XE Money Transfer [A Complete Review]
With XE Money Transfer, you gain access to a comprehensive suite of features designed to simplify the complex world of international money transfers. Say goodbye to the uncertainty of fluctuating exchange rates and exorbitant fees. XE's competitive rates, powered by real-time market data, ensure that your hard-earned money goes further, maximizing the value of every transfer.
Security is paramount when it comes to managing your finances, and XE Money Transfer understands this implicitly. Backed by the reputation and expertise of Euronet Worldwide, a global leader in electronic financial transactions, XE employs state-of-the-art encryption and rigorous compliance measures to safeguard your funds. Rest easy knowing that your money is in trusted hands, adhering to the highest standards of security and reliability.
Beyond the convenience and security, XE Money Transfer prides itself on providing a user-friendly experience. Their intuitive online platform and mobile app empower you to send money on the go, whether you're a seasoned entrepreneur or an individual supporting loved ones overseas. The user interface is designed with simplicity in mind, ensuring that you can navigate the complexities of international transfers effortlessly, without compromising on speed or accuracy.
In a world where borders are no longer barriers, XE Money Transfer stands at the forefront, revolutionizing the way we conduct global transactions. Whether you're a business expanding into new markets or an individual supporting your loved ones abroad, XE offers a gateway to unparalleled simplicity, security, and cost-effectiveness.
Join the millions who have already embraced the future of international money transfers. Experience XE Money Transfer today and unlock a world of possibilities, where borders are mere lines on a map and your financial aspirations know no bounds.
Table of Contents
How 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.
How 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:
1. 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.
2. 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.
3. 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.
Final Thoughts
XE is an online foreign exchange and financial services company whose headquarters are in New Market, 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.
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