Money Transfer: The Overview

XE Money Transfer has become recognized as one of the best money transfer platforms out there.

TrustPilot gave the service five out of five stars which is very impressive.

So, where did this 5-star rating come from? For starters, XE Money Transfer reviews indicate that this platform offers a lot of great features all in the same place. While other options have one or two of the features, they don’t have as many all together.

For example, you can initiate a same-day transfer in most of the 170 countries on the platform. You can also transfer currency into another form. When you consider their low rates and that there are no hidden fees – they’re hard to top.

This online company lets users send and receive a variety of currencies from their computers or phone. Using your personalized account, you can check in to monitor things anytime.

With over 285 million annual site visitors and 65 million+ app downloads since its launch, you can tell they are doing pretty well. Even some global brands like Amazon and Apple trust XE trade to transfer money.

There’s no doubt that security online is important – especially when it comes to sensitive financial information. With an FCA authorization and protection from Norton Security, users can rest assured that their money is safe.


Options Galore: The Rising Popularity of International Money Transferring

Even though online currency transfer providers are somewhat new to the scene, the need to transfer money is not. In the past, transferring money across borders just meant you had to find a bank to facilitate the process.

Now, new companies like Transferwise, Skrill, and XE Money Transfer are making it easier (and more affordable) than ever to transfer money all from the comfort of your phone.

With so many companies out there the challenge is picking which digital money transfer option is best.

The most difficult aspect today is deciding which service to use yourself.

As you make your decision, there are a few aspects we recommend paying close attention to. These include convenience, speed, cost, and service quality. That being said, let’s explore the advantages XE Money Transfer offers over the competition.

XE Money Transfer Advantages

XE was started back in 1993 in Canada. As one of the Internet’s first currency exchanges, it set the stage for a new wave of easy money transfers. In 2002, their service was affiliated with Western Union, but it was acquired by Euronet Worldwide as of 2015.

  • The company it’s now operating under ensures regulation by Australia, New Zealand, United Kingdom the United States, and Canada. This is good news, as that means your money is guaranteed in these places.
  • Customer support is offered in three different languages: French, Spanish, and English. It takes its global presence seriously, ensuring all users get the help they need.
  • It’s easy to use around the world. How easy? With a 96% approval rate, you can say it’s pretty simple. Just last year alone, XE facilitated $115 billion worth of business with clients from all parts of the world.
  • They have reasonable limits. Customers will love that there’s no minimum amount necessary to transfer. With a $500,000 maximum limit for online transactions, there’s lots of room to transfer all the money you need.
  • An array of transfer services cover all the bases. Everything from online trading systems, spot transactions, regular payments, and corporate options can be taken care of within XE Money Transfer.
  • XE is known for its accurate quotes. XE is known as the most accurate currency exchange calculator online with interesting histories and statistics available.
  • Low fees. Even though they like to claim no fees, the reality is that there are very low fees. A small percentage on top of the exchange rate is standard practice, and it’s generally preferred over flat rate fees. Compared to banks that charge anywhere from 3-7% extra, XE only charges 0.5-2%.


How to Use It

Getting set up with XE is as easy as creating an account and inputting all the necessary information. While you need to upload load some documents and sensitive information may be requested, their tight security system means you can share with confidence. Here’s what you can expect from the registration process:

  • First, select “Get Started” on their official website
  • Next, sign up for an XE account. Here, you will be prompted to enter your name, country, and email address. Then select “Continue.”
  • After that, create a password and select a security question. Select “Next.”
  • Find the tab for “Your Requirements.”
  • Upload the needed piece of personal identification.
  • Wait for your account to get approved. This shouldn’t take much more than a few hours to the next bank day.

After registering and getting approved, you can get to scheduling or making transfers. All it takes is signing in, providing payment details, and reviewing the transaction, and submitting it.

Customers love that most transfers will be completed within the same day. However, it’s important to note that it may take up to three days for funds to be accessible. A payment notification will let you know when the money has become available to you.

You’ll find it easy to navigate. The online interface is quite user-friendly. The app makes things even easier. In addition to transferring money, you’ll also be able to manage business risk, enhance credit facilities, send mass payments, referring partners, and customize your payment platform.

Who Should Use It?

In short – anyone. Whether you’re a corporation, an individual, transferring money on one special occasion, or making regular mass payments, you’ll appreciate how easy XE makes it. If options are what you’re looking for, options are what you’ll receive when this is your money transfer provider of choice.

What Are Some Issues That May Arise?

In hopes of helping you make an educated, realistic decision about whether or not XE Money Transfer is the right choice for you, these are common issues that may arise in using the program:

All Online

Not everyone loves the idea of uploading important documents like ID and SS card online. Further, sometimes people prefer speaking over the phone or in-person and will not like the online-only interface. If someone needs troubleshooting or customer service guidance, the digital interface may serve as an obstacle.

While getting started and making transfers with XE is simple and pretty user-friendly, some people just prefer getting things done in-person or over the phone. For those kinds of people, they would likely enjoy a choice like TorFX more than XE. OFX Money Transfer is another transfer company based over the phone that takes care of registration, transfers and customer service via phone calls.

Swift Speed

If you do experience any speed delays using XE, it is likely due to the SWIFT network. This network acts like a series of different international connecting flights. What this means is that the money may need to go through up to three different banks before it reaches the recipient.


As good as the XE.com reviews are, and as much as users love the XE experience, there’s some stiff competition. Two other global money transfer service providers, Transferwise and WorldRemit have some attractive features and offerings as well.


One thing that Transferwise offers that XE does not is transfers via Facebook Messenger, Apple Pay, and Google Pay. This is in addition to their standard bank transfers, debit, and credit cards.

While Transferwise does have some good things going for it, there are drawbacks. For example, Transferwise delivery takes longer than XE’s. While XE can make most transfers happen within the same bank day, Transferwise tends to facilitate transactions within three to five bank days. Additionally, Transferwise imposes a much tighter transfer limit of $250,000 annually. This is half of what XE allows. If you are planning to send large amounts of money, Transferwise might not be for you.

Lastly, Transferwise charges a service fee based on a fixed rate on top of a percentage of what’s being transferred. Compared to XE’s small percentage fee, this can add up fast.


Another strong competitor in the market is WorldRemit, a self-proclaimed low-cost option for those looking to transfer money. One could argue that XE is a low-cost option, too.

WorldRemit got its start in 2010 by a former advisor to the UN. It now operates in 50 different countries and facilitates cash pickup, bank deposits, and instant e-wallet transfers.

The top features WorldRemit offers its customers is nearly instantaneous transfers, low exchange rates, and transfer fees, and a particularly easy-to-use platform. Similar to XE Money Transfers, WorldRemit is licensed by multiple government regulating bodies, which adds an extra layer of safety and security to the service.

Even with all of these attractive features, there’s something that holds WorldRemit back. One thing that may worry potential customers is that the certification used as security during transactions is not accredited by the Better Business Bureau. Even more, complaints made on the BBB website indicate that the certification (Trend Micro) has not addressed them yet.

As you can see, these two both pose as competition to XE, but they don’t come close to offering the same level of trusted service as XE does.

Pros vs. Cons

To keep things simple, here are the pros and cons of choosing XE as your international money transfer service provider:


  • No fees. There are no ongoing, commission, or transaction fees.
  • Ability to transfer money in over 100 different currencies to more than 200 different countries. This wide reach is attractive to those who need to make regular payment transfers.
  • Competitive transfer rates. Their exchange rates are highly competitive when compared to other providers – in particular, when compared to banks.
  • Knowledgeable in foreign exchange rates. Banks offer a lot of different financial services. XE, on the other hand, specializes in various world currency markets.
  • The app is well-designed and user-friendly. It makes transferring money a breeze.
  • No limit. XE doesn’t impose a maximum amount that you can send each month.
  • It’s easy to register and get started. The app makes it easy to input all the necessary information and begin making transfers.


  • Only the US, UK, and Europe can process card payments. Otherwise, you cannot pay for global money transferring with a credit or debit card.
  • Cash pickup unavailable. All transfers must be sent to a bank account.

What the Reviews Say

A quick look at xe.com reviews will tell you a lot about what real customers thought of their experience using the platform. Of course, each review – even the negative ones – must be taken with a grain of salt. Negative reviews often come about during passionate moments and may not be a true reflection of what happened. Even bad news is good information to have while making a decision.

Overall, reviews on XE Money Transfer are positive. On the site Trustpilot, XE has an average rating of 4.1/5 stars with a whopping 57,000 individual reviews.

Positive reviews mainly illustrate customers enjoying the ease of getting started and transferring money, low exchange rates, and good service.

In total, only 4 percent of the reviews were negative. The main issues these reviews bring up include:

  • Confusion over the merger. Even though XE operates under the same name, the company recently merged with HiFX. Some customers have found this change confusing and have noticed slight changes in service ever since.
  • Delayed or lost money. Unfortunately, a few reviewers did not receive their money on time or at all. It seems that many of the reviewers simply misunderstood how long it would take to receive their money. What’s good to see in this case is that XE worked to get to the bottom of the issue. ?
  • Account verification issues. A few users were not approved to send money or had their approval revoked after earning it.

Despite this minority of complaints, XE has proven to be a strong service overall.


Is it a safe, legitimate option for global money transfers?

Yes! It is legitimate, secure, and efficient. Their mid-market rates are highly competitive and with no transfer fees, it’s affordable as well.

What exactly does XE Money Transfers do?

It is a way to send money to over 100 countries in over 200 currencies.

What are the transfer limits?

There are no maximum or minimum transfer limits with XE Money when using the phone app. When facilitating through the online platform, there is a $500,000 limit per transaction. This makes it easy to send large amounts at once.

How easy is it to cancel a money transfer?

Easy! All you have to do is call their toll-free number immediately. Keep in mind there may be a small cancellation cost, however.

How can I keep track of my transfers?

A: You will stay up to date on the status of all of your transfers via their email and SMS automated systems. You will be notified when the money has fully transferred and is available. If you don’t want to rely on text or email, you can track the transfers on the dashboard with the corresponding transaction number.

Is a new bank account needed to use the app?

No, you can use a pre-existing bank account.

When will I be able to transfer money?

The process is available to customers online, 24 hours a day, seven days a week. Keep in mind that the transfer may not go through until the banks are open.

Quick Summary

🏛️ Established1993
🌎 ClientsGlobal
💱 Currencies98 provided
📱 PlatformsRetail presence, phone service, online service and mobile app
⚖️ RegulationAuthorised by the FCA as an Electronic Money Institution (EMI)
✔️ Credit RatingInvestment-grade credit rating from Standard & Poors
🌟ReviewsExcellent 4.1/5 from 57,480 reviews on TrustPilot
💰 FeesNo transfer fees
🌐 Official WebsiteVisit XE


All in all, XE is one of the top competitive money transfer service options out there. With no hidden fees, low service rates, fast transfer time, and ease of use, most people will find it a reliable choice.


Categories Money Transfer