Enjoy fast, secure and fee-free international money transfers from global payments provider XE.
|Product Name||XE International Money Transfers|
|Min. Transfer Amount||USD 0|
|Max. Transfer Amount||USD 500,000|
|Transfer Methods||Online, Bank Account to Bank Account|
|Transfer Options||One off payments, Market orders|
Minimum transfer time
|Customer Service||Phone, Email|
|Available Currencies||AED, AUD, BBD, BGN, BHD, BSD, BWP, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HRK, HUF, ILS, INR, JMD, JPY, KWD, LSL, MXN, NOK, NZD, PGK, PHP, PLN, RON, SAR, SEK, SGD, THB, USD, VUV, XPF, ZAR|
|Online Transfer Fee||AUD 0|
|Phone Transfer Fee||AUD 0|
|Exchange Rate Updates||Real time|
- No fees
- Competitive rates
- Currency specialists
- No credit card payment
- Need to create account to get a quote
- Currently missing some of the major currencies
XE exchange rates and fees
XE does not charge any fees or commissions on international money transfers. It instead turns a profit on the spread, which is the difference between the price you receive for a transaction and the price it actually costs XE to complete that trade.
There are no ongoing account fees to worry about and no transaction fees. The exchange rate you'll end up paying is different from the one on XE's currency converter tool, which is a live feed of the mid-market rate.
In some rare cases, you may also incur some third-party charges, such as fees from financial institutions for receiving wire transfers. You'll need to check with your recipient's bank to find out how much it will be.
Calculate how much sending money overseas would cost with XE by using our tool below. You can also check out the real-time exchange rate XE offers and if there are any additional fees.
XE transfers money in over 40 different currencies. You can check out the full list of the currencies above, but some of the more popular ones include:
- CAD Canadian dollar
- EUR Euro
- GBP British pound
- HKD Hong Kong dollar
- NZD New Zealand dollar
- PHP Philippine peso
- TBH Thai baht
- USD US dollar
What payment methods does XE accept?
You can pay for your international money transfer via bank transfer or BPAY. You first need to confirm your transaction, then XE will provide you with its bank details. Unfortunately, XE doesn't accept payments with cash or card.
What types of transfers can you make with XE?
Other than the usual one-off money transfer, XE offers limit orders. Also known as market orders, you can request XE to buy or sell a currency at a specific exchange rate. XE doesn't currently offer regular payments or forward contracts, that lets you lock in an exchange rate for future transactions.
How long does a transfer with XE take?
Most international money transfers with XE should arrive within the day. However, certain transfer types may take longer. In Australia, XE only accepts payments through bank transfer or BPAY.
It’s important to be aware when you’re setting up the transfer that your bank may take extra time to transfer money to XE. XE will only start your money transfer once it's received the funds from your bank account.
Is XE safe to use?
- Security and regulation: XE is government regulated and holds its customers' funds separate from the company's own. However, it doesn't give you the option for Two Factor Authentication on your account.
- Established: 1993
- Number of customers: 112,000 customers (this number is for Euronet, XE's parent company, that also includes HiFX and Ria).
- Reviews: Trustpilot gives XE a score of 9.1 out of 10, based on around 1,900 reviews.
XE is part of a group of other international money transfer companies called Euronet, who also own HiFX and Ria. XE itself doesn't actually do your money transfers – its sister company HiFX does instead. As such, while XE isn't regulated by Australia's regulatory body ASIC (Australian Securities and Investments Commission), HiFX is.
Part of this regulation means XE has to keep its customers' funds separate from its own. This means that should the company have any financial difficulties, your funds stay safe and secure.
How does XE make its money?
While XE charges no fees, it still makes money from each transfer because of the margin. That's where the rate you're quoted when setting up a money transfer is different from the live mid-market rate you'll see on Google or Reuters. As a result you should compare both the exchange rate the money transfer provider is offering, as well as any additional fees.
How to register an account
Signing up for an account with XE is simple and free. The following steps can help guide you through the process.
How to make a money transfer with XE
- Log in. You'll land on your dashboard screen where you can navigate around your account details.
- Click "new transaction". This button is at the top of your screen in the menu bar.
- Finalise how much you want to send. You'll need to add in the currency pair and either how much you want to send, or how much you want the receiver to get. XE will then provide you with a quote the exchange rate you'll receive.
- Add in the recipient's details. This includes the recipient's name, address, bank details and the reason for the payment.
- Select your payment method. For transfers from Australia, you can choose between a bank transfer or BPAY.
- Confirm your transfer. Make sure to double-check the exchange rate in case it has changed. You'll also want to make sure all of your recipient's information is correct, as cancelling the transfer later on is difficult.
- Transfer the funds to XE. XE will give you details so you can transfer money into its local bank account. This information will be on your PDF confirmation.
- XE sends your transfer. XE will complete the transfer once it receives the money. You can track this through your email updates or your online account.
What is XE's background?
XE was established in Canada in 1993 by two high school friends and has since grown into one of the world's leading currency rate providers. XE offers currency exchange tools and services to customers around the world.
Euronet acquired XE in 2015, where it joined other electronic payment and transaction companies. Other than XE's Canadian headquarters, it has other international offices in Australia, New Zealand, the UK and the US.
In a nutshell
- No fees. XE doesn't charge any transaction fees, commissions or ongoing fees.
- Competitive rates. XE offers highly competitive exchange rates to customers. Compare XE’s rates with those offered by the banks to see how they stack up.
- Currency specialists. Unlike banks, which offer a wide range of financial products and services, XE specialises solely in global currency markets.
- No credit card payment. XE does not allow you to pay for an international money transfer from your credit card in Australia.
- Need to create an account. To get a quote on the current exchange rate for your transfer, you need to create an account and sign in.
- Currently missing some of the major currencies. You can't send money to China or India with XE.
- No cash pick-up. Transfers must be sent to your recipient’s bank account.
How does XE compare to other providers?
Our table below shows you the exchange rate and fees for other money transfer specialists.