XE Review - Forbes Advisor UK

XE Review – Forbes Advisor UK

The X think about XE is twofold: the power to switch cash in 65 international locations to greater than 170 international locations, and the power to let the recipient decide up the transferred money at a spot like a financial institution department or retailer. However the “why” issue – as in “Why do you have to do enterprise with XE?” – It’d make you surprise about XE conversion charges and alternate fee markings. On the roadmap for worldwide cash transfers, XE is a center floor different somewhat than a selected crimson gentle or inexperienced gentle.


  • Switch cash in 65 currencies to greater than 170 international locations
  • It offers an choice to the recipient to gather money from the shop, financial institution or some other location
  • The app is on the market in 11 languages


  • Transfers are allowed from 22 international locations solely
  • Payment switch charge
  • It posts a mid-market (or “actual”) alternate fee on its on-line foreign money converter, however XE fees a excessive fee related to worldwide cash transfers.


It varies in some instances, a share of the quantity you ship

Variety of international locations served

170+ international locations

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Who ought to use XE?

Somebody who needs the pliability to ship cash in 65 currencies to greater than 170 international locations ought to think about using XE for worldwide cash transfers. So, too, ought to somebody who appreciates the power to let the recipient acquire cash at a bodily location like a retailer or financial institution.

Nevertheless, XE might be not the only option if you wish to keep away from conversion charges or revenue margins on alternate charges.

XE Options

XE allows the person to ship cash by:

  • financial institution low cost (ACH)
  • Financial institution switch or wire switch (£2,440 and above)
  • Debit card or bank card

XE suggests utilizing ACH direct debit if you wish to keep away from additional charges, wire switch, card cost if you would like the switch to be processed rapidly, or wire switch if you wish to ship a big amount of cash.

Funds might be transferred in 65 currencies to greater than 170 international locations. You’ll be able to register to ship cash if you happen to reside in one of many 22 international locations supported by XE.

A global switch by way of XE typically takes one to 5 enterprise days. Nevertheless, XE says most of its transfers are accomplished inside 24 hours, and a few take a couple of minutes or are executed in actual time. XE processes the switch as quickly because the funds are acquired. As soon as the switch is full, you’ll be notified by way of e mail or textual content message.

Listed below are a number of the key options of XE.

Money receipt

Anybody can decide up the transferred funds at greater than 500,000 places worldwide. Transfers involving money assortment should be despatched by means of the XE app.

facial recognition

XE could confirm your identification by means of facial recognition. In some instances, a transaction can’t happen till the shopper offers a photograph as proof of identification (comparable to a driver’s license or passport picture) and takes a selfie by means of XE’s facial recognition service.

XE pricing

The XE app is on the market on the App Retailer and Google Play. The QR code on the XE web site makes it straightforward to obtain the app free of charge.

Creating an XE account can also be free.

In some instances, XE doesn’t cost any cash switch charges. In different instances, it fees a charge.

Additionally, you might be charged by your financial institution, bank card issuer, or debit card issuer. For instance, a bank card issuer could cost a money advance charge of as much as 5%.

For UK or European debit card transfers, XE fees no charge. But it surely does cost a debit card switch charge for cash despatched from the US, Canada, Australia or New Zealand. The charge is a share of the cash quantity.

XE notes that transfers despatched by means of the money pick-up service could also be topic to a special charge schedule.

Debit card funds additionally include limits imposed by XE, as much as 5 transactions per day plus a day by day restrict on the overall amount of money despatched. The client’s financial institution can also set its personal limits.

conversion restrict

For financial institution transfers, XE doesn’t set minimal limits, though your financial institution could restrict the amount of cash you may ship per day, weekly, or per thirty days.

In case you ship a financial institution switch by way of the XE app, you will need to switch greater than £2,440.

alternate fee

On its foreign money converter, XE posts what is named a mid-market foreign money alternate fee, which is actually a wholesale fee that’s solely obtainable to giant monetary establishments or main foreign money patrons. Nevertheless, that’s not the speed you’ll get from XE. As an alternative, XE fees the alternate fee together with the share of margin you maintain.

Ease of use of XE

The XE app, launched in 2009, is available in 11 languages: English, Danish, Dutch, Finnish, French, German, Italian, Lithuanian, Norwegian, Spanish and Swedish. Appropriate with:

  • iPhone with iOS 11.0 or later
  • iPad working iPadOS 11.0 or later
  • Android gadgets

The convenience of use of the app has by no means been so nice. We tried twice to create an account on the iOS app however could not get previous the Create Account display screen. So, we ended up signing up for an account on the XE web site. There, the operation labored. A verification code was emailed to us, after which we have been requested to supply data comparable to title, date of delivery, handle, and cellphone quantity. We have been additionally requested to say how a lot cash we count on to switch within the subsequent 12 months.

XE help

XE gives buyer help in these methods:

  • Phone
  • Dwell chat, normally by way of a chatbot
  • On-line messaging

XE Cash Switch buyer help might be reached by cellphone on 01753 441844. Buyer help calls are answered 24 hours a day, Monday to Friday.

XE says it responds to buyer help emails inside 24 hours. Responses have been written in additional than 100 languages.

How Xe stacks up in opposition to the competitors

XE vs. Clever

Clever allows anybody to ship cash from extra international locations than XE can. Moreover, Clever doesn’t cost for alternate charges. However XE enables you to ship cash to extra international locations than Clever does, and it permits somebody to gather cash from 1000’s of firms (which Clever does not).

XE vs. OFX

In contrast to XE, OFX doesn’t cost any switch charges. Additionally, OFX permits transfers to extra international locations than XE. Nevertheless, XE beats OFX in relation to cost strategies. OFX solely permits bank-to-bank transfers, whereas XE offers a variety of cost strategies, together with bank cards. Furthermore, XE allows money taking, whereas OFX doesn’t.

XE vs. Xoom

Xoom permits you to ship cash from extra international locations than XE does. As well as, a Xoom person can add money to a pay as you go cellphone account, which is not an possibility with the XE. Nevertheless, XE permits you to ship cash to extra international locations than Xoom does. Furthermore, XE has decrease transaction limits.

Ceaselessly requested questions (FAQs)

How does XE Cash Switch work?

An XE cash switch might be despatched by means of the corporate’s web site or app. Funds might be despatched in 65 currencies to greater than 170 international locations, and might be transferred from 22 international locations. Methods to ship cash embrace a checking account, debit card, and bank card.

How secure is XE Cash Switch?

Transfers made by means of XE, which is owned by the multi-billion greenback firm Euronet Worldwide, are thought-about safe. Amongst different issues, XE touts its safety and fraud prevention capabilities and know-how, and stresses its monitor document of processing greater than £93 billion in transfers.

Methods to cancel XE cash switch?

The way you cancel an XE Cash Switch relies on the tactic of switch and the place you’re within the switch course of. For instance, in case your switch is confirmed and the alternate fee is locked, you will need to contact XE to cancel the switch.

How lengthy does an XE cash switch take?

A global cash switch by way of XE typically takes one to 5 enterprise days.

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