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Xpress Money adds a margin on top of the mid-market exchange rate before selling currency on to you. Even so, these rates are typically better than what you would get from your bank, meaning more of the money you send makes it to your recipient.
Indicative exchange rates are listed on the Xpress Money website, but you'll need to visit your nearest Xpress Money location to confirm the rate that will apply to your transaction.
You'll also need to pay a fee for each transaction, but the fee amount varies depending on the currency you're sending, the size of the transaction and how your beneficiary will receive the funds.
Available currencies
Xpress Money offers fast transfers to more than 160 countries. Supported currencies include the following:
BDT Bangladeshi taka
CAD Canadian dollar
EUR Euro
GBP British pound
INR Indian rupee
NZD New Zealand dollar
PHP Philippine peso
USD US dollar
What types of transfers can you make with Xpress Money?
Your recipient can access the money you transfer with Xpress Money in the following ways:
Bank account transfer. You can deposit funds directly into your recipient's overseas bank account.
Cash pick-up. Your recipient can collect the cash you send from more than 160,000 Xpress Money partner locations around the world.
Home delivery. The cash you send can be delivered to your recipient at their home address.
Mobile wallet transfer. The funds you send can be deposited directly into your recipient's mobile wallet.
However, please note that not all transfer methods are available in all countries.
How long does a transfer with Xpress Money take?
Xpress Money offers instant money transfers, with the money you send typically available within minutes.
However, if you're sending funds that will be delivered to your recipient's home, the transfer will take longer to process.
What payment methods does Xpress Money accept?
Xpress Money accepts cash payment only.
Is Xpress Money safe to use?
Regulation. Regulated in Australia by ASIC and AUSTRAC
Established. 1994
Global network. 160,000+ cash pick-up locations in 160+ countries
Founded in 1999 in the United Kingdom, Xpress Money is part of the UAE Exchange group of companies. In Australia, Xpress Money is regulated by the Australian Securities and Investments Commission (ASIC) and listed on the Australian Transaction Reports and Analysis Centre (AUSTRAC) Remittance Sector Register.
The company claims to have a range of quality checks and controls in place to meet global security standards and to ensure Anti-Money Laundering (AML) compliance. A unique 16-digit PIN is generated for each transaction and provided only to you and your recipient, while you can also track your transaction online or via SMS alerts.
Country
Regulated by
Australia
Australian Securities and Investments Commission (ASIC) and Australian Transaction Reports and Analysis Centre (AUSTRAC)
Canada
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
United Kingdom
Financial Conduct Authority
United States
Financial Crimes Enforcement Network (FinCEN) Regulatory authorities vary by state
How does Xpress Money make money?
Xpress Money makes money in two ways:
By charging a transaction fee each time you send an overseas transfer.
By adding a margin on top of the mid-market exchange rate. The mid-market rate is the "real" exchange rate you see quoted on currency conversion websites like Reuters.
How to register an account
As Xpress Money offers cash transfers, there's no need to sign up for an online account with the service. Instead, you simply need to visit your nearest Xpress Money location to initiate an in-person transfer request.
How do I make an international money transfer with Xpress Money?
You can send a transfer by completing the following steps:
Visit your nearest Xpress Money branch.
Provide your recipient's name and contact details and specify how they will receive the money you send. If sending to a bank account, you'll need to supply your recipient's bank account details as well.
Pay for your transfer.
Share the 16-digit XPIN with your beneficiary and then track the transaction online or via SMS alerts.
What is Xpress Money?
Launched in London in 1999, Xpress Money is an instant money transfer service that offers convenient transfers to more than 160 countries. It is part of the UAE Exchange group of companies, which itself was launched in 1980 and has served more than 15 million customers around the world. This UAE-based company also offers the Unimoni online transfer service.
Xpress Money's Australian head office can be found in Melbourne.
In a nutshell
Pros
Send to 160+ countries. Xpress Money allows you to transfer funds to more than 160 countries, making it easy to send money all around the world.
Global network. Xpress Money's network of partner locations exceeds 160,000, allowing for convenient cash pick-ups.
Competitive exchange rates. The exchange rates on offer from Xpress Money are generally better than those you can get from your bank.
Multiple payout options. From bank transfer to cash pick-up and home delivery, your recipient can access the money you send in several ways.
Cons
Transfer fees. Xpress Money charges higher transaction fees than some other money transfer services, so you may be able to find better value elsewhere. However, remember that you'll also need to consider the exchange rate when calculating the total cost of a transaction
Lack of alternative payment options. Xpress Money is a cash transfer service and does not accept bank account transfers. There's no mention on the company's website about whether credit card payments are accepted.
How does Xpress Money compare to other providers?
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Yes, the Xpress Money app is available for Android and iOS devices. You can use the app to calculate fees, find cash pick-up locations, track your transactions and access promotional offers, but not to send a transfer
You can get in touch with Xpress Money customer support by ringing a toll-free number, sending an email or using the live online chat feature on the company's website.
No. Bank transfers are not accepted as a payment method.
Tim Falk is a writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
Are you due to receive a large sum of money from another country? Familiarise yourself with Australian laws and tax regulations regarding money transfers.
Minimum and maximum transaction limits can restrict your international money transfer options, so compare overseas transfer limits in this handy guide.
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