XE is a money transfer service owned by Euronet Worldwide. It is a widely used service which supports transfer in more than 130 currencies of the world.

XE has been praised for its guarantee of amazing transfer service considered better than what is experienced with a traditional bank. On the one hand, it’s a very fantastic service for affordable and reliable transfer of larger amounts –anything greater than $7000.

However, the service is not available to individuals in some countries or regions. This is just why you need to see a list of XE-supported countries before opting to sign up for the service.

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This post is a comprehensive one with information about XE money transfer service and so, it covers almost everything you may want to know about the service.

What Does XE Charge for Its Service?

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In figuring out what it costs to use XE, you really have to take note of four associated fees namely XE’s “send fee”, payment method fees, third-party fees and margin on exchange rate.

We’ll provide you with essential information about each of the stated fees.

XE’s “Send Fee”

This is simply the fee charged by XE for any fund transfers with values less than 250 GBP/EUR or 500 AUD/USD/NZD/CAD. It is worth noting that XE’s send fee varies depending on the country from which you’re making your fund transfer. While there’s a 2 GBP send fee attached to a 250 GBP fund from the UK, XE charges a $3 send fee for $500 fund transferred from the US.

Below is a list of the associated send fees for some other XE-supported countries/regions:

New Zealand ($4 NZD for the minimum transfer amount of $500 NZD)

Australia ($4 AUD for the minimum transfer amount of $500 AUD)

Europe (2 EUR for the minimum transfer amount of 250 EUR)

Canada ($3 CAD for the minimum transfer amount of $500 CAD)

Margin on the Exchange Rate

The margin on the exchange rate is a sort of percentage fee that is determined based on the currency (you’re sending) and your transfer amount. Basically, this fee (margin on the exchange rate) reduces when you transfer a high amount. In other words, the higher your transfer amount, the lower the margin on the exchange rate.


The XE website displays the mid-market rate but this shouldn’t give the impression that XE will allow you to enjoy this rate for your cross-border fund transfer.

In all honesty, XE does not allow its customers to do transactions at the displayed rate. According to the currency transfer service itself, XE doesn’t buy currency at that rate. The truth you have to realize is that after adding a margin to its buying rate, XE is able to maintain a rate that’s almost equal to the mid-market rate.

While using XE, you’ll want to ascertain that you’re getting a rate that actually appears better than what banks offer. That’s just why XE offers comparatively affordable rates. Honestly, XE has proven to be a better service than banks in terms of transfer of large funds internationally.

XE charges between 0.5% and 2% while banks charge between 3% and 7%.

Payment Method Fees

The payment method fee is the specific fee associated with your desired option among the payment methods supported on XE. These payment methods include Credit Card, Wire Transfer, Bank Account and Debit Card.

Depending on your chosen payment method, you’ll either incur no fee or bear a given fee as associated with that method. For instance, your card issuer may charge you as much as 5% of your transfer fee if you opt to fund your transfer via a credit card. While this 5% cash advance fee applies to customers in all of XE’s supported countries, customers in the US are an exception as they’re instead charged a flat fee equivalent to 2.99% of the amount transferred.

Unlike credit card funded transfers, transfers funded with debit cards carry zero charge for customers in all of XE-supported countries other than the US. If you’re a US customer with Debit Card specified as your payment method, you’ll be charged a fee equivalent to 0.95% of your transferred amount.

For US customers intending to use the Wire Transfer payment method, there’s an associated charge that ranges between $15 and $30. Interestingly, the Bank Account payment method doesn’t carry any charge and the good news also is that XE maintains local bank accounts in Australia, Europe, New Zealand, Canada, UK and US.

Third-Party Fees

Third-party fees form parts of the underlying charges which cause your beneficiary to receive a fee lower than what is expected. Third-party fees may include the fees charged by banks on the parts of both sender and receiver. For transactions involving relatively small amounts, these (third-party) fees may appear outrageous but for transactions with huge amounts, the fees usually have minimal effect.

Nevertheless, such fees are usually undesirable and in order to avoid them, fund transfer services –including XE –operate local bank accounts in the countries of both sender and receiver. XE maintains local bank accounts across countries/regions including New Zealand, Australia, Canada, Europe, US and UK.

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A Guide on How to Use XE

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You can opt to use XE through its mobile app or via the website of the money transfer service. In this guide, you’ll find out the easy steps for performing fund transfers through XE.

Foremost of all is that you need to sign up for XE. Provided you’re based in the Eurozone or any of Australia, US, New Zealand, Canada and the UK, you’ll be able to sign up for XE money transfer service.

Whether you’ll be using XE through its mobile app or the website, you simply have to open an account with XE. Before you can set up fund transfers via XE, you must have created an account and verified your identity. The credentials you’ll be required to present for the verification include:

  • An original copy of your bank statement (along with the corresponding bank account)
  • A copy of your electricity bill or another utility bill
  • Any government-issued ID such as a passport or driving license

After having provided the required credentials, you can proceed to setting up your fund transfer. Simply input your transaction details including the currencies (you intend to exchange) and the details of your recipient.

To complete the transfer process, the final step is to specify your desired payment method –from any of wire transfer, bank transfer, credit card and debit card –for funding the transfer.


With regard to fund transfer, XE offers some beneficial options particularly for those with business accounts. If it’s a business account you signed up for earlier, you’ll be able to select any of Market Order (an option for you to delay transfer until your currency pair reaches the preferred rate) and Forward Contracts (an option which enables you to have a fixed favorable rate for a given period).

The XE Mobile App –Here’s What You Can Do with the App

The XE mobile app offers an avenue for individuals and businesses to conveniently use XE. While the app can be accessed by users of both iOS and Android devices, some of the things you can do with the app include:

  • Keeping tabs on your transfers
  • Setting up fund transfers
  • Creating rate alerts
  • Setting up a chart displaying the historical exchange rate for your desired currency
  • Tracking as many as 10 currencies of your choice

Pros of XE

For the fact that this post isn’t intended to promote XE, we’d like to define the pros of XE as the good things customers have mentioned about the money transfer service.

Customers have, therefore, praised XE for its “simple interface”, “reasonable rates” and the guarantee of “speedy service”. A particular customer admitted that they enjoyed “excellent service from XE staff in setting up” their account for the first time. The same customer further admitted that they enjoyed a “simple process to make a transfer”.

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Cons of XE

According to the relatively few negative reviews about XE, some of the cons reported about the service are “transfer delays”, “account closures”, and XE’s demand for users’ personal details such as social security numbers in the US.

Our Stand on XE

XE is definitely a reliable and excellent money transfer service. The positive customer reviews about the service far outweigh the negative reviews. Along with 46,000+ reviews, the service has a rating of 4.5 of 5 on Trustpilot.

More than 80% of the customer reviews about XE are considered “excellent”. And as for the few negative reviews, it’s been clarified that customers are likely to face minor issues (such as transfer delays and account closures) due to XE’s compliance with regulations. Any customer facing an issue should endeavor to contact XE’s customer service team for a way out.

Our verdict on XE is that it remains an effective and safe money transfer service which can save you all the glitches constantly experienced while using conventional banks for your cross-border transfers.

Some FAQs about XE

Is There a Limit on the Amount I Can Transfer via XE?

For single transfers, there are limits on the amounts you can transfer. However, there isn’t any cap on your overall transfer limit as an XE user. Also, your transfer limit for each single transfer varies depending on your region. For instance, XE customers in Europe and the UK are restricted to 350,000 GBP per transfer while those in the United States are restricted to $535,000.

Is XE Safe for Money Transfer Purposes?

XE has been operating for more than 25 years with records showing that the service is monitored by some banks and financial regulatory agencies. Without mincing words, XE is safe for money transfer purposes.

What Is the Waiting Period for Money Transfers on XE?

When you use XE for your fund transfer, you can expect the fund to get delivered in 2-4 days. XE will provide you with accurate information on when the fund will get delivered.


XE Money transfer service is unarguably one of the best services for individuals and businesses seeking reliable and affordable mediums for the transfer of large amounts. It is a fantastic service for efficient transfer of funds ranging anywhere from $7000.

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