XE Currency Converter Reviews - www.xe.com

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★★☆☆☆
1.9 / 5
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Latest Reviews

★☆☆☆☆

“XEtrade started out great - but now they are terrible!!”

Written on: 26/11/2014 by bookseller11 (1 review written)

We are a small US book company who started using XEtrade nearly 10 years ago to make payments for used books to sellers in other countries. At that time their customer service was in Canada, and they were just wonderful. Excellent assistance, no hassles, easy to use. Seems the last few years that they have outsourced to Eastern Europe (Slovenia?)andthe whole company has gone downhill. Constantly making work for themselves by hassling us for additional company information - to PROVE who we are… Read Full Review

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★★☆☆☆

“Really long processing time!”

Written on: 26/11/2014 by KaidenO'Reilly (1 review written)

XE trade stated that they give the most up-to-date rate..bullsh!t..I went to the website prior to making the trade and saw what the rate was; however when booking the trade, the rate was completely different (lower). Took over a week for the funds to get to my sister in the UK. I live in Canada. Never will i use xe trade again. lesson learned… Read Full Review

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★★★★★

“Positive review”

Written on: 29/10/2014 by Isabelle363 (1 review written)

I have read the negative reviews about XE. However, they seem to have now corrected any problems as I have now used them twice and found them better and faster than my previous alternatives… Read Full Review

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★☆☆☆☆

“Cant i give them 0 stars? AVIOD THEM”

Written on: 12/10/2014 by 1976Spencer (1 review written)

Great website and app to keep an eye on the mid-market levels; nothing else. Stupid and intrusive questions all the time to open an account. Finally (after a month), got the account. The rate suxs. Just unacceptable. Dont waste you time with them; use transferwise or any other option. Their "no comission" way is totally false. They just add i would say a 1.2-1.5% over the rate; ending in a 2.5-3% difference from mid-market. Seriously? EUR-GBP-USD, 3%? No thanks. i Better pay an 0.5%… Read Full Review

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★☆☆☆☆

“I registered for xe thinking i would get a better deal...”

Written on: 18/09/2014 by 17Kincaid (1 review written)

I registered for xe thinking i would get a better deal for my money. Having entered all my details which included my credit card details for some reason i was concerned about this aspect of the registration process. I contacted my bank who put an alert on my credit card and to my shock i received a phone call from them less than 8 hours after to say that someone had tried to gain access to my account! I rang xe to enquire how this could happen and all they could say is that "someone else is… Read Full Review

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★☆☆☆☆

“Avoid this company like the plague!!”

Written on: 10/06/2014 by ieConway1952 (1 review written)

I went through the very laborius process of setting up an account. I set up currency exchange as the AUD was at an all time high against the USD. They never made the transfer. Couldnt get anyone on the phone who spoke English well enough to find out why. This company should be closed down. More than a year later, still waiting for a response!!… Read Full Review

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★☆☆☆☆

“Long delays”

Written on: 10/05/2014 by Lewisj52 (1 review written)

I usually use another online company to do my foreign transfers and I thought that it took too long for the funds to arrive, it usually took 48 hours. I decided to use XE and now more than 1 week later My family have still not received the funds. I contacted XE and advised them and they told me that the money would be sent within another 7-10 days and since I was not happy with their service that I could use a different company in the future. I WILL NEVER USE XE AGAIN AND HAVE CLOSED MY… Read Full Review

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★☆☆☆☆

“Money transfer from UK to China”

Written on: 01/05/2014

Registered online after what appeared a soldier's training ground. Got through it, paid my 2550 pounds to be transferred into Yuan. By the way this was seven weeks ago, I no longer have the money neither does my wife in China. One month before I decided to use XE, I I gave the same instruction to my own personal bank & they transferred 550 pounds in eight days, matter closed. I am now having a devil of a job getting the money back. It's always someone in Latvia who keeps leading me up the… Read Full Review

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★☆☆☆☆

“BEWARE”

Written on: 14/04/2014

Very disappointing. I set up an account with xe.com (including sending a scanned bank statement) believing it to be a Canadian company - and perhaps legally it is. However, when I called I was speaking with a man in the Philippines who had access to my information. I have no reason to doubt their legitimacy but I would NEVER send my personal & financial information overseas and had I known this would never have set up the account… Read Full Review

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★★★★☆

“Fast and reliable information ”

Written on: 11/02/2014 by kryptex (2 reviews written)

This is a very good and handy website. Any one looking for a quick info on currency rate, i guess, this can be the right place. I have using it for years,it's always exceptionally easy to use. XE has evolved from time to time.And it can be used in mobile apps also,this comes in very handy. They can improve their trading platform a bit an can make it more user friendly.Specially, they can incorporate more flexible payment feature… Read Full Review

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Nigelhamley's Response to kryptex's Review

Written on: 23/09/2014

This is a highly questionable advertising review. Be careful using XE i find them unreliable

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★☆☆☆☆

“A waste of time”

Written on: 25/01/2014 by BlueBayou (1 review written)

I tried to use this company to purchase our retirement property abroad. The demands they made were ridiculous. I sent them a copy of the purchase contract and they still wanted more. At the point where time was running out and I was sure they were going to request a viewing, I turned to another company and everything went smoothly - at a better rate too. XE seemed arrogantly put out by my change of plans and did not even apologise when I explained why. Avoid… Read Full Review

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Nigelhamley's Response to BlueBayou's Review

Written on: 23/09/2014

I have had a similar experience. I don't like their attitude

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★☆☆☆☆

“do not use this company”

Written on: 24/12/2013 by donotusexetrade (1 review written)

they didn't send the money made ridiculous indeed impossible demands which was a hassle and wasted my time and a whole load of others and they don't give you your money back one star here is misleading - no stars do not use this company, period… Read Full Review

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Nigelhamley's Response to donotusexetrade's Review

Written on: 23/09/2014

I have had similar experience with them

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★☆☆☆☆

“better a few years ago - Shipped customer overseas &...”

Written on: 22/11/2013

Customer service sucks. They can not understand English and refuse to transfer to a supervisor. If you do a lot of wires get a different account with another company… Read Full Review

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★☆☆☆☆

“I wish I had read this forum before I got an account!”

Written on: 21/11/2013

Too much information required from the recipient(which is not willing to give)the make a transaction I need Fast, I'll go to my bank and cancel with these guys. … Read Full Review

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★☆☆☆☆

“Horrible Exchange rate”

Written on: 13/11/2013 by rameshsap (1 review written)

Do not waste your time in opening an account. The rate from USD to INR is worse than XOOM and Western Union… Read Full Review

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★☆☆☆☆

“1,2,3 missleading fact in a row”

Written on: 28/09/2013

In the end I cancelled my trade with them and just went through my bank. This is really annoying when it took so long to get the account up and running. The problem was that the xetrade gave me an IBAN number for Switzerland (where I want to transfer money out of) with SWIFT and address details for UK and Canada. Well da my Post Finance bank can not make transfers to a swiss account that exsists in London, go figure. … Read Full Review

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★★★☆☆

“Did A Comparison”

Written on: 27/08/2013

I initiated 2 foreign currency transactions within 30mins of each other to compare performance: one using my broker and the other using XE. Same destination account (in Asia) and actually the same source account (my brokerage account). EFT from the broker to XE; Wire Xfr fm XE to my overseas account (EFT not available). Here's the score: Account Setup - XE wins hands down. Setting up the foreign transfer with my broker involved LOTS of extra legwork and "figuring out"; XE was a piece of cake… Read Full Review

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★☆☆☆☆

“This guys sucks ”

Written on: 30/07/2013 by rakeshbodar (2 reviews written)

They wont provide you a quote before you open an account. they were showing 1CAD = 59.16INR on their site when I called its 1CAD = 57.64 what the Hackkkkk! I was shocked then asked them they told its like that only… Read Full Review

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Mbin's Response to rakeshbodar's Review

Written on: 20/08/2013

Not sure this reviewer understands the concept of spread, and what a "midmarket rate" is. The site DOES explain that. Doing the math for the reviewer, 'looks like the difference between his buy rate and the midmarket rate was about 2.5%, for a total spread of about 5%. Not an incredible bargain rate or anything, but in fairness probably about average for a moderately sized transaction.

It would be nice to be able to see quoted info before signing up for an account though.

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Rakeshbodar's reply to Mbin's Comment

Written on: 27/08/2013

you guys don't provide quote before opening an account.
kindly check your company policy

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Mbin's reply to Rakeshbodar's Comment

Written on: 28/08/2013

How in the world can they do that? Buy & sell prices change by the minute, and when they give you a quote prior to your executing a transaction, they're bound by it and that's the rate you're going to get. So they're not going to give you a binding quote before you've even opened an account, which could take days to complete! I'm not sure you understand what their company policy is saying. They may or may not provide the best rates, but they do live up to their claims.

It WOULD be nice if they'd give you some kind of "current quote", and the mid-market exchange rate that it's based on, so you could get some idea of the spread they offer. (Or, they could simply post their spreads - but online exchanges don't seem to want to do that.)

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★☆☆☆☆

“Fraudulently charged my Credit Card”

Written on: 10/07/2013 by MrNHarris (1 review written)

Emigrating and attempting to transfer my life's savings to another country. Entered my Credit Card details as part of the 'sign on' requirements. Later, a small amount was deducted by an unknown company, prompting my card provider's fraud department to contact me. I immediately cancelled my Card and contacted XE who admitted that the had put though the transaction. The person on the phone was unable to tell me where in the "terms & conditions" it says that they would use my credit card. I… Read Full Review

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Mbin's Response to MrNHarris's Review

Written on: 20/08/2013

Geez - don't people ever READ about these accounts before they open them? It was a sample transaction, involving a token amount, to verify the account (or in this case apparently, the card). Not fraudulent. The website has an advisory about this.

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Mrnharris's reply to Mbin's Comment

Written on: 20/08/2013

My mistake it seems. Perhaps you could point me to where it says that they will take a token amount to verify the account as XE admitted liability, offered compensation... and then didn't pay!.
It is possible I just didn't notice the small print.
I still don't trust them after the appalling customer service I received.

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Mbin's reply to Mrnharris's Comment

Written on: 21/08/2013

Check the FAQs. I think I also saw it somewhere within the various how-to stuff, or maybe during the online application process in the notes (which was absolutely painless for me BTW, and only took overnight!). I believe Paypal, or maybe my brokerage, did the same thing when I set up corresponding bank accounts with them. It's not an unprecedented procedure by any means. It's just a token transaction to ensure you actually have the account you've provided information for, and that it's current and in good standing, and will permit such transactions. If XE "admitted liability" for the token transaction, and that's what it was, then I think they were either leaning over backwards to accommodate you, or perhaps the rep. you spoke with was even unaware of it himself.

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Mbin's reply to Mrnharris's Comment

Written on: 21/08/2013

I found it. Under FAQs is one for 'how long will the transaction take'. When you follow that link, you'll see a table showing the transaction times for different Wire/EFT Pmt/Dlvry combinations. For the Payment = EFT item, you'll see a link, and if you follow THAT link you'll see a discussion of EFT Verification, which must be performed once, either prior to or in connection with your first order using the account to be debited.

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★☆☆☆☆

“DO NOT USE THIS COMPANY”

Written on: 01/07/2013 by Crombant (1 review written)

The process to register an account with this company is unbelievable. I paid to have my documents certified by the Australian Embassy in Washington DC. I then rang to find out the status of my application only to find out that they are waiting for my certifier to verify that they certified my documents. The documents and client identity certification form both have an official stamp of the Embassy of Australia, Washington DC. You can't get more official then that! The person on the phone… Read Full Review

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