XE money transfer review & guide

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

Trademark Disclaimer: XE* with whom RemitBee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Everything you need to know

XE review

XE Money Transfer is one of many online money transfer services that claim to offer fast and easy transfers internationally. But is it the right service for you?

There are a number of things to consider before choosing XE Money Transfer over the many other money transfer services available. Value for money, speed, and security are all major factors to look at.

With many online money transfer services, you may actually lose money on your transfer. Whether you are sending money for a business transaction or to family overseas, you'll want to keep more of it in your pocket.

If you've ever wanted an XE Money Transfer review, here's everything you need to know.

Payment Methods Available with XE

XE has been in the currency exchange business for over two decades. It is part of an international financial services conglomerate, Euronet Worldwide. As such, it is able to offer a number of options for funding your money transfer.

Bank Transfer (ACH or Wire Transfer)

Debit Card

Credit Card

Apple Pay / Google Pay

PayID / POLi

How much can I transfer with XE?

XE provides competitive limits for transferring money internationally, depending on whether you're using their online platform or going to an agent in person.

Bank or Wire Transfers

MThese transfers typically have higher sending limits and are processed efficiently. No additional limits on transfers made via bank or wire transfers

Credit or Debit Cards

While XE doesn't specify exact limits for card payments, these transactions may be subject to additional fees and processing times.

Direct Debit

For payments made via Direct Debit in the UK, XE limits the transfer amount to £3,000 per payment.

How long does a transfer usually take with XE?

XE Money Transfer typically processes transfers within 1-4 business days, depending on the payment method, destination, and currency. Transfers funded by credit or debit cards are usually completed within 1 business day, while bank or wire transfers can take up to 3 business days to process, with additional time depending on the recipient's bank. ACH or EFT payments in the U.S. may take 3-4 business days to clear. Factors such as weekends, holidays, and additional verification can cause delays. </span>

XE Transfer Fees

XE Money Transfer offers a transparent fee structure with no upfront charges for many transfers, provided the transfer amount exceeds a specified threshold. For amounts below this threshold, a flat transfer fee applies. XE also applies a markup on the exchange rate, which is typically higher for smaller transfers. Larger transfers tend to benefit from better exchange rates, and transferring an amount over the threshold for your currency allows you to avoid the transfer fee altogether. The cost of sending money with XE depends on several factors, including the amount you send, the country and currency used, and the payment method.

Pros and Cons of using XE

Pros

Extensive coverage with over 100 countries and currencies available

Speed of transfer most completed within one business day

Customer reviews are overwhelmingly positive

Cons

XE Money Transfer only supports bank account transfers, not local cash pickup

Limited options for funding transfers

Customer support issues have been reported by senders

How it works

How does XE make money?

XE makes its money by charging its users a fee to send money to other countries. These fees vary depending on where you’re sending money to, and how the recipient plans to pickup the money. If, for example, you’re sending money to someone for cash pickup, it will cost you more than simply sending money from one bank account to another.

Additionally, XE charges a markup on its exchange rates. This markup can vary from transaction to transaction, but averages about 1 percent of the mid-market rate.

The fees charged by XE are often lower than many of its competitors, but can vary greatly. Check their website for the fees you will be charged, and compare them to other companies to see if you’re getting the best price for your money transfer.

XE exchange rates

XE Money Transfer's exchange rate is competitive. But, there are better services out there. The company's rate is under the interbank rate. This is good for you, the sender. But it is still not the lowest rate among XE's competitors. As an example, take a transaction where a customer wants to send pounds from Great Britain, converting it to dollars in Australia. For sending pounds XE usually charges a 1-1.5% margin on the mid market exchange rate.

Best rates with RemitBee

RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.

Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.

Safety and security

Is XE money transfer secure?

XE is a registered Money Services Business with the United States Department of the Treasury and is fully licensed to operate as a money transmitter. It is authorized to operate in numerous countries, including Canada, Australia, and the UK.

Security features

All XE accounts undergo a variety of verification measures to ensure they are safe and secure, helping to prevent fraud and unauthorized access.

To send money via XE, users must submit specific documents to verify their identity, complying with regulatory requirements.

XE utilizes both manual and automated fraud detection systems, applying robust risk management procedures to identify and stop suspicious activity.

All transactions are secured using advanced encryption methods, including 256-bit SSL encryption, ensuring your data is protected throughout the transfer process.