written by Canexpat on 06/03/2016
written by MeganNicholson99 on 30/07/2015
I have used Xe for many years, mainly to transfer funds to Uganda. Two years ago, they stopped transferring funds from an educational charity without warning, due to some security restraints, probably not their fault, but some warning would have been helpful. My most recent transfer this week took six days, much longer than usual, I think they have moved some of their operations to Slovenia, which is strange, and may explain delays. Also they stopped sending out courtesy emails to recipients.
written by 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. Just took an overnight to get the account activation! Could NOT have been easier. Fee & Rate Advisories - again, XE wins. Between their online realtime quote process and the well-publicized wire transfer fee, I knew to the penny what the transaction was going to cost all in. That doesn't happen with my broker (but see below). Ease of Use - Well, my broker only requires a phonecall (collect from anywhere in the world) but no internet orders. With XE you do it all online. Both pretty easy. Fees - I got a significantly better rate from my broker and paid NO wire transfer fee, and THAT's going through an intermediary bank. Time - Broker won hands down: took only 12 hrs from initiation to money in my overseas account, and again, THAT'S going through an intermediary. It took XE a week! Everyone's circumstances are different, and XE may be as good as any for many (USD to UK xfrs perhaps); not me. My suggestion is you check out the banks and financial institutions you're already doing business with, and maybe do some trial runs, and then decide.
written by Kerusso on 04/02/2012
There customer service and rates use to be much better. I still use them but I am considering switching to another exchange service.
written by on 13/11/2010
XE.com is great for seeing interbank exchange rates, but the exchange rate provided to me was quite high. However, transacting with them online is easy to use. I now use knightsbridgefx.com (Canadian company) as they have better exchange rates and I can actually talk to someone about my transfer.
written by on 21/01/2010
I heard a lot but wasnt too happy with rates quoted.
I also contacted transfermate.com having read other reviews. They wer cheaper and have a very easy online system.
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Muthukumaar's Response to Kerusso's Review
Written on: 06/05/2013
Can you pls help with the list of other exchanges services that you intend to use? It will help me a lot than doing the complete research by myself