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Xe Money Transfers
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Our verdict

Transfer money to over 200 countries in over 100 currencies at fair exchange rates.

Around since 1993, XE is a trusted name in the money transfer space and have built up an extension network. There's only a small fee to pay on transfers below $500, which you'll be shown upfront. But pay close attention to transfers without a fee and check you're ok with the exchange rate markup as you won't get the mid-market rate.

Most of our money transfers are completed in minutes. Occasionally certain factors can affect the transfer completion date. XE keeps clients updated by email throughout the process. And if your recipient doesn't have a bank account, you have the option of sending a cash pickup but this is only available via the mobile app.

  • Solid exchange rates that are more competitive than major Australian banks, especially on larger transfers.
  • Online currency calculator might not give you the customer rate.

In this guide

  • Our verdict
  • Details
    • Product details
  • Frequently asked questions
  • Your reviews
  • Ask a question

Details

Product details

Product Name Xe Money Transfers
Pay By Bank transfer, Credit card, Debit card
Receiving Options Bank account
Customer Service Phone, Live chat, Email
Maximum Transfer Amount $750,000 online (no max offline) 
Number of Currencies 100+

Why should I consider Xe Money Transfer?

  • Low fees. Xe charges a small flat fee of $4 for transfers below $500.
  • High sending limit. Transfers placed over the phone have no limit, but online transfers are limited to $500,000 USD or sending currency equivalent per transaction.
  • Multilingual customer support. They offer customer support in English, Spanish and French. XE also has a customer service team based in Australia.
  • Forward contracts. Xe has a "buy now, send later" option which allows you to agree on your rate in advance and send your transfer at a specified date in the future.

What to be aware of

  • Need to create an account. To get a quote on your transfer, you will need to create an account. Xe's online calculator doesn't show the actual rate you will get for your transfer.
  • Don't offer the mid-market rate. Xe transfers don't use the mid-market rate, so customers should pay attention to the exchange rate when sending money. This is standard within the industry.
  • Account verification. The sign-up process isn't as easy compared to the likes of Wise and Revolut.

How much are Xe Money Transfer's fees?

Xe charges a $4 fee for all international money transfers below $500 and no fee for any transfers above that amount. You'll be notified if your money transfer is subject to a small fee before you send it.

You may come across third-party charges with your transfer, although this is rare. This is when your recipient's bank charges fees for receiving wire transfers.

How are Xe Money Transfer's exchange rates?

Similar to the majority of money transfer companies, XE adds a margin to exchange rates. Depending on the amount and currency, their margins typically range from 0.5% to 2%. When we checked exchange rates for sending $5,000 to the United States, XE added a 0.61% markup to the AUD/USD rate. Similarly, they tacked on a markup of 0.63% for transferring $5,000 to the UK.

Based on our research, XE falls into a middle ground, where they aren't the cheapest option for small or large transfers. Potentially it's worth using Wise or Revolut for small, regular transfers and exploring TorFX or OFX for large transactions. Despite this, XE does offer cash pickup and forwards contracts.

XE reviews and complaints

XE is rated as "excellent" on Trustpilot and has a score of 4.3 out of 5, based on 63,604 reviews. Positive reviews highlight their excellent customer service and competitive rates for personal and business customers. Negative reviews mention their compliance policies, XE have to follow strict anti-money laundering regulations and require customers to verify their identity. XE typically responds to negative reviews within 24 hours with details on how to contact customer service for help. 81% of customers rated them 5 stars and 9% gave them a score of 3 stars or lower.

Is Xe Money Transfer safe to use?

Founded in 1993, Xe is owned by Euronet, a multi-billion dollar company that owns Ria Money Transfers. Euronet has partnerships with hundreds of global companies, including Visa, MasterCard, PayPal, Google and more. As such, while Xe isn't regulated by Australia's regulatory body ASIC (Australian Securities and Investments Commission), Xe's parent company is.

Part of this regulation means Xe has to keep its customers' funds separate from its own assets. This means that should the company have any financial difficulties, your funds are safe. As a group, they processed $115 billion last year.

What your Xe Money Transfer could look like

Use the table below to find out more details about what making a money transfer with Ria Money Transfer looks like. Click the Go to site button to visit XE's site and get a quote for your transfer.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
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What are the ways I can send money abroad with Xe Money Transfer?

You can send money to your recipient through Xe Money Transfers by either a traditional bank transfer or as a cash pickup option. Keep in mind that the cash pickup option is only available on the Xe app.

How to send money transfer with Xe Money Transfer

To send a money transfer with Xe you will first need to create an account. You can do this via its website or through its app. Xe recommends that you use its app for transfers if possible, as this has more transfer options.

What types of transfers can you make with Xe?

Xe offers a few different tools to help you make your money transfer, including:

  • Limit orders. Choose an ideal exchange rate and your transfer will automatically go through when it's met.
  • Regular payments. Set up a recurring payment at a frequency that suits you.
  • Forward contracts. Lock in today's exchange rate for a transfer in the future.
  • Business transfers. Xe has a separate product specifically for businesses.

What are Xe Money Transfer's payment options?

You can pay for your Xe Money Transfer by bank or wire transfer, credit card or debit card. In Australia, you can use BPAY or Osko. Xe does not accept payments by cash, cheques or bankers drafts.

If you wish to pay for your transfer by card, this can only be done online or through the app. Xe is unable to accept card payments over the phone.

How long does an international transfer with Xe Money Transfer take?

Once you have confirmed your money transfer, you'll see an expected payment date - although this is the earliest estimated time your funds can be sent. Once Xe has received your payment, normally the transfer only takes minutes to process.

How does Xe Money Transfer compare to other money transfer services?

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
24 hours
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Revolut
Within minutes
$0
Sign up and get a AUD$15 top-up. For new customers only. T&Cs apply.
Send money with great rates and low fees in 30+ currencies.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Instarem
Within minutes
From 0%
50% off first transaction fee from any country in APAC (outside India).
Minimum transfer of $250 and max transfer of $500,000
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
SingX
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
CurrencyFair
Within minutes
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
Send Payments
24 hours
$0
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
MasterRemit
Within minutes
From $0
Get your 1st and 2nd money transfer for free with promo codes FIRSTFREE and MASTERFINDER!.
Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
Western Union
Within minutes
From $0
Western Union sends money online to friends and family in 200+ countries around the world.
Qantas Business Money
Within minutes
$0
Earn 1 Qantas Point per AUD$1 equivalent you convert into foreign currencies. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
OFX Business Transfers
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
WorldFirst
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Send business
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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Frequently asked questions

  1. XE official website, accessed November 2023

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