The XE Money Transfer Review

xe money transfer

XE ( is an online foreign exchange and financial services company whose headquarters are in Newmarket, Ontario Canada. It is best for online currency converter services and offers exchange rate details, international money transfers, and other currency-based services via mobile apps, its website, and other online money transfers. It has been a Euronet Worldwide subsidiary since 2015. My XE money transfer review will show you how the platform operates so that you can know how to use its services.

The company is among the most significant financial companies in the world. In 2013, Alexa, an independent ranking site, ranked XE in the top 500 of all sites worldwide by traffic. It also ranked the company among the top 100 traffic sites in South Africa, Ireland, and the UAE. Later in 2016, XE released news claiming that its services had more than 280 million unique visitors annually. That showed that its services were good over the others.

XE is a global company available in many countries of the world. Therefore, it is among the financial services companies operating in the United States of America. Mainly its products include Xe Currency Converter, Xe Currency Data, Xe Money Transfer, and Xe Currency App. As I have mentioned above, it is an online company, and its services are available at You can also access its services from its mobile app, available for Android and iOS.

Process To Open An XE Account

Opening an account with XE should be the first thing you should do before using the company’s services. You should open your account online using your smartphone, computer, or tablet. It all depends on the available device. Also, you must ensure that you use a secure internet connection to make sure that you do not risk your data online. The platform argues that it is quick and easy to create your account and make your money transfer.

You can sign up for an XE account on their website, app, or phone. XE app is the best when you want to accept ACH payments instantly using bank debit. It’s completely free, and it can take just 5 minutes to complete. To create an account online, you should visit the account registration page of the platform to get started.

You will have to choose the type of account you want whereby you can either choose between a Personal or Business account. After that, you can proceed to enter your details. Let us begin with opening a personal account which is as follows.

  • Visit the account registration page or download the XE app
  • Select personal account
  • Enter your email and password
  • Tap ‘Register Now’

For maximum security on your account, XE requires you to create a password with at least eight characters long, at least one lowercase letter, at least one capital letter, and at least one non-alphabetical character. When creating a business account, you must follow the same process as creating a personal account. You should follow any other prompts if available. Once your account is up and about, you can log into your account to transact.

xe money transfer

The Method To Transfer Money Through XE

To transfer funds through the platform, you should first log into your account using your credentials. The following steps are necessary.

  • Log into your account.
  • Confirm your currencies and check the current rate.
  • Choose the currencies you wish to exchange and let the platform’s currency converter show you the rate. The rates are real-time compared to what you will get from your local bank.
  • Enter your currency and the amount to transfer.
  • Next, provide the recipient’s details (their bank details).
  • Enter your payment details.
  • Confirm the transfer by double-checking your details and authorizing the transfer.

After that, XE will send you an email confirmation about the transfer. You will then get a notification when the recipient gets the money. The process of sending money from the United States requires additional details. Apart from providing the bank name, you must enter their name, address, and BIC/SWIFT code. XE accepts bank accounts, debit, and credit cards when making your transfers. It can be a reliable medium to transfer money from one debit card to another debit card.

Time and Cost Need To Send Money Through XE From The US

Most money transfer companies must charge fees when transferring money to earn from the services they offer. When transferring money from the United States, some transfers come with a small fee depending on the amount to transfer. XE will always show you the fees before you confirm your transfer.

The time taken for a transfer to complete varies depending on your destination. You will always see an estimate of the day the funds will arrive anytime you make a transfer. One should wait for 1 – 4 working days for your funds to reach your destination. In most cases, the transfers arrive more quickly. As I said, you will always get an email after initiating a transfer.

When it comes to the maximum amount you can send with XE, then it is overwhelmingly large. You can send up to $500,000 (or equivalent currency) from the United States online. If you want to send money, you should contact your dedicated team to arrange your transfer.

Reasons To Choose XE Money Transfer

We have several reasons one may consider XE as their favorite platform to send money. They include the following:

  • Supports various exotic currencies (supports about 139 currencies).
  • Transfers have affordable rates irrespective of the currency you use.
  • Online excellent customer support in various languages. They also have offices in Canada, the United Kingdom, the Netherlands (for the European Union), and New Zealand (for Australia).
  • You can receive alerts about your best exchange rate through the XE mobile app.
  • Ability to manage your business’s international transfers irrespective of your business size.

Alternatives Of XE Money Transfer

Various companies work with XE and even cover a larger geographical region than XE. They include the following:

i) Wise

Wise is among the various money transfer platforms operating globally that offer competitive rates for money transfers. It has transparent and affordable rates that favor small bank-to-bank or card-to-bank transfers. The service also operates online, and you have to create an online account to use it. Wise also allows you to create a multi-currency account. You can also have a personal or business account.

ii) WorldRemit          

The service is among the best for smaller cash transfers and is popular among freelancers and small business people. The platform allows money transfer to most parts of the world. You can send money online using your bank account or a smartphone or computer payment card.

iii) OFX          

OFX, previously known as OzForex, allows you to make large transfers of over $7000. It is an Australian online foreign exchange services and payments company located in Sydney. However, it operates worldwide as it is still available in the United States.

Is Bank Transfer Better Than XE Money Transfer

You can send money with a checking account number from your bank account to someone else’s account within the same branch. You can also send money with a routing number to another bank within the country. International money transfers require you to send money using the wire transfer method.

You can transfer large amounts to business or personal accounts. However, the transfer attracts hefty fees. There is a fee for a transfer and another one for receiving the funds.

In that regard, XE remains the best money transfer for international destinations compared to banks. Above all, funds can arrive earlier compared to banks. The only challenge is that it does not support sending money from all countries and is not suitable for small transfers.

Summing Up

XE is an online foreign exchange and financial services company whose headquarters are in Newmarket, Ontario, Canada. It is suitable for online currency converter services and offers exchange rate tips, international money transfers, and other currency-based services via mobile apps, its website, and other online channels. Money transfers via the platform are cheap and first. The only problem is that it does not support sending money from all countries.

Spencer Tierney is a writer and expert on certificates of deposits at His work has been featured by USA Today, MSN, SF Gate, the Los Angeles Times, NerdWallet and more. He earned a bachelor’s degree in English at UC Berkeley.